Additional policy information can be found at: 
Boulder Campus Policy:

CU System Administrative Policy Statements:

Regent Policy

Appeals Process

Faculty who are not recommended for reappointment, tenure, or promotion by the Chancellor have the right to appeal the decision to the University President. The University President is charged with responsibility for ensuring that appropriate and established procedures are followed on each campus. The President may elect to undertake a review when he or she finds that 
"...substantive issues of sufficient magnitude to affect the outcome exist, procedural issues of sufficient magnitude to affect the outcome exist, or when prima facie evidence of discrimination exists." 
Hence, faculty who wish to appeal the decision of the Chancellor should be advised to address one or more of these criteria in their letter to the President. The appeal process used is described in Subsection 5.C, Laws of the Regents, Faculty Dismissal for Cause and Grievances.

Once a faculty member receives written notification from the Chancellor of his or her decision not to make a positive recommendation, the affected faculty member has ten days in which to make written appeal to the President.