University of Texas System Regents has chosen the former chancellor of the City University of New York as the sole finalist to be the next chancellor of the 14-campus system. During a meeting Saturday in Austin, regents voted to name James B. Milliken as their choice. By state law, regents will have to wait 21 days before they can formally appoint James B. Milliken to lead the system made up of 235,000 students and around 100,000 employees.