Moloney Inks New Pact to Lead UMass Lowell
LOWELL -- UMass Lowell Chancellor Jacquie Moloney has been credited for accelerating the growth and momentum of the university since taking over for her predecessor, Marty Meehan, and her work is being rewarded with a new four-year contract.
The Sun has learned that Moloney signed an agreement in August that will keep her at UMass Lowell through 2022. Her base annual salary in the contract’s final year will approach $500,000.
Meehan, now the president of the UMass system, said in a statement, “Chancellor Moloney has been both an incredibly effective leader and a passionate advocate for UMass Lowell since 2015. We are pleased that the campus will experience continuity of leadership for the next four years as it continues its ascent.”
Under Moloney, the university is enrolling more students than ever before and graduating them at a record pace. She’s also raised UML’s global profile as a top research and innovation center, and increased the university’s fundraising prowess and endowment.
A provision in Moloney’s contract also puts in place a smooth transition to help in the recruitment her own successor.
Moloney will announce her retirement on June 30, 2021 -- the anniversary of the third year of her new contract. During the time of the search for a new chancellor, Moloney will serve her fourth and final year.
“This approach serves mutual purposes and benefits that have been discussed and agreed upon,” the contract reads.
Moloney’s original contract was through June 30 of this year. She will now serve as chancellor until June 30, 2022.
On Monday, Moloney said she’s looking forward to staying at the university through 2022, and continuing to work on various 2020 strategic plan goals.
“We’re moving in the direction we had hoped to,” Moloney said. “We have a very positive and a very promising outlook.”
When asked about the retirement clause in the contract, Moloney said four years is a long way from now.
“I’ve been here a long time, and those thoughts do cross my mind,” she added.
She said that most chancellors get three-year contract renewals. President Meehan wanted Moloney to lead the university for an extra year, while a search is conducted for her successor, she said.
“He is a very strong believer in succession planning,” Moloney said.
Moloney’s contract calls for a base annual salary of $444,000 from July 1, 2018 to June 30, 2019. It will jump to $455,100 from July 2019 to June 2020. Her next salary increase will be to $466,477. Moloney’s salary will be $478,139 in her final year.
The contract includes a clause for performance-based compensation, in an amount of up to 24 percent of her base annual salary. That’s subject to annual performance reviews and the achievement of defined goals.
She’s also entitled to a maximum vehicle allowance of $12,500 per year -- for the purchase/lease of a vehicle, or for a university-leased vehicle.
Meehan said, “With exciting new research projects and facilities coming online, a successful fundraising campaign wrapping up and a campus transformation still underway, Chancellor Moloney will be seeing through both the completion of the UMass Lowell 2020 Strategic Plan and the visioning for the campus’ next era,” he added. “That is great news for UMass Lowell, the University of Massachusetts and the Commonwealth.”
Moloney was unanimously appointed by the UMass Board of Trustees in 2015, becoming the first woman to lead the university.
She has been at UMass Lowell for more than 30 years, serving as a professor, researcher, dean and executive vice chancellor before getting appointed chancellor. She’s also a “double River Hawk,” with a bachelor’s in sociology and a doctorate in education.
Moloney has been called a “pioneer” in web-based learning, revolutionizing the division of Continuing Education to include online programs that now serve 25,000 students nationwide each year.
In less than a decade, UMass Lowell has achieved record gains in student enrollment, academic preparedness, diversity and graduation and retention rates. Moloney on Monday said she wants to surpass 20,000 students.
“We feel like our star is rising,” said Moloney of the university with more than 18,000 students. “We’re becoming the go-to place for students.”
Under Moloney’s oversight, UMass Lowell launched its first-ever comprehensive fundraising campaign with the objective of raising $125 million by 2020. With nearly $115 million already pledged, the campaign is well ahead of its goal. Moloney said they will soon raise the goal to $150 million.
“We have some very ambitious goals,” she said.
Follow Rick Sobey on Twitter @rsobeyLSun.