Wharton now has two administrators to replace.
The Conference Board officially named Wharton Vice Dean of Executive Education Jonathan Spector as its new president and chief executive officer on Tuesday.
"It's bittersweet for us. . He's been one of my key advisors," said Wharton Dean Patrick Harker, who will leave the school in July to assume the presidency of the University of Delaware.
Spector, too, said he will be sorry when he leaves the school on April 15 to begin his new post the next day.
"The timing of this is quite unfortunate in the sense that it looks like [Harker's] departure has something to do with this, [but that] has absolutely nothing to do with this," Spector said.
"If I could do both [jobs] at once, I would," he said.
The Conference Board is a not-for-profit global business and research organization, best known for producing the Consumer Confidence Index, a leading economic indicator in the U.S.
Harker said Wharton is in the early stages of a search process for Spector's replacement, who will head the Wharton non-degree-granting program responsible for interacting with and developing programs for outside corporations.
Many expect a smooth transition as Spector and Harker leave the University, but it's no secret that new leadership often brings change.
"It's an enormous loss for the University; it's a great move for" Spector, said Michael Useem, a Wharton Management professor who worked with Spector frequently.
"Senior administrator[s] . bring a distinctive point of view," he said, adding that both Spector and Harker will leave strong foundations for their successors.
Spector is no stranger to the private sector, having spent two decades as a consultant for McKinsey & Company before arriving at Wharton in 2003.
Colleagues say that, since then, Spector changed Wharton for the better.
"He's made us more global," said Useem, citing more aggressive programs in India and China.
In addition, Spector's skill set, which also includes building long-term relationships with business clients, make him a "perfect fit" for his new role, Useem added. The work that The Conference Board does is "not unlike what a university does . there's a certain logic as to why he was a great candidate."
The sort of transition between work in higher education and the private business world that Spector is making is not uncommon, hiring experts say.
"More and more people are crossing industries than ever before," said David Shabot, the managing director of executive search firm Korn/Ferry International's Philadelphia office.
Shabot added that Spector, at 50, is "still young enough to be marketable" in multiple fields.
Plus, private "industry will always pay you more money," he added.
