Jeff Mason, 27-year principal at Bay State College and its temporary president Since March 2022, he has resigned from his position earlier this week, in an email sent to students and staff obtained by WBUR.
The development is just the latest shock for the small for-profit, which is set to lose its accreditation on August 31, after years of declining enrollment and financial troubles.
College leaders said in a statement Friday that Mason’s resignation was “voluntary and for personal reasons,” and they declined to share more information.
The Bay State Board of Directors has named Kevin Derevan as interim acting president, according to the student and staff email.
according to His LinkedIn profileDerrivan has served as CFO for both Bay State College and Ambow Education USA since December 2020. Ambow Education is the China-based holding company for Bay State College — it purchased the 77-year-old college in 2017.
The leadership shift comes as the Back Bay organization has turned a corner in what has been a vexing real estate dispute.
College leaders said Friday that they have negotiated a settlement with their landlord, OMV Park Square, over more than $720,000 in unpaid rent. “The two parties have reached an agreement signed by [August 31] The complaint has been withdrawn.”
The Bay State was facing possible eviction from its space on the second floor of a high-rise building in Back Bay, and a trial over the matter was scheduled for April 12 in Boston Municipal Court.
In the email, the board wrote that staff are working with the state’s Department of Higher Education “to ensure that any students who do not graduate by August 31 will have multiple transfer options in the event of a shutdown.”
It also identified three priority areas for Derrivan’s term: among them, “maintaining a high-quality college education for every current student through August” and helping facilitate those transfers.
Derevan is also tasked with exploring potential partnerships with other institutions, “particularly with regard to [Bay State’s] “Exceptional Nursing Programs,” says the email.
It is not yet clear if there are parties interested in acquiring all or part of the Bay State programs.
In January, Bay State-accredited New England Commission on Higher Education Chairman Lawrence Schaal suggested to WBUR that, in general, New England colleges are more likely to consolidate rather than close, given the region’s many higher education institutions and institutions. Entrepreneurial nature.
Finally, the college said Derevan and a staffing team will “begin overseas placement assistance programs” in the coming weeks for Bay State employees looking for future jobs.