AUGUSTA — Edmund Cervone said Monday that he has resigned as president and CEO of the Maine Development Foundation.

Cervone said his resignation, effective Sept. 23, is for personal reasons and it’s “a happy parting.”

The foundation is a private, nonprofit organization created by the state in 1978 to boost Maine’s economy through various outreach efforts.

Its chairman, Aldo Servello, said in a news release that Cervone has led the group through a period of transition and growth in the past year. Cervone was named to his position in October.

The board has begun a search to replace Cervone while developing a transition plan to ensure that the foundation’s projects are not interrupted, Servello said.

Cervone, a Hallowell resident, was the foundation’s senior program director and operations officer from 2007 until he was named president and CEO last year.

He is a graduate of the foundation’s Leadership Maine Xi Class and has worked in related leadership roles in other states, including Colorado, New Jersey and Delaware. He also serves on the Hallowell City Council.