NMSU regents adopt contract terms for new leadership | KOB 4
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NMSU regents adopt contract terms for new leadership

NMSU regents adopt contract terms for new leadership

The Associated Press
May 23, 2018 04:54 PM

LAS CRUCES, N.M. (AP) - Two incoming leaders at New Mexico State University will earn more under contract terms adopted by regents.

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The Las Cruces Sun-News reports Chancellor-designate Dan Arvizu will earn $500,000 per year in base pay. Incoming President John Floros will earn $450,000 annually.

The total earnings of $950,000 represent a more than 150 percent increase in pay over outgoing chancellor/president Garrey Carruthers' salary.

Board of Regents Chair Debra Hicks says the university plans to pay for the salary increase through savings resulting from administrative retirements. Regents also have a plan to set aside money through an investment strategy.

In announcing the pay rates, regents say the university needs the right talent to solve big challenges, such as a 22 percent overall decline in enrollment since 2013, the changing needs of students and online competition.

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The Associated Press

Copyright 2018 The Associated Press. All rights reserved.

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