Madhav Rajan, an Indian American accounting professor who has reshaped University of Chicago Booth School of Business’ footprint in Asia and Europe, the Middle East, and Africa (EMEA), has been reappointed its Dean for a third term.
As the Steven S. Wymer Dean and George Pratt Shultz Distinguished Service Professor of Accounting, Rajan has overseen a period marked by growth across every area of the school’s mission since joining Chicago Booth in 2017: growing its faculty, launching new academic programs and attracting transformative philanthropic support, according to a university release.
“For nearly a decade, Madhav has led with purpose and a clear sense of what makes Booth distinct,” President Paul Alivisatos said. “A third deanship term reflects the sustained confidence we have in Madhav’s stewardship of Booth.”
“Nine years ago, I arrived at a school with a storied tradition of rigorous, evidence-based thinking and a mission to apply it to the defining questions of our time,” Rajan said. “Partnering with our faculty, staff, students and alumni to turn that combination into work that has lasting impact has been the great honor of my career. I am excited to build on that energy to further broaden and deepen the school’s impact across the globe.”
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As Dean of Booth, Rajan has launched new master’s programs and reshaped the school’s footprint in Asia and EMEA. He has bolstered alumni engagement, resulting in significant support for faculty research and scholarships, according to his profile.
Rajan has deepened the school’s ties to the University of Chicago via joint degrees and by initiating the Business Economics track, now the largest major in the College.
In June 2025, Rajan took on an expanded role as Chief Global Strategist for the University of Chicago. In this role, Rajan is responsible for shaping and implementing a strategy that reflects UChicago’s vital commitments to rigorous education and research globally. As CGS, Rajan oversees UChicago Global and the university’s international campuses.
Before joining Booth, Rajan spent 16 years on the faculty of the Stanford University Graduate School of Business where he was the Robert Jaedicke Professor of Accounting, with a courtesy appointment in the Law School.
He served as senior associate dean for academic affairs from 2010-2016, overseeing the school’s MBA program. Previously, he served on the faculty at the Wharton School of the University of Pennsylvania, from 1990-2001.
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While at Stanford, Rajan received the Robert T. Davis Award for Lifetime Achievement and Service (2017), and the Notable Contribution to Management Accounting Literature Award (2004).
He also was the recipient of the David W. Hauck Award for Outstanding Teaching at Wharton (2000) and the Alexander Henderson Award for Excellence in Economic Theory (1990).
Rajan’s primary area of research interest is the economics-based analysis of management accounting issues. He has served as editor of The Accounting Review, the flagship journal of the American Accounting Association. Rajan is coauthor of Cost Accounting: A Managerial Emphasis, whose 18th edition was published by Pearson Prentice Hall in 2025.
Rajan received his Bachelor’s degree in Commerce from the University of Madras, India, and an MS in Accounting, an MS in Industrial Administration, and a PhD in Accounting from Carnegie Mellon University.