Riepe: Technology a priority

At their annual summer meeting, the University Trustees named James Riepe, vice chairperson of the Baltimore-based T. Rowe Price investment firm and former head of the Trustees' Investment Board, as their new chairperson. Riepe, who will succeed former Merck and Co. Chief Executive Officer Roy Vagelos, spoke with The Daily Pennsylvanian over the phone about some of his goals, ideas and responsibilities as he enters his first year at the helm of the University's highest decision-making body. At their annual summer meeting, the University Trustees named James Riepe, vice chairperson of the Baltimore-based T. Rowe Price investment firm and former head of the Trustees' Investment Board, as their new chairperson. Riepe, who will succeed former Merck and Co. Chief Executive Officer Roy Vagelos, spoke with The Daily Pennsylvanian over the phone about some of his goals, ideas and responsibilities as he enters his first year at the helm of the University's highest decision-making body.Daily Pennsylvanian: As the new chairperson of the Trustees, what will your primary responsibilities be? At their annual summer meeting, the University Trustees named James Riepe, vice chairperson of the Baltimore-based T. Rowe Price investment firm and former head of the Trustees' Investment Board, as their new chairperson. Riepe, who will succeed former Merck and Co. Chief Executive Officer Roy Vagelos, spoke with The Daily Pennsylvanian over the phone about some of his goals, ideas and responsibilities as he enters his first year at the helm of the University's highest decision-making body.Daily Pennsylvanian: As the new chairperson of the Trustees, what will your primary responsibilities be?James Riepe: I think the chair plays a leadership role for the Board of Trustees, but importantly, also conducts an important partnership with the president. I think that's the way the chair is meant to act.? I think the chair's role is to represent the Trustees in their oversight role and to work with the administration as a partner. At their annual summer meeting, the University Trustees named James Riepe, vice chairperson of the Baltimore-based T. Rowe Price investment firm and former head of the Trustees' Investment Board, as their new chairperson. Riepe, who will succeed former Merck and Co. Chief Executive Officer Roy Vagelos, spoke with The Daily Pennsylvanian over the phone about some of his goals, ideas and responsibilities as he enters his first year at the helm of the University's highest decision-making body.Daily Pennsylvanian: As the new chairperson of the Trustees, what will your primary responsibilities be?James Riepe: I think the chair plays a leadership role for the Board of Trustees, but importantly, also conducts an important partnership with the president. I think that's the way the chair is meant to act.? I think the chair's role is to represent the Trustees in their oversight role and to work with the administration as a partner.DP: How much contact do you envision having with the student body? At their annual summer meeting, the University Trustees named James Riepe, vice chairperson of the Baltimore-based T. Rowe Price investment firm and former head of the Trustees' Investment Board, as their new chairperson. Riepe, who will succeed former Merck and Co. Chief Executive Officer Roy Vagelos, spoke with The Daily Pennsylvanian over the phone about some of his goals, ideas and responsibilities as he enters his first year at the helm of the University's highest decision-making body.Daily Pennsylvanian: As the new chairperson of the Trustees, what will your primary responsibilities be?James Riepe: I think the chair plays a leadership role for the Board of Trustees, but importantly, also conducts an important partnership with the president. I think that's the way the chair is meant to act.? I think the chair's role is to represent the Trustees in their oversight role and to work with the administration as a partner.DP: How much contact do you envision having with the student body?JR: I spent six years on campus as a student -- four years as an undergrad and two years as a graduate student -- so I am keenly interested in the students and will spend as much time as I have. I'm still trying to hold down a job, which will clearly put some pressures on my time, but I very much want to have interaction with the students. I think one of the major goals that we have is to see how we can continue to improve the academic, residential, recreational and social experience for all of the students. The best way to do that is? to have some interaction with them, to know what they want. At their annual summer meeting, the University Trustees named James Riepe, vice chairperson of the Baltimore-based T. Rowe Price investment firm and former head of the Trustees' Investment Board, as their new chairperson. Riepe, who will succeed former Merck and Co. Chief Executive Officer Roy Vagelos, spoke with The Daily Pennsylvanian over the phone about some of his goals, ideas and responsibilities as he enters his first year at the helm of the University's highest decision-making body.Daily Pennsylvanian: As the new chairperson of the Trustees, what will your primary responsibilities be?James Riepe: I think the chair plays a leadership role for the Board of Trustees, but importantly, also conducts an important partnership with the president. I think that's the way the chair is meant to act.? I think the chair's role is to represent the Trustees in their oversight role and to work with the administration as a partner.DP: How much contact do you envision having with the student body?JR: I spent six years on campus as a student -- four years as an undergrad and two years as a graduate student -- so I am keenly interested in the students and will spend as much time as I have. I'm still trying to hold down a job, which will clearly put some pressures on my time, but I very much want to have interaction with the students. I think one of the major goals that we have is to see how we can continue to improve the academic, residential, recreational and social experience for all of the students. The best way to do that is? to have some interaction with them, to know what they want.DP: Dr. Vagelos placed a large emphasis on increasing the endowment for undergraduate financial aid? Is that one of your top priorities as well? At their annual summer meeting, the University Trustees named James Riepe, vice chairperson of the Baltimore-based T. Rowe Price investment firm and former head of the Trustees' Investment Board, as their new chairperson. Riepe, who will succeed former Merck and Co. Chief Executive Officer Roy Vagelos, spoke with The Daily Pennsylvanian over the phone about some of his goals, ideas and responsibilities as he enters his first year at the helm of the University's highest decision-making body.Daily Pennsylvanian: As the new chairperson of the Trustees, what will your primary responsibilities be?James Riepe: I think the chair plays a leadership role for the Board of Trustees, but importantly, also conducts an important partnership with the president. I think that's the way the chair is meant to act.? I think the chair's role is to represent the Trustees in their oversight role and to work with the administration as a partner.DP: How much contact do you envision having with the student body?JR: I spent six years on campus as a student -- four years as an undergrad and two years as a graduate student -- so I am keenly interested in the students and will spend as much time as I have. I'm still trying to hold down a job, which will clearly put some pressures on my time, but I very much want to have interaction with the students. I think one of the major goals that we have is to see how we can continue to improve the academic, residential, recreational and social experience for all of the students. The best way to do that is? to have some interaction with them, to know what they want.DP: Dr. Vagelos placed a large emphasis on increasing the endowment for undergraduate financial aid? Is that one of your top priorities as well?JR: My priorities, in terms of what I personally want to emphasize, are going to evolve over the next year or so as I assume the position. But clearly, the Agenda for Excellence and its priorities are also going to be my priorities.? Within that context of the undergraduate financial aid, I was one of the founding members with Dr. Vagelos of that committee. I was a financial aid student at Penn, both in undergraduate and graduate school? and it's also one of the weaker links we have within the institution. At their annual summer meeting, the University Trustees named James Riepe, vice chairperson of the Baltimore-based T. Rowe Price investment firm and former head of the Trustees' Investment Board, as their new chairperson. Riepe, who will succeed former Merck and Co. Chief Executive Officer Roy Vagelos, spoke with The Daily Pennsylvanian over the phone about some of his goals, ideas and responsibilities as he enters his first year at the helm of the University's highest decision-making body.Daily Pennsylvanian: As the new chairperson of the Trustees, what will your primary responsibilities be?James Riepe: I think the chair plays a leadership role for the Board of Trustees, but importantly, also conducts an important partnership with the president. I think that's the way the chair is meant to act.? I think the chair's role is to represent the Trustees in their oversight role and to work with the administration as a partner.DP: How much contact do you envision having with the student body?JR: I spent six years on campus as a student -- four years as an undergrad and two years as a graduate student -- so I am keenly interested in the students and will spend as much time as I have. I'm still trying to hold down a job, which will clearly put some pressures on my time, but I very much want to have interaction with the students. I think one of the major goals that we have is to see how we can continue to improve the academic, residential, recreational and social experience for all of the students. The best way to do that is? to have some interaction with them, to know what they want.DP: Dr. Vagelos placed a large emphasis on increasing the endowment for undergraduate financial aid? Is that one of your top priorities as well?JR: My priorities, in terms of what I personally want to emphasize, are going to evolve over the next year or so as I assume the position. But clearly, the Agenda for Excellence and its priorities are also going to be my priorities.? Within that context of the undergraduate financial aid, I was one of the founding members with Dr. Vagelos of that committee. I was a financial aid student at Penn, both in undergraduate and graduate school? and it's also one of the weaker links we have within the institution. Technology probably will be an area of focus for me in all kinds of ways -- both the University's administrative use of technology, but also the teaching of technology in making sure that our institution is positioning our students and our faculty for what's going to be a continuation of this revolution. At their annual summer meeting, the University Trustees named James Riepe, vice chairperson of the Baltimore-based T. Rowe Price investment firm and former head of the Trustees' Investment Board, as their new chairperson. Riepe, who will succeed former Merck and Co. Chief Executive Officer Roy Vagelos, spoke with The Daily Pennsylvanian over the phone about some of his goals, ideas and responsibilities as he enters his first year at the helm of the University's highest decision-making body.Daily Pennsylvanian: As the new chairperson of the Trustees, what will your primary responsibilities be?James Riepe: I think the chair plays a leadership role for the Board of Trustees, but importantly, also conducts an important partnership with the president. I think that's the way the chair is meant to act.? I think the chair's role is to represent the Trustees in their oversight role and to work with the administration as a partner.DP: How much contact do you envision having with the student body?JR: I spent six years on campus as a student -- four years as an undergrad and two years as a graduate student -- so I am keenly interested in the students and will spend as much time as I have. I'm still trying to hold down a job, which will clearly put some pressures on my time, but I very much want to have interaction with the students. I think one of the major goals that we have is to see how we can continue to improve the academic, residential, recreational and social experience for all of the students. The best way to do that is? to have some interaction with them, to know what they want.DP: Dr. Vagelos placed a large emphasis on increasing the endowment for undergraduate financial aid? Is that one of your top priorities as well?JR: My priorities, in terms of what I personally want to emphasize, are going to evolve over the next year or so as I assume the position. But clearly, the Agenda for Excellence and its priorities are also going to be my priorities.? Within that context of the undergraduate financial aid, I was one of the founding members with Dr. Vagelos of that committee. I was a financial aid student at Penn, both in undergraduate and graduate school? and it's also one of the weaker links we have within the institution. Technology probably will be an area of focus for me in all kinds of ways -- both the University's administrative use of technology, but also the teaching of technology in making sure that our institution is positioning our students and our faculty for what's going to be a continuation of this revolution.DP: As former Investment Board chair, do you have any ideas about ways in which we can increase [the endowment]? At their annual summer meeting, the University Trustees named James Riepe, vice chairperson of the Baltimore-based T. Rowe Price investment firm and former head of the Trustees' Investment Board, as their new chairperson. Riepe, who will succeed former Merck and Co. Chief Executive Officer Roy Vagelos, spoke with The Daily Pennsylvanian over the phone about some of his goals, ideas and responsibilities as he enters his first year at the helm of the University's highest decision-making body.Daily Pennsylvanian: As the new chairperson of the Trustees, what will your primary responsibilities be?James Riepe: I think the chair plays a leadership role for the Board of Trustees, but importantly, also conducts an important partnership with the president. I think that's the way the chair is meant to act.? I think the chair's role is to represent the Trustees in their oversight role and to work with the administration as a partner.DP: How much contact do you envision having with the student body?JR: I spent six years on campus as a student -- four years as an undergrad and two years as a graduate student -- so I am keenly interested in the students and will spend as much time as I have. I'm still trying to hold down a job, which will clearly put some pressures on my time, but I very much want to have interaction with the students. I think one of the major goals that we have is to see how we can continue to improve the academic, residential, recreational and social experience for all of the students. The best way to do that is? to have some interaction with them, to know what they want.DP: Dr. Vagelos placed a large emphasis on increasing the endowment for undergraduate financial aid? Is that one of your top priorities as well?JR: My priorities, in terms of what I personally want to emphasize, are going to evolve over the next year or so as I assume the position. But clearly, the Agenda for Excellence and its priorities are also going to be my priorities.? Within that context of the undergraduate financial aid, I was one of the founding members with Dr. Vagelos of that committee. I was a financial aid student at Penn, both in undergraduate and graduate school? and it's also one of the weaker links we have within the institution. Technology probably will be an area of focus for me in all kinds of ways -- both the University's administrative use of technology, but also the teaching of technology in making sure that our institution is positioning our students and our faculty for what's going to be a continuation of this revolution.DP: As former Investment Board chair, do you have any ideas about ways in which we can increase [the endowment]?JR: I don't think from an investment point of view we're going to do anything different with the financial aid endowment as we would with the overall endowment, so I don't think the investment angle is what we'll be focusing on. What we'll be focusing on is raising an addition of endowment from people who think, like Dr. Vagelos and I do, [that] the importance to the long term successes of Penn [is] to have a very strong financial aid endowment so that we can attract top students regardless of their ability to pay. At their annual summer meeting, the University Trustees named James Riepe, vice chairperson of the Baltimore-based T. Rowe Price investment firm and former head of the Trustees' Investment Board, as their new chairperson. Riepe, who will succeed former Merck and Co. Chief Executive Officer Roy Vagelos, spoke with The Daily Pennsylvanian over the phone about some of his goals, ideas and responsibilities as he enters his first year at the helm of the University's highest decision-making body.Daily Pennsylvanian: As the new chairperson of the Trustees, what will your primary responsibilities be?James Riepe: I think the chair plays a leadership role for the Board of Trustees, but importantly, also conducts an important partnership with the president. I think that's the way the chair is meant to act.? I think the chair's role is to represent the Trustees in their oversight role and to work with the administration as a partner.DP: How much contact do you envision having with the student body?JR: I spent six years on campus as a student -- four years as an undergrad and two years as a graduate student -- so I am keenly interested in the students and will spend as much time as I have. I'm still trying to hold down a job, which will clearly put some pressures on my time, but I very much want to have interaction with the students. I think one of the major goals that we have is to see how we can continue to improve the academic, residential, recreational and social experience for all of the students. The best way to do that is? to have some interaction with them, to know what they want.DP: Dr. Vagelos placed a large emphasis on increasing the endowment for undergraduate financial aid? Is that one of your top priorities as well?JR: My priorities, in terms of what I personally want to emphasize, are going to evolve over the next year or so as I assume the position. But clearly, the Agenda for Excellence and its priorities are also going to be my priorities.? Within that context of the undergraduate financial aid, I was one of the founding members with Dr. Vagelos of that committee. I was a financial aid student at Penn, both in undergraduate and graduate school? and it's also one of the weaker links we have within the institution. Technology probably will be an area of focus for me in all kinds of ways -- both the University's administrative use of technology, but also the teaching of technology in making sure that our institution is positioning our students and our faculty for what's going to be a continuation of this revolution.DP: As former Investment Board chair, do you have any ideas about ways in which we can increase [the endowment]?JR: I don't think from an investment point of view we're going to do anything different with the financial aid endowment as we would with the overall endowment, so I don't think the investment angle is what we'll be focusing on. What we'll be focusing on is raising an addition of endowment from people who think, like Dr. Vagelos and I do, [that] the importance to the long term successes of Penn [is] to have a very strong financial aid endowment so that we can attract top students regardless of their ability to pay.DP: Do you feel that that Penn is as good [at covering applicants' financial aid needs] as other Ivy League schools, like Harvard, or is that something that is lacking? At their annual summer meeting, the University Trustees named James Riepe, vice chairperson of the Baltimore-based T. Rowe Price investment firm and former head of the Trustees' Investment Board, as their new chairperson. Riepe, who will succeed former Merck and Co. Chief Executive Officer Roy Vagelos, spoke with The Daily Pennsylvanian over the phone about some of his goals, ideas and responsibilities as he enters his first year at the helm of the University's highest decision-making body.Daily Pennsylvanian: As the new chairperson of the Trustees, what will your primary responsibilities be?James Riepe: I think the chair plays a leadership role for the Board of Trustees, but importantly, also conducts an important partnership with the president. I think that's the way the chair is meant to act.? I think the chair's role is to represent the Trustees in their oversight role and to work with the administration as a partner.DP: How much contact do you envision having with the student body?JR: I spent six years on campus as a student -- four years as an undergrad and two years as a graduate student -- so I am keenly interested in the students and will spend as much time as I have. I'm still trying to hold down a job, which will clearly put some pressures on my time, but I very much want to have interaction with the students. I think one of the major goals that we have is to see how we can continue to improve the academic, residential, recreational and social experience for all of the students. The best way to do that is? to have some interaction with them, to know what they want.DP: Dr. Vagelos placed a large emphasis on increasing the endowment for undergraduate financial aid? Is that one of your top priorities as well?JR: My priorities, in terms of what I personally want to emphasize, are going to evolve over the next year or so as I assume the position. But clearly, the Agenda for Excellence and its priorities are also going to be my priorities.? Within that context of the undergraduate financial aid, I was one of the founding members with Dr. Vagelos of that committee. I was a financial aid student at Penn, both in undergraduate and graduate school? and it's also one of the weaker links we have within the institution. Technology probably will be an area of focus for me in all kinds of ways -- both the University's administrative use of technology, but also the teaching of technology in making sure that our institution is positioning our students and our faculty for what's going to be a continuation of this revolution.DP: As former Investment Board chair, do you have any ideas about ways in which we can increase [the endowment]?JR: I don't think from an investment point of view we're going to do anything different with the financial aid endowment as we would with the overall endowment, so I don't think the investment angle is what we'll be focusing on. What we'll be focusing on is raising an addition of endowment from people who think, like Dr. Vagelos and I do, [that] the importance to the long term successes of Penn [is] to have a very strong financial aid endowment so that we can attract top students regardless of their ability to pay.DP: Do you feel that that Penn is as good [at covering applicants' financial aid needs] as other Ivy League schools, like Harvard, or is that something that is lacking?JR: No, I think Penn does it very well. The problem is that it has to use its operating budget to fund it rather than use its endowment. So it limits what it can do with its operating budget by having to allocate financial aid dollars out of operating revenues.