RALEIGH -- After leading a controversial move to transition from an all-female school to a co-educational institution, but also dealing financial issues that also led to a major buyout of tenured faculty , William Peace University President Debra Townsley announced her retirement Monday effective June 30, 2015 Monday.

“During my tenure, William Peace University has seen tremendous growth. I told the Board it would take five years, which is the right amount of time for my service to the University. As a change agent, I know that you come in to carry out the mission of the Board, then pass the baton to the next leader to continue to move the institution forward,” Townsley said in a press release issued Monday.  “The Trustees have graciously offered me an extension to stay and continue the work of this University. I have given their offer considerable thought, however, for me, five years is the right amount of time. It is now time to bring in the next President.”

During her half decade of service, there was a growth in the student body, but there was also a buyout of faculty in a cost cutting effort and the change to a co-ed school, which was coupled with the change of name from Peace College to William Peace University, met with mixed reviews and complaints from alumnae. Several academic programs were cut.

Another controversial move during her tenure was spending about two-thirds of the school’s $33 million endowment to buy the Seaboard Station shopping center near the school’s campus on the edge of downtown. The school plans to maintain the center as a shopping location and Townsley in earlier interviews compared the arrangement to something done by Wake Forest University that will generate revenue for the institution from rental income.

“On behalf of the Board of Trustees, I would like to thank Debra for her tireless efforts, continued dedication to WPU and her success at carrying out the direction of the Board,” said Beth Chadwick Cherry, Chair of the Board of Trustees. “Debra made this decision and regrettably we accept her retirement. We are extremely pleased with the job she has done leading William Peace University, and we look forward to working with her over the next 8 months as she continues to build an even stronger institution. The school is far better positioned today and is a better place from her service.”

University tax documents cite her total compensation as just over $452,000 for the fiscal year 2012-2013.