President and CEO Toby Bozzuto has assumed the role of Chair of Colgate University’s Board of Trustees. A 1996 graduate, Toby joined the board in 2016, serving on multiple committees, including as the Chair of the University Resources Committee. Read more about Toby’s vision for Colgate in his interview with Colgate Magazine:
Meet Toby Bozzuto Jr., Colgate’s New Board of Trustees Chair
Thomas “Toby” S. Bozzuto Jr. ’96, president and CEO of the Bozzuto Group, became chair of the University Board of Trustees on July 1, taking over for Michael J. Herling ’79, H’24, P’08,’09,’12. A devotee of the liberal arts, Bozzuto has spent several decades applying his creative side to the business of real estate development while honing a leadership philosophy he calls a “culture of kindness.” Learn more about Bozzuto:
I joined Colgate as a sophom*ore — I started my college journey at Hobart and William Smith, but fell in love with the Colgate’s beauty and its commitment to academic rigor and emotional intelligence. Colgate struck me as a place with a remarkable balance, where curiosity was encouraged and celebrated. This remains true today. At Colgate you not only discover your community but also your path. As you explore your interests, you’re enveloped by a supportive network that strengthens your identity. I realized then, and still do, that Colgate is a place where you can truly bloom. I will forever be grateful for the opportunity to attend Colgate and will do everything I can to repay this generosity.
I was interested in music and literature at Colgate. I had a professor named Dexter Morrill, a pioneer of “computer music” in the United States, who explored this innovative art form in its early stages. Recognizing our shared passion for composition, he gave me 24/7 access to a recording studio, a generous gesture. Colgate has always been a place where professors join you on a journey, pushing you beyond your limits.
I explored work in the music industry through summer internships at Sony Music, eventually being hired as a part-time employee during my senior year. Concurrently, I was lead singer and rhythm guitarist for a band at Colgate, performing on campus and at nearby colleges. My English major deepened my passion for literature, and dear friends introduced me to Buddhism and spirituality, influences I cherish to this day.
After college I pursued the blending of creativity and business. I was inspired by my father, who had started a real estate firm in Washington, D.C., in the late 1980s. I first gained experience elsewhere and earned a master’s in real estate from NYU before starting in a junior role at the firm. I’ve been with the company for 22 years and have been CEO since 2015. Today our development, construction, and management business employs nearly 3,500 people nationwide and manages more than 105,000 apartment units. Our company was founded on strong values centered around creating a “sanctuary” for our residents, a principle that deeply resonates with me. (The concept of working for a for-profit enterprise dedicated to societal improvement has always held profound meaning for me.) We use our success to impact communities through employee-led giving and service.
The ethos of a company, its culture, is paramount. We prioritize a culture of kindness, emphasizing integrity and respect. Embracing diverse perspectives strengthens us. Business can be a vehicle that fosters equity and opportunity, and I’m proud of our initiatives promoting racial and gender equality.
Our culture has led the Washington Post to rank us as a “Top Workplace” for eight consecutive years. We are renowned for being a great place for women to work, underscoring our dedication to ethical practices and respectful treatment. By prioritizing these values, we generate a positive ripple effect. Business success, in my belief, should be measured not only by profitability but also by the positive impact we make on our community, residents, and each other.
In fact, I view profit as a vehicle to achieve that higher purpose. Elevating humanity through business is achievable, and I credit Colgate completely with opening the aperture of my mind to contemplate a more humanistic approach to commerce.
[As board chair], my ears are open, my eyes are open, my heart is open. I am incredibly fortunate to work alongside an exceptional group of trustees. I feel privileged to continue the legacy of our outstanding former chair, Mike Herling, and recognize the dedicated efforts of past leaders, faculty, staff, and alumni.
I am particularly enthusiastic about collaborating with President Brian Casey, whose transformative leadership at Colgate has been inspiring. Working with him is a great honor. We are both inspired by a quote from architect Daniel Burnham: “Make no little plans. They have no magic to stir men’s blood and probably will not themselves be realized. Make big plans, aim high in hope and work, remembering that a noble, logical diagram once recorded will never die, but long after we are gone will be a living thing, asserting itself with ever-growing insistency.”
Under Brian’s leadership, we will think bigger and will be a paradigm for the benefits of a liberal arts education. As Brian says, we will continue to push for the “significant transformation of Colgate, marked by substantial increase in national reach and reputation. The Third-Century Plan represents the largest and most important transformation in the history of Colgate.
It will both complete our physical campus and fully realize our potential to become one of the great institutions in the nation — and, perhaps, one of the most important undergraduate colleges in the country.”
This is Colgate’s time. We commit to executing the Third-Century Plan with a focus on diversity, equity, and inclusion. We will honor traditions while embracing change, addressing key themes such as AI in education, freedom of speech, demographics, economic factors, and Supreme Court decisions on affirmative action. Our goal is to continue to attract top-tier faculty, students, and staff while also increasing funds for the Colgate Commitment to ensure accessibility for all. Our ambition is to be the first U.S. liberal arts college to raise $1 billion in a capital campaign.
We are enhancing the student experience through the Lower Campus plan, social initiatives for all, athletics, and campus facility enhancements, including improved upperclassmen residential life and collaboration with the village. We are also expanding residential options for faculty and staff.
I’m excited about campus beautification efforts, as well as Bernstein Hall’s upcoming launch as a hub for creativity and innovation.
We will uphold freedom of speech while promoting civility and respect, encouraging learning from diverse perspectives.
Additionally, I’m excited to provide concrete post-graduation outcomes for our students by leveraging our strong alumni network for mentorship and job placements.
Together, we will embrace curiosity in an interconnected world, where, despite our connectivity, divisiveness often prevails. We must explore how a liberal arts education can unite us amidst these challenges. What a wonderful time to be a part of Colgate.
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