University of Memphis makes high-level appointments
Cato Johnson has served on the University of Memphis Board of Trustees since its inception in 2016, and for the past two years, he's been one of its covice chairs.
Now, the board has named him its chairman.
“I am both honored and humbled,” Johnson said, in a press release. “I am proud to be a graduate and member of this Board, and I will do my level best to make sure I follow in the footsteps of our two previous amazing chairs and continue to serve this tremendous board that I have come to love.”
Johnson is poised to officially take the reins as chairman when the board holds its next meeting in March, replacing Doug Edwards, who has held the role since spring 2021. Johnson is the chief of staff and senior vice president of public policy and regulatory affairs at Methodist Le Bonheur Healthcare, and he has strong ties to U of M. He earned both his undergraduate and master's degrees from the institution — back when it was called Memphis State University — and was a recipient of its 2019 Distinguished Alumni Award.
He also steps into the role at a pivotal time for the university, which is looking to execute a five-year strategic plan that involves increasing enrollment, improving academic outcomes, expanding research activity, strengthening retention and recruitment efforts, focusing on operational efficiency, and effectively generating and stewarding more financial resources.
And he isn't the only person the board has appointed recently.
On Dec. 12, the board named longtime Fedex executive Rene Bustamante U of M's next executive vice president and chief operating officer/chief financial officer. He'll start on Jan. 2; and he replaces Raaj Kurapati, who became the executive vice chancellor and COO at the University of Tennessee Health Science Center over the summer.
“The breadth and depth of his knowledge on global financial matters as well as his extensive connections with the business community made him the ideal person for this key role on our executive team,” said U of M president Bill Hardgrave, in a press release. “I am confident he will be ready to hit the ground running on Day 1.”
Like Johnson, Bustamante is an alum of U of M, having earned both a bachelor's degree in business administration and a master's degree in economics from the university. He also has an MBA from George Washington University and he spent the early 1990s working as a consultant and analyst before embarking on a 29-year career with Fedex — where he climbed the ranks and became staff VP and assistant treasurer.
During his tenure, Bustamante directed and oversaw global corporate finance activities, which included financing over $1 billion of aircraft leases. And he helped establish the company's banking globally, in places like India, Africa, Argentina, Brazil and Mexico.