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Contact: Terry Denbow, University Relations, (517) 355-2262, denbow@msu.edu

MSU Board Of Trustees approve 3 percent salary increase for President McPherson

1/16/2004

EAST LANSING, Mich. - The Michigan State University Board of Trustees today approved a 3 percent salary increase for President Peter McPherson which he said he will donate back to the university's general fund.

Under the resolution approved by the board at its meeting today, McPherson received an increase of 3 percent, for a total salary of $293,600.

"We're in a very difficult financial situation," McPherson said. "It will be my intent to give my salary increase back to the general fund."

David L. Porteous, chairperson of the Board of Trustees, said the board has identified four key initiatives that will be critical for the president and his team to focus on this year.

The four initiatives are:

  • the MSU Capital Campaign;
  • addressing the budget challenges;
  • MSU landing the Rare Isotope Accelerator (RIA), a $1 billion federal project which could create more than 1,600 new jobs and provide a boost to the state's economy for the next 20 years; and
  • expanding the College of Human Medicine into western Michigan

"The Capital Campaign is absolutely essential, as we are facing very, very critical financial times," Porteous said.