Brian M. Barefoot, the 11th President of Babson College, will step down from the presidency on June 30, 2008.
“It has been my privilege to serve Babson College in one capacity or another for over 30 years. My connection and commitment to this school runs deep, and I have been proud to have served as president for the past six years,” Barefoot said.
“I took the job during a difficult time--with the tragedy of 9/11, the meltdown of the securities markets, and a cyclical downturn for business schools. I was quickly immersed in dealing with the challenges facing Babson. As the academic year progressed, I expressed my interest in continuing as President, and I was fortunate to be offered the position by the Board of Trustees.”
“Over the past six years, Babson has faced many challenges and seen many successes. It has been a rewarding and exciting time for both me and my wife, Pam. However, the time has come for us to look forward to the next phase of our lives, which will mean more time for family and new challenges. So, when my current contract ends on June 30, 2008, I will step down as President of Babson.”
“After a total of 11 years as Board Chair and President, it is time to make room for new leadership. By announcing my plans now, the College will have ample time for a thorough search to find the right next President. Of course, I am as strongly committed to Babson as ever. As a past President and the first Babson alumnus to serve in that capacity, I look forward to participating and actively contributing in any way I can to support Babson’s future.”
“This is a particularly exciting time for Babson. The faculty, staff, and students are outstanding and our academic reputation has grown steadily in recent years. The opportunities before us are unlimited, and it is my belief that the next 15 months will produce positive results on many fronts and significant momentum in growing our resources,” Barefoot said.
The Babson College Board of Trustees is forming a committee to launch a comprehensive search for the next Babson College President.
Prior to becoming President in July 2001, Barefoot enjoyed a successful career in financial services that spanned more than three decades. At PaineWebber, Inc. from 1994 to 2001, he served as Executive Vice President and Director of Investment Banking, a member of its Board of Directors, and President and Chief Executive Officer of its subsidiary PaineWebber International. During twenty-five years at Merrill Lynch & Co., from 1967 to 1992, he held various senior management positions, retiring as Senior Managing Director. From January 2001 to July 2002, Mr. Barefoot served in various capacities, including President, CEO and Chairman of the Board, at NeoVision Hypersystems Inc., a leading provider of software solutions specializing in advanced visualization and decision support for the financial services industry. In 1992, he founded Frontier Sports Development Corp. and served as President until 1994.
Barefoot has a long and distinguished record of service to Babson and served as Chair of the Board of Trustees from 1996 to 2001. Barefoot joined the governing board of Babson College in 1985 and has served in many capacities including Chair of the Investment Committee, Chair of the Development and Alumni Relations Committee, and Chair of the Executive Committee. From 1992 to 1997, he was co-chair of Babson's capital campaign, which raised a record $122 million. In 1994, he received the Cruickshank Alumni Leadership Award, the College's distinguished alumni service award, for his many contributions to Babson College.
Barefoot is a member of the Massachusetts Business Roundtable, is currently serving as a member of the Board of Directors of Blue Cross Blue Shield of Massachusetts as well as the Boys and Girls Clubs of Boston, is a member of the American Council on Education Commission on International Initiatives, and serves on the Executive Committee of AICUM (Association of Independent Colleges and Universities of Massachusetts). He has served on the Board of Trustees of the Kent Place School in Summit, New Jersey, a leading private independent school for women, from 1987 to 1998. In 1998, he was awarded the prestigious Ellis Island Medal of Honor by the Ellis Island Honor Society for his contributions to business and educational communities.
Barefoot is a 1966 graduate of Babson College. He received an MBA degree from Pace University Lubin School of Management in 1970 and attended various Harvard Executive Education Programs.
Barefoot was born in Cincinnati, Ohio in 1943, is married and has three children and one grandchild.
