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University of Iowa alum and longtime Iowa Board of Regents President Michael Richards is stepping down from his position after eight years.

Richards announced his departure Tuesday but will remain a regent until April 30, when he will resign his seat. President Pro Tem Sherry Bates is the interim Board President until the new leadership election is held at a future Board meeting.

“Serving as a member of the board has been a true honor and privilege,” Richards said in a statement on Tuesday. “I want to publicly thank Governor Reynolds and Governor Branstad who gave me the opportunity to serve in this important role.”

Richards was first appointed to the regents in May 2016 by then-Iowa Gov. Terry Branstad to fill the unexpired term of regent Mary Andringa. He was later elected as the 22nd regent president in May 2017.

Following his first election, Richards was re-elected as board president in 2018, 2020, and 2022. Additionally, Iowa Gov. Kim Reynolds reappointed him to the board in April 2021, as his term was originally set to expire that year. Richards’ most recent term was scheduled to expire on April 30, 2027.

In the statement, Richards thanked his fellow regents and board staff, public university staff, and presidents whom he worked with.

“I am extremely proud of all that we have accomplished over the past seven years. Our public universities are among the finest in the nation, and I have enjoyed the collaborative relationship to find ways to continue to improve,” he said in the statement. “I am making this announcement now to allow for a smooth transition in leadership, and to hopefully give Governor Reynolds ample time to find and name my replacement.”

UI President Barbara Wilson said in a statement that Richards has provided  consistent leadership for the regents.

“I am grateful for his strong advocacy on behalf of Iowa’s public universities as well as his friendship,” she said.

According to his regent biography, Richards graduated from the University of Iowa in 1970 earning his undergraduate bachelor’s degree. He earned his doctorate in medicine from the UI College of Medicine in 1974.

Following his graduation, Richards practiced medicine in Des Moines for over 20 years, serving as the first chief medical officer at Iowa Health System, more commonly known as UnityPoint Health.

Additionally, Richards was a managing partner of Quatro Composites, a carbon composite aerospace and medical equipment manufacturing company, until he retired in 2017.

Along with his doctoral work in the medical field, Richards served as chairman of the medical services and equipment company MEDTEC. He also served as the president of the Dowling Foundation and as a member of the Board and Executive Committee of the Minnesota Children’s Hospital in Minneapolis.