AGB Honors Presidential Search Contract
AGB Search, LLC. — a firm that assists institutions of higher education in the search for qualified presidents, provosts, vice presidents and deans — will honor its contract with Youngstown State University and conduct the university’s presidential search for no additional fee.
Due to YSU President Randy Dunn’s early departure from the university, AGB Search is contractually obligated to perform the upcoming presidential search for free.
“Should a candidate that the IC [AGB Search] places at the university leave within twelve months of the start date, the IC will reinitiate — for out-of-pocket expenses only and no additional professional fee — a search for the same position as the original placement,” the contract states.
Jamie Ferrare, managing principal of AGB Search, said AGB will uphold this contract and expressed confidence in his company’s ability to find a quality president for YSU.
“In this case, the president’s departure does fall within the one year period, and we will honor the contract and return to assist with the search for no additional fee,” Ferrare said. “I am confident that we will find an outstanding president for YSU and — with the support of the faculty, students and staff — make the experience a positive one.”
The professional fee for last year’s search was $65,000.
Though YSU will not pay for a professional fee this year, hiring a new president will still cost the university because it must pay for search-related advertisements and travel arrangements for presidential candidates.
Sudershan Garg, chairperson of YSU’s Board of Trustees, said he is happy that AGB Search has honored its agreement with the university.
“We had this understanding even before. We are happy that they have come up to us, and they will do it for free for us. Obviously, we are happy. We will be saving some money, and plus, this time I requested the president of AGB to lead the search. He has much more clout,” Garg said. “All of us have to work hard to find a good guy, and that’s it.”
Eric Shehadi, a student trustee, agreed with Garg.
“I think AGB is living up to their side of the contract. They made a commitment,” Shehadi said. “We’re in a situation where we have to find a new president, and that’s what we’re going to do.”