The President shall be the chief executive officer of the Massachusetts Institute of Technology. The President shall serve as an ex officio member of the Corporation; as an ex officio member of the Executive Committee; as an ex officio member of the Membership and the Development Committees and of the Development Committee Executive Board; and as an ex officio director of the investment management company established under these Bylaws.
If for any reason the Chair of the Corporation is, in the opinion of the Executive Committee, not available to serve or there is a vacancy in the office, the President shall serve as interim Chair of the Corporation until the Chair of the Corporation is, in the opinion of the Executive Committee, ready to resume service in the office or until a new Chair of the Corporation is elected by the members to fill the vacancy. The President shall chair any meeting of the members of the Corporation which the Chair does not attend, and if the President also does not attend the members shall elect a chair for that meeting.
The President shall work in close cooperation with the Chair of the Corporation to prepare the agenda for Executive Committee meetings and present matters on which Executive Committee action, concurrence, or advice may be necessary or appropriate.
As chief executive officer, the President shall be responsible for the Institute's operations and administration and shall preside over the Institute's faculty. The President shall recommend for Executive Committee action the organizational structure of MIT; such faculty and staff appointments and salaries as the Executive Committee from time to time directs; annual budgets; tuition; scope of educational and research programs; special contract services for the Federal government and other organizations; new plant and facilities needs; and all other matters relating to Institute operations on which Executive Committee action or concurrence may be necessary or appropriate.
The President shall assume such other duties and have such other powers as the Executive Committee may determine or as these Bylaws or law may require, from time to time.
In all matters not requiring action or concurrence by the Executive Committee or by the members of the Corporation, the President shall be responsible not only for initiation but for action.