CFO/Vice President of Administration and Finance Paul Davies to Retire in April

News Story categories: RMC Up Close
Paul Davies standing in front of Old Chapel

Randolph-Macon’s Chief Financial Officer and Vice President of Administration and Finance has announced his retirement, effective April 30, 2024. Paul Davies will conclude a 36-year career in higher education administration, which includes nearly 13 years at the helm of finance and administrative functions at Randolph-Macon.  

As the Cabinet officer supervising a broad range of functions that include the business office, IT, physical plant, human resources, and the campus store, Davies has had a critical role in the growth and success of Randolph-Macon. While RMC has had a long reputation for strong financial stewardship, Davies continued a discipline of balanced budgets that is now in its 44th consecutive year, even in the face of significant challenges. He partnered effectively with four committees of the Board of Trustees—Buildings & Grounds, Finance, Investments, and Audit—for a highly successful partnership between the administration and the Board that has resulted in clean audits and an A stable Standard & Poor’s debt rating for the College.  

Davies has overseen the construction and renovation of over $100 million in facilities. The most recent—Duke Hall—was constructed in under 12 months and just in time for our inaugural Physician Assistant Studies Program.  

In announcing his retirement, Randolph-Macon President Robert R. Lindgren lauded Davies’ ability to work with people, his effective advocacy in the community, his calm under pressure, and his infectious optimism.  

“He proudly displays his gifted nameplate on his desk, identifying him as our Chief Optimist,” Lindgren notes. “In the face of all of our challenges, he has always responded with creative solutions and Yellow Jacket Pride.” 

Lindgren also credited Davies’ critical role in innovative private college consortiums, which were helping RMC employees even before Davies arrived at the College in 2010. He served first as inaugural chair of a healthcare consortium that continues to save employees and independent colleges millions, and later as the first chair of a 403(b) retirement fund that has become a blueprint around the country.  

“My success is directly related to the support of my management team, dedicated employees working for me, my fellow Cabinet Members, Board of Trustees, and peers in the CICV who all believe so strongly in our mission to serve our students, faculty, and staff,” said Davies. “Most importantly, I’m grateful to have had my wife Karen by my side. Every day has been an honor to come to work and be part of such a strong community.” 

A native of New Jersey, Davies is a proud Tar Heel, where he played Division I lacrosse for UNC. After four years as a public accountant, he spent 17 years at Duke University, serving both their School of Medicine and the university at large. He then served as the CFO of Sweet Briar for 6 years before coming to RMC. 

Paul and his wife Karen plan to retire in Ashland and remain a part of the RMC family. After retirement, Paul plans on traveling, spending time hiking and sailing, before working to help other nonprofit organizations and pursue consulting.