Howard University president Sidney Ribeau announced Tuesday that he will be stepping down from his position at the close of this year.
Ribeau, 65, has served as the historically black university’s president for the last five years.
The announcement comes as somewhat of a surprise, after Ribeau signed a contract extension this summer that would have made him president through the 2014-2015 school year.
Management of the Washington D.C. university’s funds came into the spotlight in June when a letter from the board of trustee’s vice chairwoman Renee Higginbotham-Brooks to fellow trustee members was leaked to the Chronicle of Higher Education.
In the letter, Higginbotham-Brooks cited the lack of a fundraising infrastructure, the decline in student enrollment, and the expected decline in federal support as important issues that need to be addressed.
Ribeau stated that he was not forced to step down, and Howard’s board of trustees appointed Wayne A.I. Frederick, Howard’s provost since June 2012, as interim president, according to the Washington Post.
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