The University’s Board of Regents approved the creation of the “Master’s in Entrepreneurship” program, a collaborative effort between the College of Engineering and the Stephen M. Ross School of Business and the College of Engineering, at their monthly meeting on Thursday. The program will begin in Sept. 2012.

At the meeting, University President Mary Sue Coleman said the creation of the program is indicative of the increase in entrepreneurial initiatives around the nation, noting President Barack Obama’s announcement last month of the Advanced Manufacturing Partnership — an effort between the federal government and six universities that aims to develop more efficient methods of developing products and goods in the nation.

“This is a tremendous addition to the entrepreneurial climate flourishing across the University,” Coleman said. “I think this new degree is a perfect fit for students eager to develop new ventures, particularly with novel technologies.”

Coleman added that the new degree, which will receive oversight from a Faculty Director and a Program Executive Committee comprised of 2 members from each school, is fitting for a research institution like the University that is attempting to make advancements to curtail the difficult economic times plaguing the state.

“It dovetails with the innovation we are encouraging and nurturing,” Coleman said. “We know how important the inventions of research universities are to accelerating our state and national economy.”

Regents approve North Hall renovation project

The regents also unanimously voted to green light a $1.6 million renovation of North Hall.

The building, which is located on North University Avenue, houses the University’s Naval Reserve Officer Training Corps program and the Army and Air Force Reserve Officer Training Corps.

The plans include updating heating and cooling systems, as well as installing improved electrical, ventialiton and fire safety equipment. It also calls for the installation of storm windows to conserve energy in the building and the inclusion of a handicap-accessible main entrance and unisex bathrooms.

Department of Geological Sciences to bear new name

Effective Sept. 1, 2011, the University’s Department of Geological Sciences will be referred to as the Department of Earth and Environment, following unanimous approval by the regents.

At the meeting, University Provost Philip Hanlon said the name change was inspired by fluctuation in the curriculum that has progressively incorporated academic work and research from the environmental science field.

“This name change communicates to students the department’s rich, experiential learning opportunities and the preparation for versatile careers in industries, government and academia,” Hanlon said at the meeting.

Strong reappointed CEO of the University of Michigan Hospital and Health Centers

As per recommendation by Ora Pescovtiz, the University’s executive vice president for medical affairs, Doug Strong was reappointed as CEO of the Univeristy of Michigan Hospital and Health Centers.

Strong will embark upon his second 5-year term beginning August 1. In a July 21 University press release, Pescovitz lauded Strong for his 13 years of work at the health system and his role in helping to transform the program amid a difficult economic period in the state.

“His outstanding leadership and strategic vision have helped the Hospitals and Health Centers remain financially stable despite challenging economic times and unpredictable changes in the health care industry,” Pescovitz said. “Additionally, his steadfast dedication to improving quality and safety has led to consistent national recognition of UMHHC as a provider of high quality patient care services.”

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