MSU board extends Nietzel’s contract, establishes endowed leadership chair

Nietzel, who has been president since July 2005, now has a contract through 2012.

At Nietzel’s request, his salary increase will not exceed the pool increases for faculty and staff, currently estimated to be 4 percent, according to an MSU news release. His current salary is $257,088.

The contract will be finalized before the board approves MSU’s 2008–09 internal budget at its June meeting.

In its evaluation of Nietzel, the board cited his “effective work with state and federal government leaders; his relationship building with alumni, donors and friends, especially his increased travel and appearances at alumni functions around the country; his effective communication with all constituent groups; his success in dealing effectively with a variety of challenges; and his effective budget management and fundraising,” the release said.

The board also announced it has established the endowed MSU Leadership Chair. Nietzel has been selected as the first recipient.

The chair will be awarded for two-year terms with annual reviews and the opportunity to renew for additional two-year periods. The earnings from the principal of the position, currently paid at 4.5 percent, can be used at the recipient’s discretion, the release said.

The chair has about $250,000 in commitments, and the ultimate goal is $1 million, which when fully invested would yield $45,000 annually.

All current board members have contributed to the endowed chair, and the response from former board members has been good, the release said.

This story originally appeared in SBJ’s May 16 free e-news Daily Update. Click here to register.