Israel Ruiz to step down as MIT’s executive vice president and treasurer

Israel Ruiz will step-down next year as MIT’s executive vice-president and treasurer, a posture he’s held since 2011. President L. Rafael Reif revealed the headlines these days inside a letter to MIT faculty and staff.

“Widely recognized across MIT, Israel is really a brilliant strategic thinker whose dedication to excellence has actually advanced level innovative methods to complex challenges while making wide support on the way,” Reif wrote. “His attempts have actually changed numerous components of our university to better offer and support the MIT community. Since my earliest times as provost, he’s got already been among my important advisors.”

Ruiz, having played an integral part within the last ten years in various MIT projects to advance innovation and entrepreneurship — efforts including MIT’s Kendall Square Initiative towards launches of MITx, edX, and also the system — plans to dedicate another section of their career to efforts outside of academia in which he can much more straight drive innovation and effect.

“Im immensely proud of could work to help introduce these transformative projects,” Ruiz says. “At the same time frame, considering the successes of this final decade and my career at MIT, I’ve been considering an alteration during the last year or two. I’m it is time for me to target directly on options that accelerate development in the manner this neighborhood features motivated us to do.”

Ruiz expects to transition regarding their role at MIT throughout the springtime semester. Inside the letter to your neighborhood, President Reif suggested that he will work in coming months with members of Ruiz’s senior team — including Vice President for Finance Glen Shor and Vice President for Campus Services and Stewardship Joe Higgins — to determine how far better allocate Ruiz’s duties.

Ruiz reached MIT being a master’s student within the MIT Sloan School of Management. After finishing their level in 2001, he turned into a expert to MIT, providing previous president Charles Vest and previous provost Robert Brown. In 2002, Ruiz formally joined up with MIT as supervisor of monetary planning and evaluation, becoming associate director of Office of Budget and Financial preparing in 2003. He was called manager of finance in 2005, leading an Institute-wide rebalancing that several years later yielded 1st balanced basic unrestricted budget in 15 years.

Ruiz was known as vice-president for finance in 2007; in the page to your neighborhood, President Reif noted that MIT have not had an running loss subsequently. Ruiz became MIT’s executive vice-president and treasurer last year.

Along with strengthening MIT’s budget, Ruiz features played an instrumental component in many of MIT’s significant initiatives of the past decade. For instance, directed by President Reif’s eyesight of the new-model for driving development through the lab to commercial reality, Ruiz led the introduction of The Engine, an accelerator for “tough tech” business owners from MIT and across the Boston location.

Launched in 2016, The Engine has actually since offered selected startups with specific lab infrastructure and considerable money — as well as an experienced help network. Ruiz introduced significant responsibilities when it comes to Engine’s first $205 million endeavor investment and recruited Katie Rae as The Engine’s founding president and CEO. Up to now, The Engine has supported 20 businesses. 

Ruiz’s attempts to foster development in Cambridge have included his considerable use Provost Martin Schmidt additionally the MIT Investment control business (MITIMCo) to reshape Kendall Square, enhancing the dynamism of what has become home to one of this world’s greatest levels of innovative businesses. He had been main to MIT’s 2017 arrangement using the authorities to redevelop the John A. Volpe nationwide transport Systems Center, beginning an activity to show a 14-acre parcel in Kendall Square in to a much more radiant mixed-use web site which will benefit MIT’s mission therefore the Cambridge neighborhood.

“Israel’s peaceful leadership and reliable relationship have produced a remarkable improvement in and around Kendall Square,” claims MITIMCo President Seth Alexander. “His sight has actually transformed MIT’s area into probably one of the most dynamic innovation districts around the globe.”

In 2018, Ruiz played the key part in developing financial designs and financing strategies to underpin the MIT Stephen A. Schwarzman College of Computing, MIT’s most significant structural modification considering that the 1950s. He also played a crucial role in negotiating the college’s $350 million foundational present.

“i’m extremely lucky to have caused Israel on a number of jobs including The Engine as well as the MIT Schwarzman university of Computing,” states Dean of Engineering Anantha Chandrakasan. “he’s highly collaborative, has always engaged energetically with our community in releasing brand new initiatives, and it has consistently provided myself excellent guidance. We are grateful for his extraordinary work and management in making a sturdy method during 2008 economic crisis, and in keeping MIT on sound economic ground from the time.”

Working alongside outbound Deputy Executive Vice President Tony Sharon, Ruiz fortified MIT’s administrative and running units, including Finance, MIT healthcare, Human Resources, Environmental safe practices, Sustainability, Campus thinking, services, MIT Police, Ideas techniques and tech, and Audit. Recognizing the requirement to fund restoration of the Institute’s aging infrastructure, Ruiz charted the MIT2030 campus framework, which balances new building, revival of older buildings, therefore the growth of a staff to keep these structures for generations to come of faculty and pupils. Then he protected MIT Corporation approval of the $5.2 billion money want to deliver this sight alive.

“exactly what Israel features led and executed has-been amazing to view,” Chancellor Cynthia Barnhart claims. “Through his management, eyesight, and partnership, we have been seeing a change of your pupil residences, and of our pupil life and scholastic services. His deep commitment to our pupils is mirrored inside the sustained support for important elements of the MIT pupil experience and training, including school funding, student well being, NoticeGiveHeart, and MITx.”

Ruiz has additionally centered on improving services for broader MIT neighborhood. Other accomplishments, working with Executive Director Robin Elices, have actually included the digital platform MIT Atlas in addition to MIT Atlas provider Center, along with a brand new MIT Welcome Center expected to start in Kendall Square next summer time. With Ruiz’s guidance, MIT in addition has develop into a frontrunner in offering options and incentives to greatly help staff members improve their commutes while reducing vehicles on the way. According to a recent Boston world show, “No various other significant Boston-area businesses … offer commuter bonuses utilizing the scale and sophistication of MIT’s.”

“i’ve been inspired by MIT for more than 2 decades, because the 1st day we appeared on university being an admitted student and came across Professor Paul Samuelson,” Ruiz states. “i will be nevertheless mesmerized in what MIT and its own brilliant individuals accomplish the globe.”