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Yale Appoints Chang, Costeletos as Successor Trustees
The two new appointees bring extensive leadership experience in global media, sports, entertainment, and private investments.
Apr. 1, 2026 at 2:04am
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Yale University has announced the appointments of Derek Chang '89, the president and chief executive officer of Liberty Media, and Philippe Costeletos '87, the founder of the private investment firm Stemar Capital Partners, as successor trustees to the Yale Corporation, the university's governing body.
Why it matters
The Yale Corporation is responsible for overseeing the university's policies, practices, and resources to further its mission. The appointments of Chang and Costeletos, both accomplished leaders in their respective fields, signal Yale's commitment to maintaining strong governance and strategic direction as it navigates the coming years.
The details
Chang currently serves as the president and CEO of Liberty Media, which owns global sports assets like Formula 1 and MotoGP. He has a successful track record in both startups and established corporations, previously holding leadership roles at NBA China, DIRECTV, Charter Communications, and more. Costeletos is the founder of Stemar Capital Partners and has over 30 years of experience in private investments and global investment management, including leadership positions at TPG, Investcorp, and Colony Capital.
- Yale President Maurie McInnis announced the appointments on April 1, 2026.
- Chang and Costeletos will begin their terms as successor trustees immediately.
The players
Maurie McInnis
The president of Yale University.
Derek Chang
The president and chief executive officer of Liberty Media, a global media, sports, and entertainment company.
Philippe Costeletos
The founder of the private investment firm Stemar Capital Partners and an experienced private markets investor.
Marta L. Tellado
The senior trustee for the Yale Corporation, the university's governing body.
Jacob Rothschild
The founder of RIT Capital Partners plc, the London-listed investment trust that Costeletos currently chairs.
What they’re saying
“I'm grateful and pleased that Derek and Philippe have agreed to join the board and share their experience and expertise with Yale.”
— Maurie McInnis, President, Yale University
“I and the rest of the board look forward to welcoming Derek and Philippe and working together as we steward the university through the coming years.”
— Marta L. Tellado, Senior Trustee, Yale Corporation
What’s next
The new trustees, Chang and Costeletos, will begin their terms on the Yale Corporation immediately, working alongside the existing board members to guide the university's strategic direction and policies.
The takeaway
The appointments of Chang and Costeletos, two accomplished leaders in global media, sports, entertainment, and private investments, underscore Yale's commitment to maintaining strong governance and strategic vision as it navigates the challenges and opportunities ahead.
