IU Foundation adds new president, members

Earlier this month, IU Foundation’s fiduciary directors selected Kelley School of Business Dean Daniel Smith to replace current IUF President Eugene Tempel, who will leave this fall.

According to a press release, Smith’s role as president will begin Oct. 1, although he will act as the Kelley School’s interim dean until a replacement is found.

Tempel, who has served IUF for four years, will return to the Center on Philanthropy at IU-Purdue University Indianapolis, where he served as executive director for 11 years prior to his work with IUF.

“I’ve been asked to help build this School of Philanthropy,” Tempel said. “I’m looking forward to that.”

Tempel said appointing Smith as the new president ensured the job went to someone with knowledge of the school and previous experience.

“In these positions, it’s a great advantage to have someone coming from inside the University,” Tempel said. “Smith is coming from the business school, which is such a successful part of the University. He comes in with those kinds of experiences.”

Five new members were also elected to IUF’s Board of Directors.

For new members of the board, the nomination process is ongoing.

“We actually went into the process by which we made two structures inside the board,” Tempel said. “One is the fiduciary board, and then a larger group that deals with fundraising and other functions. These members are in that larger group.”

IUF manages an endowment of more than $1.57 billion and administers about 6,000 gift accounts, according to the foundation’s website.

“What’s prompting us is this deliberate focus of the board on University funding,” Tempel said. “Finding people who are engaged in the University already. We’re very focused on that as a primary criteria, to find people who are engaged in all aspects of the University.”

The five new members were primarily added because of their leadership, management and business experience and connections, Tempel said.

“All of them have connections in the business community,” he said.

New IUF board member Jeff Fettig has been chairman and chief executive officer of Whirlpool Corporation since January 2004 and received both a bachelor of science and a master of business administration in finance from the Kelley School, according to a press release.

Alan Graf is executive vice president and chief financial officer of FedEx Corporation and also has received the same degrees from  the Kelley School.

Louis Jordan is senior vice president of corporate finance of Starbucks Corporation and received his master of business administration in finance from the Kelley School.

Glenn Scolnik is chairman of Hammond, Kennedy, Whitney & Company Inc. Along with a bachelor of science in business and government relations from the Kelley School and a law degree from the Maurer School of Law, Scolnik was also inducted into the Indiana Football Hall of Fame in 2000.

Randolph Seger is partner of the law firm Bingham Greenebaum Doll LLP and has a bachelor of science in marketing from the Kelley School and a law degree from the Maurer School of Law.