SOU president receives contract extension
(Ashland, Ore.) — Southern Oregon University President Rick Bailey has been awarded a new, three-year contract – three years after taking the helm at SOU, steering the university through an organizational realignment and charting an entrepreneurial course forward.
The SOU Board of Trustees voted unanimously on Friday to approve the new contract, which essentially extends President Bailey’s original contract that would have expired at the end of June. The new pact incorporates the final six months of the first contract and pushes the expiration date to June 30, 2028.
“My fellow trustees and I recognize that the university is in good hands, and that there are many reasons for optimism under Dr. Bailey’s leadership,” said Sheila Clough, chair of the Board of Trustees. “We are very pleased to acknowledge his innovative guidance and to provide this measure of stability to Dr. Bailey and to SOU.”
The president’s base compensation is unchanged under the new contract. According to Chair Clough, the board and the campus were unified in their desire to retain Dr. Bailey, and therefore, the new contract also includes a deferred compensation component as a retention incentive. President Bailey continues to receive a package of health insurance and retirement benefits similar to those of other SOU employees. The president also receives a vehicle stipend and university-supplied housing.
The new contract requires the board chair to meet again with President Bailey no later than Dec. 31, 2027, “to discuss the board chair’s intent regarding their recommendation concerning Dr. Bailey’s future reappointment as president.”
“I am humbled and grateful to the Board of Trustees and the campus community for their trust and confidence,” President Bailey said. “The position of president at SOU was the only role I was interested in filling when I accepted this job three years ago, and that remains the case today. We have made measurable progress, thanks to a supportive Board and constructive partnerships throughout the university community and beyond. But there is much that remains to be done, and I look forward every day to the work that we do together.”
SOU was at a financial crossroads when President Bailey was hired, with structural flaws in its fiscal model that were the result of a longstanding reliance on a combination of state appropriations and tuition revenue to pay for most operations.
After Bailey led a collaborative, campus-wide realignment process, the Board of Trustees adopted the four-plank SOU Forward strategy a little over a year later. That plan implemented policies of cost management, expanded support for grant applications, leveraging of an ongoing surge of philanthropic support and diversification of revenue through entrepreneurial opportunities including solar power production and creation of a senior living center.
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