June 26, 2014

Contact: Matt Lazier

Chairman of Raytheon and Retiring Apple CFO to Lead Cal Poly Foundation

SAN LUIS OBISPO — Members of the Cal Poly Foundation elected William Swanson, chairman of Raytheon Co., to serve as the new chairman of the foundation’s board of directors. In addition, Peter Oppenheimer, retiring senior vice president at Apple who served as the company’s CFO for 10 years, was elected to serve as vice chairman of the board.

Swanson, a 1973 graduate of Cal Poly in Industrial Engineering, has been a member of the Cal Poly Foundation board since its founding in 2006. He previously served as the board’s vice chair.

“I am honored to serve the university as chairman of the Cal Poly Foundation,” Swanson said. “As a proud alumnus, I know firsthand the value of a Learn by Doing education, which has served me well during my career. I look forward to leading the board and helping to ensure Learn by Doing continues to provide the educational foundation for future generations of Cal Poly students."

Oppenheimer, a 1985 graduate of Cal Poly in Agricultural Business, also has been a member of the Cal Poly Foundation board since its inception.

“I’m proud to have studied at Cal Poly and continued my relationship with the university for so many years,” Oppenheimer said. “It has also been a privilege to work with the foundation on making the student experience even better and creating greater opportunities for students who come to Cal Poly.”

“We are thrilled to have William Swanson and Peter Oppenheimer serve as leaders of the Cal Poly Foundation,” said Cal Poly President Jeffrey D. Armstrong. “They are two extraordinary individuals, and their experience and leadership will be a tremendous asset to the foundation and the entire Cal Poly community.”

Deborah A.W. Read, vice president for university advancement and CEO of the Cal Poly Foundation, added, “The university is very fortunate to have these two remarkable individuals lend their talents to the Cal Poly Foundation. Their outstanding leadership, integrity and commitment is appreciated and will ensure that the university’s philanthropic priorities and goals are achieved.”

As of June 2013, the Cal Poly Foundation — a 501(c)3 corporation — was recognized by the National Association of College and University Business Officers (NACUBO) as the second largest endowment nationally among all public masters-level universities. Since then, the endowment has grown to an all-time high of $194 million. Additionally, for the past 10 years, the Cal Poly Foundation has ranked among the top 25 percent of university endowments for total average return. The Cal Poly Foundation is ranked first among all 23 universities in the California State University system.

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