The Arizona Board of Regents held a special virtual board meeting and executive session Thursday to address several items related to the financial health of the University of Arizona.

Based upon the request of President Robert C. Robbins, the board voted to reduce his overall compensation package.

In addition to a 10% reduction to Robbins' base salary of $816,008 to $734,407, which goes into effect March 18, 2024, Robbins will forego individual annual and multiple-year at-risk compensation goals, including up to $150,000 of individual annual at-risk compensation goals for 2023-2024 and up to $120,000 of multiple-year at-risk compensation goals for 2021-2024. The reduction to Robbins' base salary is ongoing.

Robbins' salary reduction breaks down as follows:

• $81,600.80, base salary
• $120,000, multiple-year at-risk compensation goals
• $150,000, individual annual at-risk goals

The board also voted to approve the appointment of Cecilia Mata to the position of ABOR chair. She will serve in this position through June 30.

In addition, the board voted to approve the appointment of John Arnold as the interim senior vice president for business affairs and chief financial officer. Chad Sampson was appointed as the board's interim executive director.

Read more about Thursday's special session at the ABOR website. The public portion of the meeting can be viewed at ABOR's YouTube channel.