Herbert F. Aspbury Named Chairman of Villanova University Board of Trustees

Aspbury has served as a Villanova Trustee since 1999, most recently as Vice Chairman

FOR IMMEDIATE RELEASE
April 14, 2008

VILLANOVA, Pa., – Villanova University announced that its Board of Trustees has elected Herbert F. Aspbury as chairman. Aspbury succeeds John G. Drosdick, chairman, chief executive officer and president of Sunoco Inc., who served as chairman of Villanova’s Board of Trustees since 2001.

Aspbury (Villanova ’67) is a resident of New Canaan, Conn., and spent his career in banking. In addition to leading the North American Division at Manufacturers Hanover, he was also the London-based head of Europe for Chemical Bank following the 1991 merger of the two institutions. Aspbury retired in 2000 from Chase Manhattan Bank, where he served as the senior managing director for Europe, Africa, and the Middle East. He also sits on the board of the Royal Oak Foundation, the U.S. arm of Britain's National Trust, and was its chairman from 2004-2007. Currently Aspbury is a member of the Board of Directors of Exide Technologies in Alpharetta, GA, and heads its finance committee. Since 2002, he has also held the position of Adjunct Professor at the Fisher Graduate School of International Business of the Monterey Institute of International Studies, where he teaches an international finance course.

"Herb will bring tremendous wisdom and enthusiasm to the role of chairman of the Villanova University Board of Trustees,” said University President, Rev. Peter M. Donohue, O.S.A. “He has been actively involved in many different aspects of the institution, embraces its mission, and has a keen sense for what needs to be done to prepare Villanova for the future. Herb, Jack Drosdick and the entire Board of Trustees represent a community of alumni, parents, and friends who are willing to share their knowledge and experience to benefit the University and move it forward. We are fortunate to have this kind of leadership at Villanova, and I look forward to working with Herb in his new role."

"I am both thrilled and honored to have been elected chairman of the Villanova University Board of Trustees,” said Aspbury. “Upon joining the Villanova University Alumni Association Board of Directors in 1994, I became intrigued by how much Villanova had grown and evolved since my graduation in 1967. As a Trustee for the past eight years, I've seen that our potential for the future is enormous. I am extremely proud of my alma mater and look forward to playing a significant role in the years ahead."

A member of the Board of Trustees since 1999, Aspbury most recently served as vice chairman and chair of its finance and audit committee. He was also a member of the steering committee and chair of the major gifts committee for The Campaign for Villanova, the University’s $300 million capital campaign, which successfully concluded in December 2007. Aspbury served on the Villanova University Alumni Association Board of Directors for 10 years, including two years as its president from 2001-03. In addition, he serves as the chair of the advisory council for the Center for Global Leadership in the Villanova School of Business (VSB). In 1992, he was awarded an Alumni Medal for outstanding and extended service to Villanova University.

Aspbury graduated from Villanova University in 1967, earning a Bachelor of Arts degree in English, and is also a graduate of the Harvard Business School Program for Management Development in 1980. His longtime commitment to Villanova has contributed to the University’s overall success and has provided many students the opportunity for a Villanova education. Aspbury and his wife, Victoria, established and endowed a University scholarship in 1991 and in 2006, made a commitment to create an endowed fund to support VSB’s Center for Global Leadership.

Villanova University is a co-educational Roman Catholic institution founded by the Order of Saint Augustine in 1842. The University offers a wide variety of undergraduate and graduate degree programs through four colleges: the College of Liberal Arts and Sciences, the Villanova School of Business, the College of Engineering, and the College of Nursing, as well as the Villanova School of Law. With a total enrollment that surpasses 10,000 undergraduate, graduate, and law students, Villanova is the oldest and largest Catholic university in the Commonwealth of Pennsylvania. For more information see www.villanova.edu.

(For a photo of Mr. Aspbury, please contact Jonathan Gust, Director of Media Relations)