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Removing and replacing older faculty with younger faculty members, George De Feis claims, became the primary mandate.
Nyre told the Business Journal that his focus remains at Iona through June and "we're going to keep moving forward."
Nyre has led the New Rochelle private Roman Catholic college since 2011.
The alumnus and trustee contributed $17.5 million to expanding the business program.
The more than $25 million expansion of Iona's School of Business was funded, in part, by the largest donation in the college's history.
The funding comes from the Higher Education Capital Matching Grant Program, which provides matching grants to private, not-for-profit colleges and universities.
Iona College had sued the city over a land-use dispute that held up plans for an expansion of Iona's School of Business. The agreement comes about a year-and-a-half after Iona College first announced plans for expansion of its Hagan Hall School of Business facility.
Darrell P. Wheeler will begin his new position on July 1.