Principia continues to make great strides in a revitalizing and progressive process of renewal. At the board level, we are actively working to refocus and update how the Board of Trustees performs its key duties of oversight, the establishment of policy, and strategic planning. We’d like to share our progress and communicate some important decisions in support of the regeneration currently underway at all levels of the School and College.

Last fall we retained Dr. William Weary of Fieldstone Consulting, Inc. to conduct a comprehensive governance audit of Principia. This audit included interviewing approximately 100 diverse Principians to understand how decisions are made at the institution. Dr. Weary examined legal and corporate documents from the perspective of current best practices and within the context of Principia’s Purpose and Policies. During the past year, the Board’s Governance Committee has spent countless hours working independently and with Dr. Weary to determine what actions needed to be taken with respect to governance at Principia. In addition, the Board held two meetings devoted to the principles of governance and the bylaws required to realize them. We also carefully considered internal management structures.

In its 110-year history, Principia has operated under several administrative and board structures. Changes have been made to these structures deliberately and have remained scrupulously faithful to the Purpose and Policies, as outlined under the active leadership of Mary Kimball Morgan. The changes being announced today are consistent with those standards. In addition to considering best practices, this Board has gone to its knees in prayer, listening for the next steps to lead Principia forward.

The recent governance audit took place during a time of significant positive change in Principia’s leadership:

• Since stepping in as Head of School last summer, Marilyn Wallace has drawn from her dynamic experience as an educator to rethink the curriculum and educational structure, open discussions with parents and faculty, and focus on professional development for faculty and staff at all levels.
• Last month, incoming College President Jonathan Palmer arrived on campus and immediately began working with his “Tiger Teams” of eight faculty and eight staff to address three crucial areas including general education requirements and offerings, scheduling, and learning assessment. 
• Interim Chief Executive David Anable, who took over in October of last year, has brought a renewed focus on communication as he has helped navigate during this period of immense change.
• Eighty percent of the current Trustees are newly elected within the past two years, and we are determined to help promote Principia’s regeneration and its continued unfoldment as a divine idea.

Within this context of ongoing renewal and based on the results of the governance audit, the Board has taken the following actions:

1. We endorsed the current structure that separates the offices of Chairman of the Board and Chief Executive, with the Chief Executive reporting to the Board and the Head of School and College President managing, controlling, and directing the educational activities and other affairs of their respective campuses while reporting to the Chief Executive. The two campus heads will also have a direct reporting relationship to the Board and will attend all Board meetings (except when the Board is meeting to elect Trustees or in executive session). 
2. We will begin a search for a new Chief Executive immediately.
3. We asked David Anable to continue as our interim Chief Executive until the end of the 2008-2009 academic year or until a new Chief Executive is hired. David agreed to do so.
4. We amended the Bylaws to strengthen Principia’s alignment with current best practices in education within the context of Principia’s own standards and policies. These revised Bylaws will be posted on the Trustee website in early September after the ratification process is complete. Some of the most significant changes are that the Bylaws:
• Specifically describe matters over which the Board has authority;
• Increase the maximum number of Trustees from 15 to 22;
• Provide that Trustees shall serve a maximum of three consecutive three-year terms and shall be eligible for re-election after they have been off the Board for at least one year; and
• Establish the Board officers as Chair, Vice Chair, Secretary, and Treasurer. These officers will typically serve for three consecutive years but not more than five consecutive years.
5. We established the following Committees, through which much of the Board’s work will be performed: Advancement, Audit, Education, Facilities, Finance, Investment, and Trusteeship. Most of these committees will be comprised not only of Trustees, but also of non-Trustees, who may be drawn from faculty, staff, students, alumni, and friends of Principia. There will also be an Executive Committee comprised of the Board officers and one additional Trustee. All committees will have written policies and be given annual charges.

Annual assessment goals will play an important role for all leadership positions going forward, including the Board of Trustees and its committees. We view the current process as a forward-looking exercise to enable and empower Principia to take its next great steps onward.

Thanks to all who have supported the Board during this period of change and purposeful reconsideration. Please accept our sincerest gratitude for the role each of you plays in advancing the Christ-idea in education.

All best wishes for a joyous conclusion to your summer and a harmonious start of the school year,

The Board of Trustees