Presidential search update

In an email to the universitywide community on April 13, Board of Trustees Chairman David Parker provided this update regarding the search for President Modesto A. Maidique’s successor:

 Dear members of the university community:

 In an effort to keep you informed, I would like to give you an update on the progress of FIU’s presidential search.

 Our Board of Trustees Presidential Search Committee met on March 31 to review the results of a national comprehensive compensation study conducted and presented by Ray Cotton of ML Strategies, who is considered to be a national expert in this field. This type of study, focused on presidential compensation of benchmark universities, is essential to help us thoroughly understand the elements needed to create a competitive compensation package.

 We highlighted only the public benchmark universities, and the study results depicted total compensation that ranged from $534,260 to $816,002, with $680,000 as the median. It also demonstrated that a combination of elements was being used to arrive at this total compensation number, including base salary, retention bonuses, performance bonuses, deferred compensation, retirement contributions, and housing.

 We leveraged the insights from this study, the market expertise of Ray Cotton and our executive search firm, Greenwood/Asher & Associates, and tailored market standards to FIU’s employment policies, culture and financial limitations. Based on these findings, a term sheet draft was circulated to members of the BOT Presidential Search Committee and officers of the FIU Foundation Board of Directors for review and comment. Adjustments were made to the proposed terms, based on their feedback.

 Today, April 13, the BOT Presidential Search Committee met and approved the proposed terms, subject to approval by the FIU Foundation, which pays approximately two thirds of the president’s compensation. The total compensation range we are offering in the term sheet starts at a minimum of $582,000 with a maximum that used the median point of the study as the target.  Not all candidates will have the same level of experience so flexibility to make an offer tailored to the individual’s skill set and personal circumstances would be prudent.

 Next steps

 We are less than two weeks away from the target date for choosing our new president. Beginning on April 17 we will enter an intense period that kicks off with the Presidential Search Advisory Committee reviewing candidate applications, interviewing candidates and forwarding a short list of up to five candidates to the BOT Presidential Search Committee. The BOT Search Committee will then select up to three candidates who will be invited to campus for interviews. Each candidate will separately go through a day-long process of meeting with students, faculty, administrators, alumni and members of the community. These meetings are currently scheduled for April 22, 23 and 24. The sessions will be held at the same times all three days as follows:

 BBC Faculty & Staff        9:00 – 10:00 a.m. – Wolfe Center
BBC Students & Alumni    10:15 – 11:00 a.m. – Wolfe Center
UP Students & Alumni    1:45 – 2:30 p.m. – GC Ballrooms
UP Faculty & Staff        4:00 – 5:00 p.m. – GC Ballrooms 

For exact times of all the sessions and your corresponding meeting, please refer to the presidential search site. I invite you to get involved so that we can hear your input. With feedback from these interviews, the BOT Search Committee will then select up to two final candidates to put before the full Board of Trustees on Saturday, April 25. Our objective is to extend an offer to one of the candidates that day. Our selection will then go before the Board of Governors for ratification.
Our goal throughout this process has been to recruit highly qualified candidates while ensuring efficiency and transparency. We are faced with a significant task, finding a worthy successor to Dr. Modesto A. Maidique, who has guided FIU for more than two decades. I thank the members of the Presidential Search Advisory Board, led by Executive Dean of Business Joyce Elam, my fellow trustees, and many members of the university staff, especially Senior Vice President and CFO Vivian Sanchez, who has been instrumental in this process. Everyone has given of their time selflessly for the benefit of the institution and will continue to do so for the next two weeks.

You may find more information on the search, including the position description and detailed timeline of events, at the official presidential search site.

Questions or comments to the BOT search committee should be submitted to trustees@fiu.edu. 

Questions or comments regarding the process should be directed to Senior Vice President Vivian Sanchez, vivian.sanchez@fiu.edu. 305-348-2101.

Media inquiries should go to Media Relations Director Maydel Santana-Bravo, santanam@fiu.edu, 305-348-1555.

Candidate recommendations or nominations should be made directly to Greenwood/Asher at jangreenwood@greenwoodsearch.com or bettyasher@greenwoodsearch.com

David Parker
Chair, FIU Board of Trustees
Chair, BOT Presidential Search Committee