NEWS UPDATE: Rao may take job in Virginia


University President Michael Rao could have a new job by 7 p.m. today.

The Board of Visitors at Virginia Commonwealth University in Richmond will have a special meeting tonight to decide between finalists for their new university president, one of which is Rao.

“All we can say at this point, of course, is that President Rao is a finalist for president at Virginia Commonwealth University,” said Director of Media Relations Steve Smith.

The Richmond Times-Dispatch is reporting this afternoon that Rao is in Virginia today to accept the presidency on VCU’s campus.

Smith said he doesn’t know when Rao first took interest in the job, but that the news quickly developed over the last couple of days.

The CMU Board of Trustees increased Rao’s annual salary by 3 percent in December, from $293,550 to $302,357.

As of Jan. 1, Rao’s contract was extended through 2016.

Smith said he does not yet know how Rao’s candidacy will conflict with his current CMU contract.

“He has to get the job first,” Smith said. “We don’t know what their vote is going to be.”

Under his current contract, Rao’s retention bonuses increase each year by 10 percent, starting at $100,000 in 2009, and his retirement and compensation packages increase from $46,000 to $49,000 and from $15,500 to $16,500, respectively.

If approved by the VCU Board of Visitors this evening, Rao will succeed Eugene P. Trani as president. Trani has said he will step down June 30 because of health reasons.

VCU is the state’s largest state-affiliated university with two campuses in Richmond, the capital of Virginia, and has an enrollment of more than 32,000 students. The school has a heavy emphasis on medical programs.

Check for updates.


Tags: , ,

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: