During a special meeting of the Board of Visitors held on August 4, Catherine Lindqvist, executive director of the U.Va. Executive Search Group — the University’s internal office that manages senior-level hiring — announced that they are in the process of retaining an external search firm to assist with picking the University’s 10th president.
Lindqvist explained to the Board that the external search firm may take anywhere from four to six months to present its recommendations.
University Spokesperson Bethanie Glover confirmed that the University is still in the process of selecting a firm.
“The search firm, once selected, will assist the Board of Visitors, the University's Executive Search Group and the Special Committee on the Nomination of a President in managing the search and identifying candidates from across the nation for the committee to consider, in addition to the input collected in listening sessions and nominations,” Glover said.
External search firms are often retained by universities to identify and recruit candidates for top leadership positions. These firms bring national networks, experience vetting applicants and the ability to approach candidates who may not be actively seeking a new role. They can also help manage a confidential search process and ensure the search committee has a diverse pool of applicants to consider.
This is not the first time the University has retained an external firm to select a new University president. Both former University presidents, Teresa Sullivan and Jim Ryan, were chosen with the help of external search firms.
In 2009, following the retirement of former University President John T. Casteen III, the University hired R. William Funk & Associates, a higher education search firm based in Dallas, to lead the search that resulted in the hiring of Sullivan.
A representative from R. William Funk & Associates told The Cavalier Daily that the firm would not be commenting on the current search. However, the firm said they would welcome the opportunity to be involved in the process.
According to a document the firm provided to The Cavalier Daily, if retained, they would be available to meet with the Board and search committee immediately. The firm also pledged not to begin another presidential search until the University’s candidate pool is finalized and offers a two-year guarantee to redo the search with no additional retainer should the selected president leave early.
The document states that Funk & Associates typically charges a retainer equal to one-third of the University president’s estimated annual salary, a payment structure which is common among executive search firms in higher education. As of July 1, 2024, former University President Jim Ryan held an annual salary of $1.1 million, which would place the retainer at over $350,000. The firm said it is also open to negotiating a fixed-fee arrangement.
Eight years after Funk & Associates helped select former University President Teresa Sullivan, the University retained Boston-based executive search firm Isaacson, Miller in 2017 to aid in the process of selecting a successor for Sullivan. That search ultimately led to the hiring of Ryan. Isaacson, Miller did not respond to a request for comment regarding the University’s current search.
A copy of that contract, obtained through the University’s public contract portal, shows the firm used the same one-third retainer model, based on the hired candidate’s total first-year compensation, with a minimum fee of $50,000.
A past search contract from Isaacson, Miller includes a sample work plan that offers insight into how the current process may unfold. The plan outlines a multi-stage approach that begins with launch and scoping meetings, where the firm meets with the Board and other stakeholders to set goals, discuss challenges and define the profile of the ideal candidate.
At this early stage, the search committee appointed by the Board is not yet involved. The committee becomes active once the firm finalizes a public job description and begins networking and candidate screening, at which point the committee receives regular progress reports and provides feedback on potential candidates.
The search committee’s most substantial role comes later in the process. After the firm presents an initial pool of prospects and conducts preliminary interviews, the search committee decides which candidates to advance. The search committee then spends multiple days interviewing semi-finalists, while the firm handles detailed reference checks.
Finalists typically visit Grounds for public events and a second round of interviews with senior staff and the search committee.
The process concludes with the Board’s final selection, followed by negotiations and acceptance. A sample timetable from the contract shows this work spanning roughly 24 weeks, about six months, from the first meeting to the final offer and onboarding. This timeline is consistent with Lindqvist’s estimate.
According to the University’s public contract portal, the University currently has active agreements with more than 20 executive search firms, including Funk & Associates and Isaacson, Miller, which it could choose from for the current search.
In addition to the recruitment work handled by the search firm, the process will be guided by the special committee on the nomination of a president, a group of students, faculty, staff, alumni and Board of Visitors members that was announced in July.
The committee is tasked with gathering input from across the University community through listening sessions, town halls and an online feedback form, and will use that input alongside the firm’s candidate pool to recommend finalists to the Board.
Interim President Paul G. Mahoney, who was appointed by the Board in August, is expected to serve throughout the search process until a permanent successor is named.
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