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Refuse the parachute
It's common practice, when ousting university presidents for cause, to compensate them richly--as if being fired were hard work requiring a hefty bonus.
In recent years, presidents at American University, Boston University, Connecticut College, and others were all removed from office--and all received substantial "golden parachutes." Legitimate outrage followed. When American's Ben Ladner, fired for using university funds to finance an extravagant lifestyle, walked away with $3.75 million, he even attracted the investigative attention of the Senate Finance Committee.
But just because something is common practice doesn't make it right. And those who do the right thing in the face of pressure to do otherwise deserve special praise.
Consider the trustees at the University of Mary Washington.
Last spring, President William Frawley sank his presidency in a single weekend with two DUI arrests. His subsequent unwillingness to take responsibility for his actions sealed his fate with the trustees. They fired him, and, as Frawley indecorously complained in a self-pitying op-ed in the Washington Post, they did so "with no salary or benefits, no severance, no tenure."
In other words, Mary Washington's governors resisted the pressure to follow the crowd; instead of focusing on the questionable goal of easing Frawley out of his job in a manner that would ensure his economic comfort and academic security, they concentrated on doing what was best for the university entrusted to their care: They removed a leader who was a liability, conserving essential resources (time, money, patience, care) for the constructive, necessary work ahead--ensuring the stability of the school while locating and integrating a new president.
That sort of fiduciary clarity is exceptional and admirable. And it deserves recognition and praise.
Posted by acta online on December 06, 2007 at December 6, 2007 06:02 PM
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Comments
It may be outrageous but it's hard to get too upset when much more outrageous things happen in the corporate world. For example, Stan O'Neal getting $160 million as a reward for leaving Merrill Lynch after they lost $8 billion. Was he working on commission?
It also depends on what contractual obligations the university has undertaken, if any.
At the University of Oregon, the athletic director was given a $2 million package to leave before his contract was up, apparently because Nike owner and Oregon benefactor Phil Knight (who some say is the real AD at Oregon) was unhappy with him.
Posted by: Oregon guy at December 8, 2007 12:19 PM
Ah, a perfect example of the [i]tu quoque[/i] fallacy.
Very nice, Oregon guy.
Posted by: Winston Smith at December 8, 2007 08:38 PM
I stand by what I said exactly:
"It may be outrageous but it's hard to get too upset when much more outrageous things happen in the corporate world."
and
"It also depends on what contractual obligations the university has undertaken, if any."
Posted by: Oregon guy at December 11, 2007 05:23 PM