President Mary Sue Coleman was lauded as a strong leader in the effort to keep college affordable as the Board of Regents offered its last annual review of the university’s 13th president. Coleman will retire from U-M in July 2014.
Regent Andrea Fischer Newman, chair of the board, cited many of Coleman’s accomplishments, especially noting how she has “led the university with challenging and important milestones in affordability, financial aid and business efficiency.”
“President Coleman led a year of fantastic forward momentum at the university,” Fischer Newman said at Friday’s Board of Regents meeting. “In addition to her recent announcement that she and Ken are giving $1 million to Michigan for student international experiences, she also secured historic, major gifts from leadership donors.
“This year alone we announced Helen Zell’s $50 million for graduate creative writing, Penny and Roe Stamps’ $40 million for Art & Design, Charlie Munger’s $110 million for graduate housing and fellowships, and, of course, Steve Ross’s $200 million donation for the Ross School of Business and for athletics.”
To show the board’s “deep appreciation” for all she has done, the board awarded her a $100,000 bonus instead of an increase in her base pay for the coming year. The funds will come from non-general fund sources.
Coleman’s current annual base salary is $603,357. She also earns $175,000 in deferred compensation and a $100,000 retention bonus.