Babson College taps UMass official for top post

Babson College named Katherine Craven, a high-ranking official at the University of Massachusetts, on Friday to be its new chief administrative officer.

In her new position, Craven will supervise the Wellesley business college’s critical operations, including campus and community affairs, human resources, facilities, finance, information technology, risk management, summer programs, and sustainability, campus officials announced.

She is scheduled to start Feb. 25.


“Katherine Craven’s 20-year track record in government and higher education, and her highly regarded approach to team building and community engagement, makes her an exceptional fit to lead our administrative and business operations during this critical time,” Babson president Kerry Healey said in a statement.

Get Fast Forward in your inbox:
Forget yesterday's news. Get what you need today in this early-morning email.
Thank you for signing up! Sign up for more newsletters here

Craven will leave her role as executive director of the UMass Building Authority and assistant vice president for capital finance for the university.

“Katherine has provided outstanding leadership of the UMass Building Authority, helping to create and oversee a $3.8 billion, five-year capital plan that will allow us to continue the dramatic physical transformation of our five campuses,” Robert L. Caret, UMass president, said in a statement.

Craven grew up in West Roxbury, studied at Boston Latin School, and graduated with a degree in history from Harvard University in 1994.

Thomas M. Finneran, then chairman of the House Ways and Means Committee, later hired her as a budget analyst. She rose to key positions under Finneran’s successors at the committee and eventually became director of policy.


Craven was named executive director of the Massachusetts School Building Authority in 2004, when the post was created.

She was named the state’s first deputy treasurer in late 2010 before she was named to key positions with UMass about a year later.

Philip W. Johnston, a member of the UMass board of trustees and chairman of the UMass Building Authority, praised Craven’s work at the university.

“Katherine has been a tremendous leader of the UMass Building Authority who brought impeccable credentials to the position and whose knowledge of construction financing has served the university incredibly well,” he said. “She leaves an indelible mark on UMass.”

Matt Rocheleau can be reached at matthew.rocheleau Follow him on Twitter @mrochele.