The longtime president of Suffolk University, once identified as the highest-paid college president in the country, has retired.
The school announced Wednesday that David Sargent was stepping down immediately and a nationwide search would begin for a successor. Provost Barry Brown will be interim president at the Boston school.
The 79-year-old Sargent graduated from Suffolk Law School in 1954 and became a professor two years later. He was named president in 1989.
The Chronicle of Higher Education said Sargent reported $2.8 million in compensation for 2006-2007, making him the country's highest-paid president in that year's survey. But much of it came from bonuses, including money he would not receive until retirement.