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Former software executive Timothy Wolfe was named the University of Missouri's next president on Tuesday, capping a nearly yearlong search for a business-minded leader with ties to academia and Missouri roots.
Wolfe, 53, said he will assume leadership of the four-campus system in mid-February, using the time until then to visit with people around the state and learn more about the university.
Among his chief challenges: securing financing for a university that has been repeatedly hit by state budget cuts and has been forced to raise student
tuition.
Wolfe was the president of software company Novell Americas until it was acquired in April by Attachmate Corp.
Previously, he was executive vice president of the consulting and business technologies firm Covansys and spent about two decades rising through the executive ranks at IBM.
A native of Columbia, Wolfe played quarterback for his high school's state champion football team and graduated from the business college at the university's flagship campus, where his mother earned four degrees his father is a retired faculty member in the College of Arts and Sciences.
University officials described Wolfe's hiring as a homecoming.
He replaces Gary Forsee, another former businessman, who stepped down in January to care for his wife, who is battling cancer.
Interim president Steve Owens did not seek the job permanently and plans to return to his role as general counsel when Wolfe officially takes over as president.
The university Board of Curators started its presidential search with a list of about 100 candidates.
It kept the finalist secret until Tuesday's announcement, which was made in front of a couple hundred people at the Columbia campus alumni center and live-streamed on the
Internet.
After addressing the crowd, Wolfe got a hug from the school's mascot, Truman the Tiger, and clapped along to the school fight song.
Wolfe pledged to develop a vision and strategy for the university that highlights "the critical importance of higher education in our economy, our health and for our future generations" and thus attracts financing from the state, businesses, alumni and other donors to fund the university's growth and pay competitive wages to faculty and staff.
He said his business experience has made him adept at finding cost-savings and new revenue opportunities, although Wolfe did not single out any particular potential new revenue sources the university might pursue.
"I understand I do not have a career in academia, but I vividly understand the importance of higher education," Wolfe said during his introductory remarks. He added: "I'm ecstatic and proud to be the newest member of the University of Missouri family."
Wolfe quickly waded into two of the hottest topics in Missouri's higher education community: Praising the recent decision by the Columbia campus to switch from the Big 12 to the Southeastern Conference and embracing Gov. Jay Nixon's push for performance-based funding for higher education
institutions.
Curators' chairman Warren Erdman said Wolfe agreed to a three-year contract with a base salary of $450,000 and the potential to earn up to $100,000 in performance bonuses based on criteria to be determined in coming months.
Forsee had an annual salary of $400,000 and also was eligible for up to $100,000 in performance bonuses, though he declined to claim them.
Wolfe said Erdman contacted him in early August to gauge his interest in the position, and his conversations with Forsee — who had resigned as chairman and CEO of Sprint Nextel before becoming the university president in February 2008 — played an important role in his decision to pursue the presidency.
Former software executive Timothy Wolfe was named the University of Missouri's next president on Tuesday, capping a nearly yearlong search for a business-minded leader with ties to academia and Missouri roots.
Wolfe, 53, said he will assume leadership of the four-campus system in mid-February, using the time until then to visit with people around the state and learn more about the university.
Among his chief challenges: securing financing for a university that has been repeatedly hit by state budget cuts and has been forced to raise student
tuition.
Wolfe was the president of software company Novell Americas until it was acquired in April by Attachmate Corp.
Previously, he was executive vice president of the consulting and business technologies firm Covansys and spent about two decades rising through the executive ranks at IBM.
A native of Columbia, Wolfe played quarterback for his high school's state champion football team and graduated from the business college at the university's flagship campus, where his mother earned four degrees his father is a retired faculty member in the College of Arts and Sciences.
University officials described Wolfe's hiring as a homecoming.
He replaces Gary Forsee, another former businessman, who stepped down in January to care for his wife, who is battling cancer.
Interim president Steve Owens did not seek the job permanently and plans to return to his role as general counsel when Wolfe officially takes over as president.
The university Board of Curators started its presidential search with a list of about 100 candidates.
It kept the finalist secret until Tuesday's announcement, which was made in front of a couple hundred people at the Columbia campus alumni center and live-streamed on the
Internet.
After addressing the crowd, Wolfe got a hug from the school's mascot, Truman the Tiger, and clapped along to the school fight song.
Wolfe pledged to develop a vision and strategy for the university that highlights "the critical importance of higher education in our economy, our health and for our future generations" and thus attracts financing from the state, businesses, alumni and other donors to fund the university's growth and pay competitive wages to faculty and staff.
He said his business experience has made him adept at finding cost-savings and new revenue opportunities, although Wolfe did not single out any particular potential new revenue sources the university might pursue.
"I understand I do not have a career in academia, but I vividly understand the importance of higher education," Wolfe said during his introductory remarks. He added: "I'm ecstatic and proud to be the newest member of the University of Missouri family."
Wolfe quickly waded into two of the hottest topics in Missouri's higher education community: Praising the recent decision by the Columbia campus to switch from the Big 12 to the Southeastern Conference and embracing Gov. Jay Nixon's push for performance-based funding for higher education
institutions.
Curators' chairman Warren Erdman said Wolfe agreed to a three-year contract with a base salary of $450,000 and the potential to earn up to $100,000 in performance bonuses based on criteria to be determined in coming months.
Forsee had an annual salary of $400,000 and also was eligible for up to $100,000 in performance bonuses, though he declined to claim them.
Wolfe said Erdman contacted him in early August to gauge his interest in the position, and his conversations with Forsee — who had resigned as chairman and CEO of Sprint Nextel before becoming the university president in February 2008 — played an important role in his decision to pursue the presidency.
