Breaking: CU financial officer named interim president
Todd Saliman, named the Interim University System President. (Courtesy of University of Colorado Boulder)
On Tuesday, June 1, the University of Colorado Board of Regents voted to name Todd Saliman, the chief financial officer of the CU System, as interim president.
The unanimous vote comes just weeks before the current president Mark Kennedy was awarded a $1.3 million dollar separation deal and is scheduled to step down on July 1. Kennedy had faced mounting pressure to leave his position from faculty, staff and students of the University system.
“Todd is a valued and respected member of the university community who has a sound understanding of the issues it faces,” said Regent Glen Gallegos in a statement at the special meeting of the Board of Regents.
CU to pay Mark Kennedy $1.3M in departure deal as Republican regents decry removal of president
Former GOP congressman will step down from CU presidency by July 1 after 2 years on job
Shawna Noel Schill
Posted at 9:37 PM, May 19, 2021
and last updated 2021-05-19 23:37:03-04
BOULDER, Colo. â University of Colorado President Mark Kennedy will receive a $1.3 million lump-sum payment when he departs his role as leader of the four-campus system by July 1, according to an agreement approved by the CU Board of Regents on Wednesday.
The deal outlining the details of Kennedyâs departure after two years on the job passed on an 8-1 vote, with Regent Heidi Ganahl, an at-large Republican, voting no. The regents are expected to name an interim president soon and initiate a search process for a permanent successor.
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Mark Kennedy
The regents approved the buyout on a 8-1 vote Wednesday, with Regent Heidi Ganahl casting the only dissenting vote. His contract will end July 1.
The decision came less than a month after the
Kennedy’s appointment two years ago was a party-line decision made by a board that, at the time, was the only state body led by a Republican majority.
Concerns arose immediately among some in the CU community about Kennedy’s stance on hot-button social issues during his time as a lawmaker.
The conflict came to a head when the board this year flipped to a Democratic majority.
Hart Van Denburg/CPR News
Mark Kennedy answers audience questions April 24, 2019 at the CU Anschutz Medical Campus. Kennedy was the only finalist for the position of president at the University of Colorado when he was appointed in 2019.
The University of Colorado Board of Regents Wednesday approved a $1.3 million departure payment for President Mark Kennedy, who announced earlier this month that he was leaving after two years on the job. His departure date is July 1.
The “transition agreement” passed on an 8-1 vote.
The buyout covers the remainder of Kennedy’s contract, which began on June 15, 2019, and was set to run through June 30, 2022. Kennedy’s starting salary was $650,000, and it rose to $850,000 in subsequent years.
University of Colorado President Mark Kennedy and the system’s board of regents have come to agreement over Kennedy’s departure with the university. Kennedy will end his term as president on July 1 and will receive a $1.3 million lump sum payment.
Kennedy will continue to be paid his current salary up until July 1, and then will be compensated for final pay and unused vacation time.
The board of regents voted 8-1 to approve the departure package.
”It’s been an honor to work with you and the many hard-working people to advance CU,” Kennedy said to the board following the vote. “I think there’s a lot of great things moving forward.