Board Approves Emeritus Honor For Outgoing Rutgers President
Outgoing Rutgers University President Richard McCormick has received a new job and title.
The board of New Jersey's largest university voted Wednesday to appoint McCormick as a professor of history and education. They also approved a resolution naming him the school's president emeritus.
McCormick will earn $335,000 a year under his contract that guaranteed he would be the highest-paid professor if he returned to the classroom. He currently earns $550,000 a year.
McCormick will step down at the end of the month after nearly a decade in office.
He'll be succeeded by Robert Barchi in September. The former president of Thomas Jefferson University in Philadelphia will be paid $650,000 a year at Rutgers.
(Copyright 2012 by The Associated Press. All Rights Reserved.)