The University of Cumbria has today confirmed that Peter McCaffery, its vice-chancellor, has left the post with immediate effect.

The university has refused to comment on the circumstances surrounding his departure, which comes after a period of financial turbulence at the institution.

A statement released on behalf of Peter Ballard, chair of Cumbria¡¯s board of directors, says: ¡°I regret to announce Peter McCaffery is leaving the university. In the time Peter has been with us, he has made a huge contribution to developing and promoting the university both in the region and nationally. Peter has a great deal to contribute in the field of higher education and I wish him well for the future.¡±

The university has found itself in a precarious financial position over the past year.

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In April, it was revealed that Cumbria had a deficit of more than ?13 million at the end of the 2008-09 financial year, and had spent nearly ?1 million on consultancy fees.

The institution may also see its teaching grant reduced by more than ?1 million in 2010-11 as a result of student over-recruitment this academic year.

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Liz Beaty, director of strategic academic practice and partnership at Cumbria, has been named acting vice-chancellor.

sarah.cunnane@tsleducation.com