University's Finance Chief Leaving After 20 Months

Karol Kain Gray is leaving Chapel Hill after 20 months as UNC’s vice chancellor for finance and administration.

Gray, who spent 33 years in financial, organizational and management work at Stony Brook University in New York before coming to Carolina, has been named chief financial officer of Applied DNA Sciences Inc., a New York-based company that provides botanical DNA-based anti-counterfeiting technology and product authentication solutions. She is a former member of its board of directors.

Since December 2011, Gray has served as Carolina’s principal finance and business officer, overseeing the University’s budget and helping navigate several years of reductions in state funding.

In 2011, Gray was named one of Long Island’s Top 50 Most Influential Women in Business.

Her departure continues extensive change at the top of UNC’s administration. The University currently is searching for a vice chancellor for development, the top fundraising position, and for a vice chancellor for communications, a new position.

Three other top leaders are in relatively new jobs at Carolina: Chancellor Carol Folt took office July 1 along with Executive Vice Chancellor and Provost James W. Dean Jr. and Vice Chancellor for Information Technology and Chief Information Officer Chris Kielt. Folt spent 30 years at Dartmouth College, where she was serving as interim president when she was selected as UNC’s 11th chancellor. Dean, a longtime faculty member at UNC, most recently was dean of Kenan-Flagler Business School. Kielt came to UNC last fall as associate vice chancellor for administrative systems and business transformation from Stony Brook University, where he had been the chief information officer.

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