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MIT President to Step Down After 13 Years

MIT President to Step Down After 13 YearsCAMBRIDGE, Mass.
Dr. Charles M. Vest, the 15th president of the Massachusetts Institute of Technology, announced plans to step down from his post last month at a quarterly meeting of MIT’s board of trustees.
Vest, 62, who has led one of the most intense periods of change at MIT since the post-World War II years, said he was stepping down because “the time is fast approaching when MIT should benefit from the renewal that comes with selecting a new president and developing the next stage of its vision and programs.”
His resignation as president of one of the nation’s premier research universities becomes effective next fall or as soon as a successor is appointed to head the 142-year-old institution.
Dana Mead, chairman of the MIT Corporation (MIT’s board of trustees), praised Vest for a distinguished presidency marked by “vision, courage, integrity and an extraordinary sense of service to MIT and to the nation.
“He has had a transforming influence on the institute and is a powerful champion of the importance to our country and the world of science, technology and research.”
During Vest’s presidency, MIT has undertaken major innovations in education and research, developed strong ties with other academic, governmental and industrial organizations both in the United States and overseas, strengthened the diversity of its people and programs, and transformed its campus. The school’s endowment has grown from $1.4 billion to $5.1 billion, and $1.72 billion has been raised toward MIT’s $2 billion capital campaign. Eighteen of the 25 largest gifts from individuals in MIT’s history have been received during the Vest presidency.
An engineer and former university provost, Vest was appointed MIT president in 1990. In the past 100 years, only Karl Taylor Compton (1930-1948) has served longer as president of MIT.

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