President and Fellows of Harvard College

The President and Fellows of Harvard College (also called the Harvard Corporation) is the smaller of Harvard University's two governing boards, the other being its Board of Overseers.

History

In 1650, at the request of Harvard President Henry Dunster, the Great and General Court of Massachusetts issued the body's charter, making it now the oldest corporation in the Americas; the subsequent Constitution of the Commonwealth of Massachusetts confirmed that, despite the change in government, the corporation would continue to "have, hold, use, exercise and enjoy" its property and legal privileges.[1] Although the institution it governs has grown into Harvard University (of which Harvard College is one of several components), the corporation's formal title remains "The President and Fellows of Harvard College".[2]

Presidents Josiah Quincy, Edward Everett, Jared Sparks, James Walker and Cornelius Conway Felton

The corporation was probably originally intended to be a body of the school's resident instructors, similar to the fellows of an Oxbridge college. However, it fell into the now-familiar American model of a governing board—an outside body whose members are not involved in the institution's daily life, which meets periodically to consult with the day-to-day head, the president (whom it appoints). The Corporation is self-perpetuating, appointing new members to fill its own vacancies as they arise.

For most of its history, the Corporation was consisted of six fellows in addition to the president. But after the abortive presidency of Lawrence Summers and a large endowment decline in 2008–2009, a year-long governance review was conducted. In December 2010, it announced that the Corporation's "composition, structure, and practices" would be greatly altered: the number of fellows would increase from seven to 13, with prescribed terms of service, and several new committees would endeavor to improve the group's integration with the activities of the University as a whole, especially its long-term planning.[3]

Current Fellows

There are currently thirteen members of the Corporation.

NameDegreeYear appointedOccupation
Lawrence BacowJD 1976, MPP 1976, PhD 19782011[4]President of Harvard University.
Timothy R. BarakettAB 1987, MBA 19932019[5]former CEO of Atticus Capital
Kenneth ChenaultJD 19762014[6]former CEO of American Express
Paul Finnegan, TreasurerAB 1975, MBA 19822012[7]co-CEO of Madison Dearborn Partners
Mariano-Florentino CuéllarAB 19932019[5]Justice of the Supreme Court of California
William F. Lee, Senior FellowAB 19722010co-managing partner at Wilmer Cutler Pickering Hale and Dorr
Carolyn MartinPhD 1985 (University of Wisconsin–Madison)2018[8]President of Amherst College
Karen MillsAB 1975, MBA 19772014[6]former Administrator of the U.S. Small Business Administration
Diana L. NelsonAB 19852018[9]chair of Carlson Holdings
Penny PritzkerAB 19812018[8]former United States Secretary of Commerce
David RubensteinJD 1973 (University of Chicago)2017co-CEO of The Carlyle Group
Shirley M. TilghmanLLD 2004 (Honorary)2017former president of Princeton University
Ted WellsJD 1976, MBA 19762013[10]partner at Paul, Weiss, Rifkind, Wharton & Garrison

References
  1. "Chapter V". Massachusetts Constitution.
  2. Chait, Richard P.; Daniel, D. Ronald; Lorsch, Jay W.; Rosovsky, Henry (May–June 2006). "Governing Harvard: A Harvard Magazine Roundtable". Harvard Magazine.
  3. "Governance Review Culminates in Changes to Harvard Corporation". Harvard Gazette. Harvard University. December 6, 2010. Retrieved December 6, 2010.
  4. "Three to join Harvard Corporation". Harvard Gazette. Harvard University. May 25, 2011. Retrieved June 15, 2015.
  5. "Two elected to Harvard Corporation". Harvard Gazette. Harvard University. February 11, 2019. Retrieved August 24, 2020.
  6. "Kenneth Chenault and Karen Gordon Mills to join Harvard Corporation". Harvard Gazette. Harvard University. February 10, 2014. Retrieved June 15, 2015.
  7. "Finnegan elected to Corporation". Harvard Gazette. Harvard University. May 23, 2012. Retrieved June 15, 2015.
  8. "Harvard Corporation elects two new members". Harvard Gazette. Harvard University. May 23, 2018. Retrieved October 20, 2018.
  9. "New Corporation member named". Harvard Gazette. Harvard University. February 10, 2020. Retrieved August 24, 2020.
  10. "Mathews and Wells elected to Harvard Corporation". Harvard Gazette. Harvard University. September 23, 2012. Retrieved August 24, 2020.
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