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UM System president turns down bonus

Tuesday, February 24, 2009 | 10:04 a.m. CST; updated 5:00 p.m. CST, Tuesday, February 24, 2009

COLUMBIA — University of Missouri System President Gary Forsee says he won't accept $100,000 in bonuses he is entitled to receive.

The former chief executive officer of Overland Park, Kan.-based Sprint Nextel Corp. cited the financial challenges the university system faces in turning down the extra money. He is eligible for the bonus because he met certain goals outlined in his contract.

Forsee told university curators he will also forego a performance award in 2010 and doesn't want a salary increase in 2009.

Forsee earns $400,000 annually. He also received an estimated $55 million severance payment from Sprint, as well as an $84,000 monthly pension.

 


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