Chief Financial Officer to step down

Nancy Suttenfield, senior vice president and chief financial officer, announced today she will step down from her position at Wake Forest University effective October 13, 2010. After guiding the University’s finances during the most challenging financial period of this generation, Suttenfield will serve as special advisor to President Nathan O. Hatch on financial matters for a transitional period. Efforts are underway to identify a successor as soon as possible.

Suttenfield’s chief responsibilities included oversight for financial affairs and resource management at Wake Forest’s Reynolda Campus. Her work involved close collaboration with the University’s academic leadership, as well as the vice presidents for administration and investments, to develop financial strategies to advance the academic mission. Suttenfield’s knowledge and expertise were instrumental in developing a significantly improved financial management and reporting system, a transparent and comprehensive budgeting process, and an outstanding credit rating.

“I am deeply grateful to Nancy for providing essential leadership over the past four years. Her skills and experience have enabled Wake Forest to fare better than most institutions, and we are well positioned as the nation’s economy begins to recover,” said President Nathan O. Hatch. ”She leaves this position in the very capable hands of a talented finance team that is stronger and better than she found it. Nancy’s legacy at Wake Forest will be her impeccable character and integrity. We wish her well in future endeavors.”

Prior to assuming her current position, Suttenfield served as vice chancellor for finance and administration at the University of North Carolina at Chapel Hill, vice president for finance and administration at Case Western Reserve University in Cleveland, Ohio. She has also held positions with the Smithsonian Institution in Washington, D.C., and the Commonwealth of Virginia.