The board of trustees at Princeton University has extended Christopher Eisgruber’s presidency by at least five years, school officials announced on Monday. The board of trustees made the decision at an April 9 meeting.
“As the University and world emerge from a period of unprecedented challenges, the board felt it was so important to give us all the reassurance and strength of Chris Eisgruber’s continued leadership for a minimum five more years,” Louise Sams, chair of the board of trustees, said in a written statement. “This decision positions us optimally as we venture forward.”
Eisgruber, a 1983 graduate of Princeton, became the school’s 20th president in 2013 after serving nine years as provost.
“I am grateful to the trustees for their confidence in me, and I am excited about what we can achieve in the next five years,” Eisgruber said in a written statement. “It is a privilege to lead this university and this community that I love.”
The university is increasing the size of its undergraduate body, has several construction projects in the works, and is expanding its presence in West Windsor. For the fiscal year that ended June 30, 2021, Princeton’s endowment earned a 46.9% investment gain and its value stood at $37.7 billion.
“The exceptional performance of the university’s endowment last fiscal year allows us to consider even bolder ways to extend Princeton’s mission and impact,” said Sams. “Chris is a visionary thinker, and we are delighted to keep him at the helm as we lean into this moment of opportunity.”
Two new residential colleges are set to open in the fall of 2022. The university will increase its undergraduate population by about 10 percent, or 125 students per class. The new residential colleges are part of the most ambitious campus construction plan in the school’s history, a plan that will add about three million square feet of buildings to the university over the next decade. The plans include a new engineering and environmental studies neighborhood and a new art museum. In West Windsor, the university has begun the construction of the Lake Campus Development, which will include graduate student housing and athletics facilities.