Search planned for UW-Madison’s next business school dean

An international search will be conducted for a successor to Michael M. Knetter as dean of the Wisconsin School of Business, Chancellor Biddy Martin announced today (July 28).

Effective Oct. 16, Knetter will become the new president and chief executive officer of the UW Foundation.

Joan Schmit, vice dean at the School of Business, will serve as interim dean, Martin says. Schmit holds the American Family Insurance Chair in Risk Management and Insurance, and has been a UW–Madison employee for more than 20 years. She earned her BBA and MBA from UW–Madison and her Ph.D. from Indiana University.

In a message to faculty and staff at the school, Knetter praised Schmit’s abilities.

“I am confident that the school is poised for further progress in important areas and that Joan Schmit will provide the principled and dedicated leadership needed to keep the school moving forward over the next year,” Knetter wrote. “Joan has played such a prominent leadership role in all aspects of the school that it would be inaccurate to view this year as a transition; it will be a year of continued progress.”

Schmit says the school is poised to continue strong momentum as a result of the outstanding effort and progress made under Knetter’s leadership.

“We are well-positioned financially relative to other business schools, the global reputation of our degree programs has improved significantly and we are steadfastly attracting some of the world’s leading academics to our business school,” says Schmit. “We will continue to build upon the strategic objectives set forth under Mike’s tenure, including expanding our business education offerings for UW–Madison students across campus and working professionals, supporting our rich research mission, and improving the overall experience of every student.”

Schmit adds, “I’m proud to have been a member of Mike’s team during this time, and will look forward to finding new and ever-evolving ways for our work at the Wisconsin School of Business to positively influence business and public policy.”

In her new role, Schmit will earn an annual salary of $310,000.

Knetter joined the Wisconsin School of Business as its dean in July 2002. As dean, he orchestrated the novel Wisconsin Naming Gift, the expansion of Grainger Hall, the restructuring and improved national standing of the full-time MBA, and the restructuring and expansion of the Enterprise MBA programs for working professionals.

In March, Knetter was named UW–Madison’s vice chancellor for advancement, in addition to leading the business school. In this role, he worked with the campus leadership team to develop and communicate strategies to increase nonstate sources of revenue to support the university.