Monday, 11:10 AM
Former Northeastern president tops salary survey, with an asterisk
By Globe Staff
Former Northeastern University president Richard M. Freeland came out at the top of a survey of the pay of private college presidents, with total compensation of $2.9 million in 2005-2006.
But the figures from The Chronicle of Higher Education come with a footnote. Freeland, who stepped down in August 2006, was paid $514,500 in salary, while most of the remainder of his compensation was the value of an annuity for his retirement.
Justine Griffin, a spokeswoman for the university, said the university consulted with legal and compensation consultants before determining Freeland's retirement package.
She said the package wasn't extravagant and took into consideration a number of factors, including Freeland's "extraordinary contributions and service to the university."
"It's also in recognition of him advancing Northeastern to its current post as a nationally ranked and nationally regarded university," she said.