Case Western Reserve University's Board of Trustees appointed two new members during its October meeting. Joining the board are Caroline A. Kovac, managing director of Burrill & Company, and Paul M. Ostergard (B.A., 1961), retired president and CEO of Junior Achievement International.
"Over the past three years the Board's Committee on Trustees has moved to broader national representation by actively recruiting diverse members of our alumni and community to volunteer for our Board," said Joie Gregor (GRS '74), committee chair and board vice chair. The board has increased alumni representation to 86 percent and greater representation from outside Ohio to percent. Both Kovac and Ostergard will serve to 2011 with a renewable 4-year term, bringing the total number of board members to 37.
"Service to our communities, country and the world is an ideal that Case Western Reserve University likes to see in its students and graduates. These new board members have provided extraordinary service to their country in advancing the lives of young people and serve as role models of what it is to be a socially responsible corporate citizen," said interim Case Western Reserve University president Gregory Eastwood, M.D.
Kovac is a strong advocate and mentor for increasing the numbers of women in science and math. The native of Chardon, Ohio, who now makes her home in Connecticut, serves on the board of directors for the Foundation of the National Institutes of Health and Research!America. She is also a board member of the non-profit Africa Harvest, which seeks to improve the health and economic well-being of Africans through the use of advanced agricultural biotechnology methods.
As the managing director for Burrill & Company, Kovac oversees investments for the life sciences merchant bank in the development of medical, agricultural and industrial biotechnology, pharmaceuticals, diagnostics, devices and other related health and medical technologies. She is a 23-year veteran of IBM, where she was most recently the founder and general manager for IBM's $5B business in healthcare and life sciences.
Her contributions have been recognized by Fortune magazine as one of the 50 most powerful women in business and as an inductee into the Women in Technology International Hall of Fame (2002).
Kovac earned her Bachelor of Arts degree from Oberlin College in 1974 and the doctorate of chemistry from University of Southern California in 1981.
Ostergard is dedicated to advancing the abilities and education of young people. He graduated from the university in 1961 magna cum laude in political science and earned a law degree from the University of Michigan Law School in 1964, a Master of Public Administration from Harvard University in 1969 and a diploma of Hispanic Studies from the University of Madrid (Spain).
As chairman and CEO of the Citigroup Foundation from 1990-99, Ostergard reshaped a $100 million per year community investment program worldwide to focus on community development including micro-credit, to champion improvements in K-12 education and to emphasize college financial aid for minority students.
Prior to that Ostergard was president and CEO of the General Electric Foundation where he launched "College Bound"—a program dedicated to doubling the number of students from inner-city schools accepted to college. The program received Harvard University's Dively Award for Corporate Social Responsibility in 1990.
After heading two of the largest corporate foundations in the United States, Ostergard helped actor Paul Newman launch the Committee to Encourage Corporate Philanthropy, a group of almost 100 CEO's committed to increasing corporate giving. In 2001 he continued his work in education as president and CEO of Junior Achievement International, overseeing programs in more than 100 countries to help young people gain skills for higher education and the workforce.
Currently he is a board member and acting president and CEO of the Hispanic Scholarship Fund which makes grants of about $25 million a year to Latino students, and conducts pre-college programs to increase numbers of students who are college bound. Ostergard is a trustee of the Master Card Foundation, and a member of the board of the Bond Market Foundation. He is also on the board of Scholarship America.
He is originally from Akron, Ohio, and now makes his home on Hilton Head Island in South Carolina.
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