11/17/2003

The executive committee of the University of Nebraska Board of Regents has authorized Board Chairman Randy Ferlic to complete negotiations with Korn/Ferry International, a firm that specializes in executive recruitment, to assist the presidential search committee which will name candidates to succeed President L. Dennis Smith. The action was taken during an emergency telephone conference meeting today.

After considering a number of search consulting firms, the executive committee narrowed to three the list for consideration at today’s meeting. The two other firms considered were Heidrick & Struggles, and A.T. Kearney. Representatives of all three firms were interviewed recently by executive committee members and Keith Olsen, president of the Nebraska Farm Bureau Federation, who co-chairs the presidential search committee with Ferlic.

All three executive committee members who participated in today’s meeting – regents Don Blank, Kent Schroeder, and Ferlic– voted in favor of Korn/Ferry. The fourth member of the executive committee, Student Regent Casey Johnston of the University of Nebraska Medical Center, did not participate in today’s meeting. Olsen also voiced support for the selection of the firm.

In taking its action, the executive committee authorized Ferlic to negotiate contractual arrangements with Korn/Ferry, including the fees to be paid to the firm for its services.

Once those negotiations are complete, an emergency telephone conference meeting of the full Board of Regents will be called to take action on the executive committee’s recommendation.