Metropolitan Museum of Art's president announces retirement, plans to step down in early 2015

The president of the Metropolitan Museum of Art, one of the largest art museums in the world, on Tuesday announced her retirement.

Emily Rafferty, who started working at the museum in 1976 and has been its president since 2005, said she would step down at the end of March 2015. She said she felt "very confident" this was the right time.

"It's a good time as we complete a number of projects here," such as a new plaza, new galleries and an expansion of the museum's hours to seven days a week, she said.

"From soup to nuts, I feel that this museum is in tremendously good hands," she said.

Rafferty, who's 65, said future capital plans would benefit from having a president who would be able to oversee them from start to finish.

The museum's director, Thomas Campbell, said in the official announcement of Rafferty's retirement that "few people have had a greater impact on this museum than she has. Over nearly 40 years, Emily has grown with the Met, rising to its challenges through the decades."

Rafferty started working at the museum, whose collection includes more than 2 million artworks, as an administrator in the development department. She later served as vice president for development and senior vice president for external affairs before becoming president.

Rafferty also is chairwoman of the city's tourism agency, NYC & Company, and chairwoman of the board of the Federal Reserve Bank of New York. She said she hasn't made any decisions about those roles.