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Sky News
17 hours ago
- Business
- Sky News
University of Dundee bosses quit after 'scathing' report into financial crisis
The interim principal of the University of Dundee and two senior members of its governing body have stepped down following a scathing report into the institution's financial deterioration that led to a £22m government bailout. The independent investigation into the university's finances was ordered after it announced there would be hundreds of job losses to address a £35m deficit. The Scottish Funding Council (SFC) - an arms-length public body of the Scottish government - provided a £22m support package. Key findings from the Gillies Report for the SFC 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 quit in the wake of the report. The university also said Tricia Bey, acting chair 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. Professor O'Neill 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." Members of the university executive group (UEG), which included the "triumvirate" of Professor O'Neill, former principal Professor Iain Gillespie and ex-chief operating officer Jim McGeorge, were found to have "failed" last year to "properly respond to the worsening situation" and disclose the looming crisis to other university officials. The report found the root causes of the financial issues included the decline in overseas postgraduate students coming to the university and the growth agenda proposed by leaders. According to the report, the "credibility and accuracy" of reports given to senior leaders regarding the financial situation were "poor". The report said there was "insufficient corroborated evidence" to suggest members of the executive team had sought to suppress information about the scale of the crisis, while there was "circumstantial" evidence. Prof Gillespie, who left the university last year when news of the crisis became public, was described as someone who "did not welcome difficult conversations". An email sent by the former principal in March of last year, claiming the university was "moving into a surplus position", was branded "misleading" by the report, while his management style was criticised, particularly in how he dealt with women. The report stated: "Female members of staff in particular reported being spoken over, sidelined or discussed in public as being obstructive if they attempted to be heard, and there were reports that the university policy on dignity and fairness was not upheld in a number of instances." Dr Ian Mair, deputy chair of court, the university's governing body, said: "There is much in this report on which we have to reflect. We will take a short time to digest the full implications of the report but we will act on the findings." Education Secretary Jenny Gilruth said it was "evident" from the report's finding that "there are serious questions which must be answered by the University of Dundee's management team". Ms Gilruth added: "Whilst the university is an autonomous institution which is ultimately responsible for decision-making around its day-to-day operations, the Scottish government will do everything possible to secure a positive future for Dundee. "I will be updating parliament with a more detailed statement on the findings of the report and on future government support next week." MSP Miles Briggs, the Scottish Conservatives' shadow cabinet secretary for education, branded the report's findings "damning". He added: "The report is scathing about the inexcusable failures by those in leadership roles.
The Independent
19 hours ago
- Business
- The Independent
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.
Scotsman
19 hours ago
- Business
- Scotsman
University bosses quit after 'devastating' report into financial crisis
An independent report found Dundee University's financial collapse was 'self-inflicted' Sign up to our Politics newsletter Sign up Thank you for signing up! Did you know with a Digital Subscription to The Scotsman, you can get unlimited access to the website including our premium content, as well as benefiting from fewer ads, loyalty rewards and much more. Learn More Sorry, there seem to be some issues. Please try again later. Submitting... The interim principal and vice-chancellor of Dundee University and two senior members of its governing body have quit in the wake of a 'devastating' report into its financial collapse. Professor Shane O'Neill, who took over in December and was previously deputy vice chancellor, said he was 'truly sorry' for the impact on staff and students as he announced his departure with a 'heavy heart'. Advertisement Hide Ad Advertisement Hide Ad It comes after an independent report found the failure of the university's financial governance system was 'self-inflicted and experienced multiple times and at multiple levels'. Dundee University | National World It said failures were compounded by a 'top-down, hierarchical and reportedly over-confident style of leadership and management, a lack of transparency and clarity in respect of financial data, the promulgation of a positive narrative around financial matters and a culture in which challenge was actively discouraged'. 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 from court this summer, are now bringing this forward and leaving with immediate effect. 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. It was was commissioned by the Scottish Funding Council, led by Prof Pamela Gillies and conducted by international professional services firm, BDO. Advertisement Hide Ad Advertisement Hide Ad In her foreword, Prof Gillies wrote: 'The main causal factors of the financial failure uncovered by this investigation are largely specific to the University of Dundee. 'They include poor financial judgement, inadequate management and reporting, poor monitoring of the financial sustainability key performance indicator, lack of agility in responding to a fall in income by the University leadership and weak governance in relation to financial accountability by the Court. Financial oversight was lacking when most needed. 'These failings were compounded by the top-down, hierarchical and reportedly over-confident style of leadership and management, a lack of transparency and clarity in respect of financial data, the promulgation of a positive narrative around financial matters and a culture in which challenge was actively discouraged.' Dundee-based Scottish Labour MSP Michael Marra said: 'This devastating report lays bare the financial vandalism and appalling leadership that has tipped the city's most important institution into an existential crisis. Advertisement Hide Ad Advertisement Hide Ad 'I am grateful to Professor Gillies for her work in uncovering the details of this scandal. She has been clear that this is an outstanding institution with committed, excellent staff doing world-leading work. 'The report shows that the institution was failed catastrophically by a small group of executive leaders entirely out of their depth and cowed by a hubristic Principal who brooked no dissent. 'Details of Iain Gillespie's leadership style are deeply troubling - sidelining, speaking over or publicly criticising women in the university who dared to speak up. 'There were also clear failures of governance, with inaccurate reports which masked the true financial picture and public statements by the principal that were purposefully misleading. Advertisement Hide Ad Advertisement Hide Ad 'The so-called 'triumvirate' of the Principal, his Deputy and now Interim Principal and the Chief Operating Officer opened this proud university to the greatest risks of a broken funding system in Scotland. 'It is right that the Interim Principal has recognised his position is untenable - but the lessons of this go beyond a single institution. 'The Scottish Government must reckon with the fact that it has made all Scottish universities vulnerable to this kind of crisis, if they and the communities they serve have the misfortune of being led by a management so clearly out of its depth.' Scottish Conservative education spokesman Miles Briggs said: 'This is a devastating report into the gross mismanagement that has existed for far too long at the University of Dundee. Advertisement Hide Ad Advertisement Hide Ad 'In light of the damning findings it is welcome they have done the right thing and resigned from their roles instantly.
Yahoo
19 hours ago
- Business
- Yahoo
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. The findings of the independent investigation into the financial challenges facing the University of Dundee have been published — Scottish Funding Council (@ScotFundCouncil) June 19, 2025 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.
BBC News
20-03-2025
- Business
- BBC News
Dundee University has £22m funding deal approved by the Scottish Funding Council
The Scottish Funding Council (SFC) has approved a £22m support package for Dundee University as the institution attempts to tackle a £35m funding black hole.A senior university figure had told MSPs that insolvency was a "real possibility" with more than 600 jobs to be cut to save chair of court Tricia Bey said without financial support from the SFC the university would run out of money by the end of SFC - which is an arms-length public body of the Scottish government - said its £22m package would be a mix of low-cost loans and capital grant. Its chief executive Francesca Osowska said the council recognised "the significant uncertainty and anxiety that staff and students are experiencing at the University of Dundee".She added: "Given the important role that the University plays in the city and the surrounding region, we also acknowledge the concerns of the wider community."The University of Dundee is a world-leading institution with a rich heritage in delivering excellent student outcomes and world-leading research."We are committed to supporting the University, and the funding approved by the SFC Board today will support the University as it develops its financial recovery plan to return to a position of financial health." Job cuts The university's interim principal Prof Shane O'Neill told the Scottish Parliament's education committee on Wednesday he was given the "false assumption" last year that the university was close to breaking even despite having a £12.3m operating deficit at the O'Neill announced last week that 632 jobs would be cut at the university to address the eight-figure head of an independent investigation into the university's financial situation is expected to be announced this week. Continue story here and add links below
