BOZEMAN, Mont. -

New Montana Board of Regents member Bill Johnstone tells NBC Montana he's excited to learn more about the university system and to help it grow in Montana.

Johnstone is one of two new regents appointed by Governor Steve Bullock on Wednesday. The second is Billings attorney Martha Sheehy.

The regents have constitutional authority over the university system and its budget.

NBC Montana sat down with Bozeman appointee Johnstone, who is currently chairman and CEO of Davidson Companies.

He told us, "The university system is very important to the state both in terms of educating young people but also in terms of economic development and economic prosperity in the state. And that's something I'm very interested in."