MINNEAPOLIS (AP) — University of Minnesota President Eric Kaler has won a contract extension and a pay raise amid rave reviews of his job performance.
The Board of Regents voted unanimously Wednesday to extend Kaler's contract by five years, until 2020. Kaler's contract was to expire in 2015.
Regents also approved a 2.5 percent raise in Kaler's base salary, from $610,000 to $625,250 next year.
The Star Tribune (http://strib.mn/1r9tcSe) reports with fringe benefits, Kaler's total compensation will be $784,700, which ranks sixth among the Big Ten universities.
Board chair Richard Beeson called Kaler "an outstanding leader," and said the board was taking the step to ensure that Kaler is not lured away from the university.
Kaler has been president since July 2011.
Information from: Star Tribune, http://www.startribune.com