The University of Hawaii Board of Regents has three new leaders.

The board voted for Eric Martinson as its new chairman during its meeting Thursday. Carl Carlson and James Lee were elected vice chairmen.

All three will serve one-year terms starting July 1.

Martinson joined the board in 2009 and has 25 years of institutional investment and asset management experience. He replaces Chairman Howard Karr, whose term ends this year.

Carlson is the founder of real estate consulting and agricultural property management firm Huehue Ventures.

Lee is a partner in the Honolulu law firm of Devens, Nakano, Saito, Lee, Wong and Ching.

The Hawaii Legislature created the two new vice chair positions of equal rank that will be occupied by Carlson and Lee.

Dennis Hirota is the current vice chairman.