University of Colorado Boulder Chancellor Philip P. DiStefano has accepted the resignation of athletic director Mike Bohn. Bohn's last day in office will be June 3.

"Mike Bohn led CU-Boulder athletics in a time of great transition and change," said DiStefano. "We are grateful to him for his vision, passion and commitment, and for his key role in revitalizing men's and women's basketball, helping us to join the Pac-12 Conference, and in taking important steps to upgrade athletic facilities at CU-Boulder."

Bohn, who is considered as one of the most successful fundraising athletic director in the history of the University of Colorado, was chosen as the university's sixth athletic director, April 13, 2005.

Apparently, Bohn was asked to resign as the university officials were unhappy with his financial management of the department.

"I had no idea this was coming," Bohn said. "I was never informed there was an issue," Bohn said. "They have the right to pick who their athletic director is and I respect that. I built a solid foundation based on strong guiding principles. I met virtually every expectation of all my incentives for eight years straight."

Bohn said that his department had a tight budget for the first six years of his tenure and experienced lower revenue following its departure from the Big 12 Conference to the Pac-12.

According to Bohn, Pac-12 Network is not yet a money-making conference and will not distribute revenue to any of its member schools this year or even next year, which further contributed to the department's revenue deficit.

"We knew it was going to be a two-year tough window and campus knew that," Bohn said.

CU Regent Pete Steinhauer, who served on the board when Bohn was recruited, said that the university had committed a blunder by accepting Bohn's resignation.

Achievements compiled under Bohn's tenure include:

- Six donations of $1 million or more.

- Athletic department was named the best fundraising unit on the Boulder campus.

- First donor seating program was introduced in the history of basketball.

- Creation of the Buff Club Cabinet, who donate a minimum of $25,000 annually to the department.

- Increased corporate sponsorships to record levels of $4.1 million.

Adele Cecilia "Ceal" Barry has been named the interim director of intercollegiate athletics for the university and a search committee to find a replacement for Bohn will be soon established.

DiStefano also said Bohn's successor should be of an energetic personality focusing on fundraising and creating a dynamic organization.

"We are seeking a talented leader who can build on Mike's vision and make it a reality," said DiStefano.