The board of trustees for Oakland University in Michigan has tapped the senior vice president and U.S. medical leader for Lilly Bio-Medicines at Eli Lilly and Co. (NYSE: LLY) to become the university's new president. Ora Hirsch Pescovitz will begin her new role in July.

Pescovitz has a strong history in the academic world, serving in a variety of roles at with Indiana University over a period of more than two decades, including executive associate dean for research affairs at the IU School of Medicine. She also served as president and chief executive officer of Riley Hospital for Children at IU Health.

Before joining Lilly, Pescovitz served as CEO of the University of Michigan Health System and executive vice president for medical affairs at the university.

"Dr. Pescovitz has the ability to foster and guide the university toward a bright future given her expansive experience and leadership positions, coupled with her broad vision for OU," said Ric DeVore, chair of the OU Board of Trustees. "Based on her performance throughout the entire interview process and the open forum with the campus community, she emerged as the right leader at the right time who can continue the development of academic excellence at Oakland University, as well as lead the garnering of additional fiscal resources."

Pescovitz will become Oakland University's seventh president, succeeding George Hynd, who the university says is completing a three-year term.

"As I went through the presidential search process, I was impressed by the students, faculty, staff and Board and realized that that this was the right next step for me both professionally and personally," said Pescovitz. "I am eager to join OU and share the knowledge, insights and life experiences I have accumulated during my career as we work to maximize our potential for the benefit of the campus community and, in particular, the students."

The university says Pescovitz plans to establish a scholarship fund at to support students.