The Chicago-based Poetry Foundation -- which publishes the venerable Poetry magazine and is swimming in cash after a 2001 bequest of $200 million from philanthropist Ruth Lilly -- has named a new president. Robert Polito, who'll succeed the foundation's retiring chief John Barr, officially starts on July 8. Whereas the Lisle-bred Barr is a poet, Vietnam vet and former Wall Street finance guy, Polito, 62, comes to the PF after more than two decades as director of Creative Writing at the New School in New York City. He's also a respected writer whose poetry and prose often deals with pop culture subjects. Oh, and he has a PhD in English, American language and literature from Harvard University.