Frederick Lawrence has announced he will step down as Brandeis University's president come the end of the current academic year.

According to the Associated Press, Lawrence notified the school's community Friday in an open letter. He was hired as Brandeis' eighth president in Jan. 2011.

A leading private research university, Brandeis calls itself the "only nonsectarian, Jewish-sponsored college or university," the AP reported. The liberal arts school is also one of the many prestigious institutions in or around the city of Boston, Mass.

In his letter, the school said in a news release, Lawrence said he is "tremendously proud of the ways Brandeis has grown and thrived [and is] looking forward to returning to full-time scholarship and teaching as a senior research scholar at Yale Law School.

"Brandeis is a strong, vital, and dynamic institution, and I am profoundly grateful for the opportunity to serve alongside so many extraordinary students, faculty, alumni, staff, parents, and friends of the university."

Lisa Lynch, Brandeis' provost, will take over as the school's interim president in July, but the Board of Trustees (BOT) is expected to start their search for a permanent replacement immediately.

"Lisa Lynch is an internationally renowned economist who brings experience and success in senior leadership positions in academia and the government," Perry M. Traquina, chairman of the Brandeis' BOT. "The Board is very confident in her ability to lead the university.

"[Lawrence] has worked tirelessly to move our university forward and has the results to show for it - including making significant progress in balancing the university's budget, a record endowment, the fundraising of $225 million in gifts, and a 35 percent increase in applications under his stewardship.

"Fred has also brought an unbridled energy and enthusiasm to our campus, and our students have benefited greatly from Fred's hands-on approach to their education and student experience."