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Havard shakes up governing board

December 7, 2010

Harvard University is doubling the size of its governing board after a year-long review. The board has been criticized by some alums for its secrecy and for the way it handled university finances during the recession.

The Harvard Corporation has remained little changed since the university was chartered back in 1650, reports the Chronicle of Higher Education. The seven-member committee will now increase to 13 people and add term limits.

Harvard President Drew Faust says the change will modernize the board and bring new expertise and perspectives.

According to the Boston Globe, Harvard remains the world’s wealthiest university. But the loss of nearly $2 billion in operating cash during the economic crisis has led to hundreds of layoffs and cutbacks in some student services and construction projects.

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