It was only a matter of time. As I watched this tragic event unfold over the last couple of weeks, I did not see any other possible ending. If you are new to this controversy check out our previous posts here.
Here is the press release:
Emmitsburg, MD (February 29, 2016) Mount St. Mary’s University today announced the resignation of its president, Simon Newman, effective immediately. Karl Einolf, Ph.D., Dean of the Richard J.Bolte, Sr., School of Business has been named by the Mount St. Mary’s University Board of Trustees as the school’s acting president.
“The board is grateful to President Newman for his many accomplishments over the past year, including strengthening the University’s finances, developing a comprehensive strategic plan for our future, and bringing many new ideas to campus that have benefitted the entire Mount community,” said John Coyne, Chairman of the Mount St. Mary’s University Board of Trustees. “We thank him for his service.”
“I am proud of what I have been able to achieve in a relatively short time particularly in helping the University chart a clear course toward a bright future,” said Simon Newman. “I care deeply about the school and the recent publicity relating to my leadership has become too great of a distraction to our mission of educating students. It was a difficult decision but I believe it is the right course of action for the Mount at this time.”
Before Einolf’s appointment to Dean of the Bolte School of Business in 2012, he served on the faculty as a professor of finance. He was a recipient of the University’s Richards Award for Teaching Excellence, and he served for six years as the Director of the Mount’s Honors Program. He has published papers in numerous business and economics journals, and has presented his work at national and international conferences. Before joining the Mount in 1998, Einolf served the Sprint Corporation in various finance, marketing, and human resource positions.