Regents Approve Contract Extension, Pay Increase for WKU President
The governing body of Western Kentucky University has approved a contract extension for President Timothy Caboni.
After 3.5 years leading the university, President Caboni would stay at the helm through 2025, under terms of the new extension. The WKU Board of Regents on Friday also agreed to boost his base salary to $450,000 a year, an increase of $34,000. Caboni will also be eligible for yearly performance bonuses equal to 10% of his base pay.
Regent Dr. Phillip Bale called Caboni an "overachiever" who has positioned the unversity to be one of the success stories in higher education.
"In an era when higher education is under attack in every direction, I would contend we have a president who has outperformed every expectation," Bale said during Friday's meeting. “I think the contract that’s been proposed, to me, is not a generous contract. To me, it’s a very appropriate contract for circumstances in these times.”
Bale said some of Caboni’s major accomplishments include implementing a new ten-year strategic plan, curriculum and budget reforms, and new student housing currently under construction known as the first-year village. Bale also credited Caboni for his guidance through COVID-19, as well as strides in enrollment, retention, and graduation.
President Caboni’s new contract is effective July 1.
In other business, Regents voted to rename the Kentucky Building on campus in honor of a local businessman and philanthropist. The facility will now be known as the Charles Hardcastle Kentucky Building.
Hardcastle is the owner of Consolidated Paper Group in Bowling Green. He’s a 1955 graduate of WKU and has served on numerous boards and committees at the university. He and his wife Carolyn have been long-time donors to the school.