AMERICAN ACADEMY OF ARTS AND SCIENCES BEGINS SEARCH FOR NEW PRESIDENT AND CEO; ADDRESSES ISSUES ON LEADERSHIP AND GOVERNANCE TO MEMBERSLeslie C. Berlowitz Resigns
July 25, 2013
In a letter to its members today, The AmericanAcademy of Arts and Sciences announced the search for a new President and CEO, and theresignation of Leslie C. Berlowitz, effective Wednesday, July 31. The Academy also informsits members on issues related to leadership and governance.The letter that was sent to American Academy of Arts and Sciences members follows:
Dear Member,I write on behalf of
the Academy’s Executive Board, to inform you about three actions we have
taken regarding our leadership and governance.First, the Board has decided to begin a search for a new President and CEO, and we haveentered into an agreement with Leslie Berlowitz regarding her resignation from the AmericanAcademy following 17 years of service.Under the circumstances, we believe it is important to provide the membership theinformation related to the agreement. As you know, Ms. Berlowitz presently is on paidadministrative leave. Pursuant to this agreement, she will resign effective July 31, 2013. Shewill receive her salary through that date, plus a one-time payment of $475,000, andsupplemental health insurance for 5 years at a cost not to exceed $3,500 per year. Thepayment represents vested retirement benefits to which Ms. Berlowitz is contractually entitled,and a resolution of claims pertaining to unused vacation time and other deferredcompensation. The agreement does not call for any severance payment.The agreement has been reviewed by independent legal counsel, and the Board has determinedthat this agreement is i
n the Academy’s best interest.
Over the coming weeks, we will communicate with the membership regarding the separatetask of identifying a new President and CEO. We anticipate this will take some months.Meanwhile the Academy staff are well qualified to carry on all our work.