It’s official: the president of the University of Illinois will be out by the end of the year.

The university just sent out a news release stating that B. Joseph White will resign effective Dec.31. Gov. Pat Quinn said earlier today that White’s resignation was imminent.

White handed in his letter of resignation to the Board of Trustees today. But he said he plans to continue to remain involved with the university in terms of fundraising and teaching after Dec. 31.

White, 62, has been president of the university system and its three campuses in Urbana-Champaign, Chicago, and Springfield since January 2005. But in recent months, he has become embroiled in a controversy over the admission of politically-connected students at the flagship campus of Urbana-Champaign. Last week, the Faculty Senate passed a resolution asking White and Chancellor Richard Herman to step down.

The admissions controversy has also led to the resignation of several board members. Quinn has appointed six new board members to replace them.

“I take this action to enable you as a newly constituted Board to select University leadership going forward,” White said in his resignation letter. “It has been a privilege for my wife, Mary, and me to serve the University community. We remain highly committed to the University of Illinois.”

The effective date of the resignation means that White will forgo a $475,000 retention bonus and the remaining 18 months on his contract.

“I am sensitive to the University’s difficult financial situation and the sacrifices being made by faculty and staff,” White wrote.

White’s contract allows him to resume teaching, the university said.

The board is expected to consider an interim appointment in the next couple of weeks.

Board chairman Christopher Kennedy commended White for his “exemplary” service, including leading the $2.25 billion fundraising capital campaign.

“My colleagues on the board and I appreciate that your resignation is motivated by serving the University’s best interests and is not intended to create any presumption of wrong-doing by you concerning the subjects investigated by the Governor’s Admissions Review Commission,” Kennedy wrote. “We recognize that you have taken this step to enable the University to move forward with a change of leadership so that the University community may come together to focus on critical issues confronting higher education in this State and in the nation.”

The Grade is the St. Louis region’s premier blog on education and child welfare. To read other recent posts, go to www.stltoday.com/thegrade.