A statement from University of Virginia President Teresa A. Sullivan:

Michael Strine resigned his position as Executive Vice President and Chief Operating Officer, effective today.

Michael has had great enthusiasm for strategizing and implementing change and I have appreciated his energy and assistance during the past year.
 
Michael recently determined that it would be in the best interest of the University that he step down and allow me to do some necessary internal restructuring. As Michael expressed to me: “In all my work here, I focused on working with our leadership across the University to help serve students, patients, faculty and communities across the Commonwealth.  Though it is hard to step aside, I am confident that  this step helps the University and those it serves by allowing this Board and President the opportunity to pursue changes aimed at ensuring communication, accountability and shared governance.”
 
I have accepted Michael’s resignation with gratitude for his contributions and dedication to the University. I know that his leadership skills and commitment to higher education will bring him success in his future pursuits.
 
The University is in strong financial standing, and maintains its triple-A bond rating from all three of the rating agencies. We also have extraordinary depth in all of our financial offices. I feel confident that we will not skip a beat while we begin a national search for a new financial leader.