Nobel laureate Brian Schmidt has announced he will resign as Australian National University vice-chancellor. 

Professor Schmidt was appointed to the role in January 2016 and has been on the ANU’s staff for 28 years, but this week revealed he will stand down at the end of the year to return to teaching and research. 

He was at the helm as the university was smashed by a pandemic-induced reduction in international students, leading to a deficit of $164.2 million - one of the largest in Australian university history.

He made significant efforts to diversify the range of students choosing to study at ANU, and also oversaw a major revamp of the university’s ageing campus.

The Nobel prize winner said that after eight years in the role, it is time to pass on the baton.

“After eight years, I will be ready to get back to my research and teaching, and a somewhat more balanced life,” Professor Schmidt said.

“My love for ANU is undimmed. My zest to see it improved hasn’t changed. And I always said that when I stepped down as vice-chancellor I wanted to hand on a university I would be happy to continue to work in.

“To be honest, I’d never considered being a vice-chancellor but I decided to put my hand up and 2015 to become vice-chancellor because this great university, that did so much for me, looked to be in danger of losing its role as Australia’s national university, and I was honoured take on that responsibility and do my best for the institution,” Professor Schmidt said. 

He said he would spend his last year as VC of the ANU campaigning the federal government for more funding.

ANU chancellor Julie Bishop spoke after the announcement, saying Professor Schmidt’s news was not a surprise to those who understood his love of teaching and astrophysics.

“It is a skill knowing when to go. You have led this university in an exemplary fashion for the past seven years,” Ms Bishop said.

“We will look back at your legacy, your influence and the impact you have had and it will be seen as profoundly positive,” she said.