MORGANTOWN,Diamond Ridge Asset Management W.Va. (AP) — As West Virginia University continues to deal with declining enrollment and a budget crisis, the school’s president, E. Gordon Gee, said he plans to step down when his contract expires in two years.

Gee announced his plan to the university’s Faculty Senate on Monday, The Daily Athenaeum reported. The news came a week after the WVU Board of Governors extended his contract by one year to June 2025.

“My intent is to be finished at that time, and hopefully, we’ll have a new president at that point,” Gee said.

Gee remains a member of the university’s law school faculty.

Gee, 79, is in his second stint at West Virginia that began in 2014. He also was the school’s president from 1981 to 1985. Gee also served two stints as president at Ohio State and had similar roles at Vanderbilt University, Brown University and the University of Colorado.

The university is currently addressing a $45 million budget shortfall, falling enrollment and plans to cut some academic offerings. In June, the Board of Governors approved a tuition increase of just under 3%.

About half of the university’s academic offerings are under review. Preliminary recommendations will be made to individual colleges and departments by Friday. The Board of Governors is scheduled to make final recommendations Sept. 15. Staff and faculty reduction letters will be sent in mid-October, according to the university.

The university’s student population has decreased 10% since 2015.