A university spokesperson confirms Folt’s contract was amended as her original five-year deal was set to expire at the end of June
Following months of on-campus instability caused by national protests over the Israel-Hamas war and accusations of her handling of commencement festivities, USC President Carol Folt will remain the university’s figurehead for the foreseeable future.
A university representative told the Southern California News Group that Folt’s contract has been “amended and extended,” and the university’s Board of Trustees is “looking forward to her continued service.” The spokeswoman declined to specify the exact period of Folt’s extension.
After the Southern California News Group broke the news of Folt’s extension, the institution published a statement to the SCNG on Tuesday night, providing additional information.
“President Folt’s contract remains in full force,” the statement said. “Like all university officers, the president is subject to an annual evaluation.
“The Board continues to express satisfaction with the university’s robust trajectory under President Folt’s guidance.”
Since assuming the role of USC’s president in 2019 amid the university’s implication in the nationwide “Varsity Blues” college admissions scandal, Folt has played a significant leadership role. According to USC’s latest tax filings, Folt was the university’s second-highest-paid employee in 2022, earning a total compensation of $4.6 million, second only to head football coach Lincoln Riley. It remains uncertain whether the affirmation of her contract’s full validity guarantees that her salary will remain unchanged.
Folt’s contract was originally scheduled to conclude at the end of June. Despite this, according to a report from student newspaper Annenberg Media on Monday, she has continued serving as president even after the expiration of her contract. The spokesperson clarified that her contract had been approved beforehand, before her initial five-year term had ended.
The spokesperson also informed SCNG that USC did not consider any other candidates, internal or external, to replace Folt.
During Folt’s tenure, USC has experienced growth in admissions, with a record 82,000 students applying to join as first-years in 2024. Additionally, she oversaw the establishment of USC’s first new school in more than a decade, the School of Advanced Computing.
However, her five years at USC have been a mixture of successes and challenges. She effectively guided the university through the aftermath of the “Varsity Blues” scandal and the COVID-19 pandemic. Nevertheless, the latter part of her tenure has been overshadowed by controversy and unrest on campus.
