Former Chancellor Beverly Davenport officially left UT Tuesday after the Board of Trustees Audit and Compliance Committee approved a separation agreement and $1.33 million separation payment for Davenport.
No taxpayer dollars, no student tuition or fees and no donor funds will be used to fund the separation payment, which comes from interest income and licensing revenue, according to a release.
Five of the six committee members were present at the meeting, with four members present through conference call. Board Vice Chairman Raja Jubran made the motion to approve the separation agreement, and was seconded by fellow committee member Sharon Pryse after a brief discussion.
“I think I, along with all the trustees, were very hopeful that when we hired our first female chancellor, it was going to be successful,” Pryse said. “And, I’m sorry that it was not a successful outcome. I commend all of our university staff who’s negotiated this separation agreement.”
Davenport was appointed chancellor in February of 2017, becoming the university’s first female chancellor. She was also the highest-paid chancellor, with a base pay of $585,000.
The separation payment is significantly less than the amount that UT would have been contractually obligated to pay Davenport if she continued her employment as a faculty member of the College of Communications, which was the planned course of action after she was dismissed as chancellor.
UT would have been obligated to pay her about $2 million in salary and benefits during the first four years of her faculty appointment and $164,632 annually at the start of the fifth year.