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Stephen Cohen Named Vice President and Chief Financial Officer of Howard Hughes Medical Institute

Stephen Cohen Named Vice President and Chief Financial Officer of Howard Hughes Medical Institute

Summary

Stephen M. Cohen has been elected vice president and chief financial officer of the Howard Hughes Medical Institute by its Trustee, it was announced today by Purnell W. Choppin, M.D., president of the Institute.

Stephen M. Cohen has been elected vice president and chief financial officer of the Howard Hughes Medical Institute by its Trustees, it was announced today by Purnell W. Choppin, M.D., president of the Institute.

Cohen, 45, will join the Institute from the Yale University School of Medicine, where he has been deputy dean for finance and administration since 1995, and previously served as associate dean for administration and director of finance.

"Steve Cohen brings just the right skills to one of the most important jobs at the Institute," Choppin said. "He will oversee the financial operations for an organization with an endowment exceeding $10 billion, and coordinate many of its computer initiatives and administrative activities. Steve understands the special needs of biomedical researchers and the institutions where they work, and we're delighted he is joining us."

The Howard Hughes Medical Institute, the nation's largest private philanthropy, is a biomedical research organization whose investigators carry out research at 72 sites nationwide. In addition, through its complementary grants programs, the Institute works to enhance science education at all levels within the United States and support the research of outstanding biomedical scientists in selected countries abroad. HHMI's budget for the fiscal year beginning in September will exceed $500 million.

Cohen will become one of five vice presidents in the organization; the others oversee science, grants and special programs, investments, and legal matters. He succeeds Jon C. Strauss, who recently left the Institute to assume the presidency of Harvey Mudd College in California.

In his new position, Cohen will supervise a number of critical functions within the Institute, including financial operations, information technology, human resources and internal audit at the Chevy Chase headquarters and HHMI sites nationwide. In many of these activities, the Institute works closely with the universities, medical schools and other academic institutions where its scientific teams are located.

Among these host institutions is the Yale University School of Medicine, where Cohen currently oversees a wide variety of administrative and financial activities. Since assuming his current position two years ago, he has restructured the school's information technology services, implemented new financial planning systems and improved the operation of several key services. Previously, he helped reorganize many of the school's clinical activities and information systems.

Before coming to Yale in 1977, Cohen had been a senior financial analyst at the New York Stock Exchange and an operations analyst at Citibank in New York. He received an M.B.A. from New York University in 1976 and a B.A. from Pennsylvania State University in 1974.