Dick Kiphart, the chair of Columbia’s board of trustees since 2013, has stepped down from his position due to an extended surgical recovery period and will be replaced by trustee member Bill Wolf, who assumed the role after a May 12 board election.

“Dick got me on the board and did a wonderful job with repositioning the school with [President and CEO] Kwang-Wu [Kim],” Wolf said. “It is a real thrill to have the chance to build on the path that they created here.”

Kiphart’s medical recovery stems from surgery on a broken hip. Despite stepping down as chairman, he will remain on the board as an active trustee, a position he has held since 2009.

During his time on the board, Kiphart welcomed Kim—who also assumed his role in in 2013 around the same time Kiphart became chair—and oversaw the early implementation of Columbia’s Strategic Plan.

“I believe in Columbia College and have enjoyed my time as chair of the board of trustees,” Kiphart said in a May 12 college press release. “Columbia is a very special institution with enormous potential to be a national leader in college education for young creatives.”

Kiphart and Wolf are partners at KDWC Ventures, a new Chicago-based investment firm for technology startups.

Wolf, who also currently serves as chair of the board’s investment committee and as a member of the executive, finance and audit committees, has served on numerous corporate boards and is a member of the board of trustees for the Chicago Child Care Society.

“I think about what [Kiphart and I] do with the companies we invest in and try and build and grow [the companies],” Wolf said. “In some ways that is what we can do here at Columbia.”

Wolf said one of his main goals as chairman is to push trustee members to be more engaged with the Columbia community. The board currently has two open positions.

“Columbia has been very fortunate to have both Dick and Bill as trustees,” Kim said in the press release. “Dick has been an exceptional partner as chair—he understands that the college needs to be bold at this critical point in its history, and he has never stepped away from a challenge. I’m pleased he will remain on the board in a different capacity, as we will continue to benefit from his experience and wisdom.”