CHAPEL HILL — After months of searching, UNC-Asheville has a new chancellor.

Nancy Cable, president of the Arthur Vining Davis Foundations — an organization that funds private higher education, health care, and religious causes, among others — was elected to lead the university Friday, June 1, during a special meeting of the UNC Board of Governors.

Former UNC-Asheville Chancellor Mary Grant stepped down last year. Joe Urgo, the university’s provost, acted as chancellor during the interim.

Cable, who formerly served as vice president at the University of Virginia and Davidson College, was chosen by UNC President Margaret Spellings from a pool of 129 candidates vetted by a 22-member search committee. The committee narrowed the field to three finalists.

Her starting salary is $330,000, about $30,000 more than Grant’s. Details about her benefits package weren’t available at press time.

UNC Asheville is a “true gem of an academic liberal arts and sciences institution,” Cable said.

The new chancellor will bring a nationally recognized, highly regarded body of work to the university, Spellings said.

“I am thrilled to welcome Dr. Cable to UNC Asheville and our UNC System, she said. “This choice could not be more fitting.”

Cable earned a bachelor’s in history from Marietta College and received a masters in education from the University of Vermont. She obtained her doctorate at the University of Virginia, and also graduated from the Harvard University Institute for Educational Leadership. She was a faculty member and dean at Denison University from 1977 to 1986 and worked at Guilford College from 1986 to 1991.

Cable will take office Aug. 15.