The University's Board of Visitors has determined that President John Casteen, III will hold his position for an additional six years, and Executive Vice President Leonard Sandridge's contract has been extended until 2009.
There was no official process through which the BOV renewed Casteen's appointment, only an ongoing dialogue in which Casteen expressed his wish to prolong his tenure. The BOV has approved the decisions of Casteen and Sandridge to remain in their respective offices.
The University's presidents have no contractual time limit placed on their tenure, and they sit "at the pleasure of the Board," according to University Spokesperson Carol Wood.
Each year, the BOV evaluates the performance of the University's president.
Current BOV members said they are pleased with Casteen's performance, citing his strong relations with the faculty, alumni and student body.
"John Casteen is in full stride," said Thomas Farrell, vice rector of the BOV. "He has been president of the University since 1990, and he understands the University and all of its constituencies -- internal and external."
In addition, BOV members said they are happy to see Sandridge's contract extended nearly four years. They expressed their belief that Casteen and Sandridge will continue to work very well together.
"It's a team that I would put up against any other team in any public institution in America," BOV rector Gordon Rainey said. "They are extremely effective."
By remaining president of the University until 2011, Casteen will be able to see the University's Capital Campaign through to its completion. Casteen will continue his leadership of the current Capital Campaign for the next six years, in an effort to raise $3 billion in private gifts by 2011.
The funds raised in the Capital Campaign -- as with the private funds collected in a previous Capital Campaign -- will go to various University projects and will allow the University a greater degree of autonomy than is enjoyed by many private institutions.
"The Campaign is a critical turning point in the University's history and well help to set U.Va. apart from other public institutions," Wood said.
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