Two years' salary, housing stipend among the perks in University of Michigan president's exit package
Details of the perks in University of Michigan President Mark Schlissel’s newly negotiated exit package came to light Wednesday. A day earlier, Schlissel announced he will be leaving his position by July 1, 2023. That’s a year earlier than his contract stipulated.
David Jesse of The Detroit Free Press reported on the new agreement, which was negotiated with the U of M Board of Regents behind closed doors. One expert told Jesse that even in a world of expensive payouts for university presidents, this deal is “over the top.”
Schlissel will become a special adviser to the university for a year after he steps down. He'll continue to receive his $927,000 salary for that year. Schlissel will then have the option of taking a year off while again collecting his full salary.
He also has the option to return to the university as a professor with a fully equipped lab.
Jesse spoke to Michigan Radio's Morning Edition about his reporting. You can hear more details in our interview with Jesse at the top of this page.
"Contract: Schlissel to receive full salary for at least 2 years after stepping down in 2023" by David Jesse for The Detroit Free Press
Editor's note: U of M holds Michigan Radio's broadcast license.