Distributed May 2, 2002
For Immediate Release

News Service Contact: Mark Nickel

Donald J. Reaves named VP and CFO at University of Chicago

Donald Reaves, Brown’s CFO and executive vice president for finance and administration, will leave the University this summer to become vice president and CFO at the University of Chicago.

PROVIDENCE, R.I. — Donald Julian Reaves, Brown University’s executive vice president for finance and administration and chief financial officer, has accepted an appointment at the University of Chicago as vice president and chief financial officer. He will begin his work in Chicago August 15, 2002.

Ellen O’Connor, vice president for finance, will serve as acting vice president for finance and administration. President Ruth J. Simmons will personally lead the search for Reaves’ successor. Simmons sent the following message to the campus community:

May 2, 2002

Dear Faculty, Staff and Students,

I am writing to inform you that Donald Reaves, the University’s Executive Vice President for Finance and Administration and CFO since 1993, will be leaving Brown to accept a position as Vice President and Chief Financial Officer at the University of Chicago starting on August 15, 2002. Donald has served this University with great distinction for fourteen years, first as the University’s Budget Director, then as Vice President for Finance, and for the last nine years as Executive Vice President, and all of us will miss him greatly. At the same time, this is a wonderful opportunity for Donald to take on new challenges at a wonderful institution and to make new contributions to the University of Chicago and to higher education more broadly. I will always be grateful to Donald for the friendship and support he has given me in our too-short time working together, and we all owe him a great deal for his many contributions to Brown University and to our broader community. There will be other opportunities in the future to thank Donald more fully and more formally, but I know that you all join me in wishing Donald the very best in his new endeavors.

The CFO position is one of the most important in the University and Donald’s departure will leave a very large hole in the administration. I will be launching a search for Donald’s successor immediately, therefore, and will be looking for the most able and most experienced person possible to fill the position as quickly as possible. I will lead this search myself, assisted by Executive Vice President for Planning Dick Spies. Much of the work will necessarily take place over the summer, but my hope nonetheless is to involve all the constituencies of the University in this process as much as possible, including faculty, staff, and medical, graduate and undergraduate students. Since the CFO works closely with several Corporation committees and individual Fellows and Trustees, I will also work with the Corporation to ensure that we find the very best person for this job. Anyone who has thoughts or suggestions about this search, either about the kind of person we should be seeking or about the process, should certainly be in touch with me or Dick Spies.

Since it is unlikely that we will have completed this search by the time Donald leaves for Chicago, I have asked Ellen O’Connor to assume the position of Acting Vice President for Finance and Administration as of July 1, 2002, in addition to her current duties. Ellen is, as most of you know, the University’s Vice President for Finance and already oversees many of the functions that fall within the purview of the Executive Vice President/CFO. Ellen has very graciously agreed to take on this assignment and I am confident that, with the help of her colleagues in Finance and Administration and all of you, she will do an excellent job and will guide us through this period of transition extremely well.


Ruth J. Simmons