After more than five decades heading his own literary agency, Aaron Priest has officially retired from the firm he founded in 1974. With his retirement, senior agent Mitch Hoffman has taken over as owner of the Aaron Priest Literary Agency and has taken on the role of president.

Since launching the boutique agency, Priest has overseen the careers of such authors as Erma Bombeck, David Baldacci, Philip Caputo, Robert Crais, Heather Graham, Brenda Joyce, Johanna Lindsey, and Robert James Waller. He was a founding member of ILAA (Independent Literary Agents Association), now the Association of American Literary Agents. In 2014, Priest was a producer of the Broadway musical, The Bridges of Madison County, based on Waller’s bestselling novel.

“Several years ago, I realized that I wasn’t going to work forever,” Priest said in announcing his retirement. “After founding the agency in 1974 and being proud of the reputation it’s earned, I knew, after 50 years, it was time to pass the torch. I worked with Mitch as an editor and knew that he is forthright, very knowledgeable about the book business and a good and honorable man. He was the right fit to take over the agency.”

Despite the change in ownership and leadership, the firm will continue to be known as the Aaron Priest Literary Agency. Hoffman joined the agency in December 2015 after a career in publishing that included a stint as VP and executive editor at Grand Central Publishing. Before joining the Priest Agency, Hoffman worked with several of its best-known clients, including David Baldacci and Harlan Coben.

“Aaron built this agency on a simple philosophy: to represent a select group of writers, focusing on delivering a high level of client service,” Hoffman said in a statement. “It’s no accident that we have represented many clients for the entirety of their careers. We have a 50-year tradition of consistent success built on this approach, which we will carry forward.”

With the exception of the promotion of Natalie Rosselli to associate agent, no other changes are planned at the agency.