A New York college has parted ways with its president after questions were raised about her personal expenses. The college, which was recently in the limelight when Michele Obama gave a commencement speech on its grounds, is now struggling to come to terms with the new development. Its president, Lisa Coico, had to resign unexpectedly amidst calls for state investigations on her.
Her decision to resign from her post was provoked by a recent article published in New York Times that questioned how she managed her documented $150,000 expenses. Her departure was treated as her consent, and nobody in the institution was willing to give concrete reasons why she resigned.
New York Times had shed some light on the credibility of Coico’s expenses. They were suspicious of a deal in 2011 that saw Coico benefit from a non-profit organization that raised funds for the college. The foundation paid Coico thousands of dollars as expenses. The expenses included food, furniture and housekeeping. When the news broke out, the Eastern District of New York attorney issued a subpoena to Coico to get more information on the matter.
Coico’s resignation was treated with a lot of privacy with the College University of New York chancellor James Milliken refusing to go into details about her resignation. The chancellor only named an interim president as they await the official appointment in October. He lauded the excellent track record of City College and said that the institution would continue to train students for the real world.
The college have been on the forefront in training millions of Americans since it was started in 1847. The college has produced students in different fields. It has ten alumni who have won the Nobel Peace Prize. The school was chosen by the first lady Michele Obama as the venue for her last commencement speech as the first lady of the United States. When asked why she settled for the school, Michele said that she was impressed by the way the school is diverse. A thorough checking of facts reaffirmed her statement. The college has students from over 150 countries, and they speak more than 100 languages. People are waiting to see whether the recent scandal in the college can affect its good reputation.