Board extends contract of OU President Pescovitz through 2025
Oakland University President Ora Hirsch Pescovitz will remain at the school's helm for another three years.
The university's Board of Trustees voted unanimously Monday to extend Pescovitz's contract through June 2025, officials said. She began her tenure as head of the school in July 2017.
“My time as president at Oakland has been one of the greatest privileges of my life,” Pescovitz said in a statement. “I am humbled by the endorsement from the board of trustees, and I am excited about the promise of a university with limitless potential. I look forward to working closely with our faculty, students and staff to find innovative ways to make sure Oakland evolves continually as a vibrant and thriving higher education community.”
Officials said as the university's president, Pescovitz has accomplished much, including launching the largest fundraising campaign in its history, increasing its graduation rate, creating programs to address student debt and keep students on a path to attaining their degrees and leading the school through the COVID-19 pandemic.
"We are very fortunate to have President Pescovitz leading Oakland University," Tonya Allen, chairwoman of the board, said in a statement. "Her relentless drive, engaging personality, commitment to excellence and diversity, generosity, and uncompromising vision make her an inspirational and extremely effective leader."
Under her contract, Pescovitz earns a $483,170 salary. In the 2021 fiscal year, she took a voluntary 20% pay reduction as part of measures addressing a budget shortfall caused by the pandemic. As president, Pescovitz also lives at Sunset Terrace, the university's presidential house on campus and receives a monthly car allowance.
Pescovitz has made more than $750,000 in personal gifts and commitments to Oakland University in her four-year tenure.
Before joining Oakland University, Pescovitz was senior vice president and U.S. medical leader for BioMedicines at Eli Lilly and Co. and CEO and vice president of medical affairs at University of Michigan Health System from 2009 to 2014.
Located in Rochester, the university has a student population of more than 18,000 undergraduate and graduate students.