The University of Gloucestershire¡¯s chancellor, Lord Carey of Clifton, has become the latest high-profile resignation from the financially troubled institution.

The former Archbishop of Canterbury said he was leaving the post after seven years with ¡°great sadness¡±.

It follows the departure earlier this year of the vice-chancellor, Patricia Broadfoot, after disagreements between managers and unions about how to return the institution to financial health.

In a statement marking his resignation, Lord Carey says it has been a ¡°real privilege¡± to work with Professor Broadfoot, who he says has been an ¡°excellent¡± vice-chancellor.

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It is understood that Lord Carey¡¯s decision to leave was prompted in part by his desire to avoid being dragged into the rows at the institution.

Pressure on Gloucestershire was eased recently by the sale of its London campus for ?9.7 million, although the University and College Union has criticised the university, claiming that it plans to use the money to restructure rather than to pay off debt.

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A 2010-11 budget update discussed by Gloucestershire¡¯s planning and resources committee in March said the university was ¡°nearly ?8 million adrift¡± of its target to reach a ?2 million surplus by next year.

Lord Carey¡¯s resignation was relayed to staff in an email from Paul Hartley, Professor Broadfoot¡¯s deputy, who will become acting vice-chancellor from 1 August.

The Rev Malcolm Herbert, chair of the university¡¯s council, says in a statement that Lord Carey has been an ¡°exceptional ambassador¡± for the institution.

simon.baker@tsleducation.com