DePaul President Stepping Down After 2016-17 School Year

(CBS) -- DePaul University President Rev. Dennis H. Holtschneider will step down at the end of the 2016-17 academic year, the university announced on Monday.

After taking a year sabbatical, Holtschneider will assume his tenured faculty position at the university.

"It has been an honor and a privilege to serve as the president of DePaul University," Holtschneider in a statement. "In the past 12 years, the university has achieved many of the goals set for enrollment, finances, academic excellence, new programs, facilities, alumni organization, national reputation and, most important, its Catholic and Vincentian mission. A new leader can assist the institution to name and ambitiously pursue its next set of goals."

During Holtschneider's tenure, the university established two new colleges: the College of Communication and the College of Science and Health, the university said in a statement.

DePaul Trustee and Vice Chair Jim Ryan will lead a search committee with representatives from the board, university administration, faculty, staff and students.

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