LOS ANGELES — USC President Carol Folt, who took over the university nearly five years ago to bring stability following a sweeping admissions scandal but came under fire last year like many other U.S. academic leaders during pro-Palestinian campus protests, announced Friday she will retire as president in July at the end of the academic year.

"Serving as the twelfth president of the University of Southern California is one of the greatest privileges of my life," Folt wrote in a message Friday to the campus community. "Working with so many of you to achieve the promise of our incredible Trojan Family brings me joy and inspiration each day. After more than 20 years of leadership at three great universities, however, I am excited to embrace the freedom that comes with a next big leap, and to pass the baton to the next president who will be able to build upon our accomplishments and create a new chapter for this extraordinary institution.

"My north stars always have been: students at the center; academic excellence (in research, teaching, creative practice, and visionary discoveries); safe, welcoming and sustainable campuses; tackling grand challenges; and building ethical, human-centered and empathetic teams. With these principles in mind, over the last five years, we have created a forward- looking vision that will serve our students, faculty and staff well as they look to better the country and the world."

Folt joined USC in 2019 after leading the University of North Carolina at Chapel Hill for six years. She previously worked at Dartmouth College, where she served as interim president, provost, dean of faculty and a professor of biological sciences.

She was hired by USC at a time the university was reeling from a nationwide college-admissions cheating scandal that enveloped parents, athletic officials and coaches at various institutions, with students purportedly being admitted to colleges with athletic scholarships despite having never played their claimed sports.

The university had also been rocked by the criminal case involving longtime campus gynecologist George Tyndall, who was accused of sexual misconduct by hundreds of students. Many sued the university, contending campus leaders took no action in response to complaints about his actions. USC agreed to pay out hundreds of millions of dollars to settle class-action lawsuits against the university.

The scandal led to the departure in 2018 of USC President C.L. Max Nikias.

While stepping down as president, the 73-year-old Folt will remain with the university as a "tenured faculty member."

"For the next nine months, however, my team and I will be laser-focused on the business of running this great university, and ensuring a seamless transition for the new president," Folt wrote in her campus message. "And when Commencement comes in May, I will proudly salute our new graduates with an eye to the future and a heart filled with gratitude.

"I believe that USC's future burns bright, thanks to all of you. I want to express my appreciation for my extraordinary team of professional leaders, our generous philanthropists, the hundreds of volunteers and community leaders who advise our boards and centers, the elected officials who help drive higher education here and across the nation, and our Trojan Family — worldwide and lifelong — who love USC and have opened their arms to welcome me everywhere. I offer a special shoutout to the Presidential Working Group on Sustainability and thank them for the incredible progress USC has been making to become a leader in this critical area. Finally, I express my sincere appreciation to the USC Board of Trustees, with whom I have worked so closely."

Folt pointed to a series of accomplishments from her time as president, including "the $1 billion investment in Frontiers of Computing and USC's new School of Advanced Computing, Health Sciences 3.0, Athletics Reimagined, Sustainable Urban Futures, and USC Competes," along with upgrades to athletic facilities, the move of athletic programs out of the Pac-12 and into the Big Ten, and the opening of the university's Capital Campus in Washington, D.C.

Over the past year, however, Folt — like many university leaders nationwide — came under fire from some critics over the response to pro- Palestinian protests and encampments. Earlier this year, an encampment at Alumni Park on the USC campus last year was dismantled in a law enforcement operation that saw 93 arrests.

Continued unrest also led to upheaval in commencement proceedings, with the traditional main stage ceremony canceled and replaced with a celebratory event at Los Angeles Memorial Coliseum. The university also barred pro-Palestinian valedictorian Asna Tabassum from speaking at commencement activities, citing safety concerns.

The university also canceled plans to confer honorary degrees on recipients including filmmaker Jon Chu and tennis legend Billie Jean King.

Suzanne Nora Johnson, chair of the USC Board of Trustees, issued a statement Friday praising Folt's "exceptional tenure" as the university's 12th president.

"Carol was hired at one of the most important moments in the school's history, bringing her unique and significant experience as a university president and chancellor at two institutions of distinction," Johnson wrote. "Carol's leadership skills, and her innate ability to connect with community members on a personal level, have been on display throughout her tenure, and we are grateful for her commitment to our entire Trojan Family: students, faculty, staff, alumni, and our broader university community.

"While Carol's retirement marks a moment of transition for USC, thanks to her leadership the university is well positioned for the future. Her dedication to solving the difficult issues before her — whether past or present — have never impeded her focus on what lies ahead. Her keen strategic eye towards the future, and the groundbreaking initiatives she has launched as a result, will benefit both the current and next generations of Trojans, and undoubtably contribute to USC's long-term sustainable excellence."