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He didn’t get the top job at Colorado State University, so DU made a position for him.

Marc Holtzman was announced Thursday as DU’s new president.

CSU bypassed Holtzman for the school’s presidency, even though Gov. Bill Owens endorsed him.

Ritchie then offered Holtzman DU’s presidency April 22 and the 24-board of trustees unanimously approved.

The Colorado Secretary of Technology will jointly run the university with Chancellor Dan Ritchie.

The newly-created position does not mean Ritchie will step down from the highest leadership position at DU.

This is the first time in DU’s 139-year history that the school will have a president. The last major change happened 14 years ago when the DU Board of Trustees fired the previous chancellor and hired Ritchie.

Ritchie and Holtzman explained the duties of the president.

Holtzman said he will raise the profile of the university, be the chief point of advocacy and help provide more resources for the university. He also plans to expand the international programs and develop partnerships with technology companies.

“My goals and objectives are to support the efforts of what’s already a good institution and make it better,” Holtzman said.

The responsibilities and authority of provost, deans and vice chancellor will go unchanged, Ritchie said. Holtzman will not be in charge of academics, but rather work with all departments to improve the school.

Holtzman will resign from his current state job June 30. Before moving to Colorado, he gained recognition for helping the economies of Eastern Europe and the former Soviet Union become market oriented. He made millions as an investment banker after of the fall of the Iron Curtain.

Holtzman has no background in academics or education. He hold’s a bachelor’s degree in economics from Hehigh University in Pennsylvania. Ritchie said he was the most qualified person for the job.