Contact: Anthony de Bruyn, (512) 499-4363

Date: September 5, 2003

UT System News Release

Interim Vice Chancellor for Business Affairs is Appointed

AUSTIN - Philip R. Aldridge, associate vice chancellor for finance in the University of Texas System, was appointed interim vice chancellor for business affairs today (Sept. 5) by Chancellor Mark G. Yudof. The appointment is effective immediately.

"Philip has successfully demonstrated his vast knowledge in financial and investment matters during his tenure at System Administration," said Chancellor Yudof. "I am confident in his abilities and am grateful that he has agreed to serve in this very important role."

Aldridge joined U.T. System in 2001. As associate vice chancellor for finance, he has been responsible for administering departmental programs regarding debt issuance, capital project review, and the analysis of market trends. Aldridge is also the administrative liaison to the University of Texas Investment Management Company which manages more than $14 billion in operating and endowment funds.

Before joining the U.T. System, he was vice president of finance and treasurer at the Columbia Energy Group, a $7 billion vertically integrated energy firm based in Herndon, Virginia. He earned a bachelor of business administration degree in finance from Texas Christian University and an MBA in finance and accounting from U.T. Austin.

Aldridge succeeds former Executive Vice Chancellor for Business Affairs Kerry Kennedy, who announced his resignation on August 12 to assume the position of vice president for financial affairs and treasurer at the University of Alabama in Tuscaloosa.

Yudof announced that the search for a permanent vice chancellor for business affairs will begin soon.

The U.T. System has 15 campuses, including nine academic and six health institutions, an enrollment exceeding 165,000 students, more than 80,000 employees and an annual operating budget of $7.8 billion.

Executive Vice Chancellor for Business Affairs Resigns (8/12)

High Resolution Photo of Philip Aldridge

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