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Broad Foundation names Bruce Reed – Vice-President Joe Biden's chief of staff – its new president

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The Broad Foundation is changing its leadership structure – Bruce Reed is leaving the Obama administration to become president of the education reform organization based in Los Angeles. Reed has been Vice President Joe Biden's chief of staff since January 2011.

The announcement of the new position came Wednesday morning.

In a statement, Reed praised the founders of the foundation – billionaire Eli Broad and his wife Edythe Broad – for their visionary philanthropy.

"No one is more committed to improving our public schools," Reed said. "And their generosity is matched by their focus on making the world a better place."

The hunt for a president has been underway for about a year, according to a Karen Denne, chief communications officer for The Broad Foundation. Eli Broad will now add chairman to his title at the organization, which began making education investments in 1999.

Since that time, the foundation has put more than $580 million toward improving schools nationwide.

"The team can't wait until he comes on board," Denne said. "He's really bringing new energy and a new perspective."

Some critics have disapproved of the Broad Foundation's focus on expanding charter schools, calling it a move to privatize education. Last year, it awarded 52 education grants totaling about $33 million.

Reed will oversee a team of 15 people. In his new role, he'll oversee the Broad Foundation's investments and education activities. He'll also serve as spokesman on The Broad Foundation's education efforts.

He is expected to start in mid-December.

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