UPDATED 3/9, 10 a.m. with details on Stone's resignation, as well as with copies of Stone and Genshaft's letters to the USF Sarasota-Manatee community.
In a letter to the campus community, Stone said she is stepping down to what she referred to as a "family situation." The Bradenton Herald reports that Stone's mother has been sick.
In addition, the school has been under pressure from USF's Board of Trustees for missing fund-raising goals for the last six years.
Stone will return to USFSM at the beginning of next academic year as a faculty member.
She joined the university in late 2014 after serving as Vice President for Academic Affairs at Dalton State College in Georgia. Her husband is a USF graduate.
In a separate email to the USF community, System President Judy Genshaft said Regional Vice Chancellor for Academic and Student Affairs Terry Osborn will serve as interim Regional Chancellor while a national search for a replacement is conducted.
Osborn previously held the position on an interim basis during the search that brought Stone to USF Sarasota-Manatee. Dr. Arthur Guilford served as Regional Chancellor for seven years before retiring in 2014.
Here is Stone's letter to the USF Sarasota-Manatee faculty and staff:
Dear Campus Community,
After a great deal of consideration, I have determined that it is best that I step down from my position as Regional Chancellor in order to attend to my current family situation, as I find that I am unable to devote the time needed to the institution.
I will be away from campus until the beginning of next academic year, when I will return as a faculty member.
It has been a great honor and privilege to serve as your Regional Chancellor, and I appreciate all of the support I have received from all of you. I continue to be committed to the success of USFSM and our students and look forward to joining you again in August.
Here is President Genshaft's letter to the USFSM community:
Dear USF Sarasota-Manatee Faculty, Staff and Students,
This morning I accepted Regional Chancellor Stone’s resignation. I would like to thank Dr. Stone for her service to USF Sarasota-Manatee and the USF System and wish her well in her new or continuing pursuits.
With the immediate resignation of Dr. Stone, I am pleased to announce that Dr. Terry Osborn, Regional Vice Chancellor for Academic & Student Affairs, will serve USF Sarasota-Manatee as interim regional chancellor while we begin a national search.
Dr. Osborn is an obvious choice to lead USF Sarasota-Manatee while we conduct a thorough national search for the right person as our new regional chancellor.
He is a respected academic leader who has cultivated relationships within the community and who will keep USF Sarasota-Manatee moving forward on its path to excellence. He knows the institution and the community, he understands the USF System and he is committed to the success of our students.
Once we have updated the position description, I will put together a committee comprised of key stakeholders, including faculty, students, staff and community and business leaders who will consider candidates. The committee will work with Storbeck/Pimentel Firm in developing a slate of qualified candidates to interview.
We are all looking forward to working with you closely and keeping the campus focused on its many exciting new projects. Thank you for your continued service and support.
President, USF System