Current Board of Trustees Chair Karen Peetz will not seek reelection to that leadership position for the next term, per a release from Penn State. Peetz still plans to remain an active member of the board, but cited her recent appointment as president of the Bank of New York Mellon as the reason for her decision.
“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,” said James S. Broadhurst, chairman of the Board’s Committee on Governance and Long-Range Planning. “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.”
Current Board of Trustees vice chairman Keith Masser is Peetz’s likely successor, and intends to run for the position at the next meeting on January 18 according to the release. Board chairs serve one year terms, but historically most serve for multiple years.
“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.”
Peetz, a 1977 graduate of Penn State, has been maligned in the Penn State community during her term, which oversaw the Freeh Report and NCAA sanctions. Many Penn State alumni and supports have attacked her for not properly standing up for the university during those two specific instances and beyond.
Indeed, this website has been critical of her perceived inability to follow through with promises. Her robotic and overly calculated delivery style and unwillingness to be straightforward with many of the aforementioned issues will not be missed by at least the most vociferous in the Penn State community.