Michael Grandchamp named vice president for operations/chief financial officer
Michael Grandchamp, who has served in Salve Regina’s business office for 35 years, most recently as associate vice president for finance/controller, has been appointed by Dr. Kelli J. Armstrong, president of Salve Regina, to become the University’s new vice president for operations/chief financial officer. He will succeed his longtime friend and colleague, William Hall, who is retiring as vice president for administration/CFO on June 24.
“I could not be more appreciative that Dr. Armstrong has the faith in me to lead our team into the future,” Grandchamp said. “It is my charge to use all experiences gained over my tenure and continue to build collaborative relationships to help the University navigate the myriad of challenges that face all small independent colleges and universities. My every day focus is to ensure our institution remains financially viable and vibrant for all our students, faculty, and staff well into the future.”
Grandchamp’s tenure at Salve Regina started in 1987 when he was hired by Hall as controller after both had worked together previously at Arthur Young & Co., one of the Big Eight accounting firms at the time. Over the course of the last three decades, Grandchamp has supervised clean audits of the University, has directly managed the business office, payroll, purchasing and mail services, and has taken over supervision of the Office of Information Technology.
“Mike is the consummate professional who lives and breathes the University’s budget,” Hall said. “He will bring a vast amount of University history to the role, but more importantly he will use that history to aid the president and the cabinet in taking the University to the next level financially, academically and reputationally.”
During the last 35 years under the financial leadership of Hall and Grandchamp, Salve Regina’s endowment has grown from under $1 million to over $80 million, Grandchamp pointed out. Over the last 25 years alone, more than $200 million has been invested in Salve Regina’s campus for new building, renovation, technology and equipment. Operationally, the University offers more than $45 million in institutionally funded aid to students to help meet their financial needs.
“Simply stated, the University’s finances are on the most stable footing in its history,” said Grandchamp. “It is certainly poised to navigate the headwinds facing small independent colleges and universities.”
In light of these accomplishments, Dr. Armstrong expressed her gratitude for Grandchamp’s time at Salve Regina and her confidence in his abilities to steer the University into the future.
“Mike is a wonderful blend of financial talent with high emotional intelligence,” said Dr. Armstrong. “He firmly believes in our mission at Salve and is constantly looking for ways to create possibilities for us to achieve our goals. I think he will be a wonderful leader in this role of expanded responsibility and am grateful for his superb stewardship of Salve’s resources.”
Grandchamp also serves as an adjunct professor in Salve’s business studies program. “At my core, I am a teacher who masquerades as a finance person,” he said. “I have the acumen for finance, but my passion is to teach,” he said. “I found my time in the classroom most rewarding not so much from subject matter instruction but meeting students where they are at, helping them develop to a better place and hopefully impacting their lives in a positive way. It also helps to keep me grounded in my day job as a reminder of our mission and gives me a deeper appreciation of the importance of our faculty and what they provide daily.”
An animal lover and advocate, Grandchamp has been an active board member for the Potter League for Animals since 2013.
“My wife Lisa encouraged me to serve as a board member as it was a way to impact a larger number of animals – there are only so many we can adopt. I find nothing more personally rewarding than serving this organization whose mission is to give voice to the voiceless and advocate tirelessly for all animals.”
Grandchamp lives in Portsmouth with his wife Lisa, and they are the proud parents of three adult daughters: Karissa, Jessica and Katie. They also share their home with Tucker, their adopted coonhound mix. For fun, he can be found exploring with Tucker all over Aquidneck Island. He also enjoys gardening and cooking for anyone who would like to partake in a meal. Lastly, he enjoys rooting for all the New England sports teams: the Patriots, Red Sox, Bruins and Celtics.
“I have been blessed to call Salve Regina University home for the last 35 years,” he said. “I consider all who I’ve worked with here – past and present – as my extended family. Words cannot describe the gratitude I feel towards Bill Hall and the 35-plus-year partnership we continue to enjoy. There have been very few individuals more impactful to the current state and the future of our university.”