AKRON, Ohio - Scott Scarborough, the new president of the University of Akron, said he gained instant credibility with his 26-year-old son – not for being tapped to lead an institution, but because he was mentioned on ESPN.

“I’m cool again,” he said to laughter, in reference to a question regarding how he felt competing against former Ohio State University football coach Jim Tressel for the job.

“But in addition to being a strong candidate you have to be a strong fit and I believe that both boards did their institution a great service by picking the candidate who is the best fit,” he said.

Scarborough, named president on Thursday, appeared at a public reception Monday. He said he is the first to admit that he never expected to reach the pinnacle of a university.

“My career began on the financial side,” said Scarborough, 51, who, received his undergraduate degree in accounting, an MBA and a doctorate in strategic management.

Much of his early career was in financial management and he came to the University of Toledo in in 2007 as senior vice president for finance and administration. He was named senior vice president and executive director of the University of Toledo Medical Center in 2010.

“It was a most unexpected turn to come back to the main campus to be provost, he said of being named provost and executive vice president for academic affairs at UT in 2012. “I had academic credentials and taught but never dreamed of serving a university as its chief academic officer.”

His financial and management expertise were cited as the main reason he stood out among the finalists, UA trustee chairman Richard Pogue said Monday. The university has been battling budget issues.

“He has great financial acumen, a strategic vision and management experience,” Pogue said. “He will be nimble and be responsive to the challenges we face.”

Scarborough said in his first 100 days he plans to meet all the people who deeply care about the institution and listen to their views. He wants to meet the senior staff, build a team around him and understand the financial issues facing the university.

He will receive a five year contract at UA and his initial salary is $450,000 a year. He will be eligible for an annual performance bonus of up to $80,000, be provided a home, an automobile stipend and club memberships. He will also have annual deferred compensation of $80,000.

He will move to Akron with his wife, Tammy, their six-year-old daughter and his in-laws.

That caregiving arrangement allows Tammy Scarborough to pursue her career. She will leave her position as chief financial officer of the University of Toledo Physicians Group, which manages the faculty practice plan for 270 physicians, and look for a job in northeast Ohio.

While at University of Toledo Scarborough directed the development of UT's new strategic plan, Imagine 2017, and organized a system of "portal colleges" designed to meet the needs of well-prepared, prepared and underprepared, adult, online and graduate and advanced professional students. He also led the rebranding of Jesup Scott Honors College and created YouCollege to improve the performance and completion rates of underprepared students.

Scarborough said he would evaluate all positions at the university and did not know if he would fill the position left vacant by Tressel, who was executive vice president for student success.

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