In September 2010, Daytona State President Kent Sharples lent nearly $1.5 million to the Community Cultural Foundation for the “American Music Festival,” with approval of the previous Board of Trustees. The festival was a money-loser and the foundation owes hundreds of thousands of dollars to many local businesses in addition to the college, which has now cut ties with both the Foundation and Sharples, and the new board ousted Sharples.
Sharples’ attorney negotiated a $1.2 million severance package for the retiring president and he will also be receiving over $0.5 million in accrued benefits. This puts his entire package at six years salary at his current rate of $290,000.
In other news, Vice President Rand Spiwak is retiring in January and Frank Lombardo, Acdemics VP, is becoming the Interim President on Monday, Nov. 22, 2010. Sharples’ last day as president is Friday, Nov. 19.
READER COMMENT BY DONALD ON THE DAYTONA SUN:
“We lost a builder for education and a true force of growth in our community with Kent Sharples resignation from Daytona State College. When will we receive the resignation of Ms Hosseini and her blonde puppet, Ms Haas? Maybe the pocket stuffer of our former Governor…Mori Hosseini will text them with instructions!”
I think it’s disgraceful that Forough Hosseini has led this crusade against Sharples for no good reason, and to much negative publicity. If he remains president, he won’t be able to do anything anyway, since she basically owns the Board of Trustees. Under Sharples’ 11-year tenure, the college has seen unprecedented growth. I sincerely hope this growth continues under Lombardo and the future DSC president.
2010-11-18: DAYTONA SUN: Sharples Out
2010-11-18: DAYTONA BEACH NEWS-JOURNAL: Sharples out as Daytona State president; $1.2 million buyout
2010-11-11: DAYTONA BEACH NEWS-JOURNAL: Daytona State financial head retiring
2010-02-22: DAYTONA BEACH NEWS-JOURNAL: Forough Hosseini quits as college board chairman
Revised at 10:00pm EST, Nov. 19, 2010.