Proenza takes new position

“President Luis Proenza received a five percent raise from the Board of Trustees on Wednesday during its regularly scheduled meeting. His new total salary, not including bonuses, is $354,495. This increase took affect in Jan. 1. This equates to $170.43 an hour in a 40-hour work week.”

President Luis Proenza received a five percent raise from the Board of Trustees on Wednesday during its regularly scheduled meeting. His new total salary, not including bonuses, is $354,495. This increase took affect in Jan. 1.

This equates to $170.43 an hour in a 40-hour work week.

His salary does not include short-term and long-term performance bonuses or longevity incentives.

According to documents provided by the university, Proenza is eligible for six $25,000 short-term performance bonuses through 2013. He is also eligible for three long-term bonuses – two at $60,000 and one at $40,000 – and two longevity incentives both at $60,000.

Since Jan. 1 of ’99, Proenza has received $204,752.89 in bonuses and incentives alone.

While this salary may seem extreme to college students, the Board of Trustees declared it appropriate for Proenza’s leadership.

In a press release from secretary of the Board of Trustees’ Ted Mallo, the board declared that they were grateful for the way Proenza has led the University of Akron as a leader for public higher education in Ohio.

The board acknowledged Proenza’s guidance in forming collaborations with Lorain County Community College, the University of Cincinnati, the Northeastern Ohio Universities College of Medicine and with Akron’s hospitals. The board also cited his guidance in the construction of InfoCision Stadium and purchase of the Quaker Square complex.

Finally, the board listed conception of UA’s largest public fund-raising campaign. The campaign’s goal is $500-million and already has $275 million pledged or received.