Apr. 1, 2021: Selection of senior vice president and chief financial officer


I am pleased to announce the selection of Lisa Frace as Michigan State University’s first senior vice president and chief financial officer.

You may recall in September I shared information about the restructuring of many of the university’s administrative functions. Among those plans was the creation of the CFO position to manage our ongoing financial progress, develop a comprehensive long-range financial plan and ensure institutional resources are used effectively. This position was established with the resources available due to Melissa Woo serving as both executive vice president for administration and chief information officer.

Lisa has more than 15 years of higher education finance experience at tier-one research universities. In these roles, she has led the fundamental transformation of business practices and processes with an emphasis on modernization and aligning resources to a university’s priorities. In particular, while at Arizona State University, she helped the school restructure its budget following a 52 percent per student cut in funding due to the 2008 recession.  

Also, Lisa is a national leader in higher education finance. She currently serves as a board member of both the National Association of College and University Business Officers and their western region. She is a champion for professional development in the field specifically focusing on diverse viewpoints and voices. In 2017, Lisa received the association’s Rising Star Award which recognizes outstanding professionals with high potential to succeed as executives and business officers in higher education.  

When Lisa begins on May 10, Dave Byelich, vice president for planning and budgets, and Mark Haas, vice president for finance, will report to her. Lisa’s appointment is pending approval by the Board of Trustees at its April meeting.

I appreciate the efforts of Melissa Woo and Mike Zeig, chief of staff to the president, in leading the search process as well as the dedication of the search committee members who represented faculty, staff, students and alumni.

Please join me in welcoming Lisa to MSU.

Samuel L. Stanley Jr., M.D.