Herbert might leave by July

Clearing house for his successor and the University’s next leader, IU President Adam Herbert will probably leave office July 1, said trustee Sue Talbot – about a year before his contract is set to expire. \nHerbert made clear last year he was willing to step down early if the trustees had secured a new president before his five-year term expires in 2008. Still, questions about the president’s potential financial compensation remain unanswered, and negotiations between the University and Herbert will occur sometime after the next president is selected, Talbot said. These negotiations will determine how much of his near-$359,600 annual salary Herbert will collect after he leaves office.\nAn announcement about the University’s next president could come as early as Thursday afternoon as trustees commence a two-day meeting at IU Purdue University-Indianapolis. “Presentation and Discussion: The Future of Indiana University,” is the title of one of Thursday’s meetings, though no University officials have confirmed whether a decision will definitely occur this week.\nHow much the outgoing president is compensated for vacating his position early might also be a determining factor in assessing the mood surrounding his departure. \nTerry Bethel, professor at the IU School of Law, said a person who “quits” typically would not receive any severance pay. Such pay usually comes into play when a person is being forced to leave a position, he said.\n“Unless (Herbert) has resigned, they owe him the full amount on the contract,” he said. In other words, if Herbert quits, the University would not likely reward him with a compensation package. \nWhen former IU men’s basketball coach Mike Davis left amid controversy in 2006, the University still agreed to pay the former coach half of his $800,000 salary for the two years remaining on his contract. \nConvincing employees to leave before a contract expires is common practice in business, Bethel said. Oftentimes, companies – or the University, in Mike Davis’ case – who wish for an employee to leave before a contract is completed will offer an employee financial incentives to give up their position early.\nTrustees will waste no time in finalizing details of the president’s contract once a consensus is reached. Even before any decision is made public, Talbot said the trustees will have already negotiated and agreed upon terms of a new contract.\nAnd although Talbot said she does not foresee any major impediments in the final selection stage, she would still not speculate when she expected a final decision to be made public. \n“We will make the announcement when we are ready,” she said.\nAlready concluded this week are two days of what Talbot called “interviews” and “discussions of the candidates.” She said, although there has not been heated debate among the trustees, there has yet to be pure consensus – something Talbot said is necessary for them to arrive at a final choice.\n“We are looking for someone who is engaging – someone who is personal,” Talbot said. Regarding candidates’ views on IU’s hottest issues, like outsourcing and the development of the University’s life sciences, she said trustees were looking for a candidate who possessed “specific leadership skills.”\n“It’s going to be the best fit candidate,” Talbot said.