Determine if the sentence is true based on the text below:
The Massachusetts Institute of Technology (MIT) appoints Stefano Falconi as chief financial officer.

Stefano Falconi, director of finance at the Massachusetts Institute of Technology (MIT), has joined Carnegie Mellon as its vice president for administration and chief financial officer. Falconi succeeds Jeff Bolton, who left the university last July to become chief financial officer at the Mayo Foundation in Rochester, Minn.
no