Wellesley, Massachusetts--(Newsfile Corp. - June 1, 2026) - Babson College President Stephen Spinelli Jr. MBA'92, PhD today announced his plans to retire at the end of the 2026-2027 academic year, capping a presidency defined by strategic growth in entrepreneurial leadership, innovation in entrepreneurship education, and an expanded global impact for the College, and fueled by historic philanthropic investments.
Spinelli, Babson's 14th president, has led the institution since 2019. He will continue in his role through June 30, 2027, as the Babson College Board of Trustees launches a global search for his successor.
"Serving as president of Babson College has been one of the great honors of my life," Spinelli said. "This community is driven by a shared belief in the power of entrepreneurial leadership to create social and economic value impacting communities everywhere. Together, we have built on Babson's strengths, expanded our reach, and positioned the College for continued impact in a rapidly evolving world. I am deeply grateful to our students, faculty, staff, alumni, and partners for all we have accomplished."
A Presidency Defined by Growth and Momentum
Spinelli has led Babson through a period of strategic transformation, reinforcing its position as the global leader in entrepreneurship education while broadening the College's reach, relevance, and impact. Under his leadership, Babson was named the No. 2 Best College in the United States by The Wall Street Journal for two consecutive years-recognition driven by the College's strength in career outcomes, return on investment, and real-world learning. His leadership has focused on extending Babson's core strengths into new areas, including expanding lifelong learning opportunities, advancing innovation in teaching and technology, and strengthening the College's position as a leading business school and hub for entrepreneurial leadership on a global scale.
Key accomplishments under his leadership include:
Leading with resilience through unprecedented disruption
Guided the Babson community through the COVID-19 pandemic, maintaining academic continuity, and emerging with strengthened student outcomes, sustained enrollment demand, and renewed institutional momentum.
Expanding Babson's model beyond the traditional degree
Extended the College's reach through new online, executive, and doctoral programs, enabling learners at all stages to access Babson's entrepreneurial leadership approach beyond a residential degree experience.
Advancing a bold vision for entrepreneurial leadership
Established the Arthur M. Blank School for Entrepreneurial Leadership and launched a portfolio of new institutes spanning health innovation, technology, franchising, and real estate, positioning Babson at the forefront of how entrepreneurship is taught and applied.
Strengthening financial performance and long-term growth
Achieved the highest bond ratings in the College's history and advanced the Babson ELevates campaign-its most significant fundraising achievement in the College's history-with a $750 million goal supporting continued investment in students, faculty, and programs.
Expanding Babson's global reach and community impact
Strengthened Babson's role as a global hub for entrepreneurial leadership, deepening partnerships, growing its international community of learners and alumni, and extending its impact across industries and markets worldwide.
Investing in transformative campus experiences
Advanced major capital projects, including the Herring Family Entrepreneurial Leadership Village and the Executive Lodge and Conference Center, creating new environments for immersive, experiential, and lifelong learning. These projects represent the largest investment in entrepreneurship education within higher education.
Growing enrollment demand and advancing faculty excellence
Achieved record applications, selectivity, and enrollment, while expanding access through over 60 new scholarships. Strengthened Babson's academic distinction through continued investment in faculty, including the addition of 25 endowed professorships and term chairs.
These efforts have built on Babson's long-standing distinction as the No. 1-ranked institution for entrepreneurship education and strengthened its position as a leader in preparing students and professionals to navigate complexity, create value, and lead through change.
"A Strong Foundation for the Future"
Spinelli will continue in his role through the end of the 2026-2027 academic year, ensuring continuity as the Babson College Board of Trustees launches a global search for his successor. Jeffery S. Perry '87, P'23, chair of the Babson College Board of Trustees, expressed gratitude for Spinelli's leadership and confidence in the College's trajectory.
"Steve has led Babson with vision, energy, and a deep commitment to our mission," Perry said. "During his tenure, Babson has expanded its global reach, strengthened its academic and experiential learning model, and deepened its impact across industries and communities. Steve has demonstrated leadership amid challenging higher education headwinds, pressing our competitive advantage and staying true to the values of the Babson community. Through it all, he has constructively partnered with the Board of Trustees, strengthening the Shared Governance model that extended to faculty engagement as well. Steve leaves the College in a position of strength, with clear momentum and upward trajectory for the future."
A Lifelong Connection to Babson and Entrepreneurship
A Babson alumnus, entrepreneur, and former faculty member and administrator, Spinelli's connection to the College spans decades. He was named president in 2018 after a career at the intersection of business, academia, and innovation.
Throughout his presidency, he has emphasized Babson's Entrepreneurial Thought & Action methodology as a guiding framework for decision-making, leadership, and real-world impact, ensuring the College remains responsive to the evolving needs of students, organizations, and society. A lifelong entrepreneur, he co-founded Jiffy Lube International, helping pioneer the quick-lube industry in the United States and scaling the company to more than 1,000 service centers. He later brought that same entrepreneurial perspective to higher education, serving as president of Philadelphia University and leading its merger with Thomas Jefferson University to create a new, transdisciplinary model for learning. He was named chancellor of the combined institution in 2017.
Spinelli continues to bridge industry and academia, currently serving as Chairman of the Board of Planet Fitness.
Looking Ahead
Spinelli will continue to lead Babson through his remaining term, working closely with the Board of Trustees to support a smooth and thoughtful leadership transition.
The board will launch a global search for Babson's next president, to be conducted in partnership with Russell Reynolds Associates, an external executive search firm. A presidential search committee will be established with representation from across the Babson community. Additional details regarding the search process and timeline will be shared as they become available.
About Babson College
Babson College is a global leader in entrepreneurship education. Through its proven Entrepreneurial Thought & Action methodology, the College prepares entrepreneurial leaders who create, grow, and steward sustainable economic and social value around the world. Founded in 1919 in Wellesley, Massachusetts, Babson has empowered more than 47,000 entrepreneurial leaders to impact communities and industries of all kinds. Babson is recognized as the No. 2 best college in the United States by The Wall Street Journal and has maintained its place as No. 1 atop U.S. News & World Report's undergraduate entrepreneurship rankings for decades. The College offers an array of undergraduate, graduate, and executive education programs and partners with organizations around the world to support global entrepreneurship initiatives. Through the Arthur M. Blank School for Entrepreneurial Leadership and Babson's centers and institutes, the College empowers accomplished and aspiring entrepreneurs to advance the study and practice of entrepreneurial thought leadership around the world.
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Victoria Dalton
vdalton@babson.edu
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Source: Babson College
