COLLEGE STATION, Texas (AP) - Retiring Texas A&M University President R. Bowen Loftin will be paid $850,000 as he transitions from school leader to tenured faculty member.
The Eagle newspaper on Friday reported details of the payout agreement signed Tuesday. Loftin in June announced plans to retire as president in order to spend more time with students. He earned $425,000 annually as Aggie president.
The deal indicates the 64-year-old Loftin, who's been president since 2010, will earn $311,000 annually in his new teaching and administrative position.
Loftin in the fall of 2014 will join the Department of Industrial and Systems Engineering. He'll also direct the planned Institute for Advanced Modeling and Simulation, concentrating on homeland defense and bioterrorism.
Loftin next year, before assuming his professorship, will be a special assistant to Provost Karan Watson.
- Updated Supporters mark slain girl's 10th birthday in Albuquerque
- Updated Police: 2 College Station deaths related to drugs, robbery
- Updated KTXS Forecast: Afternoon pop-up showers possible each day this week
- Updated Fried Jell-O among top food winners for State Fair of Texas
- Updated Construction to begin on Highway 351 in north Abilene