«Breaking News» University fat cat whose pay jumped by a fifth quits

A university boss whose pay rose by a fifth this year has quit amid allegations he had a business link with the chairman of the committee that decided his salary.

Dominic Shellard, of De Montfort University in Leicester, got a 22.4 per cent increase to bring his salary up to £350,000 – the largest pay rise of any vice chancellor this year.

He resigned from his role with immediate effect on Monday, and the Office for Students watchdog launched an investigation into ‘regulatory matters’.

Dominic Shellard, of De Montfort University in Leicester, got a 22.4 per cent increase to bring his salary up to £350,000 – the largest pay rise of any vice chancellor this year

Now it has emerged Professor Shellard (pictured) held shares in a holding company run by Anthony Stockdale, chairman of the university’s remuneration committee. Mr Stockdale approved this year’s rise for Professor Shellard.

On Tuesday, Mr Stockdale resigned from the university’s governing board, alongside two others – Tony Payne and Oliver Mishcon – who were members of sub-committees.

Sir Ian Blatchford, chairman of the governing board, resigned from his role in November.

Mr Stockdale is executive chairman of Metamorph Group and Professor Shellard became a shareholder at some point between October 2016 and October 2017, according to records filed at Companies House.

On Tuesday, Mr Stockdale resigned from the university’s governing board, alongside two others – Tony Payne and Oliver Mishcon – who were members of sub-committees. The grounds of the university are pictured

The most recent De Montfort register of interests shows that Professor Shellard disclosed his shareholding in Metamorph, a holding company for legal services. This means that board members were aware of the business link.

A university spokesman confirmed that the board members had left. He pointed out that the OfS said ‘there is no presumption of wrongdoing by the university’ and added: ‘The university can confirm that it is happy to cooperate fully with the OfS in this matter.’

It comes after a report for the OfS found the average vice chancellor salary has risen above £250,000 for the first time. It used to be common for vice chancellors to sit on the committees that decided their pay, but that is now changing following an outcry.

Critics have said remuneration committees must be truly independent of vice chancellors so they can make impartial decisions on pay awards. 

Link hienalouca.com

https://hienalouca.com/2019/02/14/university-fat-cat-whose-pay-jumped-by-a-fifth-quits/
Main photo article A university boss whose pay rose by a fifth this year has quit amid allegations he had a business link with the chairman of the committee that decided his salary.
Dominic Shellard, of De Montfort University in Leicester, got a 22.4 per cent increase to bring his salary up to £350,000 – the la...

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