Emeritus Chair was a high-ranking position in academia. After his discovery of the famed treasure of the Queen of Ranroon, S. V. Skynx was named Emeritus Chair of the University of Ruuria's Department of History.
Sources
Star Wars: The Essential Guide to Warfare Author's Cut, Part 3 - "Xim the Despot" on StarWars.com (backup link) (First mentioned)