The Faculty at Western New Mexico University are outraged after the Board of Regents granted outgoing President Joseph Shepard a $1.9 million exit package, totaling an estimated $3.5 million with additional perks. State officials and residents have criticized the deal as a misuse of public funds, prompting an investigation by the State Ethics Commission.
Shepard’s spending habits came into question, including lavish international trips, furnishing his campus home with expensive furniture and questionable expenditures by his wife, Valerie Plame. A state report found the university engaged in wasteful spending under Shepard’s leadership.
Despite the controversy, Shepard stepped down voluntarily after 13 years as president, framing his resignation as a response to outside interference. The Faculty Senate voted no confidence in the board, leading to calls for their resignation.
Experts like Judith Wilde believe the exit agreement is unusually lucrative and are critical of the lack of transparency and fiduciary management. An investigation has been launched into the deal, but legal complications may arise if attempts are made to nullify the agreement.
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