Business expert: Not unusual for high-ranking officials to receive severance package, even if resigning

Resignation packages similar to the one approved for Horry County Schools’ superintendent – nearly $430,000 – are common among high-ranking executives, according to a business expert at University of South Carolina.

Superintendent Cindy Elsberry’s severance package totals $428,495 – excluding annuity – and includes health insurance, salary for six months and and a $5,100 travel allowance.

The school board voted to approve Elsberry’s resignation package 9-1, with only Kay Loftus, district 4, voting against the motion. Harvey Eisner, district 1, and Jimmy Washington, district 3, abstained from the vote since their terms expire this month.

Board Chairman Joe DeFeo said he cannot comment on Elsberry’s resignation because it pertains to personnel matters, which the board is not allowed to discuss publicly.