Former UVA President John Casteen, who retired in August 2010 and previously bypassed a salary bump when in-state tuition costs rose, earned $251,823 as a board member for Altria, according to a study by the Chronicle of Higher Education. Altria is the parent company of Philip Morris USA, and announced a net revenue of $24.3 billion in 2010, according to reports.
In a study of board appointments for "presidents at colleges with the 50 largest endowments," the Chronicle placed Casteen among the top 20 individuals who earned the most from board appointments. That $251,823 represents roughly 36 percent of his $700,000-plus salary as president of the University of Virginia.
Altria has made several multi-million-dollar financial contributions to UVA, including an electron microscope and a $25 million contribution to the school’s capital campaign. It should also be noted that Altria and Philip Morris USA support the website Citizens for Tobacco Rights, which encourages smokers to speak out against cigarette taxes.
Daniel de Vise, an education reporter for the Washington Post, notes that Casteen made an additional $150,000 from Strayer University last year.