Yale President Maurie McInnis 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.
Members of the board of trustees, the university's principal governing body, act as fiduciaries for the university - ensuring that Yale is guided by sound policies and practices and equipped with adequate resources to further its mission. In doing so, the board balances the needs of today's faculty, students, alumni, and staff with those of generations to come.
"I'm grateful and pleased that Derek and Philippe have agreed to join the board and share their experience and expertise with Yale," said McInnis. "Each one brings both leadership experience in complex organizations and a clear commitment to Yale's mission and people."
Marta L. Tellado, the senior trustee for the Yale Corporation, added, "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."
Derek Chang
Chang is a leader in global media, sports, and entertainment, currently serving as president and chief executive officer of Liberty Media, a role he assumed in January 2025. Liberty Media's portfolio includes the premier international sports assets Formula 1 and MotoGP. He sits on the company's board, as well as on the boards of Liberty Live Holdings and Liberty Broadband Corporation.
Over the course of his career, Chang has built a successful track record in both startups and established corporate entities. He previously served as the CEO of NBA China, where he oversaw the league's largest international market, and in senior positions with DIRECTV, Charter Communications, the YES Network, and Scripps International, based in Singapore and London. Prior to Liberty Media, Chang co-founded and served as executive chairman of EverPass Media, a platform that distributes premium sports content into commercial establishments.
While a student at Yale, Chang was coxswain on the varsity heavyweight crew team; he graduated cum laude with a degree in history and went on to earn an M.B.A. from Stanford University. A longtime Yale volunteer, he served on his 20th, 25th, and 30th Reunion Committees.
Philippe Costeletos
With over three decades of experience in private investments and global investment management, Costeletos is widely regarded as one of Europe's most experienced private markets investors. He is founder of Stemar Capital Partners, a private investment firm, and chairman of RIT Capital Partners plc, the London-listed investment trust founded by Jacob Rothschild.
His broad and diverse experience includes leadership roles as head of Europe at TPG and a member of its global management and investment committees, member of the management committee at Investcorp, chairman of International at Colony Capital, and senior advisor to Blackstone. Currently he serves on several corporate boards, and is chairman of Tambre Reproductive Medicine, a European fertility and women's health group, and Zeno Partners, a private markets investment group.
Costeletos' exemplary dedication to Yale includes membership on the University Council, on which he has served since 2024. He has supported the For Humanity campaign, as chair of the Europe Regional Advisory Group, and served on the advisory board of the Yale Center for Emotional Intelligence; he has also been a member of the President's Council on International Activities, among other roles.
Costeletos graduated magna cum laude from Yale College, earning a B.A. with distinction in Mathematics, and received an M.B.A. from Columbia University.
