CORPUS CHRISTI, Texas — Earlier this month, Sean Strawbridge resigned from his position as CEO of the Port of Corpus Christi.
Since then, Strawbridge and port commissioners have been working on a separation agreement.
That agreement will be released Thursday.
Strawbridge’s employment with the port ends Wednesday and the separation agreement becomes effective tomorrow, June 1. It is important to note that he is leaving with 31 months remaining on his contract.
Both Strawbridge and Port of Corpus Christi Chairman Charlie Zhan told 3NEWS that the idea of leaving was initiated by Strawbridge back at the beginning of the year.
"Since I at times have been a polarizing figure in the political spectrum here locally, part of my approaching Chairman Zhan was, ‘Perhaps it might be a good idea to lower some of those political temperatures and perhaps my departure will help lower some of those political temperatures,’" Strawbridge said.
Zhan said that when it became clear that he was serious about moving on, the next step was to work out the details, and that this agreement recognizes Strawbridge’s contribution to the expansion of the port and its accomplishments under his leadership.
"We felt like Sean had spent every day of his eight years working for the Port of Corpus Christi, and what was in the best interest of the Port of Corpus Christi, and we wanted to tell him that we recognize that and we want to pay you accordingly," Zhan said.
That comes by way of a $1.6 million lump sum severance payment.
Last year, Strawbridge made a base salary of $575,000 and another $172,000 in bonuses.
In addition, an internal audit will be conducted, and if any travel and business entertainment expenses are found that are not allowed under Port policy, Strawbridge agrees to repay them by Sept. 1, something he said he would do even without an agreement.
“I will stand by my conduct and I will stand by the conduct of my staff, and I welcome the audit, and I look forward to the results of the audit," Strawbridge said.
Strawbridge will also serve as an advisor to the port until Dec. 15 of this year.
While the search for a permanent CEO is about to go underway, that is not the only leadership change on the horizon.
Zhan reminded 3NEWS that 12 years is the maximum time one is allowed to serve as a commissioner – that’s four three-year terms, and he comes to that number in December.