Bruce R. Evans, Jeff Rothschild and Nora Wingfield Tyson
·4 min read
Across the US, universities are struggling to fill vacancies in their president’s offices. And no wonder. With higher education being scrutinized by Congress for multiple reasons, budgets under pressure due to inflation and other factors, athletics programs confronted by profound change, and campuses roiled by student protests, leading a university has never been tougher.
In our current moment, one is more likely to read about a university president quitting or being fired than about one electing to stay on the job.So as the leaders of the Vanderbilt University Board of Trust, we were pleased to announce in late May that we and our fellow trustees have extended the contract of Vanderbilt’s chancellor, Daniel Diermeier, through 2035. Our reasons for extending Chancellor Diermeier’s contract were simple: Vanderbilt is fortunate to have an immensely skilled, visionary and courageous leader. We have been pleased with his leadership to date. And we want him to have ample time to bring his ambitious vision for the university and its contributions — to Nashville, the nation and the world — to life.
Vanderbilt's achievements have spanned from academics to athletics
In less than four years since taking the job, Chancellor Diermeier has achieved an impressive range of tangible, meaningful results. They began with his earliest days on the job, when in August 2020, Vanderbilt became one of just a handful of top-tier institutions to safely bring students back to campus during the Covid-19 pandemic.
Since then, Vanderbilt has grown in both popularity and affordability. It has attracted a record number of student applications, posted its highest ever yield of admitted undergraduates, and expanded Opportunity Vanderbilt, its undergraduate financial aid program, which is designed to meet 100% of a family’s financial need without loans and make it possible for more qualified students to receive a Vanderbilt education without the burden of major debt.
Recently, in partnership with Metro Nashville Public Schools, the university launched Nashville Vanderbilt Scholars, a program that covers the direct cost of attending Vanderbilt for any MNPS student admitted during the early decision process and who qualifies for a Pell Grant or whose family income is less than $100,000.A landmark $100 million investment in faculty recruiting, named “Destination Vanderbilt” by Chancellor Diermeier and his team, has brought incredible new educators and researchers to Vanderbilt and the Nashville community. Our athletics program, meanwhile, is in the midst of a transformation apparent to anyone who visits campus, with new programs and facilities that will improve the Commodores’ competitiveness and the experience of local fans while keeping Vanderbilt firmly grounded in the ideal of the student-athlete.
Under Chancellor Diermeier’s leadership, Vanderbilt has also posted consistently positive operating performance, resulting in a coveted “AAA” bond rating by S&P. We have taken steps to extend Vanderbilt’s presence and impact around the world, and publicly launched the most ambitious fundraising campaign in the university’s history.
Diermeier has become a national figure offering clear leadership
As a look at the West End skyline will attest, Vanderbilt under Chancellor Diermeier has also continued to build beautiful residential colleges, providing an immersive, 24/7 living-learning experience for our diverse group of undergraduates. We have strengthened our Career Center, investing more to help graduating students find their life paths. And earlier this year we announced plans to establish a College of Connected Computing — our first new college since 1981 — which will educate students in subjects prized by fast-growing fields and create a new pipeline of tech talent for Nashville.
These results are impressive in themselves. But Chancellor Diermeier’s leadership extends beyond Vanderbilt. He has emerged as a national figure, providing much-needed clarity and leadership on issues critical to higher education, including college rankings, athletics and, especially, free speech and civil discourse. When he speaks on these issues, people inside and outside academia pay attention. He is engaged locally as well, working with elected officials and business leaders to expand Nashville’s innovation economy and promote the cross-sector collaboration necessary to make that happen.Simply put, Chancellor Diermeier’s first four years have been characterized by courage. He has demonstrated the courage to do the hard thing. To say the hard thing. To not follow the pack, but, instead, to do things the Vanderbilt Way. Rather than aim to please everyone, he has instead shown the courage to make difficult decisions, with our mission and values serving as his North Star.A strong and vibrant university is an invaluable community asset — economically, socially and culturally. A healthy system of higher education strengthens our nation as well. And universities are only as strong as their leaders.As trustees, we love and admire the mission of a great university, which is to provide a transformative education for students and pathbreaking research for the betterment of society. This is what we do at Vanderbilt. And we believe we can do even more of it under the continued bold leadership of Chancellor Diermeier. That’s why we made the considered decision to extend his contract, and why we believe our decision is great news—not just for our university, but for all of Nashville.
Bruce Evans is chairman of the Vanderbilt University Board of Trust, chairman of the Greater Nashville Venture Capital Association, a Vanderbilt alumnus, and former co-managing partner of the growth equity and venture capital firm, Summit Partners. Jeff Rothschild is vice-chairman of the Vanderbilt University Board of trust and a Vanderbilt alumnus. He is the co-founder of several technology and software companies, including Veritas Software, and was vice president of infrastructure engineering at Facebook. Nora Wingfield Tyson is vice-chairman of the Vanderbilt University Board of Trust and a Vanderbilt alumna. She retired as a vice admiral from the US Navy and was the first woman to command a US Navy ship fleet.
This article originally appeared on Nashville Tennessean: Vanderbilt trustees: Why we extended Chancellor Diermeier's contract
