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Press Release

Contact:
Teresa S. Thomas
412-268-3580

For immediate release:
January 6, 2002

Carnegie Mellon University Appoints Stefano Falconi as Chief Financial Officer

PITTSBURGH—Stefano Falconi has joined Carnegie Mellon University as its vice president for administration and chief financial officer, effective Jan. 1, 2003.

He had been director of finance at the Massachusetts Institute of Technology (MIT). "Carnegie Mellon is an extraordinary place and I'm looking forward to being a part of its future,"Falconi said of his new position.

Falconi succeeds Jeff Bolton, who left Carnegie Mellon last July to become chief financial officer at the Mayo Foundation in Rochester, Minn.

"We are extremely pleased to have Stefano join us at Carnegie Mellon. His experience working with budget and financial planning issues at the university level, his skills, work ethic and international background match nicely with the university's needs and interests,"said Jared L. Cohon, president of Carnegie Mellon.

Falconi holds an MBA with honors and a concentration in corporate finance from Harvard University. He also has a J.D. maxima cum laude, with a specialty in U.S. and European antitrust law, from the University of Padua in his native Italy. He is married with two daughters, aged four and eight.

He joined MIT in 1996 as director of budget and financial planning, and later became director of finance. In this role he was responsible for developing and implementing MIT's strategic financial planning, budgeting and capital planning processes. He also collaborated closely with MIT's treasurer in the areas of bond issues and relations with investment bankers and credit rating agencies.

Falconi held the appointment of associate director of the MIT-Italy Program, where he had responsibility for fund-raising, teaching and communication with corporate sponsors. He also is a member of the Management Board of the MIT Press, and a member of the board of directors of the Harvard University Employees' Credit Union. Prior to joining MIT, Falconi was director of cost analysis at Harvard University, where he ensured the university's compliance with federal regulations and response to federal audits. There he worked with Harvard's diverse constituencies to gain consensus and a successful negotiation of the university's indirect cost recovery rates. Both at Harvard and at MIT, he directed the development and deployment of innovative management information systems applied to space management, financial planning and budgeting processes.

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