Atlanta, GA (AP) - The state Board of Regents has approved a more than $2 million salary package for the five years after University of Georgia President Michael Adams retires.
The board approved the package at a meeting in Atlanta on Wednesday. The salary package was made public Friday, one day after he announced he would retire in 2013.
Under an agreement signed by Chancellor Hank Huckaby in April, Adams would get $660,000 per year for two years and $258,000 annually for three years. That's in addition to $600,000 in deferred compensation.
The 64-year-old Adams will have been president at UGA for 16 years when he retires. He will hold the title of president emeritus and professor for two years and then will be simply a professor after that.
Longtime UGA President Announces Retirement
Athens, GA (AP) - May 3, 2012 --
Longtime University of Georgia President Michael Adams says he will retire next year.
Adams announced his plans to a gathering of students, faculty and staff at the university chapel on Thursday morning. The 64-year-old has been at the helm of the state's flagship campus for 16 years.
Under Adams' leadership, UGA has climbed in college rankings and national profile. The university's enrollment swelled to 35,000, including the most selective freshman class in its history.
Adams told the crowd that it is the time for him to "step aside and let others continue the work." He said he plans to teach and write at UGA after retirement, along with serving on corporate boards.
He said he made the decision to retire in the last few weeks, declining to give more detail.