A faculty procession and a sense of change accompanied the ceremony to welcome the University of Minnesota's next president. Eric Kaler becomes the university's 16th president. He replaces Robert Bruininks who is retiring his administration post, but will return to teaching.

Kaler will kick off the week touring the St. Paul and Minneapolis campuses Monday. He'll then throw out the first pitch at the Twins game later in the week before the officials ceremony on Thursday.

New University of Minnesota President Eric Kaler says professors with stale or ineffective classes must refresh or step aside. He made the comments during his inauguration as the university’s 16th president. He promises to take on bureaucracy and cut administrative costs for every year he has his post.

The drug was initially licensed to a company that recently filed for Chapter 7 bankruptcy. Now Colorado-based Ariel Pharmaceuticals has picked up Tamiasyn and will take over the task of preparing it for human clinical trials.

The budget for next school year approved by the University of Minnesota Board of Regents Friday will raise undergraduate tuition by 3.5 percent and fund as many as 100 new faculty. U of M President Eric Kaler said the tuition increase was the lowest in the past 12 years at the university.

The university wants to increase its undergrad enrollment by about 1,000 students -- for a total of 33,000 students. The new students would mostly be in science, engineering, technology and math.

Fred Wood says Crookston has an innovative campus with technology-rich learning. He comes to Minnesota after 26 years at the University of California-Davis, where he earned degrees in chemistry before becoming an administrator.

Discoveries by researchers at the University of Minnesota led to a record 12 startup companies in fiscal 2012, according to a news release. “The diverse range of disciplines represented in these 12 startup companies demonstrates what a valuable resource the University of Minnesota is to businesses in this state, and beyond," president Eric Kaler wrote.