The board that oversees Iowa's public universities has new leadership. The Iowa Board of Regents picked Michael Richards as it's new president. Richards is vice chairman and managing partner of Quatro Composites in Orange City. He also serves as vice chairman of Wild Rose Entertainment. Patricia Cownie was elected the board's president pro-temp. She previously served on the boards of the Des Moines Opera, the Mercy Hospital Foundation, the Des Moines Arts Festival and the Des Moines Civic Center. Richards and Cownie start in their new roles immediately, with terms that expire at the end of April, 2018. Former Regents president Bruce Rastetter did not seek another term on the board.