ANN ARBOR—Farris W. Womack, professor of education and former executive vice president and chief financial officer at the University of Michigan, has announced that he will retire from the University, effective Feb. 28, 1998.

Womack has requested and received a substitute agreement for his existing contract with the University. He will enter into his faculty retirement furlough on

“Ann and I have enjoyed our years at Michigan and look forward to the next chapter of our lives,” Womack said. “There are a great many things left for us to do, and we are eager to pursue other interests.”

U-M President Lee C. Bollinger said, “I have the utmost respect for Farris Womack. His financial acumen and leadership in higher education are legendary. Thanks to his splendid leadership, the U-M is recognized as one of the most financially sound universities in the United States.

“I wish Farris well in his future pursuits, and thank him for his years of service to the University.”

Womack stepped down as U-M’s executive vice president and chief financial officer on Dec. 31, 1996. Before coming to Michigan in 1989, he served, at the personal request of the governor, as controller of the state of North Carolina. He was at the same time the vice chancellor for business and finance at the University of North Carolina at Chapel Hill.

Womack received his doctoral degree in administration from the University of Arkansas in 1972. He served as a professor of education at both the University of North Carolina at Chapel Hill and the University of Arkansas.