Chancellor Phyllis Wise Steps Aside

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***Update***

URBANA (AP) - A University of Illinois official says the outgoing Urbana-Champaign chancellor will receive $400,000 as part of her resignation.

U of I spokesman Tom Hardy says Phyllis Wise's contract includes a $500,000 retention bonus -- $100,000 for each year she stayed. She's been chancellor for four years.

URBANA – University of Illinois at Urbana-Champaign Chancellor Phyllis M. Wise announces she will stepping aside as chancellor and vice president of the University.

Wise will be out of these positions effective August 12. She will then return to a faculty role. President Timothy L. Killeen accepted her resignation and commended Wise for her commitment to the University.

Killeen is currently searching for an interim chancellor until an immediate search for a permanent replacement can be done. He expects to name someone to the position in the next week.

“I anticipate a smooth transition in leadership and dedicate myself to working closely with internal and external stakeholder groups – faculty, staff, students, alumni, donors and community leaders – during the process,” Killeen said in a statement from the Office of University Relations.

Wise also released a statement saying she has worked with an “extraordinary” team during the last four years, but the time is right for her to step aside.

“External issues have arisen over the past year that have distracted us from the important tasks at hand. I have concluded that these issues are diverting much needed energy and attention from our goals,” Wise explained.

Read the full press release here.

(Image courtesy of the Office of the Chancellor.)

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