Friday, October 05, 2007

Resigning Charter "CEO" To Be Paid Until 2015?

The CEO of a struggling Dayton charter school officially stepped down effective Wednesday.School officials at Colin Powell Leadership Academy said William Peterson resigned at the request of the school board.

"This was effective, as a matter of fact, today," said Superintendent Shane Floyd Wednesday afternoon.

"However, we do understand, his resignation is based upon the best interest of the school at this time."The charter school is the focus of a lawsuit filed by Ohio Attorney General Mark Dann last month. In the lawsuit, Dann asks the school to shut down based on its failure to meet Ohio educational standards.

Peterson told News Center 7 his resignation was a mutual decision between himself and the school board. He said he willingly agreed to step down in hopes that the school could move in a better direction.Current school leaders said they're doing whatever they can to keep the charter school open."We are moving ahead as a collective front," Floyd said. "We are confident we are doing the necessary things to get the school on the right track."

News Center 7 also obtained copies of Peterson's severance agreement. The paperwork shows a package paying Peterson his annual salary until 2015, however school leaders and the former CEO said that date is wrong."That is the current contract Mr. Peterson was under, but since his resignation, the board is re-negotiating the present contract," Floyd said.

Peterson said the severance agreement has been negotiated down, and it will only pay out until the end of the school year.

If the media had not asked, wonder what would have happened?

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