Craven Williams abruptly retired on Tuesday after 16 years as president of Greensboro College, in North Carolina, the Methodist institution’s trustees announced today. He had been credited with helping to revive the college after he became president in 1993, but in recent years has presided over an institution struggling with mounting debt and a severe cash crunch.

The scope of the college’s financial problems came to light in April, when Mr. Williams surprised faculty and staff members by announcing layoffs and a temporary, 20-percent pay cut across the board. Just last November, he had said that while the college was looking to trim expenses, it anticipated no layoffs and would go ahead with 2-percent raises planned for January.

According to the News & Record, a local newspaper, faculty leaders had been planning to call for a vote of no confidence in his leadership this week. —Charles Huckabee