Bowen Loftin’s job at the University of Missouri has changed and so will his pay, but not by much.
ABC 17 News submitted a Sunshine request on November 10 th , for the terms of Bowen Loftin’s transition from chancellor to director of research facility development. Under the terms of the transition agreement, Loftin will receive 75 percent of his salary at the time of his departure as chancellor. Click here to read the full document. He was hired at a base annual salary of $450,000, but the 2015-2016 salary report from the University of Missouri System lists his salary as chancellor at $459,000. The agreement would put Loftin’s new salary at a minimum of $344,250. That rate is more than $100,000 higher than the average pay of the nine MU deans who signed a letter for the board of curators expressing a lack of confidence in Loftin. The deans claim Loftin created “a toxic environment through threat, fear and intimidation.”
The transition agreement has a number of additional financial and fringe perks including an annual “stipend” of up to $35,000, deferred compensation, moving expenses and a car allowance.
More details to follow on-air tonight, and here on our website.