UNIVERSITY PARK, Pa. -- In a display of confidence in Penn State's 17th president, the leadership of the Board of Trustees on Jan. 10 announced that Rodney Erickson has signed an employment contract with the Pennsylvania State University that runs through June 30, 2014.
"Rod Erickson is a proven leader with 34 years of experience at Penn State in a number of top-level positions," said Steve Garban, chair of the Board of Trustees. "He brings extensive experience in every facet of higher education. The board is extremely pleased to have him as the president of our University."
Garban added that the board expects that under Erickson's guidance, Penn State will maintain its strong position as one of the nation's top public research universities.
Penn State enrolls more than 96,000 students annually, has a research budget of more than $800 million, an overall annual budget that exceeds $4 billion, and operates a world-class teaching hospital in Hershey, Pa. It is one of the largest employers in the Commonwealth. The University has the largest alumni association in the nation and is in the midst of a $2 billion fund-raising campaign primarily aimed at generating additional support for students.
"I am grateful for the Board of Trustees' support and confidence in my leadership of the University. I'm devoted to Penn State, and I will continue to serve our students, faculty, staff and alumni to the best of my abilities," Erickson said. "Penn State is a great University, and I couldn't be more proud of our heritage and accomplishments in teaching, research and service to the public."
A longstanding academic, administrator and scholar, Erickson has served as executive vice president and provost at Penn State for 12 years, and also as dean of the Graduate School and vice president for research. Other positions within the University that Erickson has held include head of the Department of Geography in the College of Earth and Mineral Sciences, director of the Center for Regional Business Analysis and associate director of the Division of Research in the Smeal College of Business.
"President Erickson's strong background in everything from business to research to graduate education and beyond, is a clear indication of his exceptional and proven ability for managing nearly all aspects of the University and for strategically advancing Penn State," said John Surma, vice chairman of the board. "He understands our community, our Commonwealth, our financial outlook and the challenges we face as we move forward with our University's land grant mission of education, research and outreach. His record of achievement is impeccable."
Erickson's contract calls for him to be paid $515,000 per year as a base salary through June 30, 2014, with the opportunity for performance increases based on an annual evaluation that is measured against set goals and objectives. As part of overseeing the 24-campus institution he will have use of a University car and standard employee benefits for University executives.
Erickson, who lives in the State College area, has no plans to move into Schreyer House, the official residence of the University president. The house will continue to be used for special events and University-related business.
Erickson took office as president on Nov. 9, succeeding Graham B. Spanier. As president of Penn State, Erickson also is considered a corporate officer of the University and an ex-officio member of the Board of Trustees.