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Posts tagged ‘Ian McCaw’

28
Aug

Executive Compensation and Perks and Liberty University (2018)

With the most recent headlines reporting the resignation of Jerry Falwell, Jr. following several scandals including his wife’s affair with another man that lasted from 2012-2018, Falwell’s alleged penchant for watching his wife have sex with the young man, and that Liberty University is said to owe $10.5 million (2 years of salary at $1.25 million a year plus $8 million because his responsibilities were curtailed) to Falwell, we all have to wonder what’s been going on at Liberty University?

When questioned about the $10.5 million in exit compensation,  Mr. Falwell said “I didn’t break any rules – I get my compensation.” But the more important question is why the trustees of Liberty University ever entered into a contract with Falwell that would commit the university to paying Falwell $10.5 million if he left the university?  Was he that much of an asset to Liberty?  Could he have gotten that sweet deal from anywhere else? The answer is probably no and no.  So, why did the trustees give Falwell such a generous contract?  And, if he didn’t break any rules, why did he tender his resignation to the Board of Trustees and why did they so readily accept it? Read more »