The board of trustees at Virginia Intermont College has accepted the resignation of President Clorisa Phillips.
A statement issued by the college said Phillips stepped down due to personal reasons.
She served as president for nearly four years.
The board of trustees is placing the day-to-day leadership of the college with Compass Executives of Nashville with Art Rebrovick serving as interim president and restructuring agent.
The college has set up teach out programs so that students are in a position to continue their educations with other colleges.