FAYETTEVILLE — The executive director of the Razorback Foundation will leave his post next month.
Scott Varady, who has led the Razorbacks’ fundraising arm since December 2015, has been hired to be the University of Arkansas’ vice chancellor of the advancement division. Billye Veteto, who has been the foundation’s chief financial officer since 2011, will become the interim director of the foundation on April 17.
A search committee has been formed by the Razorback Foundation’s board of directors to conduct a search for Varady’s replacement, according to a press release.
“During some challenging times, Scott provided transformative leadership in building an outstanding team of fundraising professionals who helped the Razorback Foundation become a full-menu fundraising organization, successfully cultivated hundreds of friends and volunteers, and raised millions of dollars in private gift support benefiting Razorback student-athletes, athletics programs and facilities,” UA chancellor Charles Robinson said. “His deep friendships in the state and his understanding of the university landscape make him ideally suited to step into this significant role at this pivotal time.”
Before joining the foundation, Varady spent 19 years as UA general counsel. He worked for law firms in Washington D.C. and Little Rock, and was a staff member for former U.S. Senator Dale Bumpers before returning to Fayetteville in 1996.
Varady, a Little Rock native, received a bachelor's degree from the UA in 1985 and received two degrees from Georgetown University.
Veteto is a Farmington native who graduated from the UA in 1999.
“It is my honor to take the helm of the Razorback Foundation,” Veteto said in a press release. “I will continue to lead on the interim basis while a search for a permanent replacement is underway and look forward to continuing our important work for Razorback Athletics and more than 10,000 members.”
Varady said in a statement that Veteto would be "an excellent resource" for foundation members.
“I personally thank all of our Foundation members, the amazing professionals who work at the Razorback Foundation each day, and our Board of Directors, as well as Hunter Yurachek and Razorback Athletics for their help along the way," Varady said. "I look forward to the continued success of Razorback Athletics and the Razorback Foundation. I am confident that Billye and our professional staff will continue to achieve new heights and enjoy tremendous success with the loyal support of our amazing members.”
CORRECTION: Billye Veteto's title was listed incorrectly in an earlier version of this story. It has been corrected.