Trustees' Meeting: Elections, Appointments & Appreciation
At last month's Stated Meeting of the Trustees, James S. Riepe was reelected as chair of the Board and Russell E. Palmer and Susan W. Catherwood were reelected as vice chairs for another one year term ending June 30, 2001. Michael L. Tarnopol was elected a vice chair.
The following trustees were also elected to the Executive Committee: Christopher H. Browne, Gilbert F. Casellas, Paul K. Kelly, Natalie I. Koether, Leonard A. Lauder, William L. Mack, Andrea Mitchell, John B. Neff, Leonard Shapiro, Alvin V. Shoemaker, Saul P. Steinberg, Lawrence A. Weinbach, and George A. Weiss.
Resolutions of Appreciation
They passed several Resolutions for:
Election of Trustees
George A. Weiss was elected as a Charter Trustee. The following were elected as Term Trustees: Dr. Edward T. Anderson, James D. Dunning, Jr., Howard S. Marks, Dr. Stanley A. Prusiner and Dr. Michael D. Zisman.
Conflict of Interest and Compensation
The Conflict of Interest Policy has been amended and restated to make the policy more comprehensive and to ensure that the University is in compliance with the new intermediate sanctions regulations. The scope of the policy has been broadened to include members of the Trustees' Investment Board, as well as Emeritus and former Trustees for five years after their election to emeritus status or departure from the Board.
A new standing committee, the Compensation Committee, was established with responsibility both for providing oversight and review of the executive compensation process and for reviewing actual and perceived conflict of interest transactions involving trustees and statutory officers.
Michael J. Masch was appointed Vice President for Budget and Management Analysis effective July 1, 2000. The FY 2001 Operating Budgets for Penn and UPHS as well as the Capital Plans for both were approved.
Overseers and Boards
Mollie D. Slattery and Lynn H. Yeakel were appointed to the Board of Advisors of the Annenberg Center. David M. Silfen was appointed to the Board of Overseers of SAS. Sara S. Senior, Annette Merle-Smith and Charles K. Williams, II, were appointed at overseers emeriti of the Museum's board.
The Trustees passed a Memorial Resolution for Morton H. Wilner, trustee emeritus, who died on May 20 at the age of 91. After earning his B.S. in economics at Wharton, he took his law degree from Georgetown in 1934. He enlisted in the Army Air Corps at the start of World War II, rose to the rank of Major.
A founder of the Washington law firm of Wilner & Scheiner, he specialized
in communications and aerospace law. He became an alumni trustee, 1965-70,
and then a term trustee, 1970-78 before becoming an emeritus trustee.
Almanac, Vol. 47, No. 1, July 18, 2000