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Karol Kain Gray, vice president for finance and administration at Stony Brook University in Stony Brook, N.Y., has been recommended to become the new UNC vice chancellor for finance and administration.

Chancellor Holden Thorp selected Gray for the position with an effective date of Dec. 1, 2011. The appointment is pending final approval by the University’s Board of Trustees at their September meeting. Gray would succeed Richard Mann, who announced his retirement this year but agreed to stay on until his replacement was named.

“Karol Gray has distinguished herself as an exceptionally qualified administrator and chief financial officer at Stony Brook University,” Thorp said. “She brings more than three decades of experience at a distinguished public university to Carolina at a time when we face major budget challenges and changes to how we run the campus. We’re very fortunate to have attracted a candidate of her stature to join our administrative team.”

As vice chancellor for finance and administration, Gray would serve as the University’s principal finance and business officer and report to the chancellor.

Duties include oversight of financial planning and budgeting; treasury and risk management; facilities planning, construction and operations; purchases and stores; public safety, environmental health and safety; and auxiliary enterprises. The University’s total operating budget was about $2.4 billion in fiscal 2009-2010.

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Published August 26, 2011.