If true, this is a major step, and not just because Faust is a woman. Faust has been active at Harvard for the past six or so years as dean of the Radcliffe Institute of Advanced Study. When the university chose Summers as president a few years ago, many of us felt that although he was a good administrator, the university would have been better off promoting someone from within the rank and file, who knew the place much more closely.
Dr. Faust would definitely fit that profile. Best of luck to her.