Of course he has a PhD in education, but he also had extensive business experience and an MBA in finance.
He constantly battled with his fellow 'academics' to impart solid business practices into the university management.
He had responsibility for all of the satellite campuses, and set them up as individual profit centers - they began to make serious money, and became self-sufficient.
Upon his retirement, of course his position was filled with an academic.
All of the satellite campuses were raped for funding, and folded back into the main campus budget.
The satellite campuses are all now struggling to stay afloat, and the university as a whole is suffering badly.
Your assessment is exactly correct.