HONOLULU (KHON2) -- The search for the new president of the University of Hawaii has come to an end. Get Hawaii's latest morning news delivered to your inbox, sign up for News 2 You The Board of Regents unanimously selected Wendy Hensel. Hensel is currently the Executive Vice Chancellor and University Provost for The City University of New York and has previously held positions at Georgia State University. She is a cum laude graduate of Harvard Law School and earned a bachelor's from Michigan State University. “Today’s announcement is the culmination of an exhaustive, extensive, nationwide search and hiring process, where our stakeholders were able to participate at every stage,” said BOR Chair Gabe Lee. “I am confident that Wendy Hensel is the right person to lead UH and help guide the state through the significant challenges ahead.” University of Hawaii announces finalists for next President The terms of Hensel's appointment include a $675,000 annual salary, $7,000 a month housing allowance, moving expenses and a tenure fallback position at UH's law school. Formal approval from Hensel is pending on the three year term that allows for a two year extension. Hensel will oversee more than 9,200 employees serving about 48,000 students throughout UH's 10-campus system. Current UH President David Lassner is expected to retire by the end of the year. Lassner has served since 2014 as UH's 15th president. Find more Hawaii, Oahu, Maui and Kauai news here Hensel is expected to take office in January.