The Board of Governors on Thursday tentatively confirmed Michael Martin as the next president of Florida Gulf Coast University, contingent on the school’s trustees reducing a $700,000 long-term bonus plan.
Martin, 70, a former chancellor of the Colorado State University system as well as Louisiana State University, will succeed Wilson Bradshaw, who is retiring in June.
Members of the board, which oversees the state’s university system, spoke highly of Martin, who also served as a vice president for agriculture and natural resources at the University of Florida from 1998 to 2004. Alan Levine, who was a top health care official in Louisiana when Martin was at LSU, called him “a no-nonsense, get-it-done type of person.”
But the Board of Governors objected to the contract that the Florida Gulf Coast Board of Trustees approved for Martin, which will pay him $350,000 a year with the opportunity to earn up to $100,000 in an annual bonus. The objection was aimed at an additional $700,000 bonus that Martin could earn if he remains president through 2022 and helps successfully execute a long-term strategic plan.
The board directed the university’s trustees to revise the contract to require that if the long-term bonus exceeds $350,000, the bonus would need approval by the Board of Governors. Once the revised contract is returned to the Board of Governors, Martin’s confirmation will become effective.