Stockton University President to Resign
In a letter to Board of Trustees yesterday, Herman Saatkamp — the president of Stockton University in Galloway Township, N.J. — announced he would be resigning at the end of August. The Press of Atlantic City first reported the news.
Things have been tumultuous at Stockton in recent months. Late last year, Stockton bought the former Showboat Casino for $18 million to use as an “island campus” in Atlantic City. But the owners of the Trump Taj Mahal objected to the conversion, citing a 1988 covenant that said Showboat must be used for a casino. Two Stockton board members have left since December.
In the letter to the board, Saatkamp — who has been president of Stockton since June 2003 — cited health concerns and “the demands I expect of myself from the office” as the reasons for his resignation.
Saatkamp’s last day will be August 31st. He writes of the island campus in his letter:
“Even if we do turn away from the Island Campus, I hope Stockton will continue to support its programs in Atlantic City while serving a diverse population and providing educational opportunities, professional development and economic stability where it is greatly needed.
Living a life that is worthwhile has always been my goal. Turning away from an opportunity that could make a major difference in the revitalization of Atlantic City and for Stockton University makes the presidency less worthwhile to me, and fortunately I am in a position where leaving the presidency and continuing my scholarship are worthwhile.
Stockton reached an agreement with Glenn Straub, the new owner of the former Revel casino, to sell the Showboat casino to him for $26 million. Straub told the Press he intends to keep the agreement despite Saatkamp’s resignation.
Read Saatkamp’s full resignation letter below.