Bill Powers, the president of the University of Texas-Austin, has announced that he will step down from his post in June 2015. The announcement brings to a close a power struggle that has shaken the state in the past week, signalling the twilight of the eight-year reign of one of the most powerful figures in higher education. The outcome is a compromise between Powers and University of Texas Chancellor Francisco Cigarroa, who had demanded that Powers depart by October or else find himself fired at Thursday’s Board of Regents meeting. By serving for another year, Powers will be able to...