Carolina Journal’s Kari Travis reports:

The leader of the University of North Carolina System announced she is leaving her post after just 2 1/2 years on the job.

UNC President Margaret Spellings, former U.S. secretary of education under the George W. Bush administration, offered her resignation Oct. 25, 2018. Her departure will be effective March 1, 2019. Spellings was elected in October 2015, and officially took office March 1, 2016. She signed a five-year contract with the university.

She is the 21st president of the University of North Carolina and the sixth president since the UNC System was unified in 1971.

“All leaders are for a time. When I was hired three years ago the board and I believed that I was the right leader and I have worked hard to meet the expectations that have been set. I am proud of the people around me and of the work we have done,” Spellings said Oct. 26.

“But, times change and those changes demand new leaders and new approaches. I will leave North Carolina proud of the contributions made during my tenure that build on the work of those that came before and that lay the foundation for the work ahead.”

Spellings will receive her regular salary of $775,000, plus benefits, until her exit March 1, 2019. She also will be paid $500,000 “reflecting acceleration of research leave provided for in the existing employment contract and projected performance bonus.” Relocation expenses will be compensated in the sum of $35,000.

Spellings will not be allowed to recruit employees, but may begin service on an outside board beginning Jan. 1, 2019.

Read more here.