STORRS Conn.—The University of Connecticut Foundation is bringing on a new president next week, but the outgoing leader who makes close to half a million dollars annually will continue to be paid through next June.
The foundation raises money for UConn’s endowment and other things including scholarships and athletic facilities. A capital campaign launched in 2009 has raised about $400 million toward a $600 million goal.
John Martin, who has been the foundation’s president since 2003, is being replaced by Joshua Newton, who served in a similar position at Emory University. The foundation will not say how much it will pay Newton.
Martin will remain at the foundation until his contract expires in June of next year, foundation spokesman Arthur Sorrentino said.
“The board felt that it was a suitable time to begin a search and we found Joshua Newton, and made the decision to do the transition now and not wait until June,” he said.
State Sen. Beth Bye, the co-chair of the legislature’s higher education committee, said she is concerned that the foundation would pay two presidents’ salaries for such a long time.
