President of the University

(a) Establishment (1) In general The University shall have a President, to be appointed by the Board, who shall serve as the chief executive officer of the University. (2) Transition (A) In general On the date of enactment of this Act, the individual serving as the President of the legacy institution on the day before the date of enactment of this Act shall be deemed to have been appointed as the Interim President of the University until the earlier of— (i) the date on which that individual is reappointed by the Board as President of the University; and (ii) the date on which the Board appoints a new individual to serve as President of the University. (B) Required action If the Interim President of the University is not reappointed by the Board as President of the University or if a new individual is not appointed by the Board to serve as President of the University by the date that is 2 years after the date of enactment of this Act, the Board shall— (i) reappoint the Interim President of the University as the President of the University; or (ii) appoint a new individual to serve as President of the University. (b) Responsibilities Subject to the direction of the Board and the general supervision of the Chairman of the Board, the President of the University shall have— (1) the responsibility for carrying out the policies and functions of the University; and (2) authority over all personnel and activities of the University. (c) Compensation The Board shall have the authority to fix the compensation (including health and retirement benefits) of the President of the University. (d) Removal On a vote of 11 of the 15 members of the Board, the President of the University may be removed for inefficiency, neglect of duty, or malfeasance in office.