|By PR Newswire||
|December 18, 2012 07:05 PM EST||
UNIVERSITY PARK, Pa., Dec. 18, 2012 /PRNewswire/ -- Penn State's Board of Trustees Chairman, Karen B. Peetz, will not seek re-election as chairman due to her appointment as president of BNY Mellon, James S. Broadhurst, chairman of the Board's Committee on Governance and Long-Range Planning, today announced.
Broadhurst's statement follows a Dec. 15 announcement by BNY Mellon that Peetz will become president of the 228-year-old historic institution effective Jan. 1, 2013. She is currently vice chairman and CEO of Financial Markets and Treasury Services.
BNY Mellon is a global financial services company with $27.9 trillion in assets under custody and administration, and $1.4 trillion in assets under management. It services $11.6 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day.
"While on the Board, and especially during her tenure as chairman, Karen faced the toughest of challenges and led the board to make the right choices for the future of Penn State," Broadhurst said. "Karen's leadership as chairman will be missed, but we are all pleased she will continue to serve on the Board and has offered to remain chair of both the Trustee Presidential Search Council and the Blue & White Vision Council."
"At all times, and particularly now, our University needs a chairman with the ability to commit virtually unlimited time and energy to guiding this great institution to its promising future. The new, significantly broader responsibilities I am assuming at BNY Mellon preclude me from dedicating myself fully to Penn State right now," Peetz explained.
"The Penn State Board possesses many very capable leaders, and I am gratified our Vice Chairman Keith Masser has indicated his interest and willingness to stand for election as chairman," she said.
Board of Trustee bylaws specify officers are to be chosen each year, in January, by ballot of the members of the Board present at the meeting. Officers serve for a period of one year, with a maximum of three years. Historically, the vice chairman is elected chairman of the Board upon completion of the term of the sitting chairman. The election of a new chairman and other officers will occur at the next Board of Trustees meeting on Jan. 17-18, 2013.
Karen Peetz Tenure (Jan. 20, 2012 – Jan. 18, 2013)
As chairman, Peetz focused on changes and enhancements to the University's governance and strengthening the institution for the future.
During her tenure the Board made changes to broaden representation and improve transparency, including expansion of Board committees and the addition of faculty, staff, students and alumni as non-voting members.
All Trustee meetings for all topics, except legal issues or sensitive human resources subjects, became public; and recent meetings featured specific time for a public question-and-comment period.
Peetz also successfully guided the University's implementation of the interim recommendations of the Freeh Report; and established integrated working groups of Board members, faculty, staff and students to evaluate for implementation the report's 119 final recommendations for implementation.
Under her guidance and direction, the University began to dramatically enhance its management infrastructure with the appointments of new chief financial and legal officers, and for the first time, a chief compliance officer.
In November she announced the commencement of the search for a new University president. Current University President Rodney Erickson announced he would retire on June 30, 2014, or before, if the search is successfully concluded before that date.
With the counsel and assistance of Stanley Ikenberry, former president of the American Council on Education and past president of the University of Illinois and current senior fellow at Penn State, Peetz established the Penn State Blue & White Vision Council.
The council, comprised of student, faculty, staff, academic and campus leaders, as well as representatives from Penn State Hershey Medical Center and the Board of Trustees, will identify key strategic challenges and opportunities facing the University over the next several years. This work is expected to continue to inform the skills and attributes required for the new president.
Background Information: Karen Peetz
Karen Peetz is a 1977 graduate of Penn State, where she was a student-athlete, competing in lacrosse and field hockey. She is the president of BNY Mellon, having joined the company in 1998.
She is chair of BNY Mellon's Women's Initiatives Network and in 2011 was named the most powerful woman in banking by American Banker. She is on the board of directors for SIFMA, the Private Export Funding Corporation (PEFCO), and SunCoke Energy. Before joining BNY Mellon, Peetz spent 16 years with JPMorgan Chase in a variety of sales and business management positions.
Other Background Information
James S. Broadhurst, is chairman, Eat'n Park Hospitality Group Inc. The company started as a single car-hop style restaurant in Pittsburgh in 1949 and has grown into a portfolio of regional foodservice concepts focused on personalized dining. It now serves more than 50 million guests every year.
Keith E. Masser, chairman and chief executive officer, Sterman Masser Inc. Sterman Masser Inc. is a family-owned potato farming company in the Pennsylvania Dutch region of the Hegins and Lykens valleys. It combines eight generations of potato farming experience with today's newest potato farming technology to meet the demands of modern business. The potato packaging and warehouse operations pack and distribute more than 250 million pounds of potatoes each year.
The Pennsylvania State University is a state-related, land-grant university located in the Commonwealth of Pennsylvania. Founded in 1855 as an agricultural college, Penn State received university status in 1953. Penn State has 24 campuses throughout Pennsylvania, including undergraduate locations as well as special-mission campuses such as the College of Medicine in Hershey and the Penn State Law School. The Penn State World Campus is the University's online distance education component.
In total, Penn State serves more than 95,000 students. The University awards more associate, bachelor's and graduate degrees than any other institution in the Commonwealth, and has a research enterprise in excess of $805 million. Its mission is to improve the lives of the people of Pennsylvania, the nation and the world through integrated, high-quality programs in teaching, research and service.
SOURCE Pennsylvania State University
Fact: storage performance problems have only gotten more complicated, as applications not only have become largely virtualized, but also have moved to cloud-based infrastructures. Storage performance in virtualized environments isn’t just about IOPS anymore. Instead, you need to guarantee performance for individual VMs, helping applications maintain performance as the number of VMs continues to go up in real time. In his session at Cloud Expo, Dhiraj Sehgal, Product and Marketing at Tintri, sha...
Dec. 5, 2016 11:45 AM EST Reads: 881
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
Dec. 5, 2016 11:38 AM EST
Businesses and business units of all sizes can benefit from cloud computing, but many don't want the cost, performance and security concerns of public cloud nor the complexity of building their own private clouds. Today, some cloud vendors are using artificial intelligence (AI) to simplify cloud deployment and management. In his session at 20th Cloud Expo, Ajay Gulati, Co-founder and CEO of ZeroStack, will discuss how AI can simplify cloud operations. He will cover the following topics: why clou...
Dec. 5, 2016 11:30 AM EST Reads: 758
CloudJumper, a Workspace as a Service (WaaS) platform innovator for agile business IT, has been recognized with the Customer Value Leadership Award for its nWorkSpace platform by Frost & Sullivan. The company was also featured in a new report(1) by the industry research firm titled, “Desktop-as-a-Service Buyer’s Guide, 2016,” which provides a comprehensive comparison of DaaS providers, including CloudJumper, Amazon, VMware, and Microsoft.
Dec. 5, 2016 11:30 AM EST Reads: 750
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 5, 2016 11:15 AM EST Reads: 929
"Qosmos has launched L7Viewer, a network traffic analysis tool, so it analyzes all the traffic between the virtual machine and the data center and the virtual machine and the external world," stated Sebastien Synold, Product Line Manager at Qosmos, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 5, 2016 11:00 AM EST Reads: 659
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
Dec. 5, 2016 10:30 AM EST Reads: 621
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform and how we integrate our thinking to solve complicated problems. In his session at 19th Cloud Expo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and sh...
Dec. 5, 2016 10:30 AM EST Reads: 247
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, attendees learned about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how ...
Dec. 5, 2016 10:15 AM EST Reads: 951
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 5, 2016 09:15 AM EST Reads: 886
Application transformation and DevOps practices are two sides of the same coin. Enterprises that want to capture value faster, need to deliver value faster – time value of money principle. To do that enterprises need to build cloud-native apps as microservices by empowering teams to build, ship, and run in production. In his session at @DevOpsSummit at 19th Cloud Expo, Neil Gehani, senior product manager at HPE, discussed what every business should plan for how to structure their teams to delive...
Dec. 5, 2016 09:15 AM EST Reads: 1,415
"We are a modern development application platform and we have a suite of products that allow you to application release automation, we do version control, and we do application life cycle management," explained Flint Brenton, CEO of CollabNet, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Dec. 5, 2016 08:45 AM EST Reads: 821
We are always online. We access our data, our finances, work, and various services on the Internet. But we live in a congested world of information in which the roads were built two decades ago. The quest for better, faster Internet routing has been around for a decade, but nobody solved this problem. We’ve seen band-aid approaches like CDNs that attack a niche's slice of static content part of the Internet, but that’s it. It does not address the dynamic services-based Internet of today. It does...
Dec. 5, 2016 07:30 AM EST Reads: 997
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
Dec. 5, 2016 07:30 AM EST Reads: 7,056
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web ...
Dec. 5, 2016 07:15 AM EST Reads: 1,296