Update: Michele Holbrook issued a statement to WHQR on Friday afternoon, May 24. You can find it below.
Another member of leadership of the New Hanover Community Endowment has resigned, according to a May 23 press release.
Michele Holbrook joined the Board of Directors in 2020 at the organization's inception, appointed by Novant Health.
The $1.25 billion Endowment was created by New Hanover County with proceeds from the sale of New Hanover Regional Medical Center to Novant. The Endowment has 13 board members: six appointed by Novant, five appointed by the county, and two self-appointed members (a condition added to promote diversity on the board during Attorney General Josh Stein’s review of the sale and Endowment formation). With Holbrook's resignation, that board is now down to 12 and will operate with current members until a new board member is identified.
Endowment Chair Bill Cameron shared a statement in the press release announcing Holbrook's resignation: "On behalf of the New Hanover Community Endowment (NHCE) Board of Directors, I would like to thank Michele Holbrook for her dedicated service as a board member. Since the NHCE’s inception in 2020, Michele has provided valuable leadership and experience to the NHCE board, serving as the Chair of the Governance committee and a member of the Finance and Grants committees. During Michele’s tenure, the NHCE approved 145 grants, investing more than $70,000,000 over the next two years into our community with a focus on education, equity, community safety and community development."
Holbrook is the third person to resign from the endowment this year: president and CEO William Buster resigned in February and fellow board member Patricia Kusek resigned soon after, in March. All three resignations came abruptly and with limited information coming from the Endowment as to the cause.
Holbrook told WHQR that she left on good terms and provided a statement:
I am proud to have served on the New Hanover Community Endowment since inception in 2020. During my four years as a board member, we have approved more than 145 grants and provided significant investments into our community with a focus on education, equity, community safety and community development. It was a difficult decision to resign from the endowment, but personal commitments made it difficult to fulfill the requirements of my position on the Board. I felt it best for the endowment, and the community, for me to make room for someone with the time and energy to devote to the job. I have been honored to work alongside outstanding board members, non-profit leaders and other key stakeholders within our community who are dedicating their time, leadership, and wisdom to attacking issues of need within Wilmington and New Hanover County.
