Former Aramark chief elected to head U. of Chicago board

Joseph Neubauer, the former chairman of Philadelphia-based hospitality company Aramark, was elected Thursday as chairman of the board of trustees at the University of Chicago.

Neubauer, 73, has served on the university's board since 1992. His three-year term as chairman will begin after the board's annual meeting in May. He earned his MBA at the university in 1965.

Neubauer became president of Aramark in 1981, chief executive officer in 1983, and chairman in 1984. He served as both CEO and chairman until 2012. He announced in December that he stepping down as chairman to devote his life to philanthropy in Philadelphia and Chicago. - Robert Moran