|Trustees Annual Stated Meeting Coverage
July 16, 2013,
Volume 60, No.1
When the University of Pennsylvania Trustees held the annual stated meeting last month, they once again reelected David Cohen as chair of the board of trustees and David Silfen as vice chair for another year.
They also elected the remainder of the Executive Committee for a one-year term: Lee Spelman Doty, Jay Fishman, Janet Haas, Andrew Heyer, Robert Levy, Andrea Mitchell, Egbert Perry, Julie Beren Platt, Andrew Rachleff, Mark Winkelman; and James Riepe from now until November 8, 2013.
They elected the following to the Investment Board for a one-year term: David Cohen (ex officio), Judith Bollinger, Perry Golkin, Joel Greenblatt, Amy Gutmann (ex officio), Robert Kapito, Robert Levy (chair), Andrew Rachleff (vice chair) and James Riepe.
The Trustees amended the Bylaws of Penn Medicine to include the Chester County Hospital and Health System and affiliates as Penn Medicine constituents.
In recognition of Lee Spelman Doty’s service as president of Penn Alumni for the past five years, a new Penn pennant pin was designed and distributed to the trustees, and a resolution of appreciation was passed, noting her history-making achievements.
A resolution of appreciation for Susan Catherwood was also passed, citing her four decades of productive engagement with Penn; and she was designed as an emerita trustee.
Kenneth Moelis was elected as a term trustee, Andrew Heyer was elected as a charter trustee and Daniel Och was reelected as a term trustee.
President Amy Gutmann presented a resolution of appreciation for Rebecca Bushnell for her “path-breaking” leadership as dean of SAS, 2005-2013. Dr. Gutmann called her a champion for integrating knowledge.
The Trustees then passed a resolution to appoint Steven Fluharty as dean of SAS (Almanac January 22, 2013).
Provost Vincent Price reported that more than 60 students are spending the summer conducting research around the world and other Penn students are involved in Arts Fund Projects locally and abroad. He announced the appointment of Anita Allen as vice provost for faculty.
EVP Craig Carnaroli gave the financial report and noted strong investment and operating performance. He said that in FY14 some pressure is anticipated on research due to the sequestration so it may be necessary to look for cost containment opportunities.
Larry Jameson, EVP for the Health System and dean of PSOM, gave the Penn Medicine report and noted that the incoming class has more men than women this time, including two Fulbright scholars.
Dean of Admissions Eric Furda reported that the Class of 2017 had a 12.2 percent admit rate and a yield of 64 percent.
Budget & Finance Committee resolutions included the approval of the FY2014 operating budget and the 2014 Capital Plan for the University and the Health System; the Next Generation Student System Release ($13.769 million); Richards C&D Tower renovations for the Center for Cognitive Neuroscience ($13.927 million); Mod 7 Chilled Water Plant expansion ($18.7 million); Neural Behavioral Science Building construction (additional $62 million).
The Law School will offer a new part-time degree, a masters in law, to benefit those who see the study of law as an adjunct to their main professional areas but do not intend to sit for a bar examination.
Numerous appointments were made to various boards of overseers and to the Penn Medicine Board.