The Executive Vice President for Business of Operations at The New School, Tokumbo Shobowale, is stepping down later this semester and joining Fordham University in a similar role, according to announcements from The New School and Fordham University. 

Shobowale has served as The New School’s Executive Vice President for Business of Operations since November 2013. His primary role involved managing and strengthening the university’s financial resources. Shobowale helped facilitate “the university’s transition to a remote-first, hybrid administrative service model…for staff,” and created a multi-year budget process, according to The New School website. This budget determines expenses for faculty, staff, and students salaries and benefits, including Financial Aid. It also calculates necessary revenue in order to fund the university. 

Shobowale was heavily involved in contract negotiations with the Part Time Faculty Union throughout the strike in Fall of 2022,and released many statements regarding the negotiations and grading processes. 

Prior to his work at The New School, Shobowale was the Director of Infrastructure of New York City’s Initiative on Rebuilding and Resiliency in response to Hurricane Sandy in 2012. He has also held multiple economic and financial roles for the City of New York and the New York City Economic Development Corporation. 

Shobowale’s resignation comes after Dwight McBride, the former President of The New School announced his departure earlier this summer. 

Shobowale will take on his role as Fordham’s Chief Financial Officer, Senior Vice President, and Treasurer effective immediately on Oct.13. This is a developing story. The Free Press will post further information once it becomes available.