Penn State trustees give president a raise, look for new chairman
Penn State University trustees approved an $85,000 pay raise for President Rodney Erickson.
The boost announced Wednesday will push Erickson's annual salary to $600,000, retroactive to Nov. 1, according to Penn State. Trustees elevated Erickson from provost to president in November 2011, when they removed longtime President Graham Spanier over his leadership during the Jerry Sandusky sexual-abuse scandal.
Erickson's performance-based raise follows terms of his contract and puts him at roughly the 50th percentile of base salaries for top executives at comparable institutions, Penn State reported. Spanier made $700,000 in his 16th year as president.
In another development, university board Chairwoman Karen Peetz said she would not seek reappointment to the leadership post she has held for a year. Board chairs at Penn State typically serve three consecutive one-year terms.
Peetz said her promotion to president at Bank of New York Mellon, effective Jan. 1, will keep her from continuing as Penn State board chairwoman next year. She has been vice chairman and CEO of financial markets and treasury services at BNY.
“At all times, and particularly now, our university needs a chairman with the ability to commit virtually unlimited time and energy to guiding this great institution to its promising future,” Peetz said in a prepared statement. “The new, significantly broader responsibilities I am assuming at BNY Mellon preclude me from dedicating myself fully to Penn State right now.”
Peetz said she will continue as a rank-and-file board member at Penn State. In a conference call with reporters, she said she would support Vice Chairman Keith Masser in his bid to succeed her.
Masser is the CEO of Sterman Masser Inc., a Schuylkill County potato-farming group. The board elected him vice chairman a year ago.
“I want to do all I can to help bring the university together,” Masser said. “We have challenges with funding. We want to make sure we can address making education affordable for our students.”
Masser also emphasized the ongoing search for Penn State's next president, expected to conclude by mid-2013. Erickson has pledged to retire in 2014.
Any Penn State trustees who want to serve as board vice chairman or chairman in 2013 must declare their intentions by Dec. 28. The 32-member board will vote on its 2013 leadership on Jan. 18.
Peetz and Masser led efforts to restructure the board and strengthen transparency since the ouster of Spanier, who faces criminal charges in connection with the Sandusky case. Board members will discuss several governance recommendations at their January meeting, including suggestions from Auditor General Jack Wagner and the university Faculty Senate, Peetz said.
Sandusky, a former defensive coordinator at Penn State, is serving at least 30 years in prison for abusing 10 boys over 15 years.
Prosecutors say Spanier joined two former administrators, Tim Curley and Gary Schultz, in concealing longtime concerns about Sandusky. The men maintain they are innocent. A judge delayed their preliminary hearing as he sorts out several pending motions.
Adam Smeltz is a staff writer for Trib Total Media. He can be reached at 412-380-5676 or firstname.lastname@example.org.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Reagan shooter Hinckley closer to permanent freedom
- Fights reported, shots fired outside Monroeville Mall restaurant
- Hackenberg forced into extra work in PSU spring game
- Defense shines in Pitt football spring game
- Girl shot in Mercer County
- Pirates notebook: Is it time for Kang to head to Indy?
- Australian teenagers arrested in plot to attack veterans event
- Replica of ship that aided American cause sets sail
- Water main break causes sinkhole in Shadyside
- Lawsuit: Pittsburgh Public Schools should have known officer was abusing boys
- MLB notebook: Fox Sports hires Pete Rose as studio analyst