Johns Hopkins Gazette: May 28, 1996

Bloomberg Among
Newly Elected
Board Members

Michael R. Bloomberg, founder and president of Bloomberg Financial Markets, has been elected chairman of the board of trustees of The Johns Hopkins University.

Trustees Lenox D. Baker Jr. of Norfolk, Va., George L. Bunting Jr. of Timonium, Md., and Stuart S. Janney III of New York were elected vice chairmen of the board.

Baker and trustee R. Champlin Sheridan Jr. of Hanover, Pa., were appointed co-chairmen of the Johns Hopkins Initiative, taking Bloomberg's place at the head of that six-year campaign to raise $900 million for the university and the Johns Hopkins Hospital and Health System.

All six elections and appointments took effect at the May 20 meeting of the board of trustees.

As chairman, Bloomberg succeeds Morris W. Offit, founder and chairman of Offitbank in New York, who had headed the board of trustees since 1990. Offit will remain as a member of the board.

Bloomberg is a 1964 Hopkins electrical engineering graduate who has served as a trustee since 1987. He chaired the Johns Hopkins Initiative through its planning, its public launch in October 1994 and the nearly two years since then. Through April, the campaign has raised $574.9 million in gifts or pledges, 64 percent of its goal. Of that, $371.5 million is for endowment and facilities, 70 percent of the goal for those critical needs.

Bloomberg last fall announced what he called his own initial campaign commitment of $55 million, the largest gift in the history of Johns Hopkins. He designated portions of the gift for use throughout the Johns Hopkins institutions.

"Time and again, Mike has shown the depth of his commitment to Johns Hopkins and the breadth of his vision," Offit said of Bloomberg. "His leadership as chair of the Initiative and as vice chair of the trustees has been extraordinary, and I am personally delighted to congratulate him as my successor."

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