Typically they involve a business leader who has been successful in a large company, and can then provide guidance and advice.
A number of universities overseas, particularly in business schools, have a CEO-in-residence to help mentor students. Powell said he would be looking to some of these universities to see how he could best help at Massey.
The pro-vice chancellor of the Massey business school, Ted Zorn, said the university had developed a strong relationship with Powell during his time at The Warehouse.
"Mark's support for our new bachelor of retail and business management was instrumental in its successful establishment and the Warehouse Group, under his leadership, has provided funding for research into key issues faced by organisations and workers," Zorn said
"We are extremely fortunate to have someone of his calibre joining our team, someone who understands Massey's goal of being an entrepreneurial university that is closely connected to the business community."
Powell said he would miss the Warehouse Group but not the daily intensity of working for a large corporate. He planned to split his time between the university, working in the faith-based non-profit sector and on his third masters degree. Powell already had two bachelors and two masters degrees.
"I'll be busy but there will definitely be more time for family and personal growth, including further education."