Why replace him at all?
School administrators don't really do anything and are vastly over paid for their troubles. I once asked a professor or Education Administration at Illinois what a superintendent did and he thought for a moment, shrugged and said, "Well, they go to lunch a lot." At the university level I think the presidents go to dinner a lot and attend conferences to hob knob with their fellow wizards, but I can't see that they are worth the money they demand.
Why not take this opportunity and delete the job and save a bundle. An accountant and a secretary or two can probably keep track of the money pretty well and all those political appointees can "make policy" and go to dinner at their own expense.
Illinois, under this plan, could be an inspiration and a model for other universities that are run by political appointees across the country.