Outgoing NU President Hank Bounds gets $250K consulting deal
LINCOLN, Neb. (AP) — The University of Nebraska has hired its former president as a consultant for $250,000 a year to help raise money to build a new $155 million football and operations complex.
The Omaha World-Herald reports that Hank Bounds will be paid with money from private donors for up to three years to help with the fundraising effort.
Board of Regents Chairman Tim Clare says Bounds already knows the project and has great relationships across the state.
Clare says he doesn’t expect the consulting arrangement to affect the search for Bounds’ replacement.
State Sen. Mike Groene of North Platte says the consulting job is an odd arrangement that wouldn’t happen in private business.
Bounds left the University of Nebraska’s top job in August. He is currently a professor at the University of South Alabama earning $110,000 a year.
Bounds’ base annual salary at NU was $510,400 when he was president.
Information from: Omaha World-Herald, http://www.omaha.com