Marymount University President Dr. Matthew Shank will be stepping down from his post next year.
In an email to members of the Marymount community, Shank said that he decided not to extend his contract, which ends on June 30, 2018.
Shank oversaw a period of growth for the Arlington-based university, including the opening of its new Ballston Center complex. His decision to step down was a surprise, said a source, noting that there was “not an inkling of it.”
The full email from Shank is below.
After much personal reflection and prayer, today I am announcing that this will be my final year serving as President of Marymount University. My second contract with the University ends on June 30, 2018, and although asked by our Board of Trustees to extended for a third term, I felt that it was best for me and Marymount to step down at this point in time.
Many significant accomplishments have or will come to closure by the end of this year. The strategic plan, Building the Institution of Choice, is in the final year of execution. The SACSCOC reaccreditation will reach its conclusion in the spring. Our new Master Plan is complete and, of course, the new Ballston Center has been built and truly reflects the image of Marymount. Our new athletics conference will be approved by the NCAA in February with competition to commence in the fall of 2018. I’m confident that our $40 million capital campaign goal will be met and exceeded at the end of this fiscal year, two years ahead of schedule. In short, these milestones are all coming to fruition this year and the timing is right for new leadership.
There are important goals for the university to achieve this fiscal year and, as you know, there is much work to be done. Please be assured that I will continue to work hard on behalf of Marymount until my term as President ends. The Board of Trustees has granted me the option of taking a year’s leave and then joining Marymount’s School of Business Administration in the fall of 2019 as a professor of marketing.
On a personal note, I want to thank everyone for their support in sometimes challenging times over the past seven years. Additionally, from the time we arrived on campus, everyone in the Marymount family has embraced my family with open arms. For that, Lynne, Grace, Olivia and I are forever grateful.
It has been an honor to be the President of Marymount University since starting my tenure in 2011. I will always be thankful for the opportunity to contribute to the success of our students and our university. I am equally grateful for the opportunity to build bridges between Marymount and the Greater Washington region, the nation and the world. Finally, it has been a joy to work with so many intelligent, passionate and genuinely caring colleagues. I look forward to even greater success for Marymount and contributing in whatever ways I can to ensure future growth.