CHARLOTTE, N.C. -- United Way Board of Directors Chairman Graham Denton has resigned after fallout from a NewsChannel 36 investigation that revealed a multi-million dollar retirement package given to the group's former CEO.

Denton served as chairman of the board and was also a member of the executive committee that made the controversial decision to offer a $2 million retirement plan to former CEO Gloria Pace King.

Denton presided over a board meeting last week in which the board unanimously called for the ouster of King. Denton said the board thought it needed a fresh start but no board members had resigned at that point.

Since then at least three United Way board members resigned, including Charlotte Observer publisher Ann Caulkins.

In a letter to the board, Denton wrote, "Many of you have lost confidence in me as your board chair. Some have even expressed a sense of betrayal at your board leadership."

Graham Denton

•  Read the resignation letter

Wachovia Executive Vice President Carlos Evans will take over as chairman.

In more signs of the shakeup, earlier Wednesday United Way spokeswoman Dani Stone said the United Way would not set a specific dollar figure for its campaign goal for the first time in 14 years.

Rather, Stone said, the United Way campaign would focus on restoring public trust. That campaign kicks off on Friday morning.