Duke University has named Vincent Price as the university’s next president.

The announcement was made by Duke University Board of Trustees chair David Rubenstein on Friday.

Price has served as the provost of the University of Pennsylvania since 2009.

“I could not be more pleased with this decision, for Vince Price has demonstrated throughout his distinguished academic career the type of strong, effective and enlightened leadership which will ensure that Duke has a worthy successor to Dick Brodhead,” Rubenstein said Friday morning.

Brodhead announced earlier this year that he would be stepping down after serving as Duke’s president for 13 years.

In addition to his duties as provost, the 59-year-old Price is the Steven H. Chaffee Professor of Communication in the Annenberg School for Communication and professor of political science in the School of Arts and Sciences.

Price issued a statement through Duke on Friday calling the university “a very special place where innovation is fueled by creativity, and continually informed by rigorous and groundbreaking scholarship. Most important, it’s a place deeply dedicated to improving our world through research, service and education.

“Dick Brodhead’s extraordinary leadership magnified these core values and brought Duke to the pinnacle of global universities. Now our collective challenge is to build upon and extend that work: to make Duke an ever more powerful voice for education and innovation, an ever more effective model for openness, diversity and inclusion, and an ever more engaged institution dedicated to identifying and solving the great challenges of society.”

Price added, “I am deeply honored to be a part of this most dynamic university, and I look forward to working with our faculty, students, staff, alumni and many friends around the world.”

“Duke has made an absolutely superb choice,” said Amy Gutmann, president of the University of Pennsylvania.  “No one is better prepared or more deserving than Vince to lead a distinguished university such as Duke. We at Penn are both proud and extremely happy for him, Annette and their family, even if our happiness is tinged with the sadness of our cherished colleague and friend departing from Penn come July 1.”

Price has a Ph.D. and master’s degree in communication from Stanford University after receiving an undergraduate degree from Santa Clara University.

Price will take office on July 1, 2017.

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