Former Iowa Lt. Gov. Adam Gregg will succeed John Sorensen as president and CEO of the Iowa Bankers Association, the organization said Tuesday.

The announcement of Gregg’s appointment to run the state’s industry association for banks and savings institutions came moments after Iowa Gov. Kim Reynolds’ office released a statement detailing the lieutenant governor’s decision to step down “to pursue a career opportunity that allows him to focus more on his family.”

Gregg will officially take the helm at the IBA on Oct. 1 to allow time for a transition, according to a news release. Sorensen will retire at the end of the year after 38 years with the organization and 28 years as president and CEO.

“We are excited to welcome Adam as our next president and CEO,” IBA chair and Bank Midwest President and CEO Mary Kay Bate said in a prepared statement. “In his role as lieutenant governor, he has traveled to all 99 counties and worked with local leadership to build strong communities – a key role of Iowa’s banking industry. He is a person of great integrity who, like our member banks, has demonstrated a commitment to making Iowa a better place to live, work and bank. Adam and our exceptional team of volunteer leaders and staff will continue a proud 137-year tradition of contributing to member success.”

Iowa Code allows for the governor to fill a vacancy in the lieutenant governor’s office through appointment. According to a news release, Reynolds intends to make an appointment later this fall and did not announce Gregg’s replacement Tuesday. The president of the Iowa Senate – a seat currently held by Sen. Amy Sinclair, R-Allerton – will be next in the line of succession until Reynolds names a new lieutenant governor.

Gregg’s resignation from the state was effective Tuesday.

In a written statement, Reynolds called Gregg “a tremendous partner and an important part of my team over the last seven years.”

“I greatly appreciate his service to Iowans,” Reynolds said in the prepared statement. “It comes as no surprise that he would choose to step down to prioritize his personal life. Adam is a devoted husband and father, and there is nothing more important to him than his family. Even as lieutenant governor, he has made time to coach his young son and daughter, be involved at their school, and participate together in church activities. This most certainly is the right decision for Adam, and I wish him, Cari and their children only the best.”

Gregg, a Republican, was named lieutenant governor in May 2017, when Reynolds entered the governor’s mansion after former Iowa Gov. Terry Branstad was appointed U.S. Ambassador to China by former President Donald Trump. Gregg has been elected to two terms as part of the Reynolds-Gregg gubernatorial ticket in 2018 and 2022.

Before he was lieutenant governor, Gregg was an attorney and policy adviser. He was the Republican nominee for Iowa Attorney General in 2014. Gregg lost to the then-incumbent Democrat Tom Miller.

Branstad appointed Gregg the state public defender in 2014. He graduated from Central College and Drake University Law School.

As lieutenant governor, Gregg has chaired the National Lieutenant Governors Association and the Feeding Iowans Task Force, and co-chaired the governor’s Empower Rural Iowa Initiative. He serves on the Hoover Presidential Foundation board of trustees.

“I am excited to join the dynamic team at the IBA as president and CEO,” Gregg said in a prepared statement released by the Iowa Bankers Association. “In my time as lieutenant governor, I found that for every good thing happening in our state, there was an Iowa bank backing it. Now I have the great honor to represent this industry, which is so critical to Iowa’s success. I’m grateful to the IBA board of directors for providing me this opportunity and for the strong foundation laid by John Sorensen in his 28 years leading the IBA.”

During Sorensen’s tenure, the IBA grew into the largest state banking association in the country, according to the release.