Washington College Names Sheila Bair 28th President

CHESTERTOWN, Md. (AP) -- Washington College on Maryland's Eastern Shore has a new president.

The school announced Wednesday that Sheila C. Bair, the former chairwoman of the Federal Deposit Insurance Corporation, would be the school's 28th president. Bair will be the first female president of the college, which was founded in 1782.

Bair earned a bachelor's degree in philosophy at the University of Kansas in 1974 and a law degree from the University of Kansas School of Law in 1978. She headed the FDIC from 2006 to 2011. Bair succeeds former president Mitchell B. Reiss, who stepped down to lead the Colonial Williamsburg Foundation.

Bair will officially take over on Aug. 1.

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