Texas comptroller tapped to lead A&M university system

Glenn Hegar, who has served as Texas' elected state comptroller for 10 years, will head a major university system in the state.

The Texas A&M University System announced Friday that Hegar was unanimously chosen by its board of regents as the sole finalist for chancellor to succeed John Sharp, who is stepping down on June 30 and who served as Texas comptroller in the 1990s.

"The board is confident that Glenn Hegar is ready to usher in the next era of excellence at The Texas A&M University System," Bill Mahomes, board of regents chairman, said in a statement. "Hegar grasps the unique breadth and depth of the system's impact on every corner of Texas through its eight state agencies and 11 universities."

In a post on the X platform, Hegar said he is committed to working with the board, faculty, staff, and students "to build on the system's legacy of excellence and ensure that we become the premier collection of higher education institutions and agencies in the world."

As state comptroller, Hegar serves as the treasurer, tax collector, procurement officer, and revenue estimator for the triple-A-rated state.

He was also tasked with determining which companies "boycott" the fossil fuel industry under a 2021 law that prohibits state and local government contracts, including those for municipal bond underwriting, with entities that ended up on his boycotters list, which is also used for divestment purposes.

The comptroller, along with Texas Attorney General Ken Paxton, are defendants in a lawsuit filed in federal court by a business group last year challenging the law's constitutionality.

Hegar, a former state lawmaker and 1993 graduate of Texas A&M, was first elected the state's 36th comptroller of public accounts in November 2014 and was reelected in 2018 and 2022.

Under state law, the governor appoints a replacement, who would serve until the winner of the 2026 general election takes office.

The A&M System, which has a budget of $7.3 billion, had $4.89 billion of outstanding bonds as of Aug. 31, according to its fiscal 2024 annual financial report.

Nearly $427.4 million of revenue system financing bonds sold last year were rated triple-A by Moody's Ratings, KBRA, Fitch Ratings, and S&P Global Ratings.