“As with any deeply personal relationship and within every family, there are complex nuances that, if and when brought to light, due to surface appearance and the absence of context, are exceptionally difficult for others to understand,” he wrote. “And ironically, the reality is that perceptions matter.
“I have therefore concluded that my work here at the Farmer School will come to a close at the end of the semester, in no small part because this will complete a most unfortunate chapter in Miami’s history that has simply gone on too long,” he continued.
In 2005, Jenkins entered into a business consulting arrangement with Tom Petters in 2005 for $1.75 million and 22,000 shares of stock in a company Petters owned. Jenkins said he helped create executive development programs for executives with the Petters companies.
Then in 2009, Petters was convicted of running a $3.5 billion Ponzi scheme and is now serving a 50-year prison term.
Last week, Jenkins agreed to return $1.25 million to a court-appointed receiver and the stock in a company now known as Enable Holdings Inc., which was traded at less than a penny a share last week. The settlement was disclosed in court records by the receiver seeking money to pay victims.
He has served as dean since July 2002.
In the letter, Jenkins praised his staff for their “tireless and sincere dedication to an increasingly rare ideal, that service in higher education is a selfless calling and an investment less in one’s self than in the common good.”
“As dean of the Farmer School these last 10 years, I have seen the impact that a faculty and staff truly dedicated to excellence in undergraduate education can have,” Jenkins said.
During his tenure, the Farmer School became a BusinessWeek top 25 undergraduate business school; its undergraduate business program is ranked 8th in the nation among public universities and is the highest ranked in Ohio.
“We admire and respect Dean Jenkins’ decision. He has worked tirelessly on behalf of the Farmer School and Miami, greatly enhancing the quality and the reputation of both the Farmer School and the University,” said David Hodge, university president. “We are deeply grateful for his dedicated service and in particular the tremendously profound impact he has had on students. ”
A national search for a new dean will be launched early this fall, said Miami University spokeswoman Claire Wagner.
Jenkins has agreed to assist with the transition, she said.
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