Arizona Regents Chair Cecilia Mata to take on UA financial crisis. What to know

New Arizona Board of Regents Chair Cecilia Mata officially took on her role Thursday after an eventful few weeks for the group overseeing the state’s public university system.

Mata was already chair-elect after taking over for former Chair Fred DuVal several weeks ago. DuVal stepped down as chair on Feb. 29, but will remain on as a board member for the remainder of his tenure, which runs until 2026. In the days before the move, Gov. Katie Hobbs criticized him for legal threats he made against the faculty senate leader at the University of Arizona for her remarks about DuVal's former work with a private investment firm.

Thursday’s special board meeting formalized multiple shifts in leadership, alongside UA President Robert Robbins’ previously announced pay cut. For much of the meeting, the regents met privately in executive session to get legal advice on several issues, including the online school University of Arizona Global Campus.

Regents get new chair. Who is Cecilia Mata?

Mata’s appointment comes at a critical point. The board is still working to gain the trust of key groups, more than four months after it was discovered UA had far less cash on hand than previously calculated.

Her appointment also comes as UA took a hit from Moody's Investors Services. The major credit analysis company this month moved the school's financial outlook from "stable" to "negative" because "uncertainty remains around prospects for balanced budget recovery by fiscal 2025." The rating also brought down the Board of Regents' outlook, which is now also "negative."

The rating is a comprehensive analysis of the school's financial health. Moody's explains in its report that the school can improve its outlook by bolstering its cash reserves.

'Financial challenges': UA President Robert Robbins to take pay cut, lose bonuses

Mata was appointed by former Gov. Doug Ducey in 2020. She's served as chair of the University Governance and Operations Committee and was a member of the Strategic Initiatives and Planning Committee.

She is from Panama and speaks English, Spanish and Chinese. In the past, Mata has worked for the University of Arizona South, based in Sierra Vista. She is a part of the Tucson Hispanic Chamber of Commerce and Women Presidents Organization.

Mata is also the founder and president of AllSource Global Management, LLC, a professional services company founded in 2005 that partners with the U.S. Department of Defense and other public and private companies.

In her role, Mata has already huddled with Gov. Katie Hobbs in a meeting last week. Mata said she looks forward to a continued relationship with the governor as the board navigates the ongoing financial difficulties at UA.

'Fox guarding the henhouse': Why Hobbs, faculty are wary of AZ regents' fix for UA's finances

Robert Robbins’ salary cut to start next week

UA President Robert Robbins’ base salary will be around $734,400 starting on March 18 after he requested a pay cut in response to financial headaches at his university. It’s part of a 10% pay cut to his base salary approved Thursday. He previously made a base salary of $816,008, not including additional bonuses.

The move also removes $270,000 in bonuses Robbins could have received over the next several years. The money would have been awarded to him for meeting different criteria involving the university's upcoming Tech Park in Maricopa and the Arizona Institute on Data and Computing.

Former executive director moves full-time to UA chief financial officer role

Former ABOR Executive Director John Arnold is now officially moving his role over to UA. Vice President of Academic Affairs and Institutional Analysis Chad Sampson was appointed as interim executive director.

Arnold was appointed as UA's interim chief financial officer and vice president for business affairs after serving in the role since last December. Arnold stepped in at UA President Robbins’ request after former CFO Lisa Rulney stepped down.

Arnold took a leave of absence from the board when DuVal stepped down after several people, including the governor, pointed out a real or perceived conflict of interest from his dual position. Arnold said he disagreed the roles created any conflict.

Arnold has been with the board since 2015, originally coming on as vice president of business management and financial affairs.

Helen Rummel covers higher education for The Arizona Republic. Reach her at hrummel@azcentral.com. Follow her on X, formerly Twitter: @helenrummel.

This article originally appeared on Arizona Republic: Arizona Board of Regents name Cecilia Mata new chair