Posted: Aug 23, 2013 11:57 AM
Updated: Aug 23, 2013 11:58 AM
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 (http://bit.ly/178mGlx ) 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.
Information from: The Eagle, http://www.theeagle.com