David Joyce has resigned from his position as president of Averett University after just three months, primarily due to his wife's health issues. Joyce, who had a long history in leadership roles at various colleges, took the position earlier this year following the retirement of Tiffany Franks. His resignation occurs as the university faces severe financial difficulties, leading to layoffs, program deletions, and ongoing lawsuits against a former CFO for alleged financial mismanagement. Venita Mitchell has been appointed acting president while a search for his replacement begins.
Averett University has appointed Venita Mitchell as acting president following David Joyce's resignation due to his wife's health issues after just three months in the role.
Joyce's departure occurs amid serious financial struggles at Averett University, including layoffs and program cuts, attributed to alleged financial mismanagement by a former employee.
The university is currently facing significant challenges maintaining $14 million in bond obligations and has even placed its Equestrian Center on the market to raise funds.
A lawsuit allegations claim the former CFO and an investment firm colluded to cover up budget deficits and drained nearly $20 million from Averett's endowment.
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