A University of Tennessee board committee meeting this morning in Knoxville approved a compensation package for the next UT system president.
The proposal, to be voted on by the full board Thursday, provides a base salary for the new president of between $420,000 and $450,000. A housing allowance of $20,000 and a non-accountable expense allowance ranging from $12,000 to $16,000 also are included.
In addition, UT Board Vice Chairman Jim Murphy is granted the authority to negotiate performance and retention pay and a relocation allowance.
The pay scale for a new system president is in line what has been offered to past candidates. Former UT President John Petersen, who resigned last June, was paid a base salary of $420,971.
A committee of trustees overseeing the search will meet Thursday. Gina Stafford, a spokeswoman for the UT system, said the system will launch a Web page Friday that will be linked off of www.tennessee.edu and will track the process of the presidential search and allow people to submit questions and comment on future candidates.
Officials said a new president will be announced in late October.
For complete details, see tomorrow’s Chattanooga Times Free Press.