Durham, N.C. — Durham City Manager Patrick Baker on Tuesday accepted the resignation of Kenneth Pennoyer, who has served as the city’s finance director since 2003 and assistant director since 1999.

Pennoyer will start a new position as the business management director for the Town of Chapel Hill Feb. 4.

As finance director, he was responsible for the divisions of accounting, customer and billing services, duplicating and graphics, purchasing, risk management and treasury.

Pennoyer’s last day with the City is Jan. 29. Baker plans to name an interim within the next two weeks.

“Ken has served the city well,” Baker said. “In addition to ensuring the city’s Triple A bond rating with all three ratings agencies, Ken was instrumental in the city’s economic development negotiations over the past few years, particularly the Durham Performing Arts Center and other major downtown projects. He also led preparations for the city’s two successful bond referenda in 2005 and 2007. We will miss him, and wish him the best in his new position.”