FIU presidential search enters final phase

MIAMI (March 31, 2009) – The Board of Trustees Presidential Search Committee has determined the timeline for the final phase of the search process to select the university’s next President. FIU’s fifth president is expected to be announced on Saturday, April 25, 2009 and will succeed Modesto A. Maidique, who is stepping down after serving as President of FIU since 1986.

Board of Trustees Chairman David Parker said that the entire search process, including the commissioning of a compensation study at this juncture, was designed to recruit highly qualified candidates and be efficient, transparent and cost-effective.

“The recruiting phase has been on-going for two months and we are ready to move through the selection process in a way that is inclusive of the university community, responds to the realities of doing business in the sunshine and has a high probability of success,” said Parker. “It’s important that we are clear about what we are looking for and how much we need to pay for that kind of talent in a competitive environment.”

After discussing the report, the volunteer leadership of the university determined that finalists will be presented with a list of terms of employment that they must review and agree to, prior to the final selection being made. Based on the study and the discussion today, a competitive term sheet will be developed for the candidates’ review.

The compensation study takes into account the total compensation – base salary, deferred compensation, signing and retention bonuses, housing allowance, etc. – of the presidents of 22 institutions comparable to FIU. The total annual compensation of the presidents of  public institutions in that group ranges between $534,000 and $816,000, with $680,000 being the median.

“To acquire and retain the best and brightest, a board must be aware of what its peer institutions are paying their presidents,” said Cotton.

The timeline for selection, as well as a position description, can be found at a dedicated presidential search site.

Finalists will be notified on April 17 and on April 19, a week of interviews is expected to begin. In addition to interviews with the Board of Trustees Presidential Search Committee and a Presidential Search Advisory Committee, university vice presidents, faculty, students, alumni and community leaders will have a chance to weigh in on candidates during a series of on campus events during the week.

The search process was created with the assistance of executive search firm Greenwood/Asher and Associates, which was selected to recruit candidates and assist with the process.

— FIU —

Media Contact: Maydel Santana-Bravo 305-348-1555

About FIU:

Florida International University was founded in 1965 and is Miami’s only public research university. With a student body of more than 38,000, FIU graduates more Hispanics than any other university in the country. Its 17 colleges and schools offer more than 200 bachelor’s, master’s and doctoral programs in fields such as engineering, international relations and law. FIU has been classified by the Carnegie Foundation for the Advancement of Teaching as a “High Research Activity University.” In 2006 FIU was authorized to establish a medical school, which will welcome its first class in 2009. FIU’s College of Law recently received accreditation in the fastest time allowed by the American Bar Association.