FORT COLLINS - The CSU Board of Governors has officially selected Michael Martin as chancellor of the CSU system, and will pay Martin a salary of $375,000 annually for five years.

Martin was selected as the only finalist for the position earlier this month; he comes to CSU from Louisiana State University.

Beyond cash, Martin will also receive a $60,000 housing and vehicle allowance.

Martin will serve as chancellor over the three universities in the CSU system: CSU in Fort Collins, CSU-Pueblo, and CSU Global, an online-only university.