Larry Penley, chancellor of the Colorado State University System and president of CSU in Fort Collins, announced his resignation on Tuesday. Colorado State University-Pueblo President Joseph Garcia said, “there will be no negative ramifications for CSU-Pueblo.”

“Provost Meyer and I have been assured …that we can expect to maintain the same good working relationships we’ve had with the board and system officials,” Garcia said.

Penley said his resignation came because he wants to “be free to pursue other leadership positions in higher education. This resignation will allow me the flexibility to do so.”

“I believe that my leadership has contributed to significant progess for Colorado State University,” Penley said.

Penley has served for five years as both president and chancellor. As chancellor of the CSU Sytem, Garcia reports to Penley.

In a press release Douglas Jones, chair of the CSU System board of governors, said Tony Frank, who has been a part of the CSU faculty for 16 years, will be interim president.

The board will also begin a national search for a new president within the next several months.

The press release did not say whether or not Frank would also be interim chancellor or if there will be a search for a new chancellor.