Punahou School’s longtime president, James Scott, announced Tuesday he plans to retire from the private school at the end of the 2018-19 school year.

“It is with deep gratitude to Punahou School for my experience over the past 23 years that I share my decision to retire,” Scott said in a statement.

A 1970 graduate of the school, Scott opened the 1994 school year as Punahou’s 16th president. He is credited with increasing access for students through an expanded financial aid program and building private-public partnerships to improve the local and national educational landscape.

“Along with the trustees, I am committed to ensuring financial access to a Punahou education for every admitted and continuing student through a robust financial aid program,” Scott said.

Kitty Sullivan Wo, chairwoman of Punahou’s board of trustees, thanked Scott for his service in a message to faculty, staff, parents and alumni.

“I wish to extend our deepest gratitude to Jim for his bold vision and educational thought leadership. The school is in the strongest position it has ever been,” she said. “Our priority will be to find a strong leader who can build on Jim’s legacy and deep aloha for our ohana.”

A timeline and plans to find Scott’s replacement will be released during the summer, the school said.