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Golden LEAF Foundation Names Ted Lord as CEO

The Rocky Mount-based organization has appointed Ted Lord as its next president and chief executive officer.

Updated on Oct. 30, 2026 in People

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The Golden LEAF Foundation has appointed Ted Lord as its new president and CEO, succeeding Scott Hamilton to manage its economic development assets. AI Illustration. Upload story photo >

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The Golden LEAF Foundation board has selected Ted Lord to serve as the organization's fourth president and CEO. Lord will succeed Scott Hamilton, who has led the foundation since 2019.

Why it matters

The transition marks a significant leadership change for the nonprofit, which manages over $1.4 billion in assets to support economic development projects across the state.

The foundation holds assets exceeding $1.4 billion and has awarded $1.5 billion to 2,412 projects since 1999. The organization reported $346,000 in 2024 compensation for Scott Hamilton, compared to $260,000 for Ted Lord.

The players

Ted Lord

He is the incoming president and CEO of the Golden LEAF Foundation and a law graduate of Wake Forest University.

Scott Hamilton

He is the outgoing president and CEO of the Golden LEAF Foundation who has led the organization since 2019.

Golden LEAF Foundation

This organization was formed following the Master Settlement Agreement between states and cigarette manufacturers to distribute economic grants.

The Nautical Group

This firm facilitated the executive search process for the foundation's board of directors.

Jim Harrell

He is a lobbyist and board member who chaired the search committee for the new CEO.

The details

Lord, who joined the foundation in 2005, currently serves as its senior vice president and general counsel. The board selected him following a search process facilitated by The Nautical Group and chaired by lobbyist Jim Harrell.

Timeline

  1. 1999: The Golden LEAF Foundation began awarding project grants.

  2. 2005: Ted Lord began his tenure at the Golden LEAF Foundation.

  3. 2019: Scott Hamilton assumed the role of CEO.

  4. 2024: The foundation filed tax reports detailing executive compensation.

  5. October 29, 2026: The foundation officially announced the appointment of Ted Lord.

Market Landscape

The appointment follows the structural mandate established by the Master Settlement Agreement, which dictates how the foundation utilizes its assets. This leadership shift ensures continuity for an entity that remains a primary financier of economic projects in the region.

The transition is unlikely to immediately disrupt the foundation's grant-making activities or current project pipeline. Recipients of foundation funding should monitor future board communications for any potential changes in organizational priorities under the new leadership.

The takeaway

The selection of an internal candidate like Lord suggests the board favors a strategy of organizational continuity. Stakeholders can expect the foundation to maintain its long-term focus on economic development rather than pursuing a shift in core mission.

Further reading

Learn more about local leadership shifts in the Rocky Mount People section.

Source note: This article includes information reported by Business North Carolina.

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Do you trust that new leadership at major foundations will continue to prioritize local economic needs?