Executive Vice President and Chief Financial Officer Timothy P. Slottow today was announced as the next president of the University of Phoenix.

Timothy Slottow

Slottow, who has been at U-M for the past 12 years, will take over leadership of the university June 20. He will become the institution’s seventh president, succeeding Bill Pepicello, who is retiring.

“Tim Slottow’s leadership at the University of Michigan amplifies what he has done throughout his accomplished career: delivering measurable results to public and private organizations as they embrace the principle of continuous advancement and transition to reach ambitious goals,” said Merrilee Lewis Engel, chair of the University of Phoenix board of trustees.

In a message to his Business and Finance colleagues, Slottow said it was “with mixed emotions” that he was announcing his departure.

“As you can imagine, this has been a tough decision for me because I love doing what I do for this university and I love working with all of you to “Make Blue Go” each day,” he wrote. He thanked his colleagues for their commitment.

“I can say with confidence that the university’s financial condition, physical and technological assets, and employee support systems are much stronger now than 12 years ago despite having experienced the great recession of 2009, the substantial reduction in state appropriations and growing competition for students, research grants and patients.”

President Mary Sue Coleman congratulated Slottow in an email to the university community.

“Tim Slottow has played an integral role in the university’s growth and financial stability throughout the recession, ensuring the University of Michigan’s academic excellence as he worked in partnership with our academic and university leaders,” Coleman said.

Douglas Strong

Anthony Denton

“Among his many accomplishments are a U-M endowment that now stands at $8.4 billion and the highest possible bond ratings from both Standard & Poor’s (AAA) and Moody’s Investor Services (Aaa). His leadership has shaped many initiatives to enhance the student and employee experience including the physical transformation of campus with new and renovated facilities.”

Coleman said she would recommend to the Board of Regents that Douglas L. Strong, chief executive officer of U-M Hospitals and Health Centers, be appointed interim executive vice president and chief financial officer. Strong has been a member of the U-M Health System since 1998, previously serving as associate vice president for Health System finance and chief financial officer of the Hospitals and Health Centers.

Dr. Ora Pescovitz, executive vice president for medical affairs, said she would recommend the appointment of Anthony Denton, chief operating officer of the Hospitals and Health Centers, as interim chief executive officer of the Hospitals and Health Centers during Strong’s interim role for the university.