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Faust Joins Goldman Sachs Board of Directors Days After Exiting Presidency | News | The Harvard Crimson

Former University President Drew G. Faust, pictured her in Feb. 2018, will likely see significant financial perks in her new job. Photo: Amy Y. Li

By Kristine E. Guillaume, Crimson Staff Writer July 5, 2018

Former University President Drew G. Faust has joined the board of directors of Goldman Sachs, the company announced in a press release Thursday.

The move comes less than a week after Faust ended her 11-year tenure at the helm of the nation’s oldest university. Her appointment to Goldman Sachs’s board as an independent director will expand the group from 11 to 12 members.

Goldman Sachs Chairman and Chief Executive Officer Lloyd C. Blankfein ’75 praised Faust for leading Harvard through “a decade of growth and transformation” during her presidency in an emailed statement Thursday.

“Her perspective and experience running one of the most complex and preeminent institutions in the world will benefit our board, our firm and our shareholders,” Blankfein wrote.

…(read more).


Goldman Sachs | Board of Directors – Drew G. Faust

Key Experience and Qualifications

  • Institutional and risk management: Former President of Harvard University who, among other things, broadened the university’s international reach, promoted collaboration across disciplines and administrative units and helped to oversee the risks related to the university as well as the management of its endowment, all of which provides perspective on operational oversight and risk management of the firm
  • Leadership and Governance: Current and prior service on the boards of directors of public and not-for-profit entities provides additional perspective on governance
  • Human Capital and Diversity: Well-positioned to provide insight on the firm’s strategies relating to diversity, recruiting and retention

Career Highlights

  • Harvard University
    • Lincoln Professor of History (Jan. 2001 – Present)
    • President (Jul. 2007 – June 2018)
    • Founding Dean, Radcliffe Institute for Advanced Study (Jan. 2001 – Jul. 2007)
  • University of Pennsylvania (1975 – 2000); various faculty positions including as the Annenberg Professor of History and the Director of the Women’s Studies Program

Other Professional Experience and Community Involvement

  • Member, Educational Advisory Board, John Simon Guggenheim Memorial Foundation
  • Member, American Academy of Arts & Sciences
  • Former Member, Board of Directors, The Broad Institute Inc.
  • Former Member, Board of Directors, Harvard Management Company Inc.


  • Graduate of Bryn Mawr College and the University of Pennsylvania

Biofuels, Land Grabs, and the Right to Food: The Legacy of Colonialism and the Evolution of the Global Food System

The development of biofuels on a global basis has been a direct assault on the food supply of the most vulnerable populations of the world. These are, in reality, only the most recent chapters in a long history of manipulation and abuse of the agricultural systems of the world’s poorest and most vulnerable populations. The historical development of the international trade in foodstuffs during the Atlantic slave-trade and the subsequent re-organization of tropical agricultural production to favor “cash crops” under colonial domination has led to the current stark division of agricultural production on a global scale. Grains are shipped in bulk to the “Global South” in exchange for “tropical cash crops” shipped to the “Global North” through what was for a long time justified in terms of “the economics of comparative advantage.”

The most recent phase of this global reorganization of agriculture on the Earth’s surface occurred in a remarkably short period of time — effectively less than the life-time of an average adult in the Western World in the post-World War II era.  Because of the innovations introduced by Norman Borlaug and promoted by the Ford Foundation, the Rockefeller Foundation and agricultural organizations that they funded including IFPRI and CGIAR the world food system was transformed in essence from a “solar sustainable” system into one that has become entirely “petro-dependent.”  The so called “Green Revolution” was in this respect both a “breakthrough” and phenomenal success story, on the one hand, and a truly breath-taking failure or “wrong turn” in the historical evolution of agriculture, on the other.

The reason for the starkly contrasting assessments of the “Green Revolution” becomes apparent when the “energetics” of agriculture are analyzed in detail.  In the post-World War II era, it seemed that the costs of the “inputs” to agriculture were phenomenally cheap.  Land was available, water seemed plentiful, especially with the adaptation of irrigation technology and the “cost” of petroleum was even cheaper than that of water — or so it seemed.  The so called “Green Revolution” succeeded precisely because of these “cheap” inputs.

In the final decades of the 20th century, however, it has become apparent that those “cheap inputs” were squandered in the rush to expand immediate production levels.  The expansion of human food supplies was truly phenomenal, resulting in a tripling of Earth’s human population between 1945 and 2018.  But while production increased dramatically, productivity actually declined as the system as a whole came to depend upon 1) non-renewable inputs (fossil fuels, ammonia-based fertilizers, pesticides, herbicides, etc.) or 2) renewable inputs that were exploited beyond the point of their capacity to be renewed (fossil water from aquifers, natural topsoil fertility, biogenetic diversity, etc. )

In reality, hidden from view in assessing the “costs” and “benefits” of this transformation was the total miscalculation in the equations of the subsidies provided to the emerging global system from fossil fuels and natural ecosystemic cycling systems that were destroyed in the frantic rush to promote petro-intensive agriculture.

See related:

and the works of:

as well as:

While all the achievements of the Green Revolution were impressive in fueling the fastest growth spurt of the human population in the history of the world, they did so by sacrificing the future sustainability of agriculture on the Earth’s surface.  Civilizations that transform their solar sustainable systems to a permanent dependence upon non-renewable resources cannot and will not themselves be renewed.  They will collapse in the future as surely as they have in the past. 

For further background material see:


as well as:Food-matters-crd

T.C. Weiskel

Property and Dispossession: Natives, Empires and Land in Early Modern North America (Studies in North American Indian History): Allan Greer

Allan Greer examines the processes by which forms of land tenure emerged and natives were dispossessed from the sixteenth to the eighteenth centuries in New France (Canada), New Spain (Mexico), and New England. By focusing on land, territory, and property, he deploys the concept of ‘property formation’ to consider the ways in which Europeans and their Euro-American descendants remade New World space as they laid claim to the continent’s resources, extended the reach of empire, and established states and jurisdictions for themselves. Challenging long-held, binary assumptions of property as a single entity, which various groups did or did not possess, Greer highlights the diversity of indigenous and Euro-American property systems in the early modern period. The book’s geographic scope, comparative dimension, and placement of indigenous people on an equal plane with Europeans makes it unlike any previous study of early colonization and contact in the Americas.


Published on Oct 26, 2011

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