Hamline University's president, Linda Hanson, will retire next summer after 10 years on the job, the university announced Monday.

Hanson has led the St. Paul-based university through a series of transformations, including the launch of its School of Business and the opening of a second campus, in Minneapolis.

Bob Klas Jr., chairman of the board of trustees, issued a statement calling Hanson an "extraordinary leader for Hamline during a time of great challenge and change in the economy."

Among other things, Hanson led the development of a 20-year master plan for the campus, and has built the university's endowment to an "all-time high" of $93 million, according to the university.

The board plans to launch a national search for her replacement.

Maura Lerner