The Kauffman Foundation announced the election of Thomas A. McDonnell as its new president and chief executive. The Kansas City, Mo.-based foundation funds and conducts research on the education and policies driving entre­pre­neur­ship.

Carl Schramm, current chief executive officer of the Kauffman Foundation, a nonprofit promoting entrepreneurship, talks about steps the U.S. government could take to create jobs. Schramm talks with Pimm Fox on Bloomberg Television's "Taking Stock." (Source: Bloomberg)

Janice Kreamer will replace McDonnell as chairman of the board. She has been a trustee since 2006 and was formerly the chief executive of the Greater Kansas City Community Foundation.

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