Vallas gets new deal to stay as CEO till ’09
By a 3-2 vote on August 23, the School Reform Commission approved a contract extension for Chief Executive Officer Paul Vallas.
Vallas’ current five-year contract was scheduled to end after the 2006-2007 school year, but he now has an extension to the end of the 2008-2009 school year. The SRC will also have the option of Vallas continuing either as CEO or as a consultant through the 2009-2010 school year.
The contract for Vallas includes an increase in his annual salary from $250,000 to $275,000 beginning this school year. He will also receive a performance bonus increase from 10 percent to 20 percent of his base salary. This bonus is awarded at the discretion of the SRC. He will also be eligible for a retention bonus for every year that he completes under his contract.
SRC Chair James Nevels and Commissioners Martin Bednarek and Sandra Dungee Glenn voted to keep Vallas, while James Gallagher and Daniel Whelan voted against renewal.
SRC members had heard from a number of public officials citing strides made under Vallas’ leadership and advocating a contract renewal. The two dissenting SRC members expressed concern that the District is not on track to meet an array of performance targets for 2008 in its “Declaration of Education.”
At the commission meeting, Vallas told the audience, “I have no illusions or delusions about how far we have to go…. I will do my best not to let you down.”