Bill Ackman Supports Outsider Candidates for Harvard Board Amid Campaign to Resign by Claudine Gay – My MBA Career

Last Updated on January 11, 2024 by Robert C. Hoopes

Billionaire hedge fund manager Bill Ackman is throwing his support behind four Harvard University alumni who are vying for a spot on the prestigious university’s board of overseers. This move comes after Ackman played a role in forcing Harvard’s president, Claudine Gay, to step down from her position.

The candidates that Ackman is backing – Zoe Bedell, Logan Leslie, Julia Pollak, and Alec Williams – all have degrees from Harvard. Ackman has been critical of the university’s handling of antisemitism incidents and its adoption of diversity and inclusion programs, which he believes impede meritocracy.

The candidates supported by Ackman are calling for the university to protect free speech, address issues of bullying and harassment, and tackle financial mismanagement, particularly concerning Harvard’s massive $50.7 billion endowment. They argue that the endowment should perform at market standards and that administrative costs need to be reduced.

Historically, Harvard graduates have shown low turnout in board elections. The last successful challenge to the board took place in 2020 when Harvard Forward, a coalition of graduates, managed to get four candidates elected. With Ackman’s backing, the candidates are hoping to gather at least 3,300 signatures from Harvard graduates to qualify for the election.

The board of overseers, which is the second-highest governing body at Harvard, holds significant power, including approving or rejecting the hiring of the university’s next president. One of the primary tools at the overseers’ disposal is the visitation process, which allows them to ask questions of faculty and departments and conduct assessments.

The candidates supported by Ackman are seen as “outsiders with a mission” to bring renewal to the university. Their campaign focuses on improving the university’s handling of various issues and ensuring greater transparency and accountability.

It remains to be seen whether these candidates will be able to secure enough support to make it onto the board of overseers. However, with Ackman’s endorsement and their vision for change, they are certainly making waves within the Harvard community.