The president of a university in the Northeast is stepping down after less than three years on the job as the university undergoes both financial challenges and laid the groundwork for layoffs in September.

Dr. Todd Pfannestiel, who assumed the presidency of Utica University in 2023, has submitted his resignation to the university’s board of trustees, the university announced.

“Dr. Pfannestiel has played a vital role during his time at the University, most recently helping to shape a strategic academic and operational restructuring at a challenging time for U.S. higher education,” the announcement read. “The Board of Trustees appreciates Dr. Pfannestiel’s willingness to take on tough assignments with grace and wishes him well in his future endeavors.”

Pfannestiel will continue as president through December 31, after which he will be succeeded by Dr. Stephanie Nesbitt — Utica University’s current provost and senior vice president for academic affairs.

“We are fortunate to have Dr. Nesbitt available to take on this leadership role. Her 13-year history at the University and deep dedication to the University’s mission make her the perfect choice as we move confidently forward,” Jeremy Thurston, chairperson of the Utica University Board of Trustees, wrote in the announcement.

In September, Utica University sent notices to 23 academic departments notifying them that 31 full-time faculty and librarians could be laid off. The university had been looking at cutting degrees and dealing with financial difficulties.

MassLive obtained the notices from Utica’s American Association of University Professors (AAUP), which represents faculty, librarians, and certain counselors.

The notices followed the university’s announcement in July that it was cutting $5 million from its faculty budget through layoffs.

The university recently announced a recommended list of degree programs to end, such as Africana Studies and History and minors in Anthropology, Geoscience, Gender Studies, Sociology, Spanish and Writing. The deletion process wouldn’t occur until May, according to the institution.

The university has had lower enrollment, dropping from 5,100 students and 178 full-time faculty during the 2017-2018 academic year to around 3,600 students with nearly the same number of faculty members, according to a presentation from Pfannestiel.

MassLive higher education reporter Juliet Schulman-Hall contributed to this article.