Penn State Extends Spanier's Contract

Penn State University has signed President Graham Spanier to a three-year extension that will keep him at the school through 2015.

Spanier is one of the longest-tenured university presidents in the country. He’s been at Penn State since 1995.

Spanier's new deal takes effect July 1, giving him a $700,000 annual salary.

"Graham Spanier has done a tremendous job leading Penn State and exceeding the very high expectations we have set for the president of this great student-centered University," said Steve Garban, chairman of the Board of Trustees, in a news release. "It takes a talented individual to balance the many complexities of this enterprise, and Graham has moved Penn State forward in every area. He has the full support of our board."

"This is a wonderful vote of confidence and support from the board," Spanier said. "I have always said that this is the greatest job in American higher education and I plan to continue to give my absolute best to Penn State, its students and our faculty and staff. I'm deeply committed to advancing our University even further."

http://live.psu.edu/story/47050

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