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The University of Wyoming Board of Trustees today (Friday) appointed Dick McGinity as the university’s interim president, expressing confidence that the university will move forward under his leadership.
McGinity, UW’s interim vice president for academic affairs, has fulfilled the duties of president since the resignation of former president Bob Sternberg Nov. 14. With the board’s action today, McGinity will assume the office of interim president for an undefined period and see his annual salary increase from $240,000 to $375,000.
“We have confidence in Dr. McGinity and the current administrative team,” says Dave Bostrom, president of the Board of Trustees. “Our vote formalizes that position.”
No presidential search is being launched at this time, and the board has made no decisions about the details of any future search.
The executive committee of UW’s Faculty Senate has expressed support for McGinity’s appointment as interim president, and UW’s academic deans issued a statement committing “to work alongside him” in that capacity.
“We believe the university is on a positive trajectory, and we will work closely with our interim president to assure that progress continues with regard to the land-grant mission of service to the people of Wyoming, its state government and the economy,” Bostrom says.
“I will do my very best to lead the university’s administrative team as we move ahead with already-established priorities and plan for more improvements,” McGinity says.
McGinity and his administrative team are working with Gov. Matt Mead and lawmakers to prepare for the Legislature’s 2014 budget session. The governor has recommended funding for a number of the university’s top priorities, including a pay raise to retain and recruit top UW employees; programmatic and capital facilities improvements for the College of Engineering and Applied Science; enhancement of information technology and classrooms for students; and partnerships with Wyoming community colleges. McGinity will appear before the Legislature’s Joint Appropriations Committee next week to discuss the university’s budget proposal.
At the same time, McGinity is leading the development of the university’s strategic plan for 2015-2020. That planning process, which will involve all UW units, aims to establish priorities and lay out concrete steps to reach new levels of excellence in specific areas of teaching, research and service.
“The university has opportunities to make significant advancements, both in the short term and long term,” McGinity says. “I aim to work collaboratively with our strong faculty and staff, and with the university’s supporters across the state and beyond, to identify the biggest opportunities and then move ahead to capitalize on them.”
Before becoming UW’s interim vice president for academic affairs in September, McGinity had held the Bill Daniels Chair of Business Ethics in UW’s College of Business since 2007.
His public service includes more than seven years as a member of the Wyoming Business Council board of directors; and five years as a naval aviator, earning two air medals for service in Vietnam.
After earning his undergraduate degree from Princeton and graduate degrees (MBA, DBA) from Harvard, McGinity pursued a career in venture capital and private equity -- first as a partner in a venture capital fund, and then as founder of an investment banking firm which served owners of private firms seeking to build enterprise value through growth, acquisitions and equity transactions.
He also served on the research faculty of Harvard Business School, where he wrote numerous case studies, co-wrote a book about economic development and agribusiness, and wrote his doctoral dissertation on competition in the meatpacking industry from 1945 to 1960.
McGinity has served on the boards of numerous privately owned and publicly traded companies, most recently Canada Southern Petroleum Ltd. where, as chairman, he led that company’s successful defense against a hostile takeover attempt by Petro-Canada.
McGinity maintains a home in Crowheart. He loves being in the wilderness on horseback and is a licensed professional guide.