Sylvia Mathews Burwell ‘87 and Michael S. Chae ‘90 will become fellows of the Harvard Corporation, the senior governing board, the University announced March 31 in a message to the community. They will begin serving on July 1, filling two of the three vacancies on the board. Venture capitalist Kenneth I. Chenault J.D. ’76 and private equity investor Karen Gordon Mills ’75, M.B.A. ’77, who have served since 2014, conclude their service at the end of June. Carolyn A. “Biddy” Martin, a leader in higher education appointed in 2018, completed her service earlier this year. Burwell and Chae join the board at a time when the University faces key resource challenges to its role as a leading academic research institution.
Burwell, who served as U.S. Secretary of the Department of Health and Human Services under President Barack Obama from 2014 to 2017, was appointed president of American University later that year, serving until 2024. She has also held leadership roles at the Gates Foundation and the Walmart Foundation, two major U.S.-based philanthropies. Earlier in her career, she was director of the federal Office of Management and Budget and chief of staff to former Corporation fellow Robert Rubin when he was Secretary of the Treasury. Burwell has been a member of the Board of Overseers, Harvard’s alumni-elected governing board, since 2023, when she shared her views on the challenges facing Harvard at that time, such as the speed of change, a growing suspicion of expertise, and broad-based questioning of the value of education. Currently, she is serving as president of the board for the 2025-2026 term, which will conclude in May.
“I am honored to have the opportunity to serve Harvard, an institution that has changed the lives of so many through excellence in its core mission of teaching and research,” said Burwell in a statement. “Harvard’s research saves lives and makes vital progress on conditions from diabetes to dementia. I humbly look forward to working with my colleagues to support President Garber, the faculty, and the staff in delivering on that core mission with excellence and with the values of free inquiry, viewpoint diversity, academic exploration, and respect and belonging for all members of our community. I hope to be a part of taking that mission and those values into a better future for society that is both challenged and changing.”
Chae, who has served on the board of directors of Harvard Management Company (HMC) since July 1, 2024, is vice chairman and chief financial officer of Blackstone, where he has worked for the past three decades. Blackstone is the world’s largest manager of alternative assets (such as private equity)—the dominant category of HMC’s endowment investments—and Chae oversees the firm’s financial strategy.
Chae is also a member of the Faculty of Arts and Sciences Dean’s Council and the Committeeon University Resources, and he has supported undergraduate financial aid and academicinitiatives in the social sciences. He serves on the board of the Robin Hood Foundation, aleading anti-poverty organization in New York City, and several other non-profit organizations.
At a time when Harvard faces both historic challenges and opportunities, said Chae in a statement, “Harvard’s mission of excellence in learning and research has never been morevital…. I look forward to working with the University’s leadership and the Corporation’smembers to help Harvard fulfill this critical mission.”
In their message to the Harvard community, President Alan M. Garber and Senior Fellow Penny Pritzker highlighted the qualities of the new fellows.
Burwell, they said, “is known for her integrity, thoughtfulness, and data-informed decision-making, as well as her ability to engage constructively with stakeholders across political and ideological lines.” Chae, “A deeply devoted alumnus, has supported undergraduate financial aid and the work of the economics and government departments, as well as other significant University initiatives. An expert in the management of complex financial institutions with deep knowledge of corporate governance,” they added, he “is widely respected for his collegiality, humility, and rigor.”
