Carnegie Hall Elects New Chairman of Board of Trustees; Sanford I. Weill to Serve as President

Carnegie Hall today announced that Sanford I. Weill, Chairman of Carnegie Hall's Board of Trustees since 1991, will retire from this post after 24 remarkable years of service and a total of 32 years as a Carnegie Hall trustee. Mr. Weill will continue to serve as a member of Carnegie Hall's board, transitioning to a new role as President, a title formerly held by the late violinist Isaac Stern. Mr. Weill is only the second person to hold the title of President since Carnegie Hall was established as a non-profit in 1960.

Ronald O. Perelman, a Carnegie Hall trustee for 27 years since joining the board in 1988 and a Vice Chairman since 2012, was elected today as the new Chairman of the Board of Trustees at a meeting of the organization's Board of Trustees. He succeeds Mr. Weill as Chairman. Both Mr. Weill and Mr. Perelman assume their new posts effective immediately.

Sanford I. Weill said, "Since my earliest days of being involved at Carnegie Hall, Isaac Stern was an important mentor to me, passing on his passion for this amazing place. The two of us shared a vision for what the Hall could mean one day as an important center for music education and a place to bring people together through the power of music as a universal language. I feel proud to have worked for so many years with the entire Carnegie Hall family to support and advance this vision, and it is meaningful to me to now share this association with him as the Hall's next President. As always, I remain very excited about Carnegie Hall's future, and I know that Ronald Perelman, a longtime advocate of Carnegie Hall and my very good friend and colleague, will do a great job as our next Chairman. I look forward to working with him, Clive Gillinson, and the entire team as we continue to forge the path ahead."

Ronald O. Perelman said, "Carnegie Hall is known around the world for representing the best in music, and I've seen firsthand through my work as a Vice Chairman that the strong reputation that it enjoys today is due in large part to leaders in its history like Sandy who have been completely dedicated to fulfilling its mission. It's a great honor and privilege to serve as the Hall's next Chairman and to have the opportunity to build on such a strong foundation, working with the board, staff, and everyone who loves Carnegie Hall to envision a future that takes it into its next 125 years and beyond."

Clive Gillinson, Carnegie Hall's Executive and Artistic Director, said, "This new appointment appropriately honors Sandy Weill as one of the people who has most contributed to the history and legacy of Carnegie Hall. Sandy's incredible show of leadership over more than three decades has played an essential role in helping expand Carnegie Hall into the world-class institution as we know it today. We send our heartfelt thanks to both him and his wife, Joan, for the extraordinary personal commitment that they've shown over the years as we look forward to beginning this new chapter together."

Mr. Gillinson continued, "For many years now, I've had the pleasure of working closely with Ronald Perelman, a dedicated member of our board's leadership, a passionate music lover, and someone who is deeply committed to Carnegie Hall. We're delighted that he has accepted this new role as our Chairman and I'm excited to begin our work together, ensuring that the Hall continues to serve audiences and music in the very best way for many more generations to come."

About Sanford I. Weill

Under the leadership of Sanford I. Weill, the scope of Carnegie Hall's operations have grown dramatically as this world-class concert hall has transformed over the decades into a vibrant presenter offering an increased number and range of concerts. Carnegie Hall today is an institution poised to serve concertgoers of the 21st century through the finest music presentations allied to a central commitment to music education and community engagement. Important accomplishments during Mr. Weill's board tenure include an impressive series of historic renovations throughout Carnegie Hall's landmark building; a significantly strengthened financial profile; and major expansion of the Hall's music education programs, with the Hall now engaging close to half a million people in New York City, throughout the US, and worldwide.

Mr. Weill joined Carnegie Hall's Board of Trustees in 1983 and was elected Chairman in 1991. From the beginning of his service to the Hall, Mr. Weill worked closely with violinist Isaac Stern and board leaders to safeguard the famed concert venue, a building saved from demolition in 1960, however still in dire need of restoration. Upon joining the board, Mr. Weill co-chaired, with Chairman James D. Wolfensohn, the $60 million Campaign for Carnegie Hall, leading to the historic 28-week restoration of Carnegie Hall's main auditorium and recital hall in 1986, a project that modernized the Hall's facilities and brought these two concert venues back to their original glory. The Carnegie Hall Recital Hall was reopened in January 1987, renamed as the Joan and Sanford I. Weill Recital Hall in recognition of the Weills' leadership and generous support.

With these extensive renovations completed, focus was placed on building a solid financial base to support Carnegie Hall's programming with $75 million raised from 1992 to 1997 to establish Carnegie Hall's Endowment Fund. Thanks to the stewardship of Mr. Weill and his fellow trustees, Carnegie Hall's endowment has grown from $4 million in 1991 to $320 million today, contributing to the organization's strong financial profile. Carnegie Hall recently achieved credit ratings of A+ from Standard & Poor's and A1 from Moody's recognizing the organization's excellent fiscal health.

Among other major highlights of Mr. Weill's tenure as Chairman: in 2003, the completion and unveiling of Zankel Hall -- Carnegie Hall's modern, underground concert venue -- paved the way for expanded performance and education programming. The new $100 million hall, immediately popular with audiences, has enabled new dimensions to be added to Hall's programming mix, including concerts by both established and up-and-coming artists, adventurous new music programs, and increased world, jazz, pop, and rock music offerings.

Also in 2003, Carnegie Hall established the Weill Music Institute (WMI), the new umbrella under which the Hall's existing education and community programs would be significantly expanded with a goal of reaching increased local, national, and international audiences. The work of WMI was buoyed by a new endowment supporting music education created earlier in the year, with more than $60 million raised in one night at a March 2003 gala celebrating Mr. Weill's 70th birthday and his 20th anniversary as a trustee. Today, WMI is a leader in the field of music education, expected to reach half a million students, educators, young artists, and community members in 2015-2016, including more than 330,000 children and teachers through Link Up, Carnegie Hall's curriculum for elementary school students, which partners with 80 orchestras worldwide.

Most recently, Mr. Weill led Carnegie Hall's Studio Towers Renovation Project campaign, a comprehensive undertaking that has created inspirational new spaces for music education on the Hall's upper floors while also fully refurbishing the Hall's backstage areas and offices. The $230 million project, designed to support Carnegie Hall in transforming its facilities to meet the needs of artists and audiences in the 21st century, was capped with the opening of the new Judith and Burton Resnick Education Wing in September 2014. Programs housed in the new wing include interactive events for families and New York City public school students; rehearsals and training workshops for young professional musicians; and professional development for educators. Adjacent to the new wing are new spaces for entertaining and the Weill Terrace, a new outdoor roof terrace that serves as an ideal gathering place for those engaged in Carnegie Hall events and activities. Carnegie Hall marked the completion of the Studio Towers Renovation Project and the start of its 2014-2015 season with a spectacular post-concert Opening Night celebration in the tented Weill Terrace and Terrace Room atop the Hall.

Throughout his 24 years as Chairman, Mr. Weill's emphasis on strategic planning as well as strong fiscal management has kept the historic institution looking ahead. A committed fundraiser who has always led by example, campaigns led or co-chaired by Mr. Weill have raised $525 million for Carnegie Hall's endowment and capital projects.

Sanford and Joan Weill continue to be very active and generous philanthropists, supporting organizations around the globe. In addition to his post with Carnegie Hall, Mr. Weill recently retired as Chairman of Weill Cornell Medical College after 20 years and is now Chairman Emeritus. He is Founder and Chairman of the National Academy Foundation (since 1982); Chairman of Weill Hall and The Green Music Center at Sonoma State University; Chairman of the Executive Council at University of California, San Francisco; Chancellor's Advisory Board member at University of California, Davis; and Director of the Lang Lang International Music Foundation. He is a member of the prestigious American Academy of Arts and Sciences, and he and Joan are recipients of the 2009 Carnegie Medal of Philanthropy.

About Ronald O. Perelman

Ronald O. Perelman joined Carnegie Hall's Board of Trustees in 1988 and was elected as a Vice Chairman in 2012. Mr. Perelman is a longtime supporter of Carnegie Hall, having participated in early campaigns supporting the historic renovation of Carnegie Hall as well as the Hall's endowment and expanded music education programs. In 2006, the stage of Isaac Stern Auditorium was dedicated as Ronald O. Perelman Stage in recognition for his generosity and major support of Carnegie Hall's artistic and education initiatives, including special focus on programs for elementary and secondary students in New York City public schools. In 2013, he was named Chair of the board of the National Youth Orchestra of the United States of America, taking on a leadership role in fundraising and governance of this new flagship program of Carnegie Hall's Weill Music Institute.

Mr. Perelman is Chairman and Chief Executive of MacAndrews & Forbes Incorporated, a company with interests in a diversified portfolio of public and private companies. The principal interests of MacAndrews & Forbes include AM General, Deluxe Entertainment Services Group Inc., Harland Clarke, Merisant, Revlon, Inc., Scantron, Scientific Games Corporation, SIGA Technologies, Inc., TransTech Pharma, Inc., and Valassis.

Over the past four decades, Mr. Perelman has become known as an accomplished industrialist and generous philanthropist, recognized as an innovative leader and major supporter of many of the nation's most prominent cultural, educational, and medical institutions. In April 2014, the Ronald O. Perelman Center for Emergency Services at NYU Langone Medical Center opened, more than tripling the size of the former Emergency Department and helping to meet the growing need for emergency care service in New York City. Mr. Perelman's commitment to education and passion of entrepreneurship is reflected by his landmark donation to Columbia Business School in 2013, establishing the Ronald O. Perelman Center for Business Innovation, funding the creation of a new facility and development of programming for the next generation of global business leaders. A longtime supporter of the University of Pennsylvania, Mr. Perelman announced the creation of the Perelman Center for Political Science and Economics in 2013; the Center will foster the teaching and research required to develop positions on national and international matters.

Mr. Perelman's commitment to cutting-edge health research translates into life-changing advancements for patients in New York and around the world, particularly through his establishing the Ronald O. Perelman Heart Institute at New York Presbyterian Hospital (2009), the Ronald O. Perelman and Claudia Cohen Center for Reproductive Medicine at Weill Cornell Medical Center (2008), and the Ronald O. Perelman Department of Dermatology at New York University Langone Medical Center (1991). As chairman of Revlon, he has demonstrated a longstanding commitment to improving women's health, creating the Revlon/UCLA Women's Cancer Research Program in 1990, which led to the development of Herceptin, the groundbreaking treatment for breast cancer. The EIF Revlon Run/Walk has raised more than $100 million to fight women's cancers.

In addition to his post as Chairman at Carnegie Hall, Mr. Perelman is the Vice Chairman of the Apollo Theater Foundation and sits on the boards of many institutions, including The Museum of Modern Art; New York Presbyterian Hospital; Weill Cornell Medical Center; Columbia Business School; NYU Langone Medical Center; The One Foundation; and The Corporation of Brown University. He holds undergraduate and graduate degrees from the Wharton School of Business at the University of Pennsylvania. Mr. Perelman lives in New York City with his wife and is the father of eight children.

About Carnegie Hall - Since 1891, Carnegie Hall has set the international standard for excellence in performance as the aspirational destination for the world's finest musicians. Carnegie Hall presents a wide range of performances each season on its three stages-the renowned Stern Auditorium / Perelman Stage, intimate Weill Recital Hall, and innovative Zankel Hall-including concert series curated by acclaimed artists and composers; citywide festivals featuring collaborations with leading New York City cultural institutions; orchestral performances, chamber music, new music concerts, and recitals; and the best in jazz, world, and popular music. Complementing these performance activities, Carnegie Hall's Weill Music Institute creates extensive music education and community programs that annually serve more than 450,000 people in the New York City area, nationally, and internationally, playing a central role in Carnegie Hall's commitment to making great music accessible to as many people as possible. For more information, visit carnegiehall.org.

Pictured: Ronald O. Perelman (left) and Sanford I. Weill (right) | Photography by Chris Lee.