Theobald was most recently senior vice president and chief financial officer at Indiana University. In addition, he was an education finance professor at the main campus in Bloomington.
He replaces former Temple president Ann Weaver Hart, who recently left to take the helm at the University of Arizona.
Theobald has worked in various capacities at Indiana since 1993. Prior to that, he taught education finance at the University of Washington and worked as a high school math teacher.
Originally from Peoria, Ill., Theobald earned a bachelor's degree from Trinity College and a doctoral degree from the University of Washington. He is married with three children.
Temple is one of four state-related institutions in Pennsylvania, meaning it gets some public funding but is not under direct state control. It serves about 39,000 undergraduate and graduate students on nine campuses.