Five people were added to the University’s Board of Trustees this month to replace six outgoing members.

Trustees are elected to serve a five-year term and can be reelected for a second term, though they must wait one year before running again for a third. The board meets five times a year to deal with funds, the University budget and University policies.

The new crop of trustees is as prestigious as it is diverse. Two CEOs will join the board: Frank Lee Ph.D. ’77, CEO of biotech corporation Dragonfly Sciences, and Paul Ormond ’71, M.B.A. ’73, president and CEO of medical rehabilitation provider HRC ManorCare. The group also includes entrepreneur Kavitark Shriram, founder of the venture capital firm Sherpalo Ventures LLC, Armando Garza-Sada M.B.A. ‘81, chairman of the Mexican company Alfa, and Deborah Zoullas M.B.A. ’78, a private investor.

The board will, for the most part, retain its prior composition despite these changes; trustees involved in business, health care and investment were present in both the incoming and outgoing groups. Notable, however, is the departure of two lawyers; although none of the new trustees practice law, UC-Berkeley law professor and associate dean Goodwin Liu ’91 will remain on the board.

Prominent returning members include University President John Hennessy and Yahoo! founder Jerry Yang ’90, M.S. ‘90. With more outgoing trustees than incoming members this year, the board will shrink from 31 members to 30.

Leslie Hume, chairwoman of the Board of Trustees, could not be reached for comment.

—  Joseph Beyda