April 26, 2010

OFFICE OF THE PRESIDENT COMMUNITY

Dear Colleagues:

It is with mixed emotions that I write to tell you that Vice President Anne Broome has informed Executive Vice President Taylor and me of her plans to retire in June as Vice President of Finance after 16 years of devoted service to the University of California.  She has been a wonderful colleague and an indispensable asset to the University and the Office of the President.

Anne made history in 1998, when The Regents approved her appointment as UC’s first female Vice President.  She can look back with pride on a UC career filled with many innovations and successes, most especially in her efforts to move the University toward best practices in our financial processes.

Some of the many initiatives in which Anne has played a valuable role include the development and implementation of the Controller Initiative to require a credentialed Controller at each campus.  The objective of the initiative was to assign responsibility for controls and accountability to a primary position on the campus.  This increased awareness of financial standards and practices and made them a part of the campus culture.  Anne also established better controls over our cash management and developed a new Treasury Workstation to handle the University’s annual $18 billion of revenues.  In addition, she sponsored and developed the systemwide Strategic Sourcing function at the Office of the President.  She also sponsored the development and implementation of the systemwide travel initiative.  In the area of risk services, she oversaw the reorganization of the structure, staffing, and focus of this function and introduced cost avoidance initiatives which will result in over $100 million of lower costs for our campuses this year.  Finally, Anne assumed responsibility for external financing and, in so doing, has improved relationships with the financial community, including investors and the rating agencies.

Anne informed us last June of her intention to retire in June 2010, and over the past months has provided invaluable assistance to Chief Financial Officer Peter Taylor as he assumed his position and has assisted the University through these difficult financial times.  I hope you will join me in expressing heartfelt thanks to Anne for her many contributions to the well-being of this great University.  We will miss her, but wish her all the best as she prepares for an exciting new chapter in her life.

With best wishes, I am,

Sincerely yours,

Mark G. Yudof
President

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