Rutgers University’s president sits on advisory boards of two companies that do business with New Jersey’s flagship school.
Rutgers officials gave Robert Barchi permission to serve on the boards of VWR International and Covance Inc. when he was hired in September.
The Record newspaper reports the two companies paid Barchi $317,000 in fees and stock awards for the part-time advisory posts. Barchi has also accumulated stock in both companies.
In a statement to the newspaper, Barchi said because he recognizes the potential for conflict, he has not been involved in any decisions at Rutgers involving the companies since he became school president.
Rutgers has paid VWR International, a publicly traded lab supply company, and its subsidiaries $15 million since 2008. The pharmaceutical research firm Covance received about $100,000 since 2008.