The UT System Board of Regents approved salary increases for UT System Chancellor Francisco Cigarroa and five other executives from the System
The decision, which was made at the board’s special meeting last week, increases Cigarroa’s salary by 15 percent to $862,500. Randa Safady, vice chancellor for external relations, received the largest increase in percentage, with a 20 percent increase to $550,000. Francie Frederick, general counsel to the board, received a 15 percent increase, bringing her salary to $484,085.
System executives Dan Sharphorn, Patricia Hurn and J. Michael Peppers received smaller salary increases as well.
According to System spokeswoman Jenny LaCoste-Caputo, the decision was made largely to keep the executives’
“In the cases of some executives, it was a retention issue and a matter of making sure they [were] paid market value for their position,”
Although President William Powers Jr.’s salary will not increase for the 2014 fiscal year, he received $195,058.50 in deferred compensation at the end of the 2013 fiscal year in August. According to LaCoste-Caputo, the regents use deferred compensation — which can only be collected at the end of a multi-year term — to encourage institution presidents to stay at their respective institutions instead of accepting positions elsewhere.