Charles Pratt, already suspended as president of First Nations University of Canada, has been fired by the new board of governors.
The board met Thursday night to discuss Pratt's fate, chair Joely Bigeagle told CBC News.
"A decision was made to dismiss Mr. Charles Pratt, First Nations University president, with cause, effective immediately," Bigeagle said Friday. "There's dereliction of duty and we believe that … we do have grounds for termination."
Pratt became president in 2005 and was suspended in early February after allegations of improper spending by administrators. He was on paid leave until March 5, when he was suspended without pay until his termination Thursday.
"This is one of the steps we need to take, to move forward to ensure that the financial security and sustainability of the university is addressed," she said.
Bigeagle said she could not provide more details about the reasons for the dismissal.
She confirmed that Del Anaquod, a professor at FNUC with administrative experience, remains interim chief operating officer until March 31.
Any decision about a new president is up to the board, she said, adding it will have to act "in the near future."
"We are looking at where we go … and we want to make sure we have stability at the university," she said.
Pratt declined comment Friday afternoon and told CBC News he was referring all calls to his lawyer, Tim Stodalka. Stodalka could not be reached by phone.
FNUC is scrambling to climb out of a financial and administrative mess that came to a head in February, when the provincial and federal governments said they would stop funding the school, starting in April.
Since then, initiatives, including a new board, have been launched to address concerns about how First Nations University is run.
However, no new funding has been announced.
About 820 students are enrolled in FNUC courses at the main campus in Regina and at satellite operations in Saskatoon and Prince Albert.
The academic year ends April 15.