Board of Regents committee begins review of executive compensation and administrative transitional leave policies on April 26
Contacts:
Patty Mattern, University News Service, mattern@umn.edu, (612) 624-5551
Chuck Tombarge, University News Service, tombarge@umn.edu, (612) 624-5551
MINNEAPOLIS / ST. PAUL (04/12/2012) —A special committee of the University of Minnesota Board of Regents will begin a review of current university policies on executive compensation and administrative transitional leaves and explore potential changes. The committee will conduct its work in public meetings beginning at 1:30 p.m. Thursday, April 26 in the West Committee Room, McNamara Alumni Center, 200 Oak St. S.E., Minneapolis.
“Regents understand that while compensation and leaves for our senior administrators must be competitive, they must also be prudent,” said Board of Regents Chair Linda Cohen. “We are undertaking this review as a matter of sound governance because oversight and policy development are among the Board of Regents’ core responsibilities. The Board also seeks to be responsive to policymakers and the public.”
Regent Richard Beeson will chair the committee. Regents John Frobenius and Dean Johnson will also serve on the committee.
The Special Committee on Executive Compensation and Administrative Transitional Leaves is charged with:
- Establishing principles to guide a review of executive compensation and transitional leave policy and asking the administration to present revised policy proposals, consistent with those principles, to the committee for consideration;
- Reviewing current Board and administrative polices related to executive compensation and administrative transitional leaves, as well as practices at comparable institutions;
- Working with the administration to refine proposals and develop recommendations to enhance Board oversight and provide clear guidelines on these issues; and
- Reporting committee recommendations to the full Board of Regents at its June 8, 2012 meeting.
The Board intends to implement any policy revisions by fall.
“As the state’s only land grant, public research university, the University of Minnesota provides tremendous value to the state and residents, and we are confident in President Kaler’s ability to advance the university’s mission at a time of constrained resources,” Chair Cohen said. “Together, we are committed to being careful stewards of these resources and will ensure that our policies and practices reflect a university worthy of strong public investment."