WASHINGTON - The Kennedy Center for the Performing Arts is launching a search for a new president to succeed Michael Kaiser when his contract ends in 2014.
The center announced Wednesday that Chairman David Rubenstein and board member Anthony Welters will lead a search committee to hire Kaiser's replacement.
The Kennedy Center is the nation's memorial to President John F. Kennedy. It's also among the busiest performing arts centers and runs an extensive arts education program.
The president oversees a $200 million annual budget and is responsible for raising about $80 million each year.
Rubenstein says the position is unique in the world, overseeing an opera company, two orchestras, a ballet company and extensive theater, dance and jazz programs.
Kaiser has been president for 12 years after leading London's Royal Opera House.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)