Chancellor of the University of Texas system since 2002 and previously serving as the president of the University of Minnesota, Yudof is accustomed to running a public university system during times of financial hardships.
Following his appointment on March 27, Yudof commented on his optimism for getting the UC’s problems solved, noting that “budget crises and morale crises” are not unique to California’s public university system. The deciding factors of Yudof’s uncontested appointment were his proven financial managerial skills at UT and Minnesota.
“Yudof’s prudent management skills set him apart” from other candidates considered by the committee, Chairman of the Board of Regents and the Selection Committee Richard C. Blum said.
Regent Russell Gould, in agreement with Chairman Blum, noted the importance of appointing Yudof during this time of budget cutbacks and difficult economic circumstances.
“This is a significant step forward for the University of California,” Gould said of Yudof’s appointment. Other Regents echoed the sentiment that Yudof is the right person at the right time, and shared Chairman Blum’s enthusiasm.
Ironically, while confidence in Yudof’s management abilities led the Regents to endorse him, it was a financial matter that could have cost Yudof the appointment.
According to the Chronicle of Higher Education, as the head of the UT system, Yudof’s pay with total compensation was $742,209, which is over $300,000 more than current-UC President Robert Dynes’ fully compensated salary.
The UC Regents voted unanimously for Yudof to receive a base salary of $591,084. In addition, Yudof will receive another $236,916 in yearly compensation
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