Latest news with #NigelSeaton
The Independent
02-07-2025
- Business
- The Independent
Interim finance chief at cash-strapped university quits after days in post
Cash-strapped Dundee University is looking to replace its chief finance officer, who quit after just over a week in the post. Chris Reilly, who took on the role on an interim basis days at the start of last week, has left the university by 'mutual agreement'. Dundee University is grappling with a financial crisis which has resulted in the Scottish Government using special powers to award a further £40 million to the institution. Faced with a £35 million deficit, the university is looking to cut hundreds of jobs. Professor Nigel Seaton, Dundee's interim principal and vice chancellor, confirmed Mr Reilly's departure in a message to staff – saying the institution is 'moving quickly' to replace him. Prof Seaton, who himself only took on the role after the previous interim principal quit last month, said Mr Reilly's replacement would help take the university through the 'next steps' of its recovery plan. Previous interim principal Professor Shane O'Neill quit the post in June after a report by former Glasgow Caledonian University principal Professor Pamela Gillies was critical of him and other former senior Dundee University figures for their actions before the scale of the crisis became public. That report found members of the university executive group, which included the 'triumvirate' of Prof O'Neill, former principal Professor Iain Gillespie and ex-chief operating officer Jim McGeorge, had 'failed' to 'properly respond to the worsening situation' with the institution's finances in 2024.
Daily Mail
02-07-2025
- Business
- Daily Mail
Finance chief at cash crisis Scots university quits after just eight days in the job
A cash-strapped university has been plunged into further turmoil after its chief finance officer left just days into his new job. Staff at the University of Dundee were yesterday told Chris Reilly had left the position by 'mutual agreement' just eight days after starting the job. Mr Reilly, who the university said had a 'wealth of experience', only joined the beleaguered university last Monday. It is the latest issue to rock the university, which is slashing its headcount amid a £35 million deficit, and comes just days after its former principal Prof Iain Gillespie said he was 'incompetent' and not corrupt. Mr Reilly was appointed to be its interim chief financial officer for 18 months, but yesterday staff were told of his departure. In a campus-wide email Prof Nigel Seaton, the current interim principal and vice chancellor, revealed Mr Reilly has 'left the university by mutual agreement'. Prof Seaton, who took over last month after Prof Shane O'Neill quit as principal following a scathing independent report into the cash crisis, said: 'We are moving quickly to appoint a new interim director of finance who will take us through the next steps of the university recovery plan for submission to the Scottish Funding Council.' Mr Reilly joined the university on June 23, and the institution said he brought a 'wealth of experience' across a range of sectors including 'higher education, charities, healthcare and multisite retailing and catering, with substantial governance experience'. Informing staff of his appointment, as part of its financial recovery plan, the university said: 'Chris is initially being appointed for an eighteen-month period. 'This is a vital appointment as we move through the next stages of our financial recovery.' University bosses are now on the hunt for their fourth finance chief in less than a year. Mr Reilly replaced Helen Simpson, who served in the role for seven months before her own exit. Before then, in early October 2024, Peter Fotheringham left. The university, which has secured a £62m taxpayer bailout, is seeking to cut as many as 300 jobs to cope with its multi-million pound deficit. In an excruciating Holyrood appearance last week former principal Prof Gillespie, who was paid £305,000 a year before he quit in December, denied being a liar, a coward, and a 'good time Charlie' but did admit he was 'incompetent'. When the university was hit with a scathing report by Prof Pamela Gillies last month, Prof O'Neill and two senior members of the university's governing body immediately quit. It found that poor financial management and bad decisions were behind a 'self-inflected' black hole, with red flags clearly visible on Prof Gillespie's watch. She found there were numerous points in which a 'reasonable person' could have realised the financial situation was worse than presented.
The Herald Scotland
02-07-2025
- Business
- The Herald Scotland
Interim finance chief at cash-strapped university quits after days in post
Dundee University is grappling with a financial crisis which has resulted in the Scottish Government using special powers to award a further £40 million to the institution. Faced with a £35 million deficit, the university is looking to cut hundreds of jobs. Professor Nigel Seaton, Dundee's interim principal and vice chancellor, confirmed Mr Reilly's departure in a message to staff – saying the institution is 'moving quickly' to replace him. Prof Seaton, who himself only took on the role after the previous interim principal quit last month, said Mr Reilly's replacement would help take the university through the 'next steps' of its recovery plan. Previous interim principal Professor Shane O'Neill quit the post in June after a report by former Glasgow Caledonian University principal Professor Pamela Gillies was critical of him and other former senior Dundee University figures for their actions before the scale of the crisis became public. That report found members of the university executive group, which included the 'triumvirate' of Prof O'Neill, former principal Professor Iain Gillespie and ex-chief operating officer Jim McGeorge, had 'failed' to 'properly respond to the worsening situation' with the institution's finances in 2024.
Yahoo
02-07-2025
- Business
- Yahoo
Interim finance chief at cash-strapped university quits after days in post
Cash-strapped Dundee University is looking to replace its chief finance officer, who quit after just over a week in the post. Chris Reilly, who took on the role on an interim basis days at the start of last week, has left the university by 'mutual agreement'. Dundee University is grappling with a financial crisis which has resulted in the Scottish Government using special powers to award a further £40 million to the institution. Faced with a £35 million deficit, the university is looking to cut hundreds of jobs. Professor Nigel Seaton, Dundee's interim principal and vice chancellor, confirmed Mr Reilly's departure in a message to staff – saying the institution is 'moving quickly' to replace him. Prof Seaton, who himself only took on the role after the previous interim principal quit last month, said Mr Reilly's replacement would help take the university through the 'next steps' of its recovery plan. Previous interim principal Professor Shane O'Neill quit the post in June after a report by former Glasgow Caledonian University principal Professor Pamela Gillies was critical of him and other former senior Dundee University figures for their actions before the scale of the crisis became public. That report found members of the university executive group, which included the 'triumvirate' of Prof O'Neill, former principal Professor Iain Gillespie and ex-chief operating officer Jim McGeorge, had 'failed' to 'properly respond to the worsening situation' with the institution's finances in 2024.
The Herald Scotland
02-07-2025
- Business
- The Herald Scotland
Dundee University finance chief quits after just eight days
In an email first viewed by the Courier, University Principal Nigel Seaton told staff: "We are moving quickly to appoint a new interim director of finance who will take us through the next steps of the University Recovery Plan for submission to the Scottish Funding Council." Read more: Former Dundee University boss paid six months' salary as he quit Dundee University redundancies cut in half as part of new recovery plan Minister refuses to confirm £100 million lifeline for Dundee University Professor Seaton assumed the top position at the university on June 20th after former office-holder Shane O'Neil quit in the wake of a damning report on the institution's finances. Dundee University has been approached for comment. More to come...
