I see that the Board of Regents for the University of Iowa have acted (as such boards seem to universally act these days) in complete disregard of the faculty and students at the university, and appointed a businessman with no real background in education as the President of the university.

You can be confident — if, indeed, not absolutely certain — of two things. First, the new University President Bruce Harreld, who was previously senior vice president at IBM, will be drawing an enormous salary. The second is that he will treat the university as a business, faculty as employees, students as customers, and education as a commodity. In other words (and I would be delighted to be proven wrong in this) he will be ideologically committed to the ongoing degradation and destruction of higher ed.