New Haven, Conn.-April 12, 2004- The Yale School of Management announced today that Dean Jeffrey E. Garten will be stepping down in June 2005, after he completes his second five-year term as dean of Yale University's business school.
During Garten's tenure, which began in November 1995, the School has established the International Center for Finance at Yale, the International Institute for Corporate Governance, the Sachem Venture Capital Fund for projects in New Haven, and The Yale School of Management - The Goldman Sachs Foundation Partnership on Non-Profit Ventures. The number of student applications has increased 75% and the size of the faculty has grown by 42%. Alumni giving has increased from below 20% to 53% -- one of the highest giving rates of any business school.
In a letter sent today to students and alumni, Garten said:
"For me, it will have been ten extraordinary interesting years and a great privilege to have been involved with the wonderful students, faculty, staff, and alumni, as well as with colleagues of the broader university. I am, in particular, most grateful for the unswerving support of President Levin and the past and present provosts during this time. For the School, which rests on a very strong foundation these days, there is now a special opportunity to bring in someone who can build on the current dynamism and momentum at (Yale) SOM and take it to even greater heights."
Yale President Richard Levin issued a statement, in it he recounted some of the highlights of Garten's tenure at Yale. "As Jeff Garten announces his intention to step down after ten years of service," he wrote, "we can all share his pride in what has been accomplished. Today, the SOM community is vital and vigorous, the faculty is strong and productive, and the alumni are engaged and supportive. The School is on course to take its place among the world's leading institutions for management education and research."
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