University of Delaware President Patrick Harker is stepping down to lead Philadelphia's branch of the Federal Reserve Bank later this summer.
He announced his move in an internal university letter Monday. Harker wrote that his experience with the university has been "inspiring, invigorating and unforgettable," adding that he will work closely with UD's Board of Trustees and administration to ensure a smooth transition to the institution's new leadership.
"Together we have accomplished much over the past eight years: facing challenges, crafting solutions, maximizing opportunities and ensuring the future of this noble institution," Harker wrote in his letter. "With your expertise and commitment, we have enhanced our outstanding reputation and expanded UD's contributions to the state, the nation and the world. These achievements position us well in the increasingly challenging world of higher education."
Harker took the helm of UD in July 2007 and has recently come under fire for a lack of diversity in the campus's student body, as well as from the university's teacher's union over an op-ed advocating for streamlined curriculum development and alternative education opportunities for students.
During his tenure, he launched the school's of the Path to Prominence strategic plan, lead the acquisition of the 272-acre former Newark Chrysler assembly plant, which is now being developed as the Science, Technology and Advanced Research (STAR) Campus, and oversaw a variety of major construction projects , including the 194,000-square-foot Interdisciplinary Science and Engineering Laboratory (ISE Lab).
"Pat Harker's strong and thoughtful leadership has served the University of Delaware well through a period of considerable change in American higher education," said University's Board of Trustees chair Gil Sparks in a statement, "We thank him for all he has done for the University and for the State, and I know my fellow trustees join me in wishing him well on his new endeavor."
Harker will stay on until June 30th and assume his new position with the Philadelphia Fed effective July 1.
UD's presidential office has long been a rumored landing pad for Gov. Jack Markell (D) when his constitutionally-limited term ends January 2017. Markell spokesperson Kelly Bachman said in a statement, "Governor Markell is focused on making the most of his time in office and has not made any decisions about what to do when his term as Governor is over. He looks forward to working with the university’s next president."
In a statement of his own, Markell praised Harker's efforts to prepare UD students for a 21st-century economy, saying his tenure "has been marked by progress in areas most important to building a stronger economy and workforce.”
State Senator David Sokola (D-Newark), who heads the Senate Education Committee, says while Harker was stronger in some areas than others, he has a great deal of respect for the president.
"I think the skills that he brought that were really strong were strong skills. I think the ones that were weak probably weren’t identified as well by him and part of that was around dealing with the other constituencies that you have to deal with," said Sokola.
Delaware’s senior Senator Tom Carper (D-Delaware) says the outgoing university president will leave a lasting legacy on the institution, specifically for his efforts to establish the STAR campus.
"In 10, 20 or 30 years from now when thousands and thousands of people are working there, we’re going to say Pat Harker’s vision and leadership made that possible," said Carper.
Carper also noted UD’s increasing focus on countering cyber warfare as a notable accomplishment during Harker’s tenure.
In his letter, Harker said he will work with the Board of Trustees and administrators over the next four months as part of the transition process.
At the Philadelphia Fed, Harker will participate on the Federal Open Market Committee in the formulation of U.S. monetary policy, while overseeing its 900 employees. He replaces Charles Plosser, who retired March 1. Harker has served as a non-banking Class B director of the Philadelphia Fed for the past three years.
James E. Nevels, chairman of the Philadelphia Fed’s board of directors, said in a statement that Harker emerged from "an exceptional and diverse slate of candidates."
"His deep roots in the region, his distinguished career in academia, his drive for innovation, and his passion to make our region an economic engine for the future truly impressed our board," said Nevels in his statement.