Greene has three years left on his $2 million-plus-perks annual contract. Last year, he was the highest paid non-profit executive in the nation.

The resignation took place during an emergency board meeting of 38 Grammy trustees on Saturday that was held to discuss a sexual harassment probe commissioned by the Grammy organization, the Los Angeles Times reported, quoting unnamed Grammy sources.

Greene, 52, will receive an up to $8 million severance buyout, sources said. The Times reported that he was unavailable for comment.

The search for a new Grammy president has begun, the sources said, while Grammy chairman Garth Fundis takes over the reins.

The National Association of Recording Arts and Sciences, the Santa Monica-based non-profit group that stages the popular annual Grammy Awards, did not immediately comment.

The Saturday meeting ran for about eight hours and included a brief synopsis of the sexual harassment probe, for which Greene was present. After the findings, Greene gave an emotional resignation speech in which he cited philosophical differences with the board and said did not want to drag the organization through nasty litigation, according to Grammy sources close to the negotiations.

A lengthy discussion followed Greene’s speech, in which some board members voiced their support for the 14-year Grammy executive. But the board ultimately accepted his resignation, Grammy sources said.

Greene broke into the industry in the 1970s as a saxophonist and worked at recording studios and cable TV stations before joining the Grammy group in 1985 as an unpaid Atlanta chapter president. In 1988, he moved to Los Angeles and took over as Grammy president and chief executive.

When he took over, the organization had 14 employees, 3,500 members, and $4.9 million in assets. The Grammy organization currently has about 120 staffers, 17,000 members, and more than $50 million in assets.

Several months ago, Greene negotiated another five-year extension of the broadcast rights with CBS for more than $20 million annually.