Longtime NU regent Bob Phares has said he won't seek a fourth term in 2022.
Phares, who represents western Nebraska, said serving on the board of the University of Nebraska was one of the greatest honors of his life.
Currently vice chairman of the board, Phares said he has worked to keep tuition affordable, draw bright students to the university and create synergy with business in a way that grows the state's economy.
He has been on the board for 15 years, and during that time, annual tuition increases have dropped from 8% to 3.5%, giving NU the lowest in-state tuition of Big Ten schools.
Phares was elected mayor of North Platte at age 28. He was president and owner of Phares Financial Services, Inc., a financial planning and insurance firm in North Platte. He's now semi-retired, with his son serving as the firm's president.