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CORVALLIS, Ore. – The Oregon State University Board of Trustees on Friday approved a presidential compensation adjustment and elected board officers.

The board approved a 6% pay increase for President Jayathi Murthy, increasing her annual compensation to $747,300.

“Especially given the size and complexity of OSU, President Murthy’s performance has been exceptional,” said Kirk Schueler, chair of the board. “Her steady leadership, including navigating the Pac-12 Conference crisis and the launch of the Believe It campaign and OSU’s next strategic plan, demonstrate that we have a remarkable leader at OSU’s helm.”

The board also elected trustees Román Hernández as chair and Maria Chávez-Haroldson as vice chair. They will serve two-year terms starting July 1. They are the first Latino and Latina leaders of the board since it was established in 2014.

Additionally, the board approved a debt resolution that authorizes Oregon State to refinance existing debt that would save the university money. The resolution permits the university to buy back outstanding taxable bonds and replace them with new tax-exempt bonds if the market supports sufficient economic savings by the end of 2024.

The board also discussed results of its self-assessment survey and the university’s diversity action plan for 2024-2030 and heard a legislative update.

Full materials about the board meeting and its committee meetings, which were Thursday, can be found on the board’s web site.