Regent Lysonge presented Mac Stewart from Academic Search, who gave an update on the Presidential Search process. Dr. Stewart provided some background information on Academic Search, stating that it is based in Washington, D.C. and has extensive experience in such searches. He stated that at this point Academic Search has talked to various constituent groups and is using the input received in those discussions to prepare a profile of the next president. He stated that the profile will be used to advertise the position to prospective candidates. He also stated that there will be very broad advertising for the position.

Dr. Stewart also explained the search process. He stated that Academic Search will review the credentials of all nominated candidates and work with the Presidential Search Committee to choose select candidates to interview. After those interviews, the Presidential Search Committee will make specific recommendations to the Board and the Board will select the next University President.

Regent Lysonge stated that the profile for the president should be ready by mid to late November. He expects the final pool of candidates to be selected by late January and then the Board and all stakeholder groups can review the final candidates in February.

No action was taken in regard to the Presidential Search Committee report.

Regent Reddy presented his vision of the purpose and activities of the Governance Committee. He stated that he expects the committee to define and refine the roles of Board members and provide clear guidelines for Board members in terms of the execution of their fiduciary duties. He used a slide presentation to outline the basic fiduciary duties for Board members and to explain the general responsibilities of Board membership.

He also stressed that the Board must work together with the President and the faculty to be effective. He stated that the Board should periodically re-evaluate its purpose, mission and goals.

No action was taken in regard to the Governance Committee report.

Regent Farris gave the report of the Academic Affairs Committee. She reported that the Academic Affairs Committee met on the previous day. She reported to the Board that, during the meeting, all members were present except Dr. Reddy. Minutes from the previous meeting were approved. Dr. Candice Jackson presented to the committee. She

[3]