The Board of Trustees Talent and Compensation Committee convened Thursday to address issues such as personnel actions and an update on the search for new senior vice president for student life, changes to compensation procedures, and University President Michael V. Drake’s presidential goals for the upcoming fiscal year.
The hunt for former Senior Vice President for Student Life Javaune M. Adams-Gaston’s successor has been narrowed down to three potential candidates who visited Ohio State’s campus the week of Aug. 19, Susan Basso, senior vice president for talent, culture and human resources, said.
There were also additional updates on personnel actions from Basso. She said offers had been extended and accepted by Dr. Cheryl Hoying for chief nursing executive at the Wexner Medical Center and Rachit Thariani for chief executive officer for the Ohio State Health Accountable Care Organization.
William Farrar’s appointment was approved as CEO of the James effective Sept. 1. Farrar’s new base salary is $845,631.60, Marti Leitch, director of media relations at the Wexner Medical Center, said in an email.
Lyn Harper, principal at Mercer Consulting, reviewed changes to the procedure for setting and reviewing compensation for university executives and to the compensation philosophy.
The procedure for reviewing and setting compensation for Board purview executives was benchmarked against Ohio State’s university peers, Harper said.
It was determined that it would be more effective to have the president’s cabinet — with a few exceptions — and the football and basketball head coaches continue requiring that the president recommends to the Talent and Compensation Committee for full Board approval of any actions regarding contract terms or compensation of these executives, Harper said.
The compensation philosophy is being modified to align more closely with the procedure for setting and reviewing compensation. It will specifically mention that total remuneration will be reviewed against total cash compensation so the Board can better understand the true cost of full packages afforded to executives, Harper said.
Drake proposed his presidential goals for the upcoming fiscal year, which included advancing strategic plans for the university and academic health center, strengthening the quality and affordability of Ohio State’s teaching and learning programs, further establishing the university as a national and global leader, deploying best practices to support the safety and wellbeing of students and staff alike and exemplifying leadership to advance the university towards strategic goals.
The committee voted to approve Drake’s proposed goals.