CSUCI president steps down, joins DataPhilanthropy
CSU Channel Island is undergoing a leadership change as President Richard Yao steps down this summer to join the Trade Desk founder Jeff Green’s family foundation.
Yao will leave his post effective Aug. 1, an unusually rapid departure for a CSU president, and he will transition quickly to the presidency of DataPhilanthropy as the foundation’s giving arm is called. Green has signed the Giving Pledge, which promises to devote most of his Trade Desk fortune to philanthropy.
Forbes, Bloomberg and other media organizations estimate Green’s net worth at between $4.1 billion and $4.3 billion, most of it due to the value of his shares in the Trad Desk, a digital advertising marketplace.
During his nearly five years at the helm of CI, Yao has made data-driven results the hallmark of his academic leadership.
“It has been the greatest honor of my professional life to serve as President of CSUCI,” said Yao in a statement. “This campus has demonstrated remarkable strength and resilience through an era of unprecedented challenges.”
One member of the CI Foundation Board described Yao’s farewell letter as thoughtful and said the DataPhilanthropy position will allow him to pursue his desire for “deep dives” into quantifying the results of giving initiatives.
During Yao’s tenure, CSUCI navigated the Covid-19 pandemic wildfires and declines in enrollment. The university saidin a statement that “investments in enrollment management and student success are now showing signs of progress for the University, including a 5% increase in continuing student retention.”
Among the accomplishments of his administration were re-accreditation from WASC, its accrediting body, and a jump in the university’s endowment to over $90 million from $26 million in 2021.
“After four and a half years of extraordinary collective work, I believe the University is poised for renewal and a powerful new chapter,” Yao said.
In his new role, Yao will retain strong ties to CI as the Green Family Foundation has pledged $8.5 million in philanthropic investments for scholarships and campus initiatives focused on equity and access.
Jed Nahum, Vice President of Metrics at DataPhilanthropy welcomed Yao’s experience as DataPhilanthropy expands new metrics to “all the organizations that we fund.”
Yao received his doctorate from Fielding Graduate Institute in Santa Barbara and served as a psychologist before becoming involved in higher education.
CI said in a statement that an announcement about new leadership on campus would be made in the coming weeks.
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