University of Iowa Launches Search for New Chief Financial Officer

The University of Iowa Launches Nationwide Search for New Financial Leader

The University of Iowa is seeking a new chief financial officer (CFO) to guide the institution’s financial strategy, following the announcement of Terry Johnson’s retirement. Johnson, who has been with the university for 34 years, will retire on April 5, leaving a significant legacy in his role as CFO and treasurer.

To facilitate the search for his successor, the university has enlisted the help of executive search firm Spencer Stuart. Peter Matthes, vice president for external relations and senior advisor to the president, along with Edith Parker, dean of the College of Public Health, are co-chairing the search committee. The committee’s members include:

Nancy Dunkel, Iowa Board of Regents

Beth Goetz, Henry B. and Patricia B. Tippie Director of Athletics

Brad Haws, CEO of UI Health Care clinical enterprise and associate vice president, UI Health Care

Craig Just, Donald E. Bently Professor in Engineering, professor of civil and environmental engineering, and Faculty Senate past president

Ryan Kirkey, senior director for business and financial administration, College of Liberal Arts and Sciences

Ashley Peters, revenue cycle manager, UI Health Care, and vice president/president-elect of Staff Council

Scott Seagren, business officer, Division of Student Life

The new CFO will play a crucial role by reporting directly to UI president Barbara Wilson, emphasizing the importance of financial oversight in fulfilling the university’s missions in academics, research, health care, and service. This organizational change underscores the university’s focus on enhancing its executive leadership in finance separately from campus operations.

Currently, the position of senior vice president for finance and operations, held by Rod Lehnertz, will transition to vice president for operations. This role will concentrate on campus planning, real estate, facilities management, business services, and campus safety, allowing for a sharper focus on operational infrastructure.

President Wilson commented, “Our financial strength gives us the opportunity to think strategically about how we invest in the university’s future. Having the CFO report directly to the president will bring that financial perspective into our highest-level decisions and ensure that our resources continue to be aligned with our priorities. At the same time, having dedicated leadership for campus operations will allow our infrastructure functions to have the focus they need to serve the university well.”

The incoming chief financial officer will be responsible for aligning financial resources with strategic priorities, collaborating with university and health care leaders, the Iowa Board of Regents, and other stakeholders. The CFO will also ensure transparency, accountability, and proper management of university resources.

Johnson, who became CFO and treasurer in 2016 after a year as interim, joined the university in 1993 and served as associate vice president and university controller starting in 1997. As the search progresses, more details about community participation will be provided.