Senior vice president retires, leaves legacy of quality

June 23, 2009

University Park, Pa. -- It has been over 40 years since Gary Schultz first stepped onto the Penn State campus as a student. At the end of June he will step off as one of the most influential leaders in Penn State history.

It's not surprising that during Schultz's 14-year tenure as senior vice president for finance and business/treasurer, the organization's slogan was "quality service, quality people." Through his vision and initiatives, the Office of Finance and Business (F&B) has helped the University grow and succeed in many areas, from enrollment size to research capabilities. Much of that success can be attributed to the quality service the organization provides the University.

"What I find most interesting about Gary is that he has his fingerprints all over the University," Dan Sieminski, associate vice president for finance and business/commonwealth operations, said. "He was very involved early on in so many things."

Schultz earned bachelor's and master’s degrees in industrial engineering at Penn State and began his career with the University in 1971. Until 1995, he handled various administrative responsibilities related to business operations, finance, and technology. He has served in his current role since 1995, leading F&B's over 5,000 full-time, part-time and student employees in 10 units.

"To me, the best part about working at Penn State for all of these years is the opportunity to work with so many bright, caring and dedicated people," Schultz said. "They have inspired me every day."

"Gary has been an incredible leader and role model for so many of us," said Gail Hurley, associate vice president for auxiliary and business services. "He didn't just have an effect on the finances and business, he had an effect on the people as well, and that's job number one in my book."

Since 2000, Schultz has chaired the Penn State Investment Council, which is responsible for investing endowment funds totaling more than $1.6 billion. Among several other affiliations and programs, he also played a major role in the planning and construction of numerous University facilities including Innovation Park and The Penn Stater Conference Centre Hotel.

"Gary devoted his entire career to Penn State, serving the University admirably for more than 37 years," President Graham Spanier said. "Gary's contributions have been among the most significant in the history of Penn State, and we will forever be grateful for the leadership, wisdom and hard work he provided to his alma mater during the course of a most distinguished career."

Over Schultz's career, Penn State has educated more students than ever before, boosting the state and national economy, and developing new medicines, new business models and innovation that is having a global impact.

Schultz helped Penn State make life better, and according to Sieminski, he made "Penn State a better place" as well.

Schultz began planning for retirement two years ago. A national search was conducted and Al Horvath, current vice president for finance and business, was hired in 2007 to begin the leadership transition in F&B. He will become senior vice president effective July 1.

"It is an honor to have worked with Gary and I look forward to continuing his good work and leadership here at Penn State," Horvath said. "These are big shoes to fill, but Gary established the groundwork so we can continue his vision of quality service and quality people."

  • Gary Schultz, senior vice president for finance and business/treasurer. Schultz's retirement begins July 1.

    IMAGE: Penn State

(Media Contacts)

Last Updated July 22, 2015