Robert L. Culver is set to step down as president and CEO of MassDevelopment after a seven-year run.

While serving MassDevelopment, Culver earned acclaim for his role in the 4,400-acre Devens project and attracting Bristol-Myers Squibb and Evergreen Solar, which jointly employ nearly 1,000 workers, according to a statement. Culver also helped to rehabilitate and brand 1550 Main, a former federal building in downtown Springfield; finished the development of South Coast Research and Technology Park in Fall River, which houses a 60,000-square-foot research and development building and a 125,000-square-foot facility for area residents to work; and leveraged more than $9.5 billion in investment in the commonwealth since 2005 by financing or managing more than 1,250 projects statewide.

"I would like to thank Bob for his unwavering dedication to MassDevelopment and the commonwealth," said MassDevelopment Board Chair Gregory P. Bialecki. "His passion for rebuilding communities and providing economic opportunities throughout Massachusetts has made an indelible mark on this state."

"Leading the MassDevelopment team has been an honor and a rare privilege; and I thank the governor for the opportunity to serve," said Culver. "I am proud to leave behind a strong, well-capitalized statewide organization ready to build on its impressive record of leveraging private investment to build homes, create jobs and reclaim blighted property around the commonwealth."

Culver will remain with MassDeveloment during the search for a successor.