NJCU President Cashes In Amid Financial Emergency

New Jersey City University president Sue Henderson stepped down at the end of June as the college declared a financial emergency and requested a $10 million lifeline from the state.

Now Henderson is set to cash in on her departure, earning around $650,000 in severance and sabbatical pay, according to NJ.com. Additional perks, including her housing allowance and other benefits, could equal a golden parachute of nearly $1 million for Henderson, NJ.com reported.

Critics have accused Henderson of financial mismanagement. The NJCU Faculty Senate cast a vote of no confidence in her leadership, claiming she squandered a surplus at the university and turned it into a staggering deficit that the college must now turn to the state to fix.

Henderson’s payout comes amid the implementation of cost-cutting measures across the university, including the layoff of at least 15 nonunion employees, according to NJ.com.