Amid criticism, Harvard appoints two top business executives to board of directors

America’s oldest and richest school faces accusations of anti-Semitism.

Harvard University has appointed two senior business executives to its board of directors amid intense scrutiny and criticism of the institution from alumni, lawmakers and faculty.

With the approval of the supervisory board, former Merck & Co. CEO Kenneth Frazier and KKR & Co. Co. co-CEO Joseph Bae was elected by Harvard Corp. on Sunday. , the university’s interim president.

“They share a commitment to academic freedom, inclusivity and the pursuit of excellence in Harvard’s teaching and research mission,” said Garber, who succeeded Claudine Gay last month.

Fraser will become a Harvard Fellow on February 7, filling the vacancy left by private equity billionaire David Rubinstein in June 2023. Pei will become a fellow on July 1, when Madison Dearborn Partners Chairman Paul Finnegan departs at the Blackboard after 12 years.

The nation’s oldest and richest school has been dealing with accusations of anti-Semitism on campus since Oct. 7, weathered a donor revolt that showed no sign of abating and continues to face inquiries from two congressional committees as well as the Massachusetts The bill in Congress would tax its $51 billion in donations.

Gay, the university’s first black president, was forced to resign after she and her peers at Penn and MIT were widely mocked for their response to congressional hearings after being accused of plagiarism. Is it against school policy to call for the genocide of Jews?

Critics, including billionaire investor Bill Ackman, have broadened their attacks to include Harvard’s support of diversity, equity and inclusion efforts, selective enforcement of free speech, and university governance. Ackman had called on Penny Pritzker, a senior fellow at Harvard Corporation, to resign, but his attempts to recommend a slate of candidates to the supervisory board were unsuccessful. They reportedly failed to get enough votes to appear on the ballot.

Ken Griffin, one of Harvard’s largest donors, said last week he would no longer donate to the school unless he sees fundamental change, accusing Harvard and elite universities of creating “a snowflake of complaints” rather than America’s Future leaders.

“Where is education going in America’s elite schools?” Griffin told an investor conference in Miami, questioning whether Harvard can reprioritize. “Or will they continue to get lost in a wilderness of microaggressions and a DEI agenda that seems to have no real endgame.”

Frazier and another Harvard company member, former American Express president Ken Chenault, now work at venture capital firm General Catalyst.

Fraser, a graduate of Harvard Law School, has touted his commitment to social justice and economic inclusion. He also co-founded OneTen, which partners with companies to help 1 million Black Americans find jobs and pay a family-sustaining wage.

Bae, a Harvard graduate, joined KKR in 1996 and rose through the ranks until becoming co-CEO in 2021. He serves on the board of directors of the Asian American Foundation and co-led a group that donated $45 million to Harvard’s School of Liberal Arts and Arts. Expanding the science of Asian American studies.

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