Richard, 42, will go on to serve as a special consultant to the tour and will also remain a member of the LPGA Tour Players Executive Committee through the end of this year. She is currently its vice president.
Richard won five events during her nearly two decades on the LPGA Tour, compiling more than $2.75 million in earnings along the way. She first won at the Rochester International in 1987 in just her second year on tour. Her latest title came at the 1997 Friendly's Classic.
'I wouldn't change a thing about my life on the LPGA Tour,' said Richard. 'The highs and the lows have all been part of what I consider an incredible journey, a once-in-a-lifetime opportunity. The LPGA has enriched my life beyond what I could have ever imagined when I first joined the Tour. I walk away from my competitive career so much richer for having been an LPGA player.'
Richard had her most successful year in 1991, when she won both the Women's Kemper Open and the Phar-Mor in Youngstown in sudden-death playoffs.