Posted at: 05/10/2013 7:22 PM
By: The Associated Press
LAS CRUCES, N.M. (AP) - Regents at New Mexico State University have finalized a contract with incoming President Garrey Carruthers that includes a $385,000 annual salary.
The salary is the same as former NMSU President Barbara Couture received. Under a separation agreement with regents, she ended up getting $453,000.
Under the contract approved Friday, Carruthers will not be eligible for a buy-out payment if he leaves the university early. He also will not receive a raise during the five-year contract and there is no bonus payment at the end of the term.
The regents chose Carruthers last week. He will take over June 1.
He had served as dean of NMSU's College of Business since 2003. He was New Mexico's governor from 1987 to 1990.
Carruthers said Friday it's now time to focus on the university's students, faculty and staff.
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