Assumption extends president's contract

Courtesy of Assumption College Assumption College has decided vto extend the contract of President Francesco Cesareo through June 2020.

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Assumption College voted unanimously to extend the contract of President Francesco Cesareo through June 2020, the college announced Monday.

Cesareo, president since 2007, oversaw $15 million in fundraising and the opening of a new campus in Rome last year. His contract was set to expire in June 2015, according to the college.

“During these challenging times for higher education, President Cesareo has demonstrated steady and responsible leadership,” Frederick Bayon, board of trustees chairman, said in a statement. “He has strategically positioned Assumption as a competitive institution among our peers through his emphasis on raising academic standards and student achievement.”

Assumption has introduced new majors in criminology and education during Cesareo’s tenure, rose eight spots in the U.S. News and World Report’s rankings over the past year and is now considered the 30^th best regional university in the Northeast. Last month, Assumption announced a four-year freeze on tuition for current and incoming freshmen to ease cost pressures facing the parents of current and prospective students.

Revenues outpaced expenditures at Assumption by $1.72 million in the 2011-12 school year, the most recent period for which data is available. However, the college had to lay off 15 of its 700 staff members in late February due to rising costs.

Cesareo’s total compensation in 2011-12 was $357,450, according to the college’s tax forms.