STATE COLLEGE, Pa. (WTAJ) — The Penn State Board of Trustees met on Friday in State College to discuss end of the school year business and to close out Eric Barron’s eight-year tenure as president.

“My thought for this meeting was, why not just have a glass of champagne?” Barron said.

While there were no physical bottles at the meeting, Barron’s figurative “pop” was a toast to years of service.

“We’ve had some ups and downs. And I will tell you, if I were a little bit younger, I would do it all over again. Even if I knew that it wouldn’t be smooth, because this is a special place,” Barron said.

Barron spent his final presidential report explaining goals he set and checked off throughout his tenure, and ended with a thank you.

“I just want to thank you, all of you, everybody in the room, the people sitting around this table,” Barron said. “I know the enormous amount of effort that you give on behalf of this university.”

After Barron’s remarks, the Board of Trustees announced that Penn State’s Innovation Hub would be renamed after Barron. They also presented him with an honor only three other Penn Staters have received.

“I’m very pleased to honor Eric with the Penn State Medal,” Chairman of the Board Matthew Schuyler said. “The Penn State Medal was adopted by the board of Trustees in 1957 for the principal purpose of recognizing and honoring achievements of persons who many an outstanding contribution to higher education in the state of Pennsylvania”

President-elect Neeli Bendapudi officially steps into the role next week.