Update: December 5, 2013, 5:05 p.m.
The University of Missouri-Columbia has a new chancellor.
Former President of Texas A&M R. Bowen Loftin is taking over the duties of retired Chancellor Brady Deaton.
Loftin said Missouri was the perfect fit for his future plans.
The 64-year-old took the job as Mizzou Chancellor Thursday after stepping down as Texas A&M University??s President in July. Loftin said he planned to remain in College Station to direct an academic institute focused on homeland defense, but Mizzou made him an offer he couldn??t refuse.
Loftin said, ??I had to do some soul searching with my wife??s help. We thought through this. We felt this was a good way that would still keep my engagement with a lot of students.??
University President Tim Wolfe said members of a search committee chose Loftin from 3 finalists. Wolfe said his experience at Texas A&M University made him the perfect choice.
Wolfe said, ??We were looking for somebody that really had a deep understanding and a personal appreciation of a public land grant institution and the mission and responsibility it plays in the state, nationally and on the global stage.??
Governor Jay Nixon met briefly with the new chancellor and said he looks forward to working with Loftin.
Nixon said, ??He has proven experience. He will come into the job and not require any sort of ramping up. I expect he will be a very positive and solid as he moves forward with the University of Missouri System.??
Loftin and his wife Karin will live in the chancellor??s residence on campus.
Loftin said he plans to be Mizzou??s chancellor for at least the next 5 years and hopefully longer. He officially starts his new job on February 1 with an annual salary of $450,000.
Loftin did not sign a contract.
He is under at-will employment agreement.
That means Loftin has no guaranteed length of employment or buyout provisions.
A Texan who led one of the country's largest universities has been hired as the University of Missouri's new chancellor.
R. Bowen Loftin, former president of Texas A&M, succeeds Brady Deaton, who retired in November after overseeing the Columbia campus since 2004.
Missouri announced his hiring Thursday.
The 64-year-old Loftin stepped down as Texas A&M University's president in July after leading his alma mater for four years. He had planned to remain in College Station to direct an academic institute focused on homeland defense.
Loftin earned his doctorate from Rice University and spent four years as the vice president and chief executive officer of Texas A&M's branch campus in Galveston.
Texas A&M and Missouri both joined the Southeastern Conference in 2012 after leaving the Big 12 Conference together.
The Associated Press contributed to this story.