Click here to close now.


API Journal Authors: Liz McMillan, Elizabeth White, Jason Bloomberg, Carmen Gonzalez, AppDynamics Blog

News Feed Item

Penn State Board Chairman Appointed President Of BNY Mellon

---Does not seek re-election---

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, 2012Jan. 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

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

@ThingsExpo Stories
Cloud computing delivers on-demand resources that provide businesses with flexibility and cost-savings. The challenge in moving workloads to the cloud has been the cost and complexity of ensuring the initial and ongoing security and regulatory (PCI, HIPAA, FFIEC) compliance across private and public clouds. Manual security compliance is slow, prone to human error, and represents over 50% of the cost of managing cloud applications. Determining how to automate cloud security compliance is critical to maintaining positive ROI. Raxak Protect is an automated security compliance SaaS platform and ma...
Today air travel is a minefield of delays, hassles and customer disappointment. Airlines struggle to revitalize the experience. GE and M2Mi will demonstrate practical examples of how IoT solutions are helping airlines bring back personalization, reduce trip time and improve reliability. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Dr. Sarah Cooper, M2Mi’s VP Business Development and Engineering, explored the IoT cloud-based platform technologies driving this change including privacy controls, data transparency and integration of real time context with p...
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data shows "less than 10 percent of IoT developers are making enough to support a reasonably sized team....
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, demonstrated examples of com...
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningful and actionable insights. In his session at @ThingsExpo, Paul Turner, Chief Marketing Officer at...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and technology requirements that will drive the Internet of Things from hype to reality.
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessions, I wanted to share some of my observations on emerging trends. As cyber security serves as a fou...
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now all corporate assets – people, objects, and spaces – can share information about themselves and thei...
The cloud. Like a comic book superhero, there seems to be no problem it can’t fix or cost it can’t slash. Yet making the transition is not always easy and production environments are still largely on premise. Taking some practical and sensible steps to reduce risk can also help provide a basis for a successful cloud transition. A plethora of surveys from the likes of IDG and Gartner show that more than 70 percent of enterprises have deployed at least one or more cloud application or workload. Yet a closer inspection at the data reveals less than half of these cloud projects involve production...
Continuous processes around the development and deployment of applications are both impacted by -- and a benefit to -- the Internet of Things trend. To help better understand the relationship between DevOps and a plethora of new end-devices and data please welcome Gary Gruver, consultant, author and a former IT executive who has led many large-scale IT transformation projects, and John Jeremiah, Technology Evangelist at Hewlett Packard Enterprise (HPE), on Twitter at @j_jeremiah. The discussion is moderated by me, Dana Gardner, Principal Analyst at Interarbor Solutions.
Discussions of cloud computing have evolved in recent years from a focus on specific types of cloud, to a world of hybrid cloud, and to a world dominated by the APIs that make today's multi-cloud environments and hybrid clouds possible. In this Power Panel at 17th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the importance of customers being able to use the specific technologies they need, through environments and ecosystems that expose their APIs to make true change and transformation possible.
Too often with compelling new technologies market participants become overly enamored with that attractiveness of the technology and neglect underlying business drivers. This tendency, what some call the “newest shiny object syndrome” is understandable given that virtually all of us are heavily engaged in technology. But it is also mistaken. Without concrete business cases driving its deployment, IoT, like many other technologies before it, will fade into obscurity.
Microservices are a very exciting architectural approach that many organizations are looking to as a way to accelerate innovation. Microservices promise to allow teams to move away from monolithic "ball of mud" systems, but the reality is that, in the vast majority of organizations, different projects and technologies will continue to be developed at different speeds. How to handle the dependencies between these disparate systems with different iteration cycles? Consider the "canoncial problem" in this scenario: microservice A (releases daily) depends on a couple of additions to backend B (re...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound effect on the world, and what should we expect to see over the next couple of years.
Container technology is shaping the future of DevOps and it’s also changing the way organizations think about application development. With the rise of mobile applications in the enterprise, businesses are abandoning year-long development cycles and embracing technologies that enable rapid development and continuous deployment of apps. In his session at DevOps Summit, Kurt Collins, Developer Evangelist at, examined how Docker has evolved into a highly effective tool for application delivery by allowing increasingly popular Mobile Backend-as-a-Service (mBaaS) platforms to quickly crea...
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Day 2 Keynote at 17th Cloud Expo, Sandy Carter, IBM General Manager Cloud Ecosystem and Developers, and a Social Business Evangelist, wil...