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Last modified: Friday, August 19, 2005

IU Trustees appoint university treasurer, elect officers

AUG. 19, 2005

INDIANAPOLIS -- The Indiana University Board of Trustees today (Aug. 19) appointed MaryFrances McCourt to the position of University Treasurer.

The nine-member board also elected officers for two-year terms ending in 2007. Stephen L. Ferguson of Bloomington was elected president and Patrick A. Shoulders of Evansville was elected vice president.

MaryFrances McCourt

Print-Quality Photo

As University Treasurer, McCourt will serve as the chief investment officer for the university's portfolio of approximately $1 billion. She comes to IU from Agilysys Inc., of Cleveland, Ohio, where she was Director, Treasury. Agilysys is a distributor of enterprise computer technology solutions for medium to large corporations, especially in the hospitality industry.

As Treasury Director, McCourt was responsible for management of cash, reduction of debt and capital management. During her 14 years at the company, she also served as a financial planning director and financial analyst.

"MaryFrances will bring a new and valuable perspective to the Treasurer's Office, given her private sector experience," said Judy Palmer, IU vice president and chief financial officer. "Reviewing Indiana University's current investment policies and strategies will be a key focus in the coming months."

McCourt will begin her new duties at IU on Oct. 1. She holds a bachelor's degree from Duke University and an MBA degree from Case Western Reserve University.

She and her husband, Michael, will be moving from Cleveland to Bloomington. The couple has three children.

Before being elected by fellow board members as president today, Ferguson had served as vice president since 2003. He originally was appointed to the IU Board of Trustees by Gov. Frank O'Bannon in 1998. A Bloomington attorney, Ferguson is chairman of the board for Cook Group Inc. and executive vice president.

Shoulders has served on the IU Board of Trustees since 2002, when he was appointed by O'Bannon. With his term drawing to a close and not expecting to be re-appointed by current Gov. Mitch Daniels, Shoulders ran for election this past June and was elected. Shoulders is a partner in Ziemer, Stayman, Weitzel & Shoulders law firm in Evansville.

Also during the trustees' meeting, three new trustees were sworn in to office. They are Tom Reilly Jr. of Indianapolis, Dr. Bill Cast of Fort Wayne and Casey Cox. They were appointed in July by Daniels.

Reilly, of Indianapolis, is retired after 13 years as chair of Reilly Industries in Indianapolis and recently served as the chair of the Committee on Higher Education for the Indiana Government Efficiency Commission.

Cast is a physician from Fort Wayne. He is the founder of DuPont Hospital there and has been in private practice with Ear, Nose & Throat Specialists since 1969. He will serve a three-year term as an IU trustee, as will Reilly.

Cox will serve a two-year term as the IU student trustee. He is a first-year IU School of Law student from Spencerville. As an undergraduate at IU, he was president of the student body.

For complete biographies (in the cases of Ferguson and Shoulders not updated to reflect today's election) go to: (Ferguson) (Shoulders) (Reilly, Cast and Cox)