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UPenn holds inauguration ceremony for 9th president

PHILADELPHIA (CBS) – The University of Pennsylvania has a new president. Friday, Elizabeth Magill was inaugurated as the university's 9th president.

She formerly held leadership positions at Stanford Law School and the University of Virginia. 

Magill gave an inaugural address after receiving the symbolic president's badge and three keys. 

She is the university's first new leader in 18 years.

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