Retirement of Ed Bishof, Sr. Vice President for Finance and CFO

I write today to announce that Ed Bishof, NJIT’s Sr. Vice President for Finance and CFO, will be retiring as of June 2020 after more than 33 years of service to our university. I am happy for Ed and his wife, Debbie, but know that we will miss Ed’s talent, knowledge, and dedication. Ed has brought innovation, transparency, and sustained success to the complex financial operations of our university.

During Ed’s tenure at NJIT, his accomplishments have been many. He and his team created the financial model for our 2020 Vision strategic plan, resulting in $136.2 million being allocated in support of NJIT's priorities. In recent years, Ed drove dramatic improvement in treasury and cash management that resulted in interest income of $3.6 million annually. He worked closely with the Joint Investment Committee and our endowment portfolio management group to increase the market value of NJIT’s endowment from $95.8 million at the end of Fiscal Year 2015 to $153.4 million as of February 28, 2021. Ed and his team also have helped NJIT manage the financial challenges of the current pandemic far better than most colleges and universities.

There are many other accomplishments that could be noted here, but most importantly, Ed built a department that plans proactively, communicates clearly, delivers results, and puts a premium on transparency. Without Ed’s steady hand on the university’s financial controls, NJIT would not have achieved the success it has to date or be positioned on a path of growth and continuous improvement.  

Ed has agreed to remain engaged with NJIT during the search process for his successor and support the on-boarding of a new CFO, and we will begin that search expeditiously.

Please join me in congratulating Ed and Debbie on his upcoming retirement, and thanking him for his outstanding service and incomparable dedication to NJIT. 

Sincerely,

NJIT President Joel S. Bloom