$2.7 Million Retirement Package for Georgia President

Michael Adams, who announced last week that he plans to retire as president of the University of Georgia, will receive $2.7 million in a five-year retirement package, The Atlanta Journal-Constitution reported. About $600,000 is deferred compensation, tied in part to Adams having served for more than 15 years. State Representative Bill Hembree, who has criticized some spending decisions by public universities, said he was stunned by the package. "That seems like an outrageous amount of money," he said. "He’s done a good job, but these golden parachute deals … they just send the wrong message. This isn’t General Electric or IBM. This is the University of Georgia.”