In September 2016, the university board voted to accept President Calhoun's resignation only nine months after he assumed office, and named Cecil Lucy, the university's vice president for administration and finance, as interim president.[27][28] The agreement included a $600,000 severance package for the outgoing president and a commitment not to disclose the reasons for the separation.[29] The board's decision received harsh criticism for its lack of transparency and the high cost it imposed on the institution already in the midst of a budget crisis.[30]