(a) The president of the university shall be appointed by the board and shall do all of the following:
(1) Appoint a corps of instructors who shall be styled the faculty of the university.
(2) Appoint such other instructors and officers as the interest of the university may require.
(3) Remove any instructors or officers.
(4) Fix the salaries or compensation of the instructors or officers.
(5) Define the authority or duty of the instructors or officers.
(6) Regulate, alter, and modify the organization of the university, subject to the review and concurrence of the board.
(7) Prescribe courses of instruction within academic programs that have been approved by the board.
(b) Full-time employees, whether tenured, nontenured, nonprobationary, or probationary, who are employed on October 1, 2012, by the university, shall retain any and all rights and privileges as provided in Chapter 24C of this title.
(c) The president of the university, upon the recommendation of the faculty, may confer academic degrees and such honorary degrees as are usually conferred by institutions of similar character.