WPI plucks new CFO from Illinois Institute of Technology

Photo | Courtesy of Worcester Polytechnic Institute WPI Executive Vice President and Chief Financial Officer Michael Horan

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By Monica Benevides

Worcester Polytechnic Institute announced on Tuesday it has named Michael Horan as its new chief financial officer.

Horan, who is currently vice president for finance, CFO and treasurer at Illinois Institute of Technology, will replace Jeffrey Solomon, who is retiring from WPI after working at the school for 16 years.

Horan will report directly to WPI President Laurie Leshin, and will oversee a team in charge of accounting, finance, financial planning and analysis, operations, campus facilities and planning, campus police and information technology.

He will also serve as the school’s chief investment officer, per the announcement. WPI has an endowment of $506 million, which is the second largest among Central Massachusetts colleges after the $760-million endowment at the College of the Holy Cross in Worcester.

“His progressive experience in business, finance, and operations will be particularly valuable as we continue to manage through the pandemic, evolve our distinctive approach to education and research and respond to dynamic pressures on higher education, most critically the needs and expectations of students and their families for access, affordability, and long-term relevance of the education and experiences WPI provides,” Leshin said in a statement.

Horan, a certified public accountant, holds a doctorate in higher education administration from the University of Georgia, as well as a master of business administration from the University of Connecticut and a bachelor’s degree in business from Fort Lewis College in Colorado.