Former California Lutheran University President Mark Mathews died over the weekend at the age of 92, the Thousand Oaks school announced Wednesday.

Mathews served as president of the university for eight years starting in 1972. The former chairman of the Business Administration and Economics Department strengthened the school’s finances as it doubled its annual budget, increased enrollment, added several facilities and expanded its graduate programs during his tenure.

“Mark set the university on a firmer foundation at a time when many private universities were struggling,” Cal Lutheran President Chris Kimball said in a statement. “He focused on serving students, stabilizing finances, and connecting to the community – all principles that still guide us today.”

After Mathews resigned from the presidency, he taught business until he retired in 1990. The Greater Conejo Valley Chamber of Commerce named him “Man of the Year” in 1985.

Mathews passed away on Oct. 27 in Santa Barbara.