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Fundraising Leader To Retire Next Year

By Marie Y. Thibault
ASSOCIATE NEWS EDITOR

Barbara G. Stowe, vice president for resource development, will retire at the end of the academic year. Her retirement, announced on Tuesday, Nov. 15, will end of a 25-year MIT career and 11-year vice-presidency.

The announcement of her retirement is the latest in a series of recent resignations and retirements among upper-level administrators after a transition period following Susan Hockfield’s becoming president of MIT.

Hockfield told the MIT News Office that Stowe had planned to retire for several months, but postponed her plans “to introduce [Hockfield] to fundraising at MIT, including visits with some of our most generous benefactors,” something for which she is “extraordinarily grateful.”

Hockfield is approaching the end of her first year as president, a year during which she asked all top administrators stay at MIT.

A major success of Stowe’s vice-presidency was the Campaign for MIT, which she headed. In November of 2004, the campaign reached the $2 billion mark, exceeding an expectation of raising $1.5 billion by September of that year. In this campaign, 66 percent of funds came from individuals, a marked increase from previous campaigns, in which 42 and 37 percent of funds were given by individuals.

President Emeritus Charles M. Vest told the News Office that Stowe “realized the potential of MIT to receive major support from the international community, when many others doubted the potential for doing so.”

According to TechTalk, before becoming vice president for resource development in 1994, Stowe held positions as the director of foundation relations and development services, assistant dean for resource development in the School of Humanities, Arts, and Social Sciences, and director of health sciences development.