- Florida Gulf Coast University is proceeding with its Presidential search committee. Mike Martin, the current university President, is stepping down to retire in December
- The university confirmed that a President-elect will be established in October, and will be presented to the Board of Governors in November
- The school has consulted with The Segal Group in order to establish an appropriate compensatory plan for candidates
The Presidential search committee for Florida Gulf Coast University met on Friday, where a revised timeline was showcased that intends to choose a President-elect in October, with a presentation to the Board of Governors coming no later than November 10th.
FGCU’s current President, Mike Martin, has served in the role for the past four years. Martin announced recently that he plans to step down into retirement in December 2022 at the conclusion of the upcoming fall academic semester.
Prior to his instating, FGCU lost $8 million in performance-based funding via a ranking system determined by 10 metrics that evaluate Florida public institutions on a range of issues. With a goal to restore previous funding standards, Martin has procured more than $23.7 million. During his tenure, the school’s four-year graduation rate improved by almost 19 percentage points, the six-year graduation rate jumped 4.6 percentage points, and the net cost of tuition and fees decreased 48 percent for those who completed their degree in four years instead of six.
“It struck me early on that the most important sustainable issue [for FGCU] was economic sustainability. When you’re in the bottom three [of performance-based funding rankings], you take an $8 million hit your first day on the job, a variety of things like that cause you to say, ‘We’ve got to tee it up and make this place financially sound, so that the campus we’ve inherited really has a useful purpose that can be carried out,’” Martin said at the time.
The committee consulted The Segal Group, which is undertaking studies to determine compensatory proposals for considered candidates. While a salary number has not been finalized, the scope of the study is expanded to include educational institutions with a higher enrollment number than FGCU rather than the previous examination of schools smaller than or at the same size as the university.
“What you don’t want to do ever is lowball your President or put them in a position when you hire them where they feel unappreciated or perhaps undervalued coming in,” said Sally Mason, consultant of the search committee. “The work Segal Group is doing is essential, and will help the board make a decision regarding who to hire and how much to pay them.”
Since the Presidential search was publicly launched in June, the school claims that interest among candidates is high, accruing between 20 and 30 potential successors. Interview sessions will be held in the coming months before deciding on semi-finalists and finalists for final consideration.