Top Penn State finance executive announces retirement after 8 years
Penn State Senior Vice President of Finance and Business David Gray is set to retire this August, according to a Penn State News release.
Gray, who is also the treasurer for Penn State, has held his current role at the university since 2012. He is responsible for overseeing Penn State’s financial performance and operating budget of $6.8 billion for the 2019-20 fiscal year. In addition, he leads financial, endowment management, business and administrative activities at all Penn State campuses.
He serves on the President’s Council, the board of directors for the Corporation for Penn State and the Penn State Health board of directors and chairs the Penn State Investment Council.
“It has been an honor and privilege to serve my alma mater these past eight years,” Gray said in a press release. “We have made tremendous progress as an institution over that time span, and I am proud of what we have been able to accomplish. There is much unfinished work in front of us, but I know that Penn State is in good hands moving forward.”
Gray received a bachelor’s degree in political science and a master’s degree in public administration from Penn State.
Penn State plans to conduct a national search for Gray’s replacement.
“David’s leadership and dedication have been invaluable in making sure the University is a responsible steward of its fiscal resources. His efforts have helped to further strengthen Penn State’s financial footing as the University plans and prepares for the challenges of the future,” said Penn State President Eric Barron in a release.
Gray’s accomplishments include leading the launch of an effort to replace outdated computing systems with modern solutions, like Penn State’s information system LionPATH, its human resources and payroll management system WorkLion and the new budgeting and financial information system System for Integrated Management, Budgeting and Accounting or SIMBA.
Additionally, Gray was active in Penn State’s sustainability efforts, including the reduction of the university’s greenhouse gas emissions 35% by 2020 and the university’s solar energy project in Franklin County, which will supply 25% of the system’s electricity.
Prior to coming to Penn State, Gray served in executive administration roles at the University of Massachusetts and its online campus. He also served as vice chancellor for information technology for the Pennsylvania State System of Higher Education from 1995 to 2000 and as assistant vice chancellor for financial management from 1990 to 1995.
Gray and his wife, Centre County administrator Margaret Gray, donated $210,000 last year toward the first graduate scholarship in Penn State’s new master of public policy program. Both are graduates of the Penn State master of public administration program, now offered through Penn State Harrisburg.
This September, Gray was one of two top Penn State executives to receive a 2.5% salary increase. He earns $537,372 annually, making him one of the five highest paid officers and directors at Penn State, and one of 25 highest paid employees at the university overall.
This story was originally published December 20, 2019 at 11:38 AM.
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