Summers Taps Jay O. Light as Business School Dean

Jay O. Light, who has served as acting dean of Harvard Business School since last August, was tapped this afternoon to become the school’s permanent chief.

Faculty members yesterday expressed broad support for Light, a 64-year-old expert in finance and investment management who has spent more than half his life at Harvard.

When University President Lawrence H. Summers informed the faculty of Light’s appointment at a closed-door meeting this afternoon, the professors immediately rose for a standing ovation, according to Professor of Management Practice Arthur I. Segel ’73.

“He’s been there a long time and knows the school better than anyone. He’s brilliant, he’s humble, and he has extremely good communication skills,” Segel said of Light. “And this is really important—he’s an extremely good listener.”

Light said at a press conference this afternoon that he expects his tenure to follow a similar path to that of his predecessor, Kim B. Clark ’74, who resigned his post last summer after 10 years at the helm to assume the presidency of Brigham Young University-Idaho.

“I think there are going to be more similarities than differences,” Light said. Light, who is the Robinson professor of business administration, served as senior associate dean and director of planning and development under Clark.

Summers said at the press conference that Light “embodies what is best about the Harvard Business School.”

With today’s announcement, Summers has appointed seven major deans during his stormy five-year tenure—more than either of his two immediate predecessors did in their first half-decade.

Incoming Interim President Derek C. Bok, who led the University from 1971 to 1991, filled four of Harvard’s top deanships during his first five years in office. Neil L. Rudenstine—who led the University between Bok’s and Summers’ terms—tapped four deans to lead Harvard’s schools in his first half-decade in Massachusetts Hall.

Summers said that he had discussed Light’s appointment with Bok, who will take the reins of the University after Summers leaves the presidency at the end of June. Summers did not indicate the extent of Bok’s role in the decision-making process, but he did say that Light and Bok had also spoken before the announcement.

Most Business School professors were kept in the dark about Summers’ decision until moments before Summers announced his pick to the media.

Members of the committee that advised Summers on the dean selection were informed of his decision at a 2:30 p.m. meeting. The entire Business School faculty was invited to a 3 p.m. meeting, where Summers told them that he had selected Light to take the reins in a permanent capacity.

—Staff writer Madeline W. Lissner can be reached at mlissner@fas.harvard.edu.

—Staff writer Daniel J. T. Schuker can be reached at dschuker@fas.harvard.edu.