Appointment of Senior Vice President for Finance

August 29, 2013

Members of the Rutgers Community:

I am pleased to inform you that J. Michael Gower, a financial planning expert with more than 30 years of experience in university and medical school business management, has been appointed to the position of Senior Vice President for Finance, effective September 30. As Rutgers’ chief financial officer, Mr. Gower will report directly to me, and he will lead the integration of the University’s financial units.

Mr. Gower’s duties will include overseeing the implementation of a responsibility centered budget management system, which will be rolled out to all schools and administrative units within Rutgers. In managing our more than $3 billion operating budget, he will be working closely with chancellors, deans, senior administrators, and budget officers throughout the University, and with representatives from our newly integrated healthcare system.

Mr. Gower currently serves as vice president for business affairs and chief financial officer at Yeshiva University in New York City. In his five-year tenure there, he secured long-term financing for major capital construction projects, facilities renovations, and IT infrastructure investments, and he overhauled outdated administrative systems.

Highly respected by his peers in higher education, Michael Gower is the incoming president of the Eastern Association of College and University Business Officers and a member of the Board of Directors of the National Association of College and University Business Officers – higher education’s leading professional organization for chief business and financial officers.

Prior to working at Yeshiva University, Mr. Gower served as vice president for finance and administration at the University of Vermont. He also served for many years at Duke University, including service as the chief financial officer for its School of Medicine and director of financial planning and systems for its medical center. Mr. Gower earned his bachelor’s degree from Duke and an MBA from Duke’s Fuqua School of Business.

I would like to thank the search committee and, in particular, its dedicated chair, Bruce Fehn. Since coming to Rutgers in 1986, Bruce has made significant contributions to the University’s financial and administrative services during his tenure as university controller, associate vice president for finance, and, since 2007, Senior Vice President for Finance and Administration. With skill and grace, Bruce has played a critical role in budget management, capital planning, and financing and debt management. He has been a trusted resource for our governing boards, serving with distinction on the audit committee, the finance and facilities committee, and the investment committee. During the past year, he played an invaluable role in the integration process, leading the complex and highly successful effort to refinance the UMDNJ debt assigned to Rutgers, University Hospital, and Rowan University. I applaud Bruce for all of his accomplishments, and I know that he will continue to provide vital leadership to the University in his role as Senior Vice President for Administration.

Please join me in welcoming Michael Gower to Rutgers and in offering him your support as we implement our new budget management system.


Bob Barchi