Linda Childears, the chief executive of Young Americans Bank since its inception in 1987, will take over as president and chief executive of the Daniels Fund starting Aug. 1, the charitable foundation announced Monday.
Childears will replace Hank Brown, who will become the University of Colorado’s interim president Aug. 1.
Childears was introduced as CEO at a news conference at the Daniels Fund building in Cherry Creek.
“I’m so excited I can hardly talk,” Childears said. “Moving over here is the most natural thing I can imagine.”
Both the Daniels Fund and the Young Americans Bank, across the street, were founded by cable magnate Bill Daniels, who died in 2000.
John Saeman, the Daniels Fund board chairman who once worked with Bill Daniels, said Childears was the only person interviewed for the job. He noted that dozens of people outside the fund expressed interest, but that Childears earned a unanimous vote from the board. Childears, who is on the board, did not vote.
“To have someone who worked with Bill Daniels and had his trust, she was an overwhelming choice,” Saeman said.
Founding Young Americans Bank, which provides financial education to youths, “was one obstacle after another, but every obstacle you would encounter, you’d hear the same thing from Bill: ‘So what’s your point? Fix it,”‘ Childears said in “Relentless,” a biography of Daniels written by Stephen Singular.
The Daniels Fund, begun in 1997, is the Rocky Mountain region’s largest charitable foundation, with $1.1 billion in assets. It provides grants and scholarships in Denver and across the Rocky Mountain region. The fund also gives grants to nonprofits to combat alcoholism and homelessness and to improve education and ethics.
In 2003, the fund laid off 21 workers, including eight in Colorado, and abandoned plans for a $10 million conference center after an internal review showed the foundation’s grant-issuing costs were nearly three times the average.
Childears said Monday she hopes to preside during a time of tranquility for the foundation.
“We made a course correction along the way, and I see a period of stability,” said Childears, who noted that she hopes to finish her career at the fund. “We’ve been through quite a bit of change, and I think the healthiest thing for the fund is to have stability.”
It’s unclear who will take over at Young Americans Bank, where Childears spent the last 18 years.
“We are ecstatic for Linda and sad for us that we will lose her,” said Barb Danbom, chief financial officer for Young Americans Bank. “She’s been a fabulous leader.”
Brown, a former Republican U.S. senator and congressman, said Childears’ ties to local nonprofits will benefit the fund.
“She epitomizes Bill Daniels’ management style,” Brown said. “He looked for perfectionists who were capable, and of the highest ethical character.”
Staff writer Will Shanley can be reached at 303-820-1473 or wshanley@denverpost.com.
Linda Childears
Born: In Council Bluffs, Iowa; moved to Denver at age 5
Family: Husband Don, president of Colorado Bankers Association
Education: Attended University of Denver and University of Colorado; certificate from the University of Wisconsin Graduate School of Banking
Current position: CEO since 1987 of Denver-based nonprofit Young Americans Bank
New position: President and CEO of the Daniels Fund, to begin Aug. 1
Board memberships: Daniels Fund, Denver Public Schools Foundation, Alliance for Choice and Education and Young Americans Bank
Previous board memberships: Metro Denver Chamber of Commerce, United Way, Cherry Creek Business Improvement District, Cherry Creek Arts Festival
