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September 26, 1996

3 business/finance administrators leave University, 4th to follow in late October

Three key members of Pitt's business and finance staff left the University this month, and a fourth will resign at the end of October.

Gary T. Warchock, director of Central Business Services, resigned Sept. 9 and left Pitt that day. Likewise, L. Thomas Hussey, associate vice chancellor for Facilities Management, resigned Sept. 13, which was his last day on the job.

Director of Finance and Assistant Treasurer Charles M. Stunkard resigned Sept. 13 to become vice president of Wilshire Associates, Inc., a Santa Monica, Calif.-based investment firm that has its sales office in Pittsburgh.

Stunkard's former boss, Controller and Assistant Treasurer William G. Laird, announced last week that he will leave Pitt to become assistant vice president for finance at Carnegie Mellon University, starting Nov. 1. Laird's last day at Pitt will be Oct. 31.

Hussey declined to comment, and Warchock did not return telephone calls from the University Times.

Assistant Chancellor Jerome Cochran, who supervised Hussey and who supervises Warchock's former boss, Associate Vice Chancellor for Business John C. DeVitto, declined to comment, telling the Times that he makes it a policy not to talk to the news media about personnel moves. "I view changes in individuals' employment status as personnel matters and as personal matters," Cochran said.

In a Sept. 13 memo to Pitt deans, directors, department chairpersons and regional campus presidents announcing Hussey's departure, Cochran noted that Hussey had been associate vice chancellor since July 1, 1989. Cochran wrote: "The University of Pittsburgh is grateful for the dedicated service Tom has provided during the last seven years. I am certain that you join me in wishing Tom the best during the years ahead." Hussey's responsibilities included planning, construction, operations and maintenance of Pitt education and general buildings in Oakland, plus capital investments at the regional campuses.

Facilities Planning Director Ana Guzman will serve as interim associate vice chancellor for Facilities Management. "I am confident that Ana's professional skills and long service to the University of Pittsburgh will enable her to provide outstanding leadership to our Facilities Management Division," Cochran wrote.

Pitt's administration does not plan to appoint an interim replacement for Warchock but will retain the position of Central Business Services director, Cochran said. Central Business Services operates auxiliary services such as printing, photocopying and the motor pool.

Finding permanent replacements for Warchock and Hussey will wait until Coopers & Lybrand Consulting has completed its analysis of Pitt administrative efficiency, Cochran said. The consultants are expected to present at least a draft of their report to the Chancellor's office prior to the next Board of Trustees meeting on Oct. 24.

Stunkard had been responsible for investing Pitt's endowment and operating funds, and for the Cashier's office. In a written statement, Laird said of Stunkard: "Under Charley, the University's endowment performance was consistently among the top performers in the country. During the fiscal year that ended June 30, 1996, Pitt's endowment returns were 18.6 percent. Average returns over the last three and five years were 12.8 percent and 13.7 percent, respectively, and consistently ranked in the top quartile of comparable investment performers.

"When Charley started [at Pitt] in 1989, the endowment was $260 million; today it is valued in excess of $500 million." Finance office staff member Marlin Pease will assume Stunkard's responsibilities, said Interim Vice Chancellor for Finance Art Ramicone.

Laird started at Pitt in February 1986 as the chief financial officer for the psychiatry department. He was named Pitt controller in 1992 and became controller and assistant treasurer last February.

Laird's responsibility area includes 130 employees and the following operations: Office of Finance, Payroll and Taxation, Cashier's office, Financial Reporting and Control, Oracle Systems Financial Project, Research Accounting, Accounts Payable, Invoice Audit, Service and Records, Cost Accounting and Indirect Cost, Asset Management, and Space Accounting.

An interim replacement for Laird will be announced in early October, Ramicone said.

— Bruce Steele

Filed under: Feature,Volume 29 Issue 3

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