Former Missouri-Columbia chancellor to keep three-quarters of old salary

The former chancellor of the University of Missouri's flagship Columbia campus will get more than $344,000 a year in his new role heading up the school's research.

The Associated Press obtained Loftin's transition agreement Monday under Missouri's open records law. It shows that R. Bowen Loftin will earn three-quarters of the $459,000 he was making as chancellor until he resigned Nov. 9.

Loftin's resignation came hours after the university system's president, Tim Wolfe, also stepped down in the wake of racial unrest on the Columbia campus.

Loftin had said he was stepping aside as chancellor at the end of the year, but the university's governing board last week named Hank Foley as interim chancellor.

Loftin's transition deal also indemnifies him against any lawsuits for his actions as chancellor.