Frederick A. Rogers, Cornell University's senior vice president and chief financial officer, announced today (Dec. 9, 1999) that he will be stepping down from that position to assume the presidency of a new Internet company that will serve the education community.

Rogers, who is resigning effective Jan. 31, 2000, has served as Cornell's chief financial officer since 1990 and as the senior vice president since 1995. In announcing his resignation, he expressed his desire to work full time in the development of innovative business solutions for higher education by bringing the best of the business world to bear on the critical issues of university and college management and administration.

"My years at Cornell have been extraordinarily satisfying, from both a personal and professional perspective," said Rogers, "and I have learned from and enjoyed the opportunity to work with so many dedicated people on campus and in the local community. I look forward to working with my colleagues here and on other campuses as we launch this company in the new year."

Cornell President Hunter Rawlings paid tribute to Rogers' many contributions to the university over the past decade: "Fred Rogers has been a leading officer of the university since 1990. His contributions to the administrative and financial health of the institution have been extraordinary. Under his leadership, the university has restructured most of its outstanding debt, resulting in aggregate savings approaching $100 million.

"He has pointed the way to innumerable improvements in our administrative structures, consolidating functions and improving service. He has played a key role in such major projects as the reorganization of the Investment Office, the restructuring of the Cornell Research Foundation, the formation of the Weill Medical College's physicians' organization, Cornell Columbia Care, LLP, the expansion of the Cornell Business and Technology Park and the initiation of the Lake Source Cooling project.

"I wish Fred every good fortune in his new enterprise, and I greatly appreciate his willingness to continue to be available to me and the rest of the administration in the year ahead for consultation on a wide variety of administrative and financial matters," Rawlings said.

In addition to his many accomplishments at Cornell, Rogers has played a significant role in professional activities at the national and local levels. He is currently the chairman of the board of directors of the Council of Government Relations (COGR), a Washington, D.C.-based organization of university professionals concerned with improving the government-campus interface. He has served in many capacities with the National Association of College & University Business Officers and as an accreditation team member for the Middle States Association.

At the local level, he has been a board member of the Tompkins County Area Development Corp., the United Way of Tompkins County and the Tompkins County Foundation, among other groups. He is a former trustee of the Lebanese American University, where he served as vice chairman of the board. Rogers came to Cornell in 1990 from Carnegie Mellon University, where he served for 16 years, the last nine as the chief financial officer.

The search process for a successor will be initiated during the spring semester.