‘More Open And Diverse’: Harvard’s Outgoing President On A Decade Of Change

Faust’s presidency is winding down as Lawrence S. Bacow, former president of Tufts University, prepares to succeed her July 1. There was much more to her tenure than financial crisis and recovery. But grappling with the fallout of the crisis meant scrutiny of the university’s workings and where they may have failed. One key outcome, Faust said, was the first change in governance for Harvard since 1650. The governing board known as the Harvard Corp. nearly doubled in size, from seven members to 13 (including the president) under an overhaul announced in 2010. In addition, term limits were set, and new committees were established to strengthen the board’s financial oversight.