President's October Report to the Board of Regents

Thank you, Chair Mayeron.

It’s been an exciting fall semester so far, and I am pleased to share some highlights from across the University of Minnesota System as part of my October President’s Report.

Ever since I arrived here in the Twin Cities, you have heard me talk at great lengths about how extraordinary this place is.

Well, I am pleased to report that many others across the country are also recognizing the University’s tremendous value and impact.

U.S. News & World Report recently released its 2025 Best Colleges rankings, and I am excited to share that U of M has maintained its position as one of the nation’s leading public research universities.

Here is a snapshot of how we fared in the latest rankings:

• Our Crookston campus ranks No. 3 among Top Public Schools – Regional Colleges in the Midwest.
• Our Morris campus ranks No. 7 among Top Public Schools – National Liberal Arts Colleges.
• Our Duluth campus ranks No. 20 among Regional Universities in the Midwest.
• And our Twin Cities campus ranks No. 23 among Top Public National Universities.

These rankings are a direct reflection of our talented students, faculty and staff, whose leadership, creativity and commitment to serving the public good are simply unmatched.

Our national reputation is also a direct reflection of our health care infrastructure, and so I would like to provide some updates about a letter of intent for U of M to acquire the University Medical Center facilities.

The University, M Physicians and Fairview recently agreed to extend the deadline for completing the analyses, discussions and decisions necessary to advance our letter of intent and resulting definitive agreements.

University leadership planned for this potential when they signed the letter of intent earlier this year, and I am working closely with our advisory team to complete the current stage of discussions.

This work is as important as it is complex.

We all believe it is better for our faculty, clinicians, researchers, learners, employees and patients to get this work done right than for us to get it done quickly.

I am confident in the progress we are making toward governing the University-led academic health system that we all envision.

As has been true throughout these discussions, nothing changes for our patients, our care teams or our employees at any of our facilities.

We remain focused on providing the high-quality, innovative care Minnesotans expect and deserve, and on strengthening our joint clinical enterprise.

Beyond health care, we continue to spur transformational change through our booming research enterprise.

As one of the nation’s leading public research universities, we have a unique responsibility to ensure that our innovations and discoveries are translated in ways that positively benefit people and the communities in which they live.

Our students, faculty and staff have embraced this idea of research commercialization, and it’s certainly reflected in our latest metrics.

We launched 25 startup companies based on U of M research last year — 22 of which are located right here in Minnesota.

To put this into perspective, over the last five years, only a handful of universities nationwide have been creating 20 or more startups per year.

And if you go back to 2006 when our Venture Center was founded, U of M has launched more than 260 startup companies. 

Our researchers have cultivated an ecosystem for innovation, and as a result, we continue to create new products and solutions that transform, improve and enhance the world around us.

It is important to note, though, that our research enterprise extends far beyond just science, medicine and engineering.

We have a tremendous breadth and depth of scholarship, arts and creative practice that many of our peers across the country simply cannot match.

I say this with conviction after joining my colleagues from the College of Liberal Arts last week on a tour of our research labs, art galleries, historical archives and collections.

I visited the Center for Applied & Translational Sensory Science.

I got to see the Jean-Nickolaus Tretter Collection in Gay, Lesbian, Bisexual and Transgender Studies.

And I toured our Ancient and Modern Genetics Labs.

Our work across the liberal arts is truly impressive – from psychology and philosophy to theater design and technology.

I look forward to working with our deans, Vice President Priya and other members of our research community so that we can identify new opportunities to promote increased collaboration across our diverse disciplines.

As we continue to move forward as a University system, I am very excited to extend an official welcome to Gregg Goldman, who will serve as our new Executive Vice President for Finance & Operations.

The Board of Regents approved Gregg’s appointment yesterday, and his official start date is November 11.

Gregg is a seasoned finance and operations leader who brings more than 30 years of experience in higher education to the Twin Cities.

At UCLA, Gregg served as vice chancellor and chief financial officer.

He has also led finance and operations efforts at UC Irvine, USC and Arizona.

As Executive Vice President for Finance and Operations, Gregg will be responsible for the University’s $4.5 billion annual operating budget.

He will oversee a staff of more than 2,700 employees.

And he will manage our fiscal approach across the five campuses and other sites, including the University Medical Center, ensuring overall fiscal operational excellence.

I look forward to working with Gregg so that, together, we can guide the University toward a bright future, while supporting our students, faculty and staff so they can achieve their goals.

And a special thank you to Julie Tonneson for her outstanding service as interim senior vice president for finance and operations.

Julie has been a tremendous colleague throughout the early months of my presidency, I am truly grateful for her strong support and steady leadership.

I also would like to thank Rachel Croson, Ken Horstman and the entire search committee for their dedicated time and thoughtful service throughout this important national search process.

Before I conclude my President’s Report, with the presidential election only a few weeks away, I wanted to take this opportunity to congratulate the Twin Cities campus for winning the Minnesota Democracy Cup.

The Twin Cities campus had the highest voter turnout amongst 4-year public institutions statewide in 2022.

While we are on this topic, voter registration deadlines for the November 5 general election are right around the corner:

• The deadline to register on paper is 5 p.m. on Tuesday, October 15.
• The deadline to register online is 11:59 p.m. on Tuesday, October 15.
• Otherwise, you can register on Election Day at your polling place.

We will have an early voting site available on the Twin Cities campus on Tuesday, October 22 at the Weisman Art Museum.

You can find more details on our M Vote website.

Lastly, I would just like to thank everyone who participated in the presidential inauguration ceremony on September 18.

A special shout-out to Anne Wiltscheck and her colleagues at the Foundation for all of the time and effort that went into organizing every last detail.

Inauguration once again reminded me of how honored I am to serve as the 18th President of the University of Minnesota System.

We are going to accomplish many great things together.

Thank you for your time and attention this morning.

Chair Mayeron, that concludes my report.