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Just two days after Tulane University named Penn Law School Dean Michael Fitts as its new president, the William Penn Foundation announced that Wharton Vice Dean for Finance and Administration Peter Degnan would become the foundation’s new managing director.

Related: Wharton sees staff turnover

The foundation, which aims to improve the life of residents in the greater Philadelphia area through programs that help close the achievement gap for low-income students and by supporting local cultural groups, announced its new head on Tuesday. Degnan will officially assume his new role on March 3, according to the organization’s press release.

In his new role, Degnan will oversee the foundation’s operations, including “research-based evaluation, community engagement, and the Foundation’s financial and organizational management,” the press release said.

Prior to his position as vice dean for finance and administration, Degnan worked as the executive director of Wharton’s Aresty Institute of Executive Education and as director of Wharton’s MBA Career Management Office.

“We are excited about Peter coming on board,” David Haas, chair of the foundation’s board of directors, said. “He will not only bring his strong management skills and experience, but will be the ideal leader to work with the board and the family to sharpen the Foundation’s vision and carry our mission with greater impact.”

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