The governing board of the institution is responsible for the selection and the periodic evaluation of the chief executive officer.
The authority to appoint the president of the institution resides with the Board as iterated in Article I of the College’s bylaws, which provides in pertinent part that the powers of the Board shall include, but not be limited to, the following:
“D. Nominate and elect the president of the College, who shall be the College’s chief executive officer, and any other officers of the College and the Board.
E. Set appropriate conditions of employment, including compensation, for the president and other officers of the College.
F. Support the president and assess his performance.”
The selection process is effected through the use of an ad hoc presidential selection committee, usually chaired by the chair of the Board. This committee evaluates the qualifications of the applicants for the position, selects the finalists and arranges for finalist presentations before the college’s various constituencies. After receiving input from this process, the committee selects the final candidate that is presented to the Board for an up-or-down vote.
The Board manages the evaluation and compensation processes through the work of its compensation committee, whose purpose is to develop compensation and retirement benefits for the president that are effective for recruiting and retention. The Committee operates under an established compensation philosophy that takes into account:
the College’s finances,;
the president’s performance against specific goals; and
internal equity considerations
The Compensation Committee’s charter sets forth the principal duties and responsibilities of the Committee, which include, among other things:
- “At the beginning of each year, review and approve the goals and objectives of the president of the College.
- At the end of each year, evaluate the president’s performance in light of the goals and set annual compensation for the president, including salary and any incentive plan.
- Establish (and periodically validate) a peer group of institutions and conduct an annual survey of pay practices of those institutions.
- Review and approve other significant terms of employment for the president, including employment contracts.
- Review, for the committee’s information, the evaluation process and compensation for the members of the senior administration that report to the president.
- Retain, at the College’s expense, a compensation consulting firm, and any legal and other advisor that it deems necessary for the fulfillment of its responsibilities.”
As reflected in the foregoing procedure, the compensation committee is involved with the president’s annual performance planning and evaluation. This committee hears and approves of the president’s annual goals and objectives, receives the report on the president’s performance and makes the recommendations for annual compensation increases to the full Board for its ultimate approval. (See Minutes of the Compensation Committee meetings and Minutes of the Board of Trustees)