The Arizona Board of Regents approved performance incentives for ASU President Michael Crow Friday during a meeting at NAU.
Crow will receive a $150,000 raise for fiscal year 2015, which brings his annual salary to about $1 million. The ASU president was eligible for this raise based upon goals the regents established in 2012.
NAU President Rita Cheng and UA President Ann Weaver Hart were also eligible for performance incentives and each were granted $40,000 and $115,000, respectively.
Treasurer Mark Killian said Crow and fellow presidents Rita Cheng (NAU) and Ann Weaver Hart (Arizona) deserve these bonuses.
“These are very well-run institutions,” Killian said. “These institutions have become billion-dollar business enterprises, and if you are going to hire someone to run a billion-dollar business enterprise ... you are going to invest in people.”
Under Crow, ASU achieved a record number in research expenditures: more than $445 million in fiscal year 2015. ASU also integrated Thunderbird School of Global Management into the University’s knowledge enterprise.
Crow also met goals for expanding the University’s online presence and community college transfers.
UPDATE:
A project to revamp ASU Gammage Auditorium was also approved for $9 million.
The update will provide the auditorium with enough money for new facilities, including 120 additional bathrooms.
The regents also approved Tempe’s third Biodesign building, which will be called Biodesign C.
The building will be four stories high with 151,000 square feet of space to house the ASU-Banner Neurodegenerative Disease Research Center.
Reach the assistant news editor at aplante@asu.edu or follow @aimeenplante on Twitter
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