University of Michigan hires presidential search firm; budgets $350,000 for hunt

​The University of Michigan Board of Regents has hired a search firm to assist in finding President Mary Sue Coleman's replacement.

Coleman is retiring in July 2014 and regents announced Thursday that Russell Reynolds Associates will lead the search for her successor.

U-M will pay the firm $300,000 and is budgeting an additional $50,000 for expenses.

"A presidential search involves two aspects: search and recruitment because it’s not a big pool of people in this country who can lead a complex place like Michigan," U-M Board of Regents chair Larry Deitch said in an interview. "So you need the professional expertise to talk to people, find candidates, vet them, reference them. So that’s why you go out to a search firm."

You can read the rest of the article here.