The chief executive officer of each state university, exercising his or her professional judgment and discretion, shall decide academic promotions in accordance with the following:

a.  Academic rank shall be based solely on merit, salary scales shall be commensurate with rank, and salary differences within various scales established shall also be on basis of merit.

b.  The rank of professor shall be awarded only to those persons who are proven masters of their field, are outstanding in that field, and whose general attributes of culture are recognized by their fellows, with such determination to be made by administrations and faculties in tradi¬tional manner.

c.  In some instances the head of a department or division may hold rank less than professor.

d.  Decisions of the chief executive officer shall be final and are not subject to further administrative review by any officer or committee of the institution or by the Board of Regents.