The University of Cumbria has today confirmed that Peter McCaffery, its vice-chancellor, has left the post with immediate effect.
The university has refused to comment on the circumstances surrounding his departure, which comes after a period of financial turbulence at the institution.
A statement released on behalf of Peter Ballard, chair of Cumbria’s board of directors, says: “I regret to announce Peter McCaffery is leaving the university. In the time Peter has been with us, he has made a huge contribution to developing and promoting the university both in the region and nationally. Peter has a great deal to contribute in the field of higher education and I wish him well for the future.”
The university has found itself in a precarious financial position over the past year.
In April, it was revealed that Cumbria had a deficit of more than ?13 million at the end of the 2008-09 financial year, and had spent nearly ?1 million on consultancy fees.
The institution may also see its teaching grant reduced by more than ?1 million in 2010-11 as a result of student over-recruitment this academic year.
Liz Beaty, director of strategic academic practice and partnership at Cumbria, has been named acting vice-chancellor.