Rudenstine said the committee will seek out candidates who are "well-rounded individuals with a high degree of intellect and interest in the University."

Hope pointed out that members of the Corporation have usually served the University in some administrative capacity prior to their appointment.

Smith is known for his expertise in financial matters as well as medical issues.

Smith chairs Harcourt General Inc., a Fortune 500 company with interests in publishing and educational materials. He has also served as chair and CEO of The Neiman Marcus Group and GC Companies, Inc., the parent company of General Cinemas.

"He's just extremely astute," Rudenstine said. "Given the tumult in the area of clinical care and hospitals, he's been very helpful...When any subject like that comes up in the Corporation, he can always be counted on."

The one-time Lowell House resident has been active with the University since his election to the Board of Overseers in 1989. He served as an overseer until being named to the Corporation two years later.

Smith, who was unavailable for comment last night, is also a leading contributor to Boston charities, and formerly headed the Dana-Farber Cancer Institute.