It’s true. Here’s the email he sent to Stern students:

Dear Students,

In my seventh year as Dean of the Stern School, I have decided that it is time for the School to begin planning for leadership succession, and I have begun discussions with President Sexton about this process. I plan to remain Dean as long as is necessary for my successor to be put in place, certainly until the end of the current academic year and beyond as needed.

It has truly been an honor and a privilege to lead the School over the past seven years. I am immensely proud of the things we have achieved together, as a community. Our student culture is vibrant. Our administrative and professional staff continues to ensure that the student experience is a uniformly positive one, just as our faculty provides the rigorous education that will best prepare you for long and successful careers. Our intellectual resources are profound and rich, our endowment has grown significantly, our physical infrastructure is undergoing the biggest transformation since we moved to Washington Square. The Stern School has made a decisive commitment to global education. Other areas of the School—the Undergraduate College, the research centers and institutes, Executive Education, and faculty development are strong and vibrant. We have a shared vision of excellence and a shared culture of hard work, professionalism, and dedication. Thanks to you all, the Stern School is an extraordinary place, and it has been an immensely stimulating, gratifying, and humbling experience to lead it.

Every Dean builds on the accomplishments of his or her predecessors. I feel confident that our School will continue to be a strong and dynamic institution and that as our students, and soon, I hope, as our alumni, you will continue to build our reputation and make us proud of your accomplishments.

I look forward to continuing our work together, as we strive to make our School stronger than ever.