California State Committee OKs New President Pay Policy
LOS ANGELES (AP) — A California State University trustee committee has approved a move to ask campus foundations to pay for raises of up to 10 percent for incoming campus presidents.
The special committee on presidential selection and compensation voted Tuesday to amend its executive compensation policy so taxpayers will not fund raises for new presidents.
Instead, campus nonprofit groups would be asked to raise funds to specifically pay for the salary hikes.
Chancellor Charles Reed says foundations have already offered to contribute more money toward presidential salaries.
The full board will vote on the policy on Wednesday.
The policy has been criticized by faculty, students and lawmakers who say executives should not receive any raises as tuition is being hiked and programs cut.
Cal State has 23 campuses.
Copyright 2012 The Associated Press.
