Cole will succeed current Dean Nell Jessup Newton, who is stepping down July 1 after serving 10 years.

A scholar of the empirical law and economics of commerce and finance, Cole joined the Stanford faculty in 1997. He previously held two endowed chairs and served for five years as associate dean for curriculum and academic affairs. Before joining the Stanford faculty, Cole was an associate with the Chicago law firm of Mayer Brown. He clerked for Judge Morris Sheppard Arnold in the 8th U.S. Circuit Court of Appeals.