03/12/2014 02:56 EDT | Updated 05/12/2014 05:59 EDT

University of B.C. appoints new president to replace Stephen Toope

VANCOUVER - A man at the head of a firm that nurtures upcoming research and business innovators will be the new president of the University of B.C.

The university has announced that Avind Gupta, CEO and scientific director of the Canadian not-for-profit firm Mitacs (MY-tacs), will take over the top job as well the position of vice-chancellor.

Gupta succeeds Stephen Toope, who will wrap up eight years on the job on June 30.

The UBC board of governors made the appointment after an international search for a new president.

Board chairman John Montalbano says Gupta clearly stood out as the best choice to lead the university.

Gupta will be the university's 13th president and vice-chancellor since 1913.