AUSTIN, Texas — A new compensation plan for investment managers at the University of Texas Investment Management Co., Austin, could still be months away from approval.
UTIMCO Chairman Woody Hunt had hoped for a discussion of the compensation plan, which has been approved by the UTIMCO board, at the regents' March 11 meeting. But Charles Miller, chairman of the board of regents, said that would not be the case.
"There's not anything on UTIMCO" scheduled for that meeting, Mr. Miller said.
Mr. Hunt conceded as much and said he would instead focus on getting the plan on the agenda at either the board's April 29 or May 12-13 meetings.
"Even though I don't like the additional time, I think it's a more appropriate way to go" and could increase the chance that the compensation plan will be approved, he said. "I think working through the process will answer any unanswered questions about the incentive compensation plan."
Mr. Miller said, the working group that is reviewing UTIMCO's structure is expected to complete its report in time for the board's April 29 meeting. That meeting is expected to be taken up mostly by UTIMCO issues.