Management Company CEO Takes Temporary Medical Leave

UPDATED: May 23, 2016, at 12:05 p.m.

Harvard Management Company CEO Stephen Blyth will take a temporary medical leave of absence starting May 23, the University announced Monday.

Robert A. Ettl, HMC’s Chief Operating Officer who joined the company in 2008, will serve as the interim CEO of Harvard’s investment arm.

Stephen Blyth. By Muhammad H Tahir

Blyth’s absence comes in the middle of his second year at the helm of HMC, which manages Harvard’s $37.6 billion endowment. Under Blyth’s tenure, HMC has taken a number of steps to change its investment strategies and match returns that peer institutions earn on their endowments. In the last few years, Harvard’s endowment has grown at a slower rate than the investment pools of several peer institutions, including Princeton, MIT, and Yale.

“We have a highly-experienced executive team at HMC and, together with Bob, they will provide strong leadership in Stephen's absence” Paul J. Finnegan, Chair of HMC’s Board of Directors and the treasurer of the Harvard Corporation, the University’s highest governing body, wrote in a statement. “We look forward to Stephen's return to the company, and wish him well as he returns to full health."

The University has not specified a reason for the medical leave of absence.

Check thecrimson.com for more updates.