The University seeks to establish a new College of Business to be launched at the start of the next academic year, Provost Michael Kotlikoff announced Monday.

The new college, which will require approval through a charter change by the Board of Trustees in January, will consist of programs from Cornell’s School of Hotel Administration, the Charles H. Dyson School of Applied Economics and Management and the Johnson Graduate School of Management. Each school will continue to maintain its own identity, according to Kotlikoff.

Kotlikoff asserts that three main benefits will come out of the new college, including enhanced opportunities for all members of the college, a better environment for research for faculty and an overall more effective structure among Cornell’s business programs. The new college will also allow Cornell to expand its initiatives and programs at home and abroad.

The new college will include 145 research faculty members and 2,900 undergraduate, professional and graduate students, making it a “top 10 business school in terms of scale and impact,” Kotlikoff wrote.

“Cornell intends to establish a single, unified College of Business, with the goal of cementing the University’s position as a world-class center of teaching, research and engagement for business management and entrepreneurship,” said Joel Malina, vice president for university relations, in a statement.

Soumitra Dutta, dean of the Johnson School, will become dean of the College of Business, while Chris Barrett, director of the Dyson School, will become deputy dean and dean of academic affairs for the college.

While the University seeks to unify its business programs, it does not intend for the integration of the schools to cause them to change their operations.

“Each school will maintain its unique identity and mission, while its already strong stature, scope and impact will be markedly enhanced by its combination with faculty, curricular offerings and programs in a cohesive College of Business,” Malina said.

Additionally, Dyson students who are New York State residents will continue to enroll at the contract college tuition rate, Malina said.

Malina said the University will invite “key stakeholders” to give input for the new college ahead of January’s Board of Trustees meeting. If approved, faculty and academic leaders will “develop the details of the new integrated structure” following the meeting.

Kotlikoff said he believes the creation of a College of Business brings about a long-needed addition to the Cornell community.

“A unified College will advance Cornell’s mission to apply knowledge for public purpose and educate the next generation of leaders and creators to benefit society and solve some of the world’s major challenges,” Kotlikoff said. “I look forward to the exciting changes to come and working with all of you, as a community, to advance the academic excellence of our great University.”