Media report on leadership endowment fund to boost president’s salary
The Portland Press Herald and Bangor Daily News reported on the creation of an endowment fund that will be used to supplement the new University of Maine president’s salary. The announcement came one day before the new president was expected to be named. UMaine plans to use a $5 million donation from the Harold Alfond Foundation to establish a leadership endowment which will make the president’s salary more competitive within higher education, according to the reports. “Given the challenges facing higher education and our state’s economy, high-quality executive leadership at Maine’s flagship university is critical,” Gregory W. Powell, chairman of the Harold Alfond Foundation, said in a statement. “The foundation’s grant will enable the University of Maine to compete nationally for a top-tier president and to help incentivize a long-term commitment to our state.” WGME (Channel 13 in Portland) also published the BDN article.