September 22, 2003
September 22, 2003
LANSING – Governor Jennifer M. Granholm today announced the appointment of Robert A. Bowman as chair of the Michigan Education Trust (MET) Board of Directors. Bowman, former State of Michigan treasurer from 1983-1991, played an instrumental role in the 1988 formation of the MET.
“Having a chairperson so significant to the past of the Michigan Education Trust will certainly do well to facilitate its future,” said Granholm. “Bob’s substantial knowledge and know-how will serve as a starting block for a new chapter in securing higher education for the children of Michigan.”
Bowman is a 1977 graduate of Harvard and received an MBA from The Wharton School in 1979. While operating as treasurer for Michigan, Bowman was the sole fiduciary of the state pension system which tripled under his administration. After serving the State of Michigan as treasurer, he acted as CFO at ITT Corporation until 1995 and president from 1995 until 1998. At present, Bowman is the CEO of Major League Baseball Advanced Media which manages the interactive and Internet rights for the league.
Bowman will replace Jay Rising as chairperson.
Also announced today are the appointments of Central Michigan University President Michael Rao and Lansing Community College President Paula Cunningham to the MET Board of Directors.
Paula Cunningham, of Lansing, is president of Lansing Community College. She is replacing Dr. Marsi Liddell who resigned. Cunningham is appointed to represent community colleges for a term expiring December 31, 2003.
Michael Rao, of Mt. Pleasant, is president of Central Michigan University. He is replacing Dr. William Sederburg who resigned. Rao is appointed to represent four-year public colleges and universities for a term expiring December 31, 2003.
“These three champions for higher education will help to provide an avenue for families in Michigan to invest in their children’s future,” Granholm said. “They will help to ensure that higher education is accessible and affordable.”
The MET creates a way for families to invest in their children’s future ability to attend a Michigan institution of higher education. When you invest a fixed amount, it creates a reserve that will grow in value over the years until admission to college.
The MET focuses on protecting Michigan families from increasing tuition costs by providing wide and affordable access to state institutions. They also encourage elementary and secondary school students to achieve high standards of excellence so they can attend schools of higher education.
These appointments are subject to advice and consent of the Senate.
