MIDDLEBURY (AP) -- The president of Middlebury College announced Thursday that he will step down in 2015, at the end of the next academic year.

President Ronald Liebowitz announced his plans at a board of trustees meeting in New York City on Thursday and sent an email to the campus community in the afternoon, the college said.

"It has been an honor of the highest order to serve as the 16th president of this remarkable institution," Liebowitz, who has been president since 2004, wrote. "With its dedicated and committed staff, superb faculty, and outstanding students, Middlebury has never been stronger or better positioned for the future."

He didn’t say why he was leaving and the school wouldn’t comment.

During his tenure, the school acquired the Monterey Institute of International Studies, opened 23 new sites for studying abroad and added 120 endowed student scholarships for financial aid and 15 endowed faculty positions, Middlebury said.

The school also created its 10th intensive summer language school, in Hebrew, a summer program to study the environment and the Center for Social Entrepreneurship as well as inaugurated the Franklin Environmental Center for the study of the environment and sustainability.

Liebowitz also guided Middlebury through the recession while maintaining a balanced budget and avoiding layoffs, Middlebury said.