Administration

Trustees re-elect Masser as chair, elect Lubert as vice chair

MONACA, Pa. — Keith E. Masser, chairman and CEO of Sterman Masser Inc., was re-elected chair of Penn State’s Board of Trustees on July 17, and Ira Lubert, chairman and co-founder of Independence Capital Partners and Lubert Adler Partners LP, was elected vice chair.

Masser was re-elected in a 25-10 vote, over Trustee Anthony Lubrano, who also sought the chairmanship. Running for vice chair against Lubert was Alice Pope. Lubert was elected in a 24-11 vote.

Masser has served as chairman since 2013, and before that he served as vice chairman. He was elected to the board by delegates from agricultural societies in 2008 for a three-year term, and was then re-elected in 2011 and again in 2014 for additional three-year terms.  

Masser earned a bachelor’s degree in agricultural engineering, graduating from Penn State with distinction in 1973. He worked for Procter & Gamble, before buying his family’s business in 1980. Under his leadership, it has expanded to become one of North America’s top produce growing, processing and shipping companies. The 5,000-acre potato production company is an industry leader for food safety, corporate responsibility and promotion of healthy vegetables.

Masser has been active in a number of Penn State associations and community organization for more than 30 years, serving as a leader with local, state and national organizations.

He and his company have been recognized with numerous awards. Honors for Masser include receiving or being named: the Penn State College of Agricultural Sciences Outstanding Alumni in 2008, 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.

Lubert has more than 40 years of experience in real estate and private equity.

A 1973 Penn State graduate in food service and housing administration, Lubert served on Penn State’s Board of Trustees from 1997 to 2000. Gov. Ed Rendell appointed him to serve a second term from 2007 to 2010, and he continued to serve until 2013. In January 2015, he was appointed to fill the vacancy created when Trustee Karen B. Peetz stepped down.

Lubert has been involved in a number of Penn State initiatives over the years including serving as a member of the Penn State Abington Advisory Board and the steering committee for the seven-year Grand Destiny fundraising campaign.

He has supported Penn State initiatives including wrestling, the All-Sports Museum, the College of Health and Human Development, Penn State Abington, Penn State Great Valley, the Football Excellence Fund, Undergraduate Education, the Renaissance Scholarship Funds, the Penn State Milton S. Hershey Medical Center, The Libraries and the renovation of Rec Hall.

He has been recognized both by Penn State and other institutions for his leadership and business skills. He received the Penn State Alumni Fellow Award in 1995 and the Distinguished Alumnus Award in 2006. In 2014, he was named Drexel’s Business Leader of the year and was honored by Temple University with the Musser Award for his excellence in leadership.

In 2014, the Board of Trustees moved elections for the one-year leadership and officer positions from January to July.

Current board officers were reelected to another term: Thomas G. Poole, secretary; Janine S. Andrews, associate secretary; Carmella Mulroy-Degenhart, Donna J. Newburg and Carol A. Maddax, assistant secretary; David J. Gray, treasurer; Deborah M. Meder and Susan J. Wiedemer, assistant treasurer.

Changes to the leadership positions of the board’s committees and subcommittees were announced in June and took effect July 1.

Last Updated July 22, 2015