SILVER CITY, N.M. — The president of Western New Mexico University has stepped down amid allegations regarding excessive spending on international trips and irregular use of a university credit card, finalizing an agreement that includes a new position and a substantial payout of $1.9 million.
Joseph Shepard’s resignation comes following a critical investigation by New Mexico’s state auditor, which revealed that senior university officials and regents had not fulfilled their fiduciary duties. The audit, released last month, highlighted over $363,000 in expenditures that deviated from university policies.
Shepard’s official departure is scheduled for January 15. According to reports, he will receive a lump sum payment equivalent to five years of his presidential salary, amounting to $1.9 million.
In addition, Shepard has secured a five-year teaching position at the university’s business school with a salary of at least $200,000 per year.
The university’s board of regents unanimously approved the agreement, during which Shepard defended himself against the accusations, labeling them as falsehoods.
“A lie gets halfway around the world before the truth gets its boots on,” Shepard remarked.
Concerns about Shepard’s international travel expenditures and lavish purchases, such as high-end furniture, were raised by state lawmakers last year. Despite the growing concerns, regents expressed their continued support for Shepard.
University officials have previously stated their commitment to upholding fiduciary responsibilities, emphasizing that WNMU adheres to stringent fiscal standards designed to optimize resources for its students, faculty, staff, and the New Mexico community.
With a storied history dating back to the 1890s before New Mexico’s statehood, Western New Mexico University has witnessed numerous name changes over the years.
Shepard has been at the helm since 2011, following a lengthy 16-year tenure at Florida Gulf State University, where he held various administrative positions. His wife, Valerie Plame, is a former CIA officer and was a candidate for New Mexico’s 3rd Congressional District in the 2020 Democratic primary.
