STATEMENT BY UC PRESIDENT ROBERT C. DYNES ON THE AUDIT OF UC COMPENSATION BY THE BUREAU OF STATE AUDITS

This report illustrates our need for stricter oversight and greater transparency in compensation matters at the University of California. The key findings reaffirm my own resolve and the changes I have already begun to implement.

I believe it is critical to move swiftly, but accurately, to identify root causes and permanent solutions. Where there has been misconduct, misjudgments or mistakes, I will take appropriate action. There is no conflict between our fiduciary duty and our obligation to act fairly.

The University’s objective has been to collect thorough and reliable information representing the facts of past compensation actions, and to use those facts as a firm basis for taking action. This report helps move us forward in that regard.

# # #