Actions from the Stated Meeting June 18

At the June 18 Stated Meeting, Penn's Board of Trustees wrapped up FY 1999 with a turnover in the chair (see story here) and other changes in leadership (see story here). They also acted on motions introduced by the Provost including the closing of Folklore (see story here); authorized operating and capital budgets for the University and the Health System (to be published); and passed a number of other actions summarized below.

The Trustees voted to name the Museum's new wing in honor of A. Bruce and Margaret R. Mainwaring (see story here), and to designate Dr. Sheldon Hackney President Emeritus (see story here). They passed a memorial resolution to the late D. Robert Yarnall, and resolutions of appreciation to to Deans Colin Diver of Law and Thomas Gerrity (see story here) and retiring treasurer Scott Lederman. Dr. Gloria Chisum's resolution of appreciation to Dr. P. Roy Vagelos on the completion of his term as Chair of the Trustees drew prolonged applause from members and observers.

One resolution, presented by Dean William Kelley of the School of Medicine, expressed to the faculty, students, trainees and staff of the School the Trustees' "deep appreciation for a job well done and their admiration for all of the extraordinary efforts made during the past year" to reach the number two position in NIH funding and to have 12 departments ranked in the nation's top five--more than any other medical school in the nation.

Capital Development: In line with the new Capital Plan outlined during a committee meeting (scheduled for future summary in Almanac*), the Trustees voted to create a Civic Center Development Corporation (CCDC), as a non-profit corporation involving the University, CHOP, and any other required parties; to acquire with CHOP a $5 million parcel of the former Civic Center site; and to demolish the vacant Exhibition Hall and Center Hall structures, at $13 million, to make way for a proposed Penn/CHOP parking facility. They also authorized the acquisition of the 3401 Chestnut site, at $8.2 million, where a multiuse high-rise building is planned.

Additional resolutions cover the renovation of the Tandem Building for the Office of Environmental Health and Radiation Safety, at $2.4 million; the construction of a chilled water line, estimated to cost $1.5 million; and renovations to provide for Sports Medicine in Weightman Hall, $1.8 million.

Health System: Following up on a May action authorizing certain officers of the University to obtain a line or letter of credit to provide liquidity to secure variable rate bonds issued by Pennsylvania Higher Educational Facilities Authority for the benefit Penn Health Services, the Trustees created a new ad hoc committee, (consisting of Trustees Robert A. Fox, Russell E. Palmer, James S. Riepe and Lawrence A. Weinbach) to act on behalf of the University in connection with obtaining lines or letters of credit for variable rate bonds issued for the Health Services. The Executive Vice President, Vice President for Finance or Treasurer are also authorized and empowered to sign documents and take actions as shall be directed by the Committee.

Chairing Health System: In addition to becoming Vice Chair of the Trustees (below), Mr. Palmer was named Chair of the Trustee Board of the University of Pennsylvania Health System, the Health System Trustee Board Executive Committee, and the University of Pennsylvania Medical Center Trustee Board, for a three-year term beginning June 18, 1999.

The membership of the Trustee Board of Clinical Care Associates of the Penn Health System was also named: Dr. Ronald B. Barg, Robert J.Butera, Esq., Richard J. Censits, Dr. Joel Eisner, Anthony S. Minisi, Esq., and, as ex officio membrs, Dr. I. William Ferniany, Dr. William N. Kelley, John C.S. Kepner, Esq., Dr. David E. Longnecker, Kevin B. Mahoney and Dr. Robert D. Martin.

Vice Chairs: Mrs. Catherwood,

Dr. Chisum, Mr. Palmer

In addition to electing James Riepe as the new board chair, the Trustees reelected its two longtime vice chairs--Mrs. Susan Catherwood and Dr. Gloria Twine Chisum--and added a third, former Wharton School Dean Russell Palmer, for transition as Dr. Chisum approaches retirement.

Mr. Palmer, a member of the Trustees Executive Committee, led the School between 1983 and 1991. He has since formed the Palmer Group, which buys and develops companies, and joined several major corporate and other boards.

The trustees also elected Mrs. Natalie I. Koether as a charter trustee, and reelected Stephen A. Wynn as a term trustee.

Other key roles filled in the Trustees structure include:

Executive Committee: Gilbert F. Casellas, Susan W. Catherwood, Gloria Twine Chisum, Elsie Sterling Howard, Paul K. Kelly, Natalie I. Koether, Leonard A. Lauder, William L. Mack, Andrea L. Mitchell, John B. Neff, Ronald O. Perelman, Russell E. Palmer, James S. Riepe (chair), Alvin V. Shoemaker, Saul P. Steinberg, Michael L. Tarnopol, and Lawrence A. Weinbach.

Investment Board: Geoffrey Boisi, Christopher H. Browne, Howard Marks, Paul F. Miller, Jr., Myles H. Tanenbaum, Mark Winkelman, and Richard B. Worley (chair).

Chairs of Boards of Overseers:

Judge Marjorie O. Rendell (CW '69), for the School of Nursing.

Christopher Browne (C '69), general partner of Tweedy, Browne Company L.P. and of TBK Partners, L.P., for the School of Arts and Sciences.

Christine C. Connelly, president and CEO of Bright View Farm, Inc., for the School of Veterinary Medicine, with Lynda Barness (G '72), president of The Barness Organization, as vice chair.

Jon M. Huntsman, (W '59, Hon '96), chairman and CEO of Huntsman Chemical Corporation, for the Wharton School.

Gilbert F. Casellas, (L '77) president and CEO of The Swarthmore Group, to continue for the School of Social Work.

Alvin V. Shoemaker, (W '60, H '95), a private investor, for the Athletics Advisory Board.

John C. Hover, (C '65, WG '67), recently reitred EVP for Personal Asset Management and Private Banking with U.S. Trust Company, for the University Museum.

Lawrence Schoenberg, (C '53, WG '56), founder and former CEO of AGS Computers, Inc., for the University Libraries.

* Dean Lee Stetson's report on admissions is also scheduled for fall publication.

Almanac, Vol. 46, No. 1, July 13, 1999