Ohio State to Pay Gordon Gee $1.7 Million of Retirement Package

By Nicholas Jervey on April 19, 2014 at 10:55a
Gordon Gee won't be poor, he'll just be a little less rich.
6 Comments

When Gordon Gee retired from Ohio State's presidency last summer, he received a generous retirement package worth $5.8 million. Thanks to his career moves after leaving Ohio State, that package will be about 70% less lucrative.

Gee's retirement package will now be worth $1.7 million. According to the Springfield News-Sun, the savings came about because Gordon Gee accepted a position as the interim president of West Virginia University, triggering a renegotiation of his contract:

His new job triggered a renegotiation of the $5.8 million retirement package that Gee and OSU settled on last July. Details of the revised agreement were reached March 26 but released Friday by OSU.

Gee will retain the honorific title of president emeritus, be provided executive health care insurance for life as long as he’s not covered by another job and keep the $800,000 OSU already contributed to his retirement plan as well as salary, grant money and moving expenses paid out last year.

Four weeks is an awfully long time to wait to announce the savings. Nevertheless, Ohio State could use $4.1 million dollars, and $1.7 million is a pittance compared to some other executives' golden parachutes.

6 Comments

Comments

741's picture

So, Dr. Gee values his own ego fairly highly it appears.

(Or, he needs a better lawyer.)

Jugdish's picture

Dr. Gee was a bargain for OSU. His contributions for the academic successes at OSU are continuing in the forms of new buildings and the value of a degree from OSU. He was a fund-raising machine.

Remember to get your wolverine spayed or neutered. TBDBITL

+5 HS
Art Harrell's picture

Met Dr. Gordon Gee, doing a O.S U. Basketball game, a great person who would take the time

to talk and pose for a picture. Dropped the picture off at his office. He autographed it and sent the picture

to me. Truly a great person, he will be missed. Go Bucks

+3 HS
BoFuquel's picture

The Geeser just never stops giving to TOSU. Thanks again. GO BUCKS!

I wish I didn't know now what I didn't know then.

+2 HS
Buckeyeneer's picture

Can't believe he always for so much bad press. He did great things and will be missed.

"Because the rules won't let you go for three." - Woody Hayes

THE Ohio State University

AndyVance's picture

I'll say it again, and I'll say it 'till the bitter end: railroading Gordon Gee out of town was the worst decision a Ohio State's trustees have ever made. I'm glad the trustees and Morgantown had the good sense to see the value in hiring the nation's best university executive.