Retiring Texas A&M president to receive $850K golden parachute, iPad, reveal secret docs
Outgoing Texas A&M University President R. Bowen Loftin will receive $850,000 in cash, an iPad, and a job that pays $311,000 annually when he steps down next year, according to private documents obtained by a conservative student publication.
Surprisingly, however, the documents also reveal that President Loftin attempted to hide his demands for an even higher compensation of over $2.5 million, according to the documents obtained by The Aggie Guardian through a Texas Public Information Act request
“I would suggest that you delete the attachment once you have read it and provided back to me any guidance you may have. Thanks, Bowen,” Loftin wrote in an email sent on July 3, 2013, to the school's Provost Karan Watson and CFO B.J. Crain.
It appears from the documents, however, that it was Loftin who forgot to delete the email, leaving it vulnerable to the The Aggie Guardian's public records request.
“Deleting emails and computer files is a technique sometimes practiced by university employees to avoid transparency through the Texas Public Information Act,” notes The Aggie Guardian.
Loftin, in June, announced plans to retire as president in order to spend more time with students.
His initial compensation request demanded a“one-year development leave at the current compensation that I receive... Continuation at my current salary during my service as a full-time faculty member at Texas A&M University," and "Two long academic semesters... with no formal teaching assignments.”
The final transition agreement, also obtained by The Aggie Guardian, reveals the outgoing president will receive an undisclosed amount in deferred compensation, up to $25,000 for annual expenses in his new position, moving expenses for relocation out of his on-campus home, as well as the iPad and a laptop, according to The Aggie Guardian.
Not everyone on the A&M campus is pleased with the arrangement.
“I believe it is pretty excessive,” said Matt McNairy, a junior history major to the Aggie Guardian. “He is like a politician who gains a lot of money but doesn’t do anything for his constituents.”
Administrators at Texas A&M did not immediately respond to Campus Reform’s request for comment.
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