The controversial president of the Hong Kong University of Science and Technology (HKUST) unexpectedly stepped down yesterday.
Professor Woo Chia-wei, 62, the founding president of the eight-year-old university, will receive a gratuity of $1.57 million when he leaves office next March, cutting his current five-year contract almost in half.
He said he was leaving because it was time for someone new to take up the post and cope with rapid technological developments.
'It is just the right time to find someone who is young and dynamic to head a technology-based university,' he said.
Professor Woo's resignation comes after a turbulent period at the helm of the university, which began with the then colonial Legislative Council questioning the campus' $3.2 billion construction cost in 1988.
Professor Woo's salary of around $210,000 a month - including a $30,000 top-up from private donations - has also drawn criticism.
