Harvard Chooses a Familiar Face

Harvard Business School named Jay O. Light its new dean on Apr. 24 after a nearly 10 month-long search. The message was loud and clear: HBS likes things the way they are.

As it turns out, the search committee that was seeking to replace Kim Clark didn't have to look far. Since last August, two months after Clark stepped down to head Brigham Young University-Idaho, Light has been serving as interim dean of HBS (see BW Online, 6/6/06, "Harvard's Case Study in Surprise").

Light, 64, has a 35-year history with HBS and is considered an expert in finance and investment management. During his tenure, he has held numerous faculty positions including chairman of the finance division, director of faculty planning, and, most recently, senior associate dean and director of planning and development, responsible for the school's strategic planning and new initiatives.

FACULTY'S THUMBS-UP.  As dean, Light inherits the nation's richest endowment, at nearly $2 billion, and an influential faculty that's arguably the best in business education. Dwight Crane, a longtime finance professor at HBS, says Light has won the support of his colleagues. "The senior faculty is quite pleased," he says.

In a statement from Harvard, President Lawrence Summers said HBS is in good hands with Light in charge. "The school will be well served by his leadership qualities, his deep knowledge of the school's distinctive character, and his devotion to keeping its programs fresh, forward-looking, and strong as HBS heads toward its second century…his collaborative work outlook and engagement with issues of university-wide significance will help strengthen Harvard as a whole."

When Summers announced Clark's departure last June, he indicated that the next dean would most likely come from within the school's ranks (see BW Online, 6/16/05, "Harvard B-School's Dean List").

"HE'S SURE-FOOTED."  That is why it's no surprise that Light got the call. Because of his outstanding work as interim dean, many saw the job as his even sooner. "He came in right away, and you knew he was in charge," says Crane. "He knows what he's doing." It's expected that Light will continue to increase the focus on global initiatives and build a strong faculty, which were already goals of the HBS community.

Even outside of Harvard, Light's hiring seems like a logical choice. "He's sure-footed and knows the school better than anyone," says Edward Snyder, dean of the University of Chicago's Graduate School of Business. "He's got the courage necessary to make changes at the school."

Now that he has the job for good, the academic community will watch how Light puts his own stamp on the school. It may not take long. After all, he already has a head start.