LOUISVILLE, KY (WAVE) - Dr. Neville Pinto has drawn praise in the two-and-a-half months he's acted as University of Louisville president, following Dr. James Ramsey's resignation.
But the contract the UofL Board of Trustees approved Thursday makes clear he doesn't want the job for keeps.
"This really is about my responsibility as a faculty member at the university, being called to lead the university back to a path that will make our students, faculty and staff comfortable," Pinto told reporters after the board meeting.
Trustees gave Pinto a standing ovation, praising his "mature" leadership after approving a deal that will pay Pinto a $175,000 yearly stipend to supplement his $480,000 salary. He will forego a number of perks afforded Ramsey: no leased car, no car allowance, no bonuses or deferred compensation.
Ramsey collected millions of dollars in bonuses and deferred compensation during his almost 14-year tenure, much of it through his dual role as president of the UofL Foundation.
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Pinto is a member of the foundation's board, but not its president.
Pinto's decision regarding perks sends a strong, necessary message, trustees chairman Dr. Larry Benz told reporters Thursday.
"The culture change that has to happen here is that we have to have a 'No spin-zone, no illusions,'" Benz said. "His compensation is very straightforward."
The deal makes no mention of how long Pinto might serve, but it allows him to return to the Speed School as its dean and as a tenured professor of Chemical Engineering. He would retain his $480,000 salary with a $60,000 stipend as dean. He would remain in that role an additional five years.