The Cato Institute Switches Out Captains

The libertarian Cato Institute, a think tank started in 1974 by the money of Charles Koch, is parting with its president and CEO of just two and a half years. John Allison, the former BB&T banker who took over Cato in a much-watched power struggle between donors and scholars, will retire, the think tank said Monday; Peter Goettler, a former managing director at Barclays Capital, will replace him.

Think-tank job maneuverings are not typically a cause for much media attention or existential dread. The 2012 fight to run Cato was an exception. David and Charles Koch had taken a hands-off approach to Cato in the decade previous. When William Niskanen, one of four shareholders, passed away, the Kochs surprised libertarians by suing for his shares to be handed back to the board. Ed Crane, who'd run Cato since the beginning, blew up at the news.