Golden LEAF Foundation Names Ted Lord as New CEO
The appointment of the 20-year veteran signals stability for organizations seeking funding from the $1.4 billion foundation.
Updated on Oct. 30, 2026 in People
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The board of the Rocky Mount-based Golden LEAF Foundation has appointed senior vice president and general counsel Ted Lord as its next president and CEO. Lord, who has been with the organization since 2005, succeeds retiring CEO Scott Hamilton.
Why it matters
The transition brings a 20-year veteran of the foundation to the helm as it manages over $1.4 billion in assets. For operators engaging with the organization, the change signals a continuation of the foundation's long-term grant-making strategy for regional projects.
The foundation has awarded $1.5 billion in grants to 2,412 projects since 1999 and currently maintains a portfolio of more than $1.4 billion in assets. In 2024, the foundation reported compensation of $346,000 for outgoing CEO Scott Hamilton and $260,000 for Ted Lord.
The players
Golden LEAF Foundation
A Rocky Mount-based non-profit entity managing $1.4 billion in assets derived from the Master Settlement Agreement.
Ted Lord
The incoming president and CEO of the Golden LEAF Foundation with 20 years of institutional experience.
Scott Hamilton
The retiring president and CEO who led the organization since 2019.
The Nautical Group
A Raleigh-based executive search firm that facilitated the board's leadership transition process.
Jim Harrell
A board member and lobbyist who chaired the foundation's CEO search committee.
The details
The foundation's board utilized The Nautical Group to facilitate the executive search, which was chaired by lobbyist Jim Harrell. Ted Lord, a graduate of Swarthmore College and Wake Forest University School of Law, will move from his current capacity as senior vice president and general counsel to the top leadership position. The organization was established following the Master Settlement Agreement to support economic development through project-based funding.
Timeline
1999: The Golden LEAF Foundation began awarding project grants.
2005: Ted Lord began his tenure at the foundation.
2019: Scott Hamilton assumed the role of CEO.
2024: The reporting year for the foundation's executive compensation figures.
October 29, 2026: The foundation announced the appointment of Ted Lord as the new president and CEO.
Market Landscape
The Golden LEAF Foundation operates under a mandate established by the Master Settlement Agreement between various states and cigarette manufacturers. This leadership transition follows the strategic patterns set by the foundation's 27-year history of directing settlement funds into community project grants.
Operators currently working with the foundation should prepare for continuity in grant-making operations under Lord's long-standing leadership. Businesses seeking project funding should continue to monitor the foundation's established application criteria and existing grant cycles.
The takeaway
The promotion of an internal general counsel to the CEO role suggests a focus on institutional stability rather than strategic restructuring. Stakeholders should track future board meetings to identify any potential shifts in long-term grant priorities under new leadership.
Further reading
For more on local leadership changes, visit the People section.
Source note: This article includes information reported by Business North Carolina.
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