University of Akron's Former President Scott Scarborough Opts for Professorship and $1.5 Million
Scott Scarborough, who agreed this week to step down as president of the University of Akron, is going to continue with the school in a teaching position.
The five-year contract Scott Scarborough signed two years ago to become president gave him two choices regarding compensation if he left other than "for cause."
"One would be to take, in essence, a severance package of one-year’s salary, or, become a professor within the College of Business Administration," explained University Communications Director Wayne Hill. “That is the option that he has selected.”
The severance package would have been a one-time payment of about $450,000.
The faculty position — which is for at least five years — will pay two-thirds of that presidential salary per year for a total of approximately $1.5 million. The university is also paying Scarborough's predecessor, Luis Proenza, two-thirds of his final, $500,000 salary to be on the faculty.