Current:Home > StocksEthermac Exchange-West Virginia University President E. Gordon Gee given contract extension -Momentum Wealth Path
Ethermac Exchange-West Virginia University President E. Gordon Gee given contract extension
PredictIQ Quantitative Think Tank Center View
Date:2025-04-11 11:02:20
CHARLESTON,Ethermac Exchange W.Va. (AP) — The West Virginia University Board of Governors gave President E. Gordon Gee a one-year contract extension Monday amid a budget shortfall, falling enrollment and plans to cut some academic offerings.
Gee, 79, was given an extension through June 2025 during the board’s special meeting in Morgantown. His contract was set to expire next year.
Gee thanked the board after the vote was announced, acknowledged the ongoing challenges and said the intent is to have “a process that is clear, that is visible to everyone” about improving the university.
The move comes as the university is evaluating nearly half of its academic programs and addresses an estimated $45 million budget deficit.
In June, the Board of Governors approved an estimated $1.2 billion budget for fiscal year 2024 that includes $7 million in staff cuts, or around 132 positions, including 38 faculty members. The board moved forward with slashing 12 graduate and doctorate programs and approved a tuition increase of just under 3%.
Gee and other top university officials have said the budget shortfall is largely a result of enrollment declines. The student population has decreased 10% since 2015. Gee also has cited the factors of inflation stress and increases to premiums the school is required to pay for the state’s government employees’ health insurance program.
In 2019, Gee was given a three-year contract extension through 2024 at a salary of $800,000 per year. At the time, board Chairman William Wilmoth said Gee was “one of, if not the top, university leader in the country.”
When the COVID-19 pandemic started a year later, the university issued $40 million in debt to deal with it. WVU also took on an additional $10 million in debt to pay for the increased employee insurance costs.
Gee is in his second stint at West Virginia that began in 2014. He also was the school’s president from 1981 to 1985. Gee also served two stints as president at Ohio State and had similar roles at Vanderbilt University, Brown University and the University of Colorado.
veryGood! (36)
Related
- A South Texas lawmaker’s 15
- Judge rejects mayor’s stalking lawsuit against resident who photographed her dinner with bodyguard
- Boeing CEO David Calhoun grilled by lawmakers as new whistleblower claims emerge
- ‘Fancy Dance’ with Lily Gladstone balances heartbreak, humor in story of a missing Indigenous woman
- 'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
- Block of ice thought to come from plane slams into New Jersey family home
- Cheer on Team USA for the 2024 Paris Olympics with These Très Chic Fashion Finds
- Missing Florida family were burned in backyard fire pit, police believe, suspect arrested
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- Justin Timberlake's Mug Shot From DWI Arrest Revealed
Ranking
- Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
- Former CNBC analyst-turned-fugitive arrested by FBI after nearly 3 years on the run
- A Missouri mayor says a fight over jobs is back on. Things to know about Kansas wooing the Chiefs
- Billy Ray Cyrus’ Estranged Wife Firerose Accuses Him of Domestic Abuse
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Stackable Rings Are the Latest Jewelry Trend – Here’s How To Build a Show-Stopping Stack
- 10 alleged Minneapolis gang members are charged in ongoing federal violent crime crackdown
- Ralph Lauren unveils Team USA uniforms for 2024 Paris Olympics
Recommendation
The White House is cracking down on overdraft fees
Baseball legend Willie Mays, the 'Say Hey Kid,' dies at 93
Austin Butler and Kaia Gerber Seal Their Romance With a Kiss During Movie Premiere
The Daily Money: Will Wells Fargo's 'rent card' pay off?
Senate begins final push to expand Social Security benefits for millions of people
Boeing CEO testifies before Senate after another whistleblower comes forward | The Excerpt
Video shows baby moose trapped in Alaska lake saved from sure demise as its worried mom watches
Stanley Cup Final Game 5 recap, winners, losers: Connor McDavid saves Oilers vs. Panthers