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MassDevelopment Names Robert L. Culver as New President and CEO
February 4, 2004
Boston, Massachusetts. The MassDevelopment Board of Directors today named Robert L. Culver as its new President and Chief Executive Officer, announced Robert L. Beal, Chairman, and David F. Squire, Vice Chairman. Mr. Culver will assume his new duties in March 2004. He most recently served as Vice President for Finance & Administration at Yale University.
In his position at Yale, Mr. Culver was responsible for the University's financial services, facilities management, construction, human resources management, auxiliary support services, student administrative and financial services, internal audit, and information technology. He managed a $1.6 billion annual operating budget, and an annual capital budget of $200 million.
Mr. Culver has also served as Executive Vice President and Chief Financial Officer for the Cabot Corporation, where his duties, in addition to that of CFO, included corporate planning and real estate management; and as Senior Vice President and Treasurer at Northeastern University, where he was responsible for the planning and completion of capital projects. Before his tenure at Northeastern, Mr. Culver was with Coopers & Lybrand for 11 years serving as a partner in charge of Health Care Consulting for the Northeast Region; and with the MBTA and the Cambridge, Massachusetts School Department in management positions.
Mr. Culver holds a Masters in Public Administration from the Kennedy School of Government at Harvard University and a Masters Degree from the London School of Economics and Political Science. He has also completed advanced graduate studies at Cambridge University and graduated cum laude from SUNY Buffalo with an undergraduate degree in history. His current and past professional memberships and affiliations include Northeastern University, the New England Conservatory of Music, Niagara Mohawk Holdings, Inc., US Trust and the Boston School Committee. Mr. Culver currently resides in Milton.
"I am pleased that a person of national experience and reputation has been chosen to lead this critical economic development agency. I look forward to working with Bob Culver and his entire team to create more jobs in Massachusetts," said Governor Mitt Romney, who recently met with Mr. Culver.
"We believe that Bob Culver has the financial, planning and management skills and expertise necessary to enable MassDevelopment to build on its many successes and position the organization for future opportunities," said Mr. Beal. "We were pleased with the caliber of candidates identified, and we are thrilled with the outcome of the thoughtful and thorough search process. We are excited to have Bob join the MassDevelopment team," added Mr. Squire.
"I consider it both an honor and a privilege to take on this exciting role and work with a quality team that is committed to advancing the Massachusetts economy," said Mr. Culver. "I look forward to working with the Romney Administration on economic development issues that affect the business community and the cities and towns of the Commonwealth."
MassDevelopment is the state's economic development authority, working with businesses and local officials to provide the financial tools and real estate expertise needed to stimulate economic growth across the state of Massachusetts. In fiscal year 2003, MassDevelopment financed $860 million in projects statewide, resulting in the creation of over 5,300 jobs, the retention of nearly 26,000 jobs, and 4,000 new housing starts.
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