|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
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Nov. 28, 2014 05:00 PM EST Reads: 1,309
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water, are pursuing SmartGrid initiatives that represent one of the more mature examples of SAE. We have s...
Nov. 27, 2014 04:00 PM EST Reads: 1,374
The security devil is always in the details of the attack: the ones you've endured, the ones you prepare yourself to fend off, and the ones that, you fear, will catch you completely unaware and defenseless. The Internet of Things (IoT) is nothing if not an endless proliferation of details. It's the vision of a world in which continuous Internet connectivity and addressability is embedded into a growing range of human artifacts, into the natural world, and even into our smartphones, appliances, and physical persons. In the IoT vision, every new "thing" - sensor, actuator, data source, data con...
Nov. 27, 2014 04:00 PM EST Reads: 1,716
The Internet of Things is tied together with a thin strand that is known as time. Coincidentally, at the core of nearly all data analytics is a timestamp. When working with time series data there are a few core principles that everyone should consider, especially across datasets where time is the common boundary. In his session at Internet of @ThingsExpo, Jim Scott, Director of Enterprise Strategy & Architecture at MapR Technologies, discussed single-value, geo-spatial, and log time series data. By focusing on enterprise applications and the data center, he will use OpenTSDB as an example t...
Nov. 27, 2014 03:00 PM EST Reads: 1,522
How do APIs and IoT relate? The answer is not as simple as merely adding an API on top of a dumb device, but rather about understanding the architectural patterns for implementing an IoT fabric. There are typically two or three trends: Exposing the device to a management framework Exposing that management framework to a business centric logic Exposing that business layer and data to end users. This last trend is the IoT stack, which involves a new shift in the separation of what stuff happens, where data lives and where the interface lies. For instance, it's a mix of architectural styles ...
Nov. 27, 2014 03:00 PM EST Reads: 1,383
An entirely new security model is needed for the Internet of Things, or is it? Can we save some old and tested controls for this new and different environment? In his session at @ThingsExpo, New York's at the Javits Center, Davi Ottenheimer, EMC Senior Director of Trust, reviewed hands-on lessons with IoT devices and reveal a new risk balance you might not expect. Davi Ottenheimer, EMC Senior Director of Trust, has more than nineteen years' experience managing global security operations and assessments, including a decade of leading incident response and digital forensics. He is co-author of t...
Nov. 27, 2014 01:00 PM EST Reads: 1,714
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
Nov. 27, 2014 11:00 AM EST Reads: 1,330
The Internet of Things will put IT to its ultimate test by creating infinite new opportunities to digitize products and services, generate and analyze new data to improve customer satisfaction, and discover new ways to gain a competitive advantage across nearly every industry. In order to help corporate business units to capitalize on the rapidly evolving IoT opportunities, IT must stand up to a new set of challenges. In his session at @ThingsExpo, Jeff Kaplan, Managing Director of THINKstrategies, will examine why IT must finally fulfill its role in support of its SBUs or face a new round of...
Nov. 27, 2014 10:00 AM EST Reads: 1,269
One of the biggest challenges when developing connected devices is identifying user value and delivering it through successful user experiences. In his session at Internet of @ThingsExpo, Mike Kuniavsky, Principal Scientist, Innovation Services at PARC, described an IoT-specific approach to user experience design that combines approaches from interaction design, industrial design and service design to create experiences that go beyond simple connected gadgets to create lasting, multi-device experiences grounded in people's real needs and desires.
Nov. 27, 2014 08:00 AM EST Reads: 1,294
Enthusiasm for the Internet of Things has reached an all-time high. In 2013 alone, venture capitalists spent more than $1 billion dollars investing in the IoT space. With "smart" appliances and devices, IoT covers wearable smart devices, cloud services to hardware companies. Nest, a Google company, detects temperatures inside homes and automatically adjusts it by tracking its user's habit. These technologies are quickly developing and with it come challenges such as bridging infrastructure gaps, abiding by privacy concerns and making the concept a reality. These challenges can't be addressed w...
Nov. 27, 2014 07:45 AM EST Reads: 1,569
The Domain Name Service (DNS) is one of the most important components in networking infrastructure, enabling users and services to access applications by translating URLs (names) into IP addresses (numbers). Because every icon and URL and all embedded content on a website requires a DNS lookup loading complex sites necessitates hundreds of DNS queries. In addition, as more internet-enabled ‘Things' get connected, people will rely on DNS to name and find their fridges, toasters and toilets. According to a recent IDG Research Services Survey this rate of traffic will only grow. What's driving t...
Nov. 27, 2014 07:00 AM EST Reads: 1,538
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using the URL as a basic building block, we open this up and get the same resilience that the web enjoys.
Nov. 27, 2014 06:45 AM EST Reads: 1,434
Connected devices and the Internet of Things are getting significant momentum in 2014. In his session at Internet of @ThingsExpo, Jim Hunter, Chief Scientist & Technology Evangelist at Greenwave Systems, examined three key elements that together will drive mass adoption of the IoT before the end of 2015. The first element is the recent advent of robust open source protocols (like AllJoyn and WebRTC) that facilitate M2M communication. The second is broad availability of flexible, cost-effective storage designed to handle the massive surge in back-end data in a world where timely analytics is e...
Nov. 27, 2014 06:45 AM EST Reads: 1,374
We are reaching the end of the beginning with WebRTC, and real systems using this technology have begun to appear. One challenge that faces every WebRTC deployment (in some form or another) is identity management. For example, if you have an existing service – possibly built on a variety of different PaaS/SaaS offerings – and you want to add real-time communications you are faced with a challenge relating to user management, authentication, authorization, and validation. Service providers will want to use their existing identities, but these will have credentials already that are (hopefully) i...
Nov. 27, 2014 04:00 AM EST Reads: 1,282
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Nov. 27, 2014 04:00 AM EST Reads: 1,239
P2P RTC will impact the landscape of communications, shifting from traditional telephony style communications models to OTT (Over-The-Top) cloud assisted & PaaS (Platform as a Service) communication services. The P2P shift will impact many areas of our lives, from mobile communication, human interactive web services, RTC and telephony infrastructure, user federation, security and privacy implications, business costs, and scalability. In his session at @ThingsExpo, Robin Raymond, Chief Architect at Hookflash, will walk through the shifting landscape of traditional telephone and voice services ...
Nov. 26, 2014 02:00 PM EST Reads: 1,659
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at Internet of @ThingsExpo, James Kirkland, Chief Architect for the Internet of Things and Intelligent Systems at Red Hat, described how to revolutioniz...
Nov. 24, 2014 07:00 PM EST Reads: 1,757
Bit6 today issued a challenge to the technology community implementing Web Real Time Communication (WebRTC). To leap beyond WebRTC’s significant limitations and fully leverage its underlying value to accelerate innovation, application developers need to consider the entire communications ecosystem.
Nov. 24, 2014 12:00 PM EST Reads: 1,653
The definition of IoT is not new, in fact it’s been around for over a decade. What has changed is the public's awareness that the technology we use on a daily basis has caught up on the vision of an always on, always connected world. If you look into the details of what comprises the IoT, you’ll see that it includes everything from cloud computing, Big Data analytics, “Things,” Web communication, applications, network, storage, etc. It is essentially including everything connected online from hardware to software, or as we like to say, it’s an Internet of many different things. The difference ...
Nov. 24, 2014 11:00 AM EST Reads: 1,790
Cloud Expo 2014 TV commercials will feature @ThingsExpo, which was launched in June, 2014 at New York City's Javits Center as the largest 'Internet of Things' event in the world.
Nov. 24, 2014 09:00 AM EST Reads: 1,819