Richard Rubsamen tendered his resignation as president of Sierra Nevada College on Friday.

Provost Lynn Gillette will be the new president effective Nov. 1.

Board member and Finance Committee Chair Atam Lalchandani announced to staff and faculty on Oct. 7 that Rubsamen made the offer recognizing that administration costs were top-heavy. He further noted that Rubsamen’s leadership is evidenced in the continued success of the college over recent years.

“I was tasked by the board with planning for financial sustainability in order to insure the long term health of the college. It was clear to me where reductions had to occur. While the idea of leaving the college is very difficult, it is the right thing to do. I need to lead by example and practice what we teach,” Rubasmen said in a statement.

Adminstration and staff were asked to take cuts of 5 percent to 10 percent, while faculty saw no pay reductions. Rubsamen will continue at the college working with the board to ensure a smooth transition for several months.