UA System Trustees debate merits of University of Phoenix acquisition

by Michael Tilley (mtilley@talkbusiness.net)

The University of Arkansas System Board of Trustees on Wednesday (April 19) heard almost three hours of discussion about ongoing efforts to buy the University of Phoenix (UofP). The meeting included a surprise that trustee approval is optional for what could be a more than $500 million deal.

Transformative Education Systems (TES), an organization loosely but not legally affiliated with the UA System, was incorporated to raise the financing to acquire the UofP and enter into licensing and/or affiliation agreements with the UA System. Arkansas law does not allow the UA System to directly acquire the UofP, according to Patrick Hollingsworth, UA System interim general counsel. TES has UA System representation, but most of its officers are independent.

Wednesday’s discussion was the first time the trustees and the public heard more detailed information following reports that UA System President Donald Bobbitt had been working behind the scenes for at least two years to pursue the deal that would affiliate the system with the UofP, which is primarily an online for-profit university with more than 83,000 students. The UA System, of which the flagship campus is the University of Arkansas at Fayetteville, enrolls more than 70,000 students, employs over 28,000 and has a total budget of over $4 billion.

https://talkbusiness.net/2023/04/ua-system-trustees-debate-merits-of-university-of-phoenix-acquisition/

Gov. Sanders appoints Kevin Crass to UA board to replace Charles Gibson

by Paul Gatling (pgatling@nwabj.com)

Gov. Sarah Sanders on Thursday (March 2) appointed Little Rock attorney Kevin Crass to a 10-year term on the University of Arkansas System board of trustees.

He replaces board chairman C.C. “Cliff” Gibson III of Monticello. His term expires this year.

Crass is a senior partner in the litigation practice group at Friday, Eldredge & Clark. He was also executive director of the governor’s transition team following her election this past November.

https://talkbusiness.net/2023/03/gov-sanders-appoints-kevin-crass-to-ua-board-to-replace-charles-gibson/

VA secretary appointed to University of Arkansas System board of trustees

by Paul Gatling (pgatling@nwabj.com)

Gov. Asa Hutchinson announced a new member Wednesday (June 22) to the University of Arkansas System board of trustees. Col. (U.S. Army, Ret.) Nathaniel “Nate” Todd of Pine Bluff, secretary of the Arkansas Department of Veterans Affairs, joins the board for a 10-year term.

Todd is replacing Dr. Stephen Broughton, a Pine Bluff psychiatrist, whose 10-year term expired in March. Colonel Todd’s term will expire in March 2032.

According to a news release from the governor’s office, Todd is a 37-year veteran of the Army and Army Reserve, where his roles included Director of Health Financial Policy for the U.S Army Surgeon General and Chief Financial Officer for Walter Reed Army Medical Center in Washington.

https://talkbusiness.net/2022/06/va-secretary-appointed-to-university-of-arkansas-system-board-of-trustees/

Governor Hutchinson Appoints Jeremy Wilson to UA Board of Trustees

LITTLE ROCK – Governor Asa Hutchinson has appointed Jeremy Wilson of Bentonville to the Board of Trustees of the University of Arkansas. Wilson replaces John Goodson, who has served since 2011. Wilson's term will expire March 1, 2031.

Wilson has over 25 years of business experience in the state and has founded or cofounded 10 companies in the past seven years. 

He is the founder of NOWDiagnostics, a leader in innovative diagnostic health testing. He currently serves as chairman of its board of directors. 

In 2012, he cofounded NewRoad Capital partners, one of Northwest Arkansas's largest private equity firms. 

Wilson has been recognized as one of Arkansas's 250 Most Influential Leaders for the past three years by Arkansas Business Publishing Group.

He is a graduate of the Walton College of Business and attended postgraduate studies through the Harvard Business School Executive Education Program. 

"I am delighted to appoint Jeremy Wilson to the Board of Trustees of the University of Arkansas. Jeremy recognizes the role the University currently plays in the region and throughout the state," Governor Hutchinson said. "With his experience, from the ground floor of several startups to multinational companies, he will bring an entrepreneurial mindset and innovative approach to the Board for the next decade and beyond."

"As a proud Razorback, I’m honored to be appointed to the University of Arkansas Board of Trustees and have the opportunity to serve my alma mater and the entire University of Arkansas System," Wilson added. "The UA System is foundational to the culture and economics of the state of Arkansas and helping the University continue to grow this amazing legacy and its commitment to educational excellence is the honor of a lifetime. I thank Governor Hutchinson for the appointment."

The Governor added his appreciation to John Goodson for his service to the Board of Trustees. "I want to thank John for his decade of service to the UA System and his tenure as chair. He has left an indelible mark on the University of Arkansas, and I am grateful for his service."