NEW BRUNSWICK - President of Rutgers University Richard McCormick held a press conference about his resignation today.

Within the last year, the university faced the suicide of freshman Tyler Clementi in a cyber-bullying tragedy, and safety concerns that forced Rutgers Fest to be canceled for years to come.

McCormick says none of those incidents weighed in his decision to resign. McCormick says he'll devote his final year as president to raising money, ensuring the Robert Wood Johnson Medical School and school of Public Health become part of Rutgers and that a referendum on higher education funding is put on the 2012 ballot.

McCormick will take a one year paid sabbatical then return to Rutgers as a history professor earning $335,000 a year, making him the highest paid professor on campus.

Gov. Christie released a statement on McCormick's retirement, which said, "I wish Dick McCormick well and I look forward to working with him over the course of the next academic year as we continue implementing the recommendations of the Kean Commission of Higher Education. I thank President McCormick for his service to the University as a whole and the state of New Jersey."