Iowa State University President Steven Leath resigned today, effective later this spring, in order to lead Auburn University. Impressed by Leath’s land-grant university experience, Auburn’s trustees hired him following a controversial closed search. In a message to ISU supporters, Leath said he and his wife had “expected to retire here.”
However, we now realize our destiny is in Alabama and leading one of the nation’s great Land-grant universities to even greater prominence.
I leave with a promise fulfilled, and that was to leave the university better than I inherited it. I leave with Iowa State achieving record enrollment, retention rates, graduation rates, job placement rates as well as records in fundraising and research funding, and numerous other metrics. I am proud of the many accomplishments that we achieved in economic development and community engagement.
A brief statement from Board of Regents President Bruce Rastetter thanked Leath for his service and noted, “ISU has made great strides during his tenure, including achieving record enrollment.”
The terms of Leath’s contract at Auburn have not been finalized, but it’s a safe bet he will be paid substantially more than the $525,000 base salary he has received since the summer of 2015. The previous Auburn president earned $2.5 million a year, mostly in deferred compensation. Ryan Foley reported for the Associated Press that Leath “will be forfeiting deferred compensation of $625,000 that would have accrued had he remained [ISU] president in June 2020.”
Leath had several good reasons to jump ship.