In a recent development, the president of Western New Mexico University has stepped down amid concerns regarding his expenditures related to international trips as well as inappropriate use of a university credit card by his spouse. This resignation, which is effective January 15, has been negotiated as part of a deal that provides him with a considerable sum of $1.9 million and guarantees him a new teaching role.

Joseph Shepard’s resignation follows an audit by the New Mexico state auditor’s office, which revealed significant lapses in financial oversight by the university’s senior leadership and regents. The audit disclosed over $363,000 in expenditures that did not adhere to university policies and practices. According to reports, Shepard is set to receive a one-time payment equivalent to five years of salary—in addition to his new position in the business school at the university, which offers an annual compensation of at least $200,000.

The university’s board of regents approved this agreement with a unanimous vote of 5-0. During the meeting, Shepard openly asserted that the allegations leveled against him were unfounded, labeling them as falsehoods. He quoted, “A lie gets halfway around the world before the truth gets its boots on,” in an apparent reference to the nature of the claims being circulated.

Questions surrounding Shepard’s financial conduct were first raised by state lawmakers last year as they scrutinized his practices related to luxury traveling and extravagant office furnishings. Despite the growing criticism, the regents expressed their continued support for Shepard during this turbulent period.

In response to the accusations, university representatives emphasized their commitment to fiscal responsibility and outlined their adherence to “rigorous fiscal standards” aimed at ensuring optimal utilization of funds for students, faculty, staff, and the broader community.

Western New Mexico University has a rich historical background, with roots that trace back to the 1890s, well before the state achieved admission to the Union. Shepard assumed the role of president in 2011 after a lengthy 16-year tenure at Florida Gulf Coast University, where he held various administrative positions. Notably, his wife, Valerie Plame, is recognized as a former CIA operations officer and ran for congressional office in New Mexico’s 3rd District during the 2020 Democratic primary but was unsuccessful.