Dundee University's new chief finance officer has left the cash-strapped institution after eight days. Chris Reilly only joined the university, which is trying to reduce staff numbers as it faces a £35m deficit, last Monday. The university said Mr Reilly had left the role by mutual agreement and it was "moving quickly" to appoint his replacement. It said his successor would take the university through "the next steps" of its recovery plan for submission to the Scottish Funding Council Mr Reilly's appointment was announced in May for what was initially thought to be an 18-month period. The university said at the time it was a "vital appointment" and that he brought a wealth of experience across a number of sectors. His predecessor Helen Simpson only served in the role for seven months. Last month Dundee University's interim principal and two senior members of its governing body quit after a damning report into its financial collapse. The independent report said university bosses and its governing body failed multiple times to identify the worsening crisis and continued to overspend instead of taking action. The same week the Scottish government announced the university will receive an extra £40m to help it out of the financial crisis.
Dundee University chief finance officer quits after eight days
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"Dundee University Chief Finance Officer Resigns After Just Eight Days"
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TruthLens AI Summary
Dundee University has experienced a significant leadership change as its newly appointed chief finance officer, Chris Reilly, has left the institution just eight days after starting in his role. His departure, described by the university as a mutual agreement, comes at a critical time when the university is grappling with a substantial £35 million deficit. The institution is currently engaged in efforts to reduce its workforce and restructure its financial operations. Following Reilly's exit, Dundee University has expressed its commitment to swiftly appoint a successor who will guide the institution through the next stages of its recovery plan, which is to be submitted to the Scottish Funding Council for consideration. Reilly's appointment was initially announced in May and was intended to last 18 months, highlighting the urgency and importance of the role amid the university's financial difficulties. His predecessor, Helen Simpson, had a brief tenure of only seven months, raising concerns about stability in the financial leadership of the university.
The backdrop to Reilly's rapid departure includes a recent independent report that criticized the university's governing body and its leadership for failing to adequately address the escalating financial crisis, which was exacerbated by continued overspending. This report led to the resignation of the university's interim principal and two senior governing body members last month, further compounding the leadership challenges faced by the institution. In an effort to alleviate the financial strain, the Scottish government has announced an additional £40 million in funding to assist Dundee University in navigating its ongoing financial crisis. The university's leadership is now under significant pressure to implement effective strategies that will not only stabilize its finances but also restore confidence among stakeholders, including students and staff, as it moves forward with its recovery initiatives.
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