The William R. Kenan Jr. Charitable Trust in Chapel Hill, N.C., has named Richard M. Krasno, president of the Monterey Institute of International Studies in Monterey, Calif., as its next executive director.

Krasno, who begins work in September, succeeds William C. Friday, who has headed the $425 million-asset foundation since 1986, when he retired after 30 years as president of the University of North Carolina System.

Krasno formerly worked at the Ford Foundation, served as deputy assistant secretary of education for international education and, from 1981 to 1998, ran the Institute of International Education, the largest international education exchange and human resource development organization in the U.S. He is a member of the Council on Foreign Relations.

The Kenan Trust, which made $12.5 million in grants last year, supports a broad range of education programs.

Over the past 10 years, for example, it made grants of $20 million each to create Kenan institutes at the University of North Carolina at Chapel Hill; N.C. State University in Raleigh; and the N.C. School of the Arts in Winston-Salem. It also contributed $20 million to the Kenan-Flagler Business School as UNC-Chapel Hill.

In its first 15 years, the foundation contributed $42 million to create more than 100 professorships at 56 leading U.S. colleges and universities.