November 7, 2003
Purdue trustees extend President Jischke's contract to 2007
WEST LAFAYETTE, Ind. The Purdue University Board of Trustees today (Friday, 11/7) voted to extend the university's contract with President Martin C. Jischke until June 30, 2007.
The board also approved a provision that would award Jischke a $400,000 bonus if he stays until then.
Board Chairman J. Timothy McGinley, who helped recruit Jischke to Purdue from Iowa State University in 2000, said the contract is a strategic step.
"The board has been enormously appreciative and pleased with Dr. Jischke's leadership," McGinley said. "We believe it is in the best interest of the university for us not only to acknowledge the magnificent job he has done for Purdue and for the state of Indiana, but also to provide him every incentive to continue to guide us through our strategic plan and prepare us for the future."
The board set Jischke's 2003-2004 salary at $293,062, a 4.5 percent increase. Jischke also will earn $62,488 as president of the Purdue Research Foundation, for a total of $355,550 for the fiscal year that runs from July 1, 2003, through June 30, 2004.
Under the terms of the contract extension, Jischke will remain as president until he reaches the university's mandatory retirement age. University regulations require that executives in top policy positions retire by the end of the fiscal year in which they turn 65. The policy applies to policy-makers such as the president; executive vice presidents; vice presidents; chancellors at regional campuses; deans; and directors of the Agricultural Experiment Station, Cooperative Extension Service and Intercollegiate Athletics.
The board also designated Jischke's wife, Patty, as Ambassador for the President of Purdue University.
"Our presidents' spouses have been an integral part of the Purdue team," McGinley said. "Although they receive no financial compensation, we wanted to formalize our recognition of this extremely significant role and of the outstanding way Patty Jischke has represented Purdue."
The board also honored the Jischkes by naming the President's leadership class the Patty and Martin Jischke Leadership Class. The couple launched this program immediately after arriving on campus, inviting about 30 freshmen each year to their home on Monday nights in an effort to develop student leaders and to provide the Jischkes an opportunity to interact with students.
"I wish everyone could have Patty's and my experience of talking to this diverse and intelligent group of young men and women," Jischke said. "For me it's a great reminder of why I chose to become an educator, and it fills me with optimism about the future. I have no doubt that universities like Purdue are preparing a generation of outstanding leaders who will be equal to whatever challenges come along."
A total of 120 students have participated in the class since its inception in 2000.
Writer: Jeanne V. Norberg, (765) 494-2084, email@example.com
Purdue News Service: (765) 494-2096; firstname.lastname@example.org
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