UCLA CFO Stephen Agostini Departs Amid Financial Turmoil

Agostini's exit comes as a major blow to the Bruins' athletic department.

Published on Feb. 19, 2026

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UCLA Chief Financial Officer Stephen Agostini, a key figure in the school's proposed move from the Rose Bowl to SoFi Stadium, has been let go in what is seen as a significant setback for the Bruins' athletic department. Agostini's immediate departure was announced in a memo from UCLA chancellor Julio Frenk, who named Reem Hanna-Harwell as interim CFO while a search for a permanent replacement begins.

Why it matters

Agostini had been a strong supporter of the athletic department, understanding its importance as a major marketing and branding arm of the university. He backed the department financially, including providing $30 million in direct institutional support over the last two fiscal years. His departure raises questions about the future of UCLA's athletic programs and their financial stability.

The details

Agostini had pushed for UCLA to play home football games at SoFi Stadium as part of a mixed-use development project that would have financially benefited the school. However, this plan faced opposition from the Rose Bowl and the City of Pasadena, who filed a breach-of-contract lawsuit to keep UCLA at its current football home. Agostini had also been critical of the university's financial management, calling the Ascend Finance Transformation Project a 'terrific waste of resources' that cost $150 million.

  • Agostini's immediate departure was announced on February 17, 2026.
  • Agostini had been in the CFO role for less than two years, arriving in May 2024 from a similar post at the University of North Carolina at Chapel Hill.

The players

Stephen Agostini

The former UCLA Chief Financial Officer who was a key driver of the school's proposed move from the Rose Bowl to SoFi Stadium.

Julio Frenk

The UCLA chancellor who announced Agostini's departure and named Reem Hanna-Harwell as interim CFO.

Reem Hanna-Harwell

The senior associate dean for finance and administration in the UCLA College, who was named interim vice chancellor and chief financial officer.

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What they’re saying

“Chancellor Frenk is confident in the integrity of UCLA's leadership, past and present, and their financial oversight and decision-making processes. Statements suggesting otherwise are unfounded and do not reflect his or UCLA's position.”

— Mary Osako, UCLA vice chancellor for strategic communications (UCLA statement)

“I spent a long time in the federal government. … I have rarely seen the kind of financial management flaws and failures that I see here when I got here. There are days I'm still amazed how things got this way. I have to fix that.”

— Stephen Agostini (Daily Bruin)

What’s next

A search for a permanent replacement for Agostini as UCLA's chief financial officer will begin.

The takeaway

Agostini's departure as UCLA's CFO represents a significant setback for the university's athletic department, which had benefited from his financial support and understanding of the department's importance as a marketing and branding arm of the school. The university now faces questions about the future financial stability of its sports programs.