The longtime Hendrix College president will step down and eventually return to being a professor at the college, spokesman Rob O’Connor said Friday.
J. Timothy Cloyd will leave his position effective immediately, according to a news release. Cloyd earned a base pay of about $314,000 a year, according to the college’s 2010 tax form.
“Here is one thing I have learned: Organizations are living, evolving organisms,” Cloyd wrote in email. “That is why through prayer and deep reflection with my family, I have decided that it is time for new leadership.”
Hendrix has just finished a major fundraising campaign so the timing for Cloyd stepping down ushers in a new period of planning at Hendrix, officials said.
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