It would be nice if you quoted the beginning part of the article:
"Gregory Fenves recently got a big promotion, from provost to president of the University of Texas at Austin. A raise came with it. Instead of his current base of about $425,000, he was offered $1 million.
And he rejected it — as too much."
Greg Fenves was an engineering prof at UT for a long time - he was there when I was in school in the mid-'80s. He’s a standup guy and one of my dad’s friends. Dad is thrilled that he’s going to be the president of UT.