Iowa State President Steven Leath announced Tuesday night the retirement of Warren Madden, senior vice president for business and finance, who has worked at the university for nearly 50 years.

Announcing Warren Madden’s retirement tonight. He’s an #IowaState institution and a pillar of the Ames community.

— Steven Leath (@IASTATE_Pres) February 3, 2016

Leath made the announcement of Madden’s retirement during the first half of the men’s basketball game against West Virginia in Hilton Coliseum Tuesday night. The university president later followed the announcement with a statement on his Twitter account.

Madden’s retirement will be effective June 30, 2016.

According to the ISU Alumni Association, Madden received his bachelor of science degree from Iowa State in industrial engineering in 1961. He then went on to earn an MBA from the University of Chicago before eventually returning to Ames.

He served in a variety in positions before he was named Vice President for Business and Finance in 1984. In 2012, he became the senior vice president for business and finance and has held the position since.