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Mark Winkelman has been selected as chairman of Penn Medicine, President Amy Gutmann and Board of Trustees Chairman David Cohen announced Monday.

His appointment is effective Nov. 1.

Winkelman, a board of trustees member, currently serves on the board and executive committee of Penn Medicine.

Winkelman, who earned his MBA from the Wharton School in 1973, is a senior director of Goldman Sachs. At Penn, he also serves as chairman of the University’s Budget and Finance Committee.

“We are delighted that Mark has agreed to assume this important role, at a time when Penn Medicine is both thriving and, like all academic medical centers throughout the country, facing many challenges in the context of uncertain economic times and the ongoing debate over health care reform,” Gutmann said in a statement.

Winkelman will replace James Riepe, a former Board of Trustees chairman, at the helm of Penn Medicine.

In May, Riepe helped coordinate a record-breaking donation of $225 million from Raymond and Ruth Perelman to the now-renamed Perelman School of Medicine.

He will remain on the Penn Medicine executive committee, Gutmann said.

“We are extremely thankful for [Riepe’s] inspired leadership of the Penn Medicine Board these past two years,” she said. “As a founding member of the Board, he brought his wide-ranging knowledge and expertise to the role, helping to ensure Penn Medicine’s continued growth and upward trajectory.”

Penn Medicine is the umbrella organization created in 2001 to oversee both the University’s Health System and the School of Medicine.

Winkelman will work under the leadership of Larry Jameson, who began his tenure as executive vice president of the Health System and dean of the School of Medicine in July.

Cohen said in a statement that Winkelman’s financial background bodes particularly well for the future of Penn Medicine.

“Penn is fortunate to have benefited from Mark’s great expertise throughout his tenure on the board, most particularly his service on Penn’s Investment Board during one of the most volatile decades in the history of the financial markets,” Cohen said.

Winkelman also remains active with Wharton today. He is currently a member of the Wharton Board of Overseers and has served as chairman of the Wharton Entrepreneurial Center’s advisory board.

“Mark is a thoughtful leader and a dedicated Penn and Penn Medicine trustee,” Gutmann said. “His broad management experience and deep understanding of the Penn landscape will help assure Penn Medicine’s eminence and momentum.”

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