FOR IMMEDIATE RELEASE
Wednesday, May 3, 2006
University of California Office of the President
STATEMENT BY BOARD OF REGENTS CHAIRMAN GERALD L. PARSKY REGARDING UNIVERSITY OF CALIFORNIA LEADERSHIP
I am appreciative of the concern for the University’s mission and leadership that Senators Romero, Maldonado and Denham expressed today and over the past several months. I agree that we must move forward quickly and decisively to correct the compensation problems that have been identified in order to ensure that this situation does not happen again.
As soon as the Regents became aware that there were problems, the Regents acted to determine all of the facts and identify the underlying causes. The Regents commissioned a detailed 10-year audit by PricewaterhouseCoopers and also commissioned an independent Task Force on UC Compensation, Accountability, and Transparency. The Regents have just received independent reports from the Task Force and PricewaterhouseCoopers, as well as the Bureau of State Audits. We will receive a final, internal University audit at the Regents’ meeting on May 17, 2006.
At that meeting the Regents will review the findings in all of these reports and President Dynes will provide his explanation with respect to the issues that have been raised. I know that he and other senior officials fully appreciate the seriousness of these matters and are giving great attention to them. I believe it is in the best interest of the University for the Regents to have all of the relevant information available and then agree on a plan of action, including action with respect to senior management and the compensation practices of the University.
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