Remuneration of the former President and Vice-Chancellor of The University of Manchester 2023/24
The remuneration of the President and Vice-Chancellor of The University of Manchester is set by the Remuneration Committee, which reports into the Board of Governors.
Salary
As set out in the University Financial Statements for the year ended 31 July 2024, the then President and Vice-Chancellor (Professor Dame Nancy Rothwell's) salary per annum was £260,399 (she received no bonus).
The Chair of the Board undertakes a thorough annual performance and development review with the President and Vice-Chancellor. When assessing the level of the President and Vice-Chancellor’s salary, the Committee is given an evaluation of their performance that includes an assessment from each Board of Governors member and a formal review of individual performance by the Chair of the Board based on these inputs. The Chair also circulates a summary of the review to the Board.
The President and Vice-Chancellor is not a member of Remuneration Committee and is not present at Committee discussions relating to their salary.
Contract
The former President and Vice-Chancellor was employed on a fixed-term contract (ending 30 June 2024). She also held a contract as Professor of Physiology which was retained upon leaving office.
Taxable benefits
The President and Vice-Chancellor receives private medical insurance, for his or her self only, and no other taxable benefits.
The table below sets out the former President and Vice-Chancellor’s remuneration for the year ended 31 July 2024 as disclosed in Note 7 (page 65) of the University’s Financial Statements 2023/24 (due to be published in December 2024).
| Year ended 31 July 2024 (£'000) | |
|---|---|
| Salary | 260 |
| Total salary | 260 |
| Benefits | 1 |
| Pension contributions to USS in respect of 6.3% enhanced opt-out | 7 |
| Total remuneration | 268 |
Retirement
Professor Dame Nancy Rothwell retired from the University on 31 July 2024.
Professor Duncan Ivison was appointed as President and Vice-Chancellor on 1 August 2024. In advance of starting the role he joined the University senior leadership team during July 2024. The remunerations and benefits paid during the financial year are disclosed in Note 7 (page 65) of the University's financial statements.
Remuneration Committee report
You can read the most recent annual report from the Remuneration Committee in our Financial Statements, available to download from our list of corporate documents.
Expenses including University credit card
Expenses including University credit card expenditure of the President and Vice-Chancellor are published twice a year.