With what several members expressed as deep regret the University of Central Arkansas board of trustees accepted the resignation of Lu Hardin in a special meeting Thursday morning.

The vote to accept his resignation was 4-1 with board member Dr. Michael Stanton voting "no" and Harold Chakales absent.

Hardin's resignation will be effective Sept. 16, the six-year anniversary of him coming to the University.

Hardin sited the primary reason for his decision was due to his medical condition and at the advice of his doctor.

Hardin recently underwent surgery to treat two tumors behind his right eye.

Hardin said he will use this time to heal and allow the university itself to heal in site of recent controversy surrounding the president.

With the approval of Hardin's resignation the board also approved 4-1, a sabbatical of the balance of this fiscal year. On July 1 there will be a balance $670,162 on the public portion of the presidents contract.

That money will be paid from the trustees' discretionary fund. The president also has a private portion of his contract of $47,570 annually that decreases each year. The UCA foundation has agreed to fund the current year private portion of Hardin's salary.

Board chairman Randy Sims said that while this arrangement may be the best thing for Hardin, he believes it will not be the best thing for UCA.

During the meeting the board also unanimously voted to appoint Tom Courtway to UCA's general counsel as interim president of the university.

(By Jessica Bauer, Log Cabin Staff Writer.)

 

 

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Statement issued by UCA Board of Trustees:

"The board of trustees has negotiated a buyout of President Hardin's contract. Due to his health considerations, the president has been granted a sabbatical for the balance of this fiscal year. On July 1, 2009, there will be a balance of $670,162.35 on the public portion of the president's contract. Those monies will be paid from the trustees' discretionary fund in a lump sum or over the 39-month term as structured by Vice President Tom Courtway. Please be reminded that these funds are generated by bookstore or other auxiliary revenues. Pursuant to the recent attorney general's opinion, no private or deferred compensation will be paid with those funds.

The president also has a private portion of his contract of $47,570.00 annually that decreases each year. The UCA Foundation has agreed to fund the current year private fund portion of the president's salary. Any future private fund portion to be paid would be at the discretion and consideration of the foundation board.

The president's compensation for the balance of this sabbatical year is already funded in our 2008-09 budget. This agreement will not impact our current year's budget in any way.

The severance package that is funded on July 1, 2009, or on terms suggested by Tom Courtway, will be paid with funds from the Trustees Discretionary Fund. Any payment for the private portion of the president's contract will be paid from private gifts restricted specifically for that purpose.

We wish the president well as he battles his health issues and we appreciate the fine work he has done on behalf of UCA."

 

Statement issued by Governor Mike Beebe

"Lu Hardin has been a hard-working public servant for 25 years, but I agree that his decision to resign is the right one for him and for the University of Central Arkansas. UCA is an exceptional institution, and I’m confident that its leaders will move quickly to refocus their energies on the mission of education. Lu is, and will remain, my good friend, and he and his family are in Ginger's and my thoughts and prayers."

 

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