University principal and senior staff quit after report on finances

The interim principal and vice-chancellor of the University of Dundee and two senior members of its governing body have stepped down following a report into the institution’s financial deterioration.

The investigation into the university’s finances was ordered after it announced there could be hundreds of job losses as it struggles to deal with a £35 million deficit.

Key findings from the report for the Scottish Funding Council include poor financial judgment, inadequate management and reporting, and lack of agility by leadership in responding to a fall in income.

Interim principal and vice-chancellor Professor Shane O’Neill has announced he is stepping down in the wake of the report.

He said: “It is with a very heavy heart, having committed myself fully to the recovery process over these past months, that I have decided to step aside from my position and will be leaving the university.

“It is important that the university can move on and I recognise that this will be easier with new leadership.”

The university also said Tricia Bey, acting chairwoman of the university court, and Carla Rossini, convenor of the finance and policy committee, who were both due to step down this summer, are now bringing this forward and leaving with immediate effect.