[3] The "president and chancellor", often shortened to president, is the highest authority in the university after the board of trustees,[4] serving as its chief executive and chief academic officer.
[5] From the university's founding until June 1956, the position was simply titled "chancellor".
The president recommends persons to fill the university's senior offices, including provost, executive vice president, general counsel, and deans, who are then appointed by the board.
[5] The president is provided a penthouse residence, which is owned by the university, on Washington Square Park.
[7] As of 2021[update], the president received over $1.5 million in annual compensation.