NMSU regents adopt contract terms for new leadership

LAS CRUCES, N.M. (AP) — Two incoming leaders at New Mexico State University will earn more under contract terms adopted by regents.
The Las Cruces Sun-News reports Chancellor-designate Dan Arvizu will earn $500,000 per year in base pay. Incoming President John Floros will earn $450,000 annually.
The total earnings of $950,000 represent a more than 150 percent increase in pay over outgoing chancellor/president Garrey Carruthers' salary.
Board of Regents Chair Debra Hicks says the university plans to pay for the salary increase through savings resulting from administrative retirements. Regents also have a plan to set aside money through an investment strategy.
In announcing the pay rates, regents say the university needs the right talent to solve big challenges, such as a 22 percent overall decline in enrollment since 2013, the changing needs of students and online competition.
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Information from: Las Cruces Sun-News, http://www.lcsun-news.com