Ohio State losing its top financial exec
Ohio State University’s main money man is leaving the university for a new job.
Geoff Chatas, senior vice president for business and finance and chief financial officer for Ohio State, will join Georgetown University, where he is an alumnus, as a senior vice president and chief operating officer, Ohio State announced Friday.
Chatas has been with Ohio State since 2010. He will remain at the university until February.
“It has been my honor to be part of this great flagship university,” Chatas said in a written statement. “Ohio State has made tremendous strides, and it has been particularly rewarding to advance access, affordability and excellence for students and families throughout Buckeye Nation.”
Chatas has helped lead a number of initiatives at Ohio State during his tenure, including:
A $ 483 million lease of the university’s parking operations that has generated millions for student scholarships.
A record 20-year, $252 million sponsorship contract with Nike.
An energy- privatization deal that earned Ohio State a $ 1.1 billion upfront payment, plus later- stage payments.
A collaboration with Apple to launch a digital learning initiative.
Chatas previously announced plans to leave Ohio State in March 2015 to lead infrastructure business in North America for QIC, the Australian company that paid Ohio State millions to lease campus parking operations. At the time, some critics questioned whether it was proper for Chatas to take the job after he’d overseen the parking deal.
The next month, Chatas announced he had changed his mind and would stay at Ohio State to help implement President Michael V. Drake’s affordability and cost- reduction visions for the university.
“The work of Geoff and his team has contributed greatly to momentum across our university,” Drake said in a statement Friday. “This is a wonderful opportunity for Geoff to return to his alma mater — and we wish him the very best.”
Deputy Chief Financial Officer and Treasurer Michael Papadakis will serve as interim CFO following Chatas’ departure. Papadakis is currently vice president of financial services and innovation.
Friday’s announcement marks the latest in a handful of recent leadership departures at Ohio State. Dr. Michael Caligiuri, leader of the Ohio State University James Cancer Hospital, resigned last month and has since accepted a position with the City of Hope National Medical Center in Duarte, California. In May, Dr. Sheldon Retchin, CEO of the Wexner Medical Center, resigned after more than 40 physicians expressed concerns about leadership at the medical center.
Chatas earned more than $779,000 in 2016, including base salary and bonuses. Earlier this year, the university’s board of trustees renewed his contract through 2020.