LOS ANGELES (CNS) — USC Thursday announced a new chair of the Board of Trustees to replace billionaire real estate developer Rick Caruso, who is running for mayor of Los Angeles.

An alumna of USC, Suzanne Nora Johnson has served on the board since 1998.

"Suzanne is a highly accomplished executive who brings a wealth of experience and insight to our board," USC President Carol L. Folt said. "Over two decades of service as a USC trustee, she has proven to be a collaborative, strategic, insightful and ethical leader who is passionate about our community. I look forward to working with her to implement our ambitious goals for the future."

Nora Johnson is also chair of the Compensation Committee for Intuit and chair of Pfizer's Audit Committee. She also previously served as the vice chair of the Goldman Sachs Group and on the boards of the Broad Foundation, the Brookings Institution, America's Frontier Fund and the Markle Foundation She also co-chaired the Carnegie Institution of Science.

"I am honored and grateful for the opportunity to serve as the next chair of the USC Board of Trustees. Leadership is a team sport, and I believe our work as a board and as a university will be strengthened by engagement with USC students, faculty and staff as well as members of the broader Los Angeles community," Nora Johnson said. "As chair, I will be dedicated to unifying the Trojan Family to accomplish the ambitious goals set by President Folt."

USC said that she has spent her more than two decades on the board being an advocate for transformational leadership. She served on the Presidential Search Advisory Committee that led to Folt being hired as the university's president, and she chaired committees that led to the hiring of Chief Investment Officer Amy Diamond and athletic director Mike Bohn, according to the university.

Caruso said he was "thrilled" that the board elected Nora Johnson.

"Suzanne and I have been friends since we were classmates at USC and she is certain to have a deep impact guiding and leading USC into the future," he added.

Nora Johnson graduated from USC with a bachelor's degree in interdisciplinary studies with an emphasis on economics, philosophy/religion and political science in 1979. She also received a Juris Doctor degree from Harvard Law School.