EDMONTON -- The University of Alberta officially installed its 14th president Wednesday.

William Flanagan takes on the role during turbulent times financially and academically at the U of A.

“There is a major financial challenge facing the University with very significant cuts to our budget this year and the next two years. We know we can drive tens of millions of dollars in savings if we are successful in achieving the type of transformation we are aiming for.”

One of the major areas that is being looked at is the faculty structure. There are currently 18 faculties.

“We know that drives a lot of costs and inefficiencies so we are embarking on an intensive consultation process and should have, in about a week, some proposals for potential amalgamations of faculties."

Born and raised in Alberta, Flanagan is coming from Queens University where he served as dean of law from 2005 to 2019.

He is currently the chair of the Canadian Foundation for AIDS Research Group.