February 15, 2005

Golding To Replace Craft as CFO

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Stephen T. Golding will replace Harold “Hal” Craft ’61 as vice president for administration and chief financial officer.

In a special Feb. 1 meeting, the Executive Committee of Cornell’s Board of Trustees approved President Jeffery S. Lehman’s ’77 nomination of Golding. Golding will be the University’s first Samuel W. Bodman Executive Vice President for Finance and Administration.

He begins the new post in April but spent part of last week meeting with various people in the administration.

Lehman said of Golding, “He has tremendous experience and his references were extraordinary [and] he understands the University’s intellectual aspirations.”

As a member of the president’s management team, Golding will advise the president on university policies and strategies as they apply to financial decisions.

Additionally, he will also be responsible for administrating most of the University’s financial interests.

He will not be restricted to working on the Ithaca campus, but will also work with other University entities including Weill Cornell Medical College and the Cornell Center for Technology.

“My goal is to partner in anyway I need to in order to help achieve President Lehman’s vision,” Golding said.

Most recently, Golding has served as vice president for budget and finance for the University of Colorado system.

As the four-campus system’s chief financial officer, Golding served as the primary administrator and advisor when it came to fiscal matters and was the chief spokesperson with regards to the Colorado state government.

Previous to his post with the University of Colorado, Golding has held various positions with Morgan Stanley Investment Management, the state government of Delaware and the University of Pennsylvania.

Golding expects one of his biggest challenges to stem from Cornell’s recent decline in state funding.

“The real challenge of a public institution is how to maintain the public mission while their state resources decline,” he said.

He also said Cornell’s unique blend of publicly and privately endowed colleges will play to his experience of having worked in both settings.

Craft served in the position since 2000, and a year ago he announced his intention to retire before the summer of 2005.

Prior to serving as vice president for administration and chief financial officer, Craft held a variety of positions within the University’s administration.

“Hal Craft has been a superb leader at Cornell for more than three decades,” stated Lehman. “Even as he retires from his role as vice president, I am grateful for his willingness to remain available to Cornell to help with special projects that will benefit from his wisdom and experience.”

The Bodman Foundation has endowed the position to honor Samuel W. Bodman ’60, who was recently confirmed as U.S. Secretary of Energy. “This endowment is a tribute to Cornell, Cornell’s alumni, and to the Samuel Bodman family for making the commitment to having the best administration which is truly unique to Cornell,” Golding said.

Archived article by Michael Margolis
Sun Senior Writer