Trustees and former president reach agreement
Oct. 27, 2006
KALAMAZOO--Western Michigan University's Board of Trustees and WMU's former president Dr. Judith I. Bailey today announced a mutual resolution of outstanding issues pertaining to her presidential employment contract.
Bailey will resign her tenured faculty position, effective today, and retire from the University, effective Dec. 31. She has accepted a one-year position as a senior fellow with the American Association of State Colleges and Universities, beginning in January 2007. That Washington, D.C.-based organization represents more than 430 public colleges, universities and systems of education nationwide. She will work there on policy implications of the Spelling Commission Report.
The agreement with Bailey, was unanimously approved by the board during a special meeting, and the terms were immediately made public. They include a lump sum payment of $310,000; payment of the current balance of her deferred compensation account, which is worth approximately $220,000; housing through Dec. 31; and a portion of her moving expenses. In addition, she will be eligible for health benefits normally available to administrative retirees.
"Western Michigan University is a proud and distinguished institution," Bailey said. "I was honored to serve as its president. I wish the faculty, staff and students great success in the future."
"We wish Dr. Bailey nothing but the best as she continues to pursue her career and life goals," said Board Chair James Holden, speaking on behalf of the board.
Media contact: Cheryl Roland, (269) 387-8400, firstname.lastname@example.org