Comment on University of Iowa President Bruce Harreld walking away from $2.33 million, board confirms

IOWA CITY — University of Iowa President Bruce Harreld will forfeit more than $2 million by retiring before his contract expires in 2023, a Board of Regents spokesman confirmed Friday. In October, after Harreld announced he planned to retire from his $590,000-a-year position before the end of his contract in 2023, he made comments indicating he would remain affiliated with the UI or regents in some capacity for years — bridging him to the end of his contract and allowing him to collect deferred compensation worth $2.33 million.“When I look at the next 30 months of my tenure, I think it’s very important we wisely use that time,” Harreld told the regents in October, explaining he announced his departure early to allow plenty of space for candidate search and smooth transition.Harreld at the time vowed to stay until a new president starts, avoiding interim leadership and any pause on UI’s strategic progress.Thursday, Regents President Michael Richards announced there will be an interim after all — UI Graduate College Dean John Keller.Although Harreld last fall had suggested a search for his replacement could take 18 months or more, the campus promptly got to work and expects to pick a president by April 30.Harreld told the Daily Iowan last fall he expected to stay on campus through 2023.