Following a multimillion-dollar deficit in July 2012, the University of Arkansas at Fayetteville has named Southwestern Energy Co. vice president and former secretary Timothy O'Donnell as the associate vice chancellor for budget and financial planning, university officials said in a statement Monday.
The field of finalists had dwindled down to three from a national search that began in July, according to a news release. Starting Oct. 7, O'Donnell will assume his position within the Division of Finance and Administration and will report to UA Finance Chief Don Pederson.
The Arkansas Democrat-Gazette previously reported that the legislative line-item maximum for a position similar to O'Donnell's is $131,334, according to Barbara Abercrombie, UA's human-resources chief
A native of Iowa, O'Donnell received his bachelor business administration degree in accounting from the University of Iowa, the release states. He worked in Dallas for public accounting and real estate development firms before moving to Fayetteville in 1991 to work at Arkansas Western Gas as a manager of utility accounting.
O'Donnell then advanced to other top management positions within the parent company Southwestern Energy Co., department officials said.
In July 2012, the university's Advancement Division had a multimillion-dollar deficit because of overspending, which ultimately acted as a catalyst to create the new in-house budget position, Pederson previously told the Arkansas Democrat-Gazette.