FAIRBANKS -- The Fairbanks Shakespeare Theatre board of directors says it has accepted the resignation of artistic director Bruce Rogers, who says he was only offering to take a pay cut, not quit.

Rogers told the Fairbanks Daily News-Miner the company's budget has been shrinking as a result of the economy, so the board asked Rogers and production manager Rebecca Eddy to have their contract salaries reduced to $12,000.

Rogers said he declined the board's offer and recommended that he, Eddy and interim executive director Anne Thibault all take pay cuts, suggesting they each receive $15,000 annually.

Instead, he received a letter from board president Susan Stitham accepting his resignation.