Western New Mexico University’s President Joseph Shepard has announced his resignation amidst scrutiny over spending on overseas trips and his wife’s use of a university credit card. This decision follows an investigation by the New Mexico state auditor’s office which found that university officials and the board of regents had failed to uphold their fiduciary responsibilities, with more than $363,000 in non-compliant spending cited in the audit.
As part of the resignation deal, Shepard will receive a one-time payment of $1.9 million, equivalent to five years’ worth of his salary as president, and has secured a teaching position at the university’s business school for the next five years with an annual salary of at least $200,000.
Despite facing accusations, Shepard vehemently denied any wrongdoing at the board of regents’ meeting where the deal was approved with a 5-0 vote. The university’s statement emphasized its commitment to fiscal responsibility and maximizing resources for the benefit of students and the community.
Shepard, who has been president since 2011, has had a long career in higher education administration, previously serving at Florida Gulf State University. His wife, Valerie Plame, is a former CIA operations officer who ran for congress in 2020.
Source
Photo credit abcnews.go.com