Senior Vice President for Finance and Administration

Craig R. Carnaroli, MBA ’90, senior executive vice president at the University of Pennsylvania, has been named Stanford University’s new senior vice president for finance and administration. His tenure will begin in September before the new academic year.

As senior vice president, Carnaroli will serve as Stanford’s chief financial officer, direct business operations, and provide guidance on a wide array of key university priorities as a member of the president’s senior leadership team.

At Stanford, Carnaroli will report to the president and provost as a member of the president’s cabinet, and he will staff relevant committees of the Board of Trustees. As chief financial officer, Carnaroli will work closely with Provost Jenny Martinez, who serves as Stanford’s chief academic officer and chief budget officer, and be a key contributor to broader budget discussions and decisions. Carnaroli will advise on a wide range of critical issues, including the impact of federal policies, support for AI-related projects, the future of athletics, and the renovation and construction of new buildings.

Carnaroli will also be an important voice on how to improve administrative efficiency, a key priority for the president and provost this year, as part of the university’s simplification initiative. He is expected to help build collaborative relationships with a broad range of stakeholders and support the modernization of business systems and use of emerging technologies like AI.

For more than 20 years, Carnaroli shaped the financial strength and operational efficiency of the University of Pennsylvania. As senior executive vice president he led a variety of initiatives, including expanding financial aid, improving Penn’s long-term credit rating, implementing a carbon reduction strategy, launching new housing and financing initiatives, and redesigning systems and processes to boost productivity and accountability.

Before being named Penn’s senior executive vice president in 2021, Carnaroli served as executive vice president from 2004 to 2021 and as vice president of finance and treasurer from 2000 to 2004. Previously, he was a director, municipal securities division, for Merrill Lynch.

Carnaroli earned his Bachelor of Science in economics, cum laude, from Penn’s Wharton School of Business in 1985 and his Master of Business Administration from Stanford Graduate School of Business in 1990.

Dan Rodas led this search with Amble Ryan, Kahn Lee, and Nicole Sancilio.