Calvert Investments announced today that Barbara J. Krumsiek will step down as president and CEO of the firm at the end of this year after 17 years of service in those positions. She will remain chair of Calvert’s board of directors.

Calvert also announced the launch of the Calvert Institute, which will promote the growth of sustainable and responsible investing through research and advocacy. Krumsiek has been named founding chair of the Institute, which is due to open in January.

“Now it is time to turn my efforts full-time to heading up the Calvert Institute and developing its vision and mandate,” said Krumsiek. “This gives me the opportunity to pursue what I am personally passionate about—promoting corporate social responsibility throughout the world to secure a better future for generations to come.”

The search for a new CEO will begin immediately and will be led by Executive Vice President Bill Lester of Ameritas Holding Company, the parent company of Calvert Investments, according to the release.