Changes Made to Tech Fund Board of Directors
Changes to the make-up of the Board of Directors of the Michigan Tech Fund were approved earlier this month. The restated bylaws of the Michigan Tech Fund were adopted on May 2 and will become effective on July 1, 2016.
The number of Michigan Tech Fund directors remains at nine, with five of those directors designated by the University’s Board of Trustees.
Under the new bylaws, the chairperson, Terry Woychowski, chair of the University Board of Trustees, and Vice Chair Linda Kennedy, along with the trustee serving as the chairperson of the Board’s Audit and Finance Committee (to be determined in August), are to serve as ex-officio voting members of the Tech Fund Board of Directors.
Under the restated bylaws, Michigan Tech President Glenn Mroz, will also be ex-officio president of the Michigan Tech Fund and continues as a voting member of the Tech Fund Board of Directors. The appointment is to run concurrent with the term of University President. The bylaws now require the president to appoint a vice president of the Michigan Tech Fund. Mroz has appointed Assistant Vice President for Advancement Eric Halonen to fill this position.
The fifth University Board of Trustees designee is David Reed, vice president for research, the individual who supervises the Michigan Tech budget director. This is also an ex-officio voting position that runs concurrent with his term of University employment.
At the May meeting it was also announced that former Michigan Tech Chief Financial Officer Dan Greenlee will retire from the Tech Fund Board of Directors at the end of June. The Board of Directors thanked him for his years of service to the University. Greenlee will still serve as a volunteer member of the Michigan Tech Fund Investment Committee.
There were no changes made to the method of selection of the volunteer members of the Board of Directors of the Fund. The current volunteer members of the Michigan Tech Fund Board of Directors are George Butvilas, Dale Elliott, Paul Fernstrum and David Rowe.