Surma became chairman of the Penn State Board of Trustees three days later when Chairman Steve Garban resigned his position. In January 2012 he relinquished the position to The Bank of New York Mellon executive Karen Peetz, but he has continued to serve on the board.
Following Steve Garban's resignation as chairman, Surma assumed the leadership of the Penn State Board of Trustees just three days later. In January 2012, Surma stepped down from his position and was succeeded by Karen Peetz, an executive from The Bank of New York Mellon.