U-M president getting 5-year contract extension

ANN ARBOR, Mich. (AP) - Regents at the University of Michigan plan to extend the contract of President Mark Schlissel for five years.

The university said Thursday that its governing board also is giving Schlissel a 3.5 percent raise. His new base salary is $852,346.

Schlissel is in the fifth year of a five-year contract. Andrew Richner, chairman of the Board of Regents, says the university is “doing exceedingly well” under Schlissel’s leadership.

Schlissel told regents that he appreciates the “vote of confidence.” He was provost, the chief academic officer, at Brown University before going to Ann Arbor in 2014.