Trustees elect officers

UNIVERSITY PARK, Pa. -- Karen B. Peetz was elected chair of Penn State's Board of Trustees Friday (Jan. 20). Keith E. Masser was elected vice chair.

Peetz and Masser succeed Steve A. Garban and John P. Surma, who served as chair and vice chair, respectively, in 2010 and 2011.

David J. Gray, whose appointment as senior vice president for finance and business also was approved by the board, was elected treasurer, effective Feb. 6.

Peetz is a vice chairman and chief executive officer at The Bank of New York (BNY) Mellon, where she is responsible for the Financial Markets and Treasury Services Group. The businesses that make up this group — treasury services, corporate trust, depositary receipts, shareowner services, clearing services, broker-dealer clearing, collateral management and alternative investment services — represent more than 40 percent of the company's revenue. Serving clients globally, her group includes more than 17,000 employees in 76 cities.

She is member of BNY Mellon's Executive Committee, the organization's most senior management body, which oversees day-to-day operations. Peetz also is chair of the company’s Women's Initiatives Network, a global resource for professional development and advancement of women who work at BNY Mellon, and serves on the company's Diversity Council.

Before joining BNY Mellon to run its domestic corporate trust business in 1998, Peetz spent 16 years with JP Morgan Chase in various sales and business management positions. She also is chairperson of the board for United Way of New York City. She received her bachelor of science degree from Penn State and master of science degree from Johns Hopkins.

Masser is president of Sterman Masser Inc., a family farm in Sacramento, Pa., that produces potatoes, cash grain and hay and processes dehydrated and fresh cut potato products. He is a graduate of Penn State with a degree in agricultural engineering and is actively involved with the University as a member of the Mount Nittany Society, the Penn State Alumni Association, the Alpha Epsilon Ag Engineering Honor Society and the Tau Beta Pi Engineering Honor Society.

Penn State's College of Agricultural Sciences named Masser an Outstanding Alumnus in 2008. Other honors he has received include the Red Book Produce Directory Business Character Award in 2007, the Vance Publishing Potato Man of the Year in 2005, the American Vegetable Grower Achievement Award national finalist in 2003, the Top Producer of the Year Finalist in 2002, the EPA Environmental Stewardship Award and the Master Farmer in 1998 and the Vance Publishing Man for all Seasons in 1990.

Newly appointed senior vice president Gray also was appointed a member of the Board of Directors of The Milton S. Hershey Medical Center. Gray and Robert Pangborn, interim executive vice president and provost, were elected directors of The Corporation for Penn State.

Several other incumbent officers of the Board of Trustees were re-elected: Paula R. Ammerman, associate secretary; Carmella Mulroy-Degenhart, Kimberly J. Belcher and Wendy L. Peck, assistant secretaries; and Deborah. M. Meder and Susan J. Widemer, assistant treasurers. In accordance with the bylaws of the University, President Rodney Erickson serves as ex officio secretary of the board.

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Last Updated January 20, 2012