USC President Carol Folt, who sought to reset the scandal-plagued university with major initiatives to boost athletics, expand computing programs and expand student access — but also drew criticism for her handling of pro-Palestinian protests — will retire in July, she announced Friday. .
“After more than twenty years of leadership in three great universities,” Folt wrote to the USC community, “I am excited to embrace the freedom that comes with the next big leap, and to pass the baton to the next president who will be able to build on our achievements and make a new chapter for this remarkable institution.
Folt, 73, will remain at USC as a tenured faculty member. His future was in doubt after the USC Board of Trustees in July gave him a five-year contract extension — but would not disclose the length or terms — while reviewing his performance. After he becomes leader on July 1, 2019, with a contract that provides compensation at the same level as former President Max Nikias, he is promised at least ten years, said Rick Caruso, chairman of the USC board, at the time.
USC Board of Trustees Chairwoman Suzanne Nora Johnson expressed her appreciation for Folt, saying she was hired at “one of the most important moments in the school’s history.” In a letter Friday to the USC community, Johnson praised his leadership skills and “an innate ability to connect with community members on a personal level.”
“His dedication to solving the difficult problems before him — whether past or present — never stopped him from focusing on what was next,” Johnson wrote. “His strategic eye for the future, and the groundbreaking initiatives he has launched, will benefit current and future generations of Trojans, and (certainly) contribute to USC’s long-term sustainable excellence.”
Address past issues of racial justice
Folt said he is proud of his work to expand programs in computing, health sciences, athletics, financial aid and student welfare. He launched a $1 billion plan to expand computing across the university, for example, with a new School of Advanced Computing as its cornerstone.
Folt also called “special importance” his efforts to correct the university’s past on racial justice – offering honorary degrees to 33 Japanese Americans imprisoned during World War II who were denied the opportunity to continue their studies at USC, removing the name of eugenicist Rufus von KleinSmid from an important building and changed the name after Dr. Joseph Medicine Crow, Native American leader, and honored Holocaust survivor with University Medallion.
“You also helped us correct a very painful episode, restore a damaged reputation and solve serious legal problems, bring about cultural change, and develop new policies to ensure the safety and well-being of our community,” he wrote to the USC community.
Folt was hired with an overriding mandate to restore confidence in the university, which has been shaken by one scandal after another. He replaced the top administrator and made a $1 billion settlement with alumni victimized by an abusive obstetrician.
The first woman to lead USC since its founding in 1880, Folt also worked to open access to other low-income, first-generation and underrepresented students of color. In one of his most notable initiatives, Folt directed USC to eliminate tuition fees for families earning $80,000 or less per year and not consider home equity in financial aid calculations. The estimated annual cost to attend USC for 2024-25 is $95,225 for students living away from their families.
He drew national attention to his landmark move to reshape USC’s athletic program. That included hiring nationally renowned football coach Lincoln Riley to a $10 million annual contract — one of the highest salaries in the sport, which is now under fire for USC’s declining performance. She also helped lead the move to the Big Ten that ultimately led to the demise of the Pac-12 Conference, and the hiring of Jen Cohn, USC’s first female athletic director.
Censure through spring protests
That action was overshadowed this spring by a major controversy over the handling of pro-Palestinian protests.
In particular, his decision to cancel pro-Palestinian valedictorian Asna Tabassum’s speaking slot at USC’s main commencement ceremony sparked outrage. Folt justified the decision by citing unspecified safety threats.
The chaos escalated when Folt canceled the “main stage” commencement ceremony, depriving students and their families of a time-honored ritual. Folt and his team called the police to dismantle a camp set up by students in support of Palestine, which led to 93 arrests.
He has not commented publicly for two weeks, drawing criticism for his lack of action during the most explosive issue of his tenure.
These actions cost Folt key faculty support. In May, the USC Academic Senate voted to censure him and Provost Andrew Guzman over their handling of the event at commencement. Among the 44 members of the Academic Senate, representing about 4,500 faculties, 21 supported the censure motion, seven opposed and six abstained.
However, Folt’s supporters noted that the president has created a state-of-the-art computing school and improved mental health services. He also led a record number of applicants – 82,000 for the fall of 2024 – reducing the admission rate to 9.3%, a record low. Admitted students, one-fifth of whom are the first in their families to attend college, have an average 3.89 GPA.
Under Folt, USC raised more than $800 million in fiscal year 2024, the most in eight years, and its fundraising total the previous year ranked 10th highest among U.S. research universities, a USC statement said. Research spending will rise to $1.1 billion in fiscal year 2023, a 27% increase over four years, according to an emailed statement.
Reshaping school athletics
During his first six months as president in 2019, Folt plans to remake USC’s athletic department. He replaced Lynn Swann, the Trojan football hero who resigned as athletic director in September, with Mike Bohn, the first outsider to lead USC athletics in a quarter century.
But Bohn abruptly resigned last May after The Times sent questions to him and USC about his conduct as athletic director and department management. In his place, Folt hired Cohen.
On Thursday, Folt announced a $50 million gift for the state-of-the-art Bloom Football Performance Center — part of a $200 million fundraising effort he is leading, USC said. It’s just one of several capital facility projects currently in the works.
