The United Way of the Central Carolinas today asked for the resignation of President and CEO Gloria Pace King and named former Wachovia executive Mac Everett as interim president.
The United Way's board reached the decision during a meeting this morning and made the announcement during a midday news conference.
"The community's reaction has led us to only one conclusion — we made a serious mistake," said United Way board chairman Graham Denton.
Board members said King, whose salary and retirement benefits have touched off a community-wide controversy that threatens the success of the United Way's fund-raising campaign this fall, has not yet resigned.
However, board members said during the news conference that they have given the go-ahead to terminate King's contract without cause.
An analysis of tax records shows that King's combined salary and benefits package is the highest among 31 United Way organizations in the country. Her salary ranks fourth, but her bonus is the biggest among a sampling of 14 agencies of similar or larger size.
Read the full story at CharlotteObserver.com.