Woolridge named chair of UMass board, will lead new leader search

VICTOR WOOLRIDGE has been named the chairman of the board of trustees for the University of Massachusetts system and will lead the search for a replacement of Robert L. Caret, who is leaving the system in June to become chancellor of the University of Maryland. / COURTESY UNIVERSITY OF MASSACHUSETTS
VICTOR WOOLRIDGE has been named the chairman of the board of trustees for the University of Massachusetts system and will lead the search for a replacement of Robert L. Caret, who is leaving the system in June to become chancellor of the University of Maryland. / COURTESY UNIVERSITY OF MASSACHUSETTS

BOSTON – Victor Woolridge, a trustee of the University of Massachusetts, has been named chairman of the board and tasked with leading the search for a new university president.

UMass President Robert L. Caret congratulated Woolridge on his appointment Monday by Massachusetts Gov. Charlie Baker. Caret announced in December that he will resign in June to become chancellor of the University of Maryland.

Baker said in a statement that, aside from his business acumen, Woolridge “brings a clear strategic vision for leveraging the entire UMass system to fulfill its promise for academic excellence, affordability and economic impact.”

Woolridge replaces outgoing Chairman Henry M. Thomas, III, who will continue to serve on the board of trustees.

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Caret called Woolridge’s contribution to the board of trustees “vital,” particularly as chairman of the committee on administration and finance, a post Woolridge has held since 2011. That committee oversees university resources and capital projects.

“Trustee Wooldridge is an inspired choice … given his professional background in finance and his devotion and commitment to the university’s advancement,” said Caret. “I am confident he will provide great leadership of the university system at this time of transition.”

Caret said Thomas has “presided over an era of growth and achievement that helped to jettison UMass into the top tier of public universities in the nation.”

Woolridge is vice president of Cornerstone Real Estate Advisers. Prior to joining Cornerstone, Woolridge was the managing director for Babson Capital Management for 10 years. Woolridge is also a graduate of UMass Amherst with a bachelor of arts degree in legal studies.

Appointments to the Board of Trustees are for a five-year term. Woolridge’s current term expires in 2019.

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