The board that governs Colorado State University will hold a "mini-retreat" Dec. 16 to begin the process of replacing former President Larry Penley.

Board Chairman Doug Jones said Wednesday he hopes to hire a new leader by July.

Among issues before the board is whether to create a position of chancellor, which would be filled in addition to the president slot. The chancellor would supervise the presidents of the CSU campuses in Fort Collins and Pueblo.

Penley was president of the Fort Collins campus, and he supervised the president of the Pueblo campus.

If the board authorizes the new position, it would be filled first, Jones said. The chancellor would then participate in hiring the president of the Fort Collins campus.

Other board members made no comments on the leadership issue during a regular monthly meeting in Denver but may have discussed the matter in a closed session.

Penley stepped down last month. He has not commented publicly.

Many students and faculty members said they found Penley remote, in contrast to the previous president, Al Yates, who was considered accessible.

The board on Wednesday formally approved a termination agreement that awards Penley 11 months salary, or $356,583. He will continue to get his monthly housing allowance of $3,333 for three more months.

Board members have declined to discuss the agreement. Discussions on the issue have been in closed sessions only.

Several people, including retiring U.S. Sen. Wayne Allard, have been rumored to be in line for the chancellor position. But Jones said the board has not met since early November and has not discussed candidates.

He dismissed the rumors as "chatter in the system."

In addition to deciding how many executives to hire, the board on Dec. 16 will discuss a vision for the university and the kind of candidate who would fit that vision, Jones said.

That vision will be the subject of campus discussions early in 2009, then will come back to the board for a vote. Only after the vision is adopted will the executive search begin, Jones said.