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Michael V. Drake, Ohio State University's president since 2014, announced Thursday that he will retire. Drake, 69, told The Columbus Dispatch that he will remain president at least until the end of the 2019-20 academic year.

"Ohio State has enjoyed record successes in several of our most important strategic markers and has tremendous momentum," Drake said in a written statement. "It was important to Brenda and me that the university be accelerating on a path forward as we decided to begin the transition."

The university pointed to several areas of improvement under Drake's leadership: applications, the academic preparedness and diversity of enrolling students, retention rates, research expenditures, graduation rates, degrees issued, patient care, and support from donors.

Ohio State has faced several controversies related to sexual assault during the past five years. It shut down a comprehensive sexual assault unit last year amid complaints of mismanagement. And controversy continues over the abuse of at least 177 former students by a university doctor from 1978 to 1998.