Larry Penley, the president and chancellor of Colorado State University, unexpectedly resigned his position Wednesday via a letter to the system’s Board of Governors, effectively ending his five-year reign at the state’s second-largest public university.
His resignation, effective Nov. 30, comes weeks after an investigation by The Colorado Independent highlighted
Penley's efforts to shift state funds away from the university's academic colleges and library system while injecting cash to the school’s athletics department and nearly tripling the budget of his own Office of the President. The investigation
sparked criticisms and concern from longtime CSU faculty members and state lawmakers, who questioned Penley's shift of public funding to nonacademic functions.