UM System terminates executive performance incentive program
- Phone: (573) 882-0601
- E-mail: email@example.com
COLUMBIA, Mo. – University of Missouri System President Mun Choi today announced that he is terminating the university’s executive performance incentive program. Choi said his decision, which affects a small number of senior executives, is effective immediately.
“As the state’s premier public university, we owe it to the state’s taxpayers and our stakeholders to be transparent with respect to what we are trying to accomplish as we move the university forward,” said Dr. Choi. “To that end, I will explore options for making our executive performance practices more effective, with any changes fully vetted with the Board of Curators.”
Choi’s decision applies not only to current senior officers of the UM System, but also to future System senior executive hires.
“The board strongly supports President Choi’s decision to examine this pressing issue in a manner that underscores our commitment to be good stewards of public resources,” said Marcy Graham, chair of the University of Missouri Board of Curators.
“As the university’s most senior leaders, we are paid to competitively perform,” Choi said. “Transparency about how we invest our public resources, including our executive compensation strategy, needs to be addressed first.”
In addition to terminating the executive performance incentive program, Choi also announced a comprehensive review of all elements of compensation for UM System executives. The review, in conjunction with the UM System Vice-President for Human Resources, will begin immediately.
Can't find what you are looking for?