Jane Mendillo, chief executive officer of Harvard Management since 2008, has been rebuilding the company’s internal trading operations, which shrank amid Meyer’s departure. Mendillo said in June that she is resigning as CEO at the end of the year. The board overseeing the company is conducting a search for her replacement.
In 2010, the university said it would alter compensation, tying senior management pay to the entire fund’s performance while reducing bonuses if there were negative returns. It said more than 90 percent of the pay was tied to returns and that bonuses often reflected several years of gains and losses relative to a benchmark.
“HMC’s overarching compensation strategy is to maximize alignment of interests between our investment management teams and the university,” Mendillo wrote in a 2010 letter to the school’s alumni.
David Kaiser, a member of the class of 1969 who helped write the new letter to Faust, said he hadn’t received a response yet. The class is scheduled to meet with the president next month as part of its 45th reunion, according to the letter.
The other signatories from the Class of 1969 were Laurence Brunton, Paula Caplan, Jim Davidson, Stanley Eleff, Barbara Foley, Jonathan Hoffman, Kenneth Jost and Robert Shetterly.