URBANA, Ill. — A program operating within the University of Illinois Urbana-Champaign that assists farmers with financial management and decision-making welcomes a new CEO this August, while also celebrating a monumental milestone in their history.

Illinois Farm Business Farm Management is a cooperative educational service program that began as a University of Illinois Extension project in the 1920s. It is now fully supported by fees from farmer members. Today, FBFM cooperates with the Department of Agricultural and Consumer Economics, College of Agricultural, Consumer and Environmental Sciences, and Illinois Extension, providing members with resources and services related to financial and production business reporting and analysis, counseling on decisions, and income tax preparation and management.

The program welcomes Scott Newport as the new CEO this August. With 35 years of experience serving cooperators, most recently as FBFM regional vice president, Newport brings a strong foundation to the role.

“I’m honored to be given the opportunity to lead such a great organization,” Newport said in a recent press release from FBFM. “I look forward to working with a very talented staff to build on our strong foundation driving continued success and innovation to benefit members of FBFM.”

Newport’s transition into the role comes after previous CEO Bob Rhea’s retirement. During Rhea’s 40-year career at FBFM — the past five spent as CEO — he provided invaluable leadership and dedication to the program and its members.

Read the full release from the College of ACES.