Babson College Picks Jiffy Lube Co-Founder As Next President

Babson College says it has chosen the former chief of Philadelphia University and co-founder of Jiffy Lube as its next president.

College officials announced Friday that Stephen Spinelli Jr. will start the top job in July 2019. He replaces Kerry Healey, who is stepping down after this academic year.

Marla Capozzi, the head of Babson's governing board, called Spinelli a "lifelong entrepreneur who has a proven record of success in business and academia."

Spinelli co-founded the Jiffy Lube car service company and previously spent more than a decade as a Babson professor and administrator.

He also received a master's degree from Babson, a business school that enrolls about 3,300 students.

Spinelli spent 10 years as president of Philadelphia University and oversaw its merger with Thomas Jefferson University.