Martin Lipton will step down as chairman of NYU’s board of trustees next year, the New York Times reports.
“I am getting too old and have served too long,” Lipton told the Times this Friday.
Lipton, who has been head of the board of trustees for 16 years, will remain on the board, but in a lesser capacity, as one of the board’s 65 acting members. His exit from the leadership position comes at a critical moment of change for the University: Lipton and President John Sexton are two of NYU’s most powerful directors. But with Lipton stepping down next year, and Sexton following in 2016, the University will soon undergo a significant change in leadership.
Lipton’s resignation will also affect the decision of NYU’s next president. According to the Times, Sexton was Lipton’s “handpicked choice” for president in 2002. With Lipton absent from the next selection process, the board might take a different direction in selecting the next university president. Read more…