W&M extends president's contract

WILLIAMSBURG, Va. (WAVY) - The Board of Visitors at the College of William announced Saturday that it will extend President Taylor Reveley's contract through June 2013.

Henry C. Wolf, Rector of the College said, “President Reveley has provided that strong leadership and so we asked him to continue beyond the term of his original contract to insure that the College continues to have the benefit of his leadership for several more years. We are delighted that he has agreed to continue to lead the university for at least three more years.”

Reveley was appointed president at the college following the resignation of Gene Nichol.

“William & Mary is a university of extraordinary caliber, rich in accomplishment and potential,” Reveley said. “I'm truly privileged to help lead it.”

Rector Wolf said Reveley’s extended three-year contract is effective July 1, 2010. The president’s salary, he added, remains at $332,100 and his annual deferred compensation will continue to be $62,000.

“President Reveley asked the Board not to increase his compensation,” said Rector Wolf. “His salary is still where it was in November 2007, before he became interim president. The president was not willing to have a raise until other people at William & Mary can get raises.

Among his long list of accomplishments, Reveley oversaw the college's most successful fund-raising year in 2008-09, topping out at $50 million. He also helped steer the college through tough economic times, helping reduce the state operating budget by 32 percent -- or $16.7 million.

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State of the University