Stanford's President Views the Future for his Charge. (May 9, 2013)

The President of one of the world's leading research universities, Stanford's John Hennessy (60) has been its top administrator since 2000. He received his bachelor's in electrical engineering from Villanova University and Master's and PhD degrees in computer science from the State University of New York at Stony Brook. He joined the Stanford faculty at the age of 27 becoming professor of Electrical Engineering and Computer Science a decade later.

Below are excerpts of his May/June column in the Stanford magazine (stanfordmag.org) in which he outlines his assessment of how to future proof his university.

Over the past 30 years in particular, the University's ability to anticipate and embrace change has been key... For example, we have utilized the physical proximity of our schools to encourage collaboration and a more multidisciplinary approach to research and teaching... The average number of awards won by today's professoriate is more than double what it was 30 years ago.

To attract the most promising young scholars, Stanford significantly increased graduate student support. Twenty-five years ago, 71 percent of our graduate students received some form of financial support; today it's 85 percent. Since 2000, the University's own fellowship funding for graduate students has roughly tripled.

Discovery does not happen in outmoded facilities, and over the past 25 years, Stanford's campus has been renewed... Stanford's financial strength... has made these investments possible. Over the past 30 years, Stanford's endowment per student grew 6 percent annually, after inflation. University revenue increased an average of almost 3 percent per year... External research funding, which drove the growth of the University from the 1960s through the end of the last century, contributes 9 percent less to annual revenue than it did 30 years ago. Endowment income, up from 6 to 21 percent of annual revenue, plays a far bigger role today. Although this change will not completely insulate us from the risk of reductions in the government's investment in research, the larger endowment provides much needed security.

We cannot rely on past approaches to fuel future innovation... The philanthropy of alumni and friends, a significant contributor to Stanford's rise to excellence, will be even more critical.