The University of Dundee’s efforts to stabilise its financial crisis have been dealt a fresh blow after its newly appointed interim chief finance officer stepped down just eight days into the job.

Chris Reilly, who began the role at the start of last week on what was initially announced as an 18-month appointment, has now left the university “by mutual agreement”.

His departure comes at a critical juncture for the institution, which is grappling with a £35 million deficit and preparing to cut around 300 jobs through a voluntary redundancy scheme.

Reilly’s exit was confirmed in a message to staff from interim principal and vice-chancellor Professor Nigel Seaton, who said the university is “moving quickly” to find a replacement. His successor, Seaton added, will be tasked with leading the next steps in the university’s financial recovery plan, which is due to be submitted to the Scottish Funding Council.

Reilly’s predecessor, Helen Simpson, served only seven months in the role.

The finance chief’s abrupt departure is the latest in a string of high-level exits as Dundee University contends with what has been described as one of the most severe financial crises to hit a Scottish university in recent years.

Last month, former interim principal Professor Shane O’Neill and two senior members of the university’s executive group resigned following a damning independent report into the university’s financial mismanagement.

The review, led by Professor Pamela Gillies, found that O’Neill, along with former principal Professor Iain Gillespie and ex-chief operating officer Jim McGeorge, had “failed” to respond appropriately to the worsening financial situation throughout 2024.

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The report criticised the executive group for continued overspending and for failing to act on early signs of financial instability. The fallout prompted the Scottish Government to intervene with an emergency £40 million funding package to help keep the university afloat.

Former university leaders, including Gillespie, gave evidence to a Scottish Parliament committee last week as scrutiny around governance and accountability at the institution continues to intensify.