NMU Board of Trustees has approved a three-year contract for incoming
President Les Wong, effective July 1. The
compensation for the first year includes the following: $150,000
in base salary; $35,000 in deferred compensation, which is contingent
upon successfully completing the entire contract period; and a potential
to earn $5,000 in incentive compensation awarded at the discretion
of the board for exceeding expectations in overall performance and
the ability to meet goals.
base salary and incentive compensation will increase to $160,000
and $10,000, respectively, in the second year; and to $170,000 and
$15,000 in the final year of the contract. There will be no change
in the amount of annual deferred compensation.
executive committee was happy to be able to present a fair and appropriate
contract to the full board for approval,” said Scott Holman, chair
of the executive committee. “It is designed to be competitive for
a president we are very excited about having on board and it fits
the current fiscal circumstances and goals of the university.”
said, “I am pleased that this step in the appointment process is
completed. It is far more important to focus on the opportunities
that lie ahead. I am looking forward to being in Marquette and joining
the NMU community full time. July cannot come soon enough for me.”
Campbell, chair of the NMU Board of Trustees, recognized Interim
President Mike Roy for his effective leadership
during the transition period.
also want to commend the Presidential Search Advisory Committee,
chaired by Sam Benedict, for its excellent groundwork in reviewing
applications, conducting preliminary interviews and recommending
finalists for the position,” Campbell added. “We are extremely fortunate
to have Dr. Wong as Northern’s next president.”
executive committee of the NMU board evaluates the president on
an annual basis.