University of Toledo President Lloyd Jacobs will be on sabbatical leave to serve as a fellow for Council of Competitiveness.Council of Competitiveness is a global economic development non-profit based out of Washington, D.C.He will be granted a sabbatical leave beginning July 1 until he returns as a professor of surgery in 2015, according to a news release Friday.The university extended Jacobs' contract in 2011. He will step down exactly one year to the day before that contract ends.Dr. Jacobsâ?? contract was extended in 2011 to run through June 30, 2016, meaning he will leave about a year before his contract ends. He earns $392,700 annually.Read more at http://www.toledoblade.com/Education/2014/03/21/University-of-Toledo-President-Jacobs-to-step-down-next-year.html#8wHuKE8v56HdKQEL.99
Dr. Jacobs, who earns just under $400,000 annually, became the 16th president of the University of Toledo in July 2006 after serving as the head of the former Medical University of Ohio. He was selected to lead the merged institution created by the union of MUO and UT.â??I have enjoyed the last eight years in my current role and the ten years Ola and I have spent in Toledo. I am enthusiastically looking forward to working with the Council on Competitiveness as a Distinguished Fellow during this sabbatical and perhaps beyond,â?? he said.The Board will announce its appointment of an interim president at the board meeting on Monday.