Trustees elect Lubert as new board chair, Dambly as vice chair

LEHMAN, Pa. — Ira M. Lubert, chairman and co-founder of Lubert-Adler Real Estate, was elected chair of Penn State’s Board of Trustees on July 22. Currently serving as vice chair, Lubert ran unopposed and received all 34 votes of those who cast a ballot.

Mark H. Dambly, president of Pennrose Properties, was elected vice chair of the board in a 20-14 vote over Allison S.  Goldstein, a gubernatorial appointed trustee who also sought the vice chair position.

The board consists of 38 members, two of those are ex-officio, non-voting members, for a total of 38 trustees.

Lubert was appointed to fill a board vacancy in January 2015. Before that, he served on the board from 1997 to 2000, and again in 2007 when Gov. Ed Rendell appointed him. He served until 2013.

A 1973 Penn State graduate in food service and housing administration, Lubert has more than 40 years of experience in real estate and private equity. He has cofounded a number of private equity and real estate funds. He was the principal and founder of TL Ventures, within Safeguard Scientifics Inc., an early-stage venture fund.

Lubert served as a member of the Penn State Abington Advisory Board and the steering committee for the seven-year Grand Destiny fundraising campaign. His support for Penn State also has included Penn State wrestling, the All-Sports Museum, the College of Health and Human Development, Penn State Great Valley, the Football Excellence Fund, Undergraduate Education, the Renaissance Scholarship Funds, the Penn State Health Milton S. Hershey Medical Center, University Libraries and the renovation of Rec Hall.

He has been recognized for his leadership and business skills. Lubert received Penn State’s Distinguished Alumni Award in 2006 and the Alumni Fellow Award in 1995. In 2014, he was named Drexel University’s Business Leader of the Year and received the Musser Award for excellence in leadership from Temple University.

In addition to supporting Penn State initiatives, he has served on a number of community boards, including the board of the National Constitution Center and the board of the Franklin Institute. He previously served as chairman of the United Way Campaign of Philadelphia.

Since 2004, Dambly has served as president of Pennrose Properties, a multifamily property management firm in the Mid-Atlantic and beyond. Before that he was a vice president and partner at Pennrose since 1992. He directs the firm’s business development efforts, including initial financing, closings and construction completion.

Dambly also serves on the board of the Penn State Health Milton S. Hershey Medical Center and Crozer-Keystone Health System. He is chairman of the board of the Chester Institute of Economic Development and a board member of Regional Housing Legal Services, the Housing Alliance of Pennsylvania and the Pennsylvania Apartment Association—East.

A Penn State graduate in real estate and insurance, Dambly has served on the University Board of Trustees since being appointed by Gov. Ed Rendell in October 2010.

Following the announcement of Lubert being seated as chair of the board, he recommended that the two at-large executive committee positions of the board be filled by Don Cotner, a trustee elected by agricultural delegates, and Albert Lord, an alumni-elected trustee. The full board approved the appointments.

Annual elections also included board officers. Re-elected to another term were: Thomas G. Poole, secretary; Janine S. Andrews, associate secretary; Carmella Mulroy-Degenhart and Donna J. Newburg, assistant secretary; David J. Gray, treasurer; and Deborah M. Meder and Susan J. Wiedemer, assistant treasurer. Kim I. Wright was also elected assistant secretary, replacing Carol A. Maddox.

Board committee compositions, which took effect July 1, include the following chair positions: M. Abraham Harpster, Committee on Academic Affairs and Student Life;

Walter C. Rakowich, Committee on Audit and Risk;

Paul H. Silvis, Committee on Compensation;

Daniel S. Mead, Committee on Finance, Business and Capital Planning;

Betsy E. Huber, Committee on Governance and Long-Range Planning;

Richard K. Dandrea, Committee on Legal and Compliance; and

Ryan J. McCombie, Committee on Outreach, Development and Community Relations.

Last Updated July 25, 2016