JaxPort CEO agrees to contract with Tampa port

[thelakelander]

$350,000: Nice raise for Paul Anderson to head to Tampa:

http://jacksonville.com/news/florida/2012-12-17/story/jaxport-ceo-agrees-contract-tampa-port

[spuwho]

Board Chairman Jim Citrano said he stands ready to call a special board meeting if CEO Paul Anderson decides in the coming days to leave for a similar job in Tampa. Anderson did not attend the meeting Tuesday. Citrano said Anderson is taking vacation time while he decides whether he will stay in Jacksonville or go to Tampa.

The Tampa port's board is scheduled to meet Tuesday and could finalize a contract with Anderson at that time.
Citrano said if Anderson takes the Tampa job, an interim CEO will be named and the board will start the search for a replacement. Board members briefly discussed the options they have regarding Anderson's current contract, which pays him $320,000 a year.

“Why are we waiting for him to make a decision?” board member John Newman asked after noting Anderson sought out the Tampa job by applying for it and undergoing interviews. But board members said it appears the smoothest transition would be to wait for Anderson to make his decision rather than try to end the contract before he resigns. “We are talking about a finite period of time” for Anderson’s decision, Citrano said.
To end his contract, the board would have to show cause or pay a financial severance. If Anderson opts to go to Tampa, his resignation from JaxPort would terminate the contract. He would be departing less than two years into the three-year contract he started in January 2011. As part of that contract, JaxPort agreed to pay up to $35,000 for moving, travel and housing expenses related to him relocating to Jacksonville from South Florida. The contract said he would have to reimburse JaxPort for those costs if he left JaxPort before his first 12 months. He has been on the job more than a year so he would not have to reimburse those costs.