Message from Interim President Stephen Percy on executive pay reductions
Author: Stephen Percy
Posted: April 27, 2020
Portland State is a community that is driven to overcome whatever obstacles stand in our way. That spirit has led us through many difficult trials over the years. Now we find ourselves at another crossroads, and again, we will work together to emerge as a stronger institution.
The COVID-19 pandemic made a tough budget situation even worse. We continue to take critical steps to increase enrollment, grow revenue and reduce costs. Nevertheless, PSU’s revenue losses and the likely reductions in state funding present extremely difficult challenges.
In charting our path forward, I’ve asked our senior executives to reduce their pay as we continue our efforts to respond to the crisis. I thank them for this sacrifice. And I thank all of you for doing your part to overcome the obstacles that the pandemic has thrown in front of us.
Effective May 1, I will take a pay reduction of 15 percent for the next six months. Other senior executives, including vice presidents, general counsel, deans, vice provosts, and the athletics director, will take reductions of either 10 percent or 7.5 percent, depending on individual salaries. I am confident that the actions we take now demonstrate our resolve to strengthen the long-term interests of Portland State.
I am deeply grateful for the extraordinary commitment and energy that everyone at PSU is investing to support our students and our institution throughout this crisis. Thank you so much for your work.