Former CFO Peter Taylor announced plans to take a new job in Los Angeles.

UC Chief Financial Officer Peter Taylor will be leaving the UC system on April 25. Taylor plans to join a Los Angeles private foundation that seeks to improve education in underserved communities.

In the meantime, UC Executive Vice President for Business Operations Nathan Brostrom will oversee the finance division. UC Interim Chief of Staff to the CFO Cathy O’Sullivan will lead a review of business operations and the Office of the Chief Financial Officer. The UC Office of the President intends to include three campus representatives in this process and hopes to complete the review by June 30.

UC President Janet Napolitano sent a press release on March 25 explaining the situation.

“I accept Peter’s resignation with regret,” Napolitano said in the email. “Under his diligent and creative direction, he produced new and ongoing operational and investment practices that so far have generated hundreds of millions in net savings for the University — and California taxpayers.”

Taylor received his undergraduate degree from UCLA and worked for UCOP as CFO for five years. According to Napolitano’s email, Taylor “will always be available to assist the University of California.”