Fisk University President Hazel O’Leary announced Feb. 17 plans to retire at the end of the year, falling short of her stated goal of reversing the financial dilemma facing the 146 year-old Black university.
Her announcement comes as the institution’s status among Historically Black Colleges and Universities has stabilized but remains far from the goal of financial security she set when she took the helm eight years ago and is enmeshed in an accreditation struggle and a legal fight over a plan to raise cash by selling high-priced assets.
“While much remains to be done, I am confident that Fisk, the institution I love and have led these past eight years, is in better shape than when I arrived,” she said. She gave no reason for the decision to retire but addressed some of hurdles she has faced in her retirement statement:
“Our drive for continuous improvement has been daunted by our failure to increase new student enrollment during the economic downturn,” she said. .. In her statement, O’Leary said that the school’s academic record of achievement by its graduates is not to be ignored.
The university, rated 135th in Forbes Magazine’s America’s Best Colleges and Universities in 2011, reported 46 percent of its students were accepted into graduate and professional programs in 2011, according to the Nashville Tennessean.
“The public record indicates that Fisk has achieved top tier performance among liberal arts institutions in academics, student retention and engagement,” she said in her statement.
O’Leary served in the cabinet of President Bill Clinton where she was the first Black and first woman to serve as energy secretary. She is a 1959 Fisk graduate.
Robert W. Norton, chairman of the school’s board of trustees, noted the daunting task she faced at the helm. “She served at Fisk during a difficult time in its history including cuts in student loans, a tightening of credit markets and a decline in new student enrollment. For eight years she has brought the needed vision, leadership and stability to enhance Fisk’s position as a highly ranked liberal arts university,” he said.
The school noted that during her tenure, Fisk increased research grant funding from approximately $3.7 million in FY 2007 to a total of $63.6 million in the 2008-2012 fiscal year period. Fisk also ranks in the 77th percentile of all institutions in the United States receiving federal science and engineering research funds. Read Full Article at Afro
