Case Study : Clifton Wharton 's President Of The State University Of New York System Essay

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Summary
Clifton Wharton was not a stranger to adverse condition when he became chief executive officer of Teachers Insurance and Annuities Association-College Retirement Equities Fund. He displayed an authoritative personality to change the organization course of action. His leadership moment consists of many key actions which help restructures TIAA-CREF toward its current progress. Clifton Wharton in 1969 was appointed president of Michigan State University becoming the first African American to head a major Research I institution. He is a graduate of Harvard University B.A. with cum laude honors in 1947. He received a M/A. in 1948 from John Hopkins University and the University of Chicago M.A. 1956 and Ph.D. in 1958. He later went on to become the Chancellor of the State University of New York system. Wharton was the first African American to head a Fortune 500 company and lead a vibrant career in higher education, business, and foreign policy prior to his retirement in 1993.
Wharton leadership moment previous success contributed to his success. TIAA-CREF is a nationwide retirement system for college and university professors. The company had a total of 3,950 account holders with 890,000 assets worth $52 billion. The company was considered a slumbering giant in operational backwater. The employees were laboring in dingy quarters and account holder disapproved of the inflexible rules. At the time, it gave individuals no control over their retirement funds. This left

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