In a statement sent to the school's mailing list by his successor, Casey Hagerman Bobo, Cahn said: "After careful reflection, I have decided to step down to focus on my health."

The resignation comes less than a week after Suffield Academy announced the IRS probe into Cahn's finances. The same day that announcement was made, Cahn went missing, according to school officials. He was later found in Maine.

The investigation also follows reports that Cahn had ties to XueMei Education, a Chinese company run by a former member of Suffield Academy's board of trustees. The nature of those ties has not been fully disclosed, but the IRS inquiry appears to focus on Cahn's financial dealings.

Cahn had led Suffield Academy, a private boarding school in northern Connecticut, for more than a decade. During his tenure, the campus underwent a $120 million construction boom, transforming its facilities.

The school has not commented on the specifics of the IRS investigation or on Cahn's ties to XueMei Education. In a brief statement, a school spokesperson said only that the board of trustees had accepted Cahn's resignation and that Bobo, previously associate head of school, would serve as interim head.

Parents and alumni expressed shock at the rapid developments. "It's a lot to process," said one parent, who asked not to be named. "We just want to make sure the school stays focused on the students."

The IRS does not comment on ongoing investigations. It is unclear whether Cahn has retained legal counsel.

Suffield Academy, founded in 1833, enrolls about 400 students in grades 9 through 12. The school is known for its rigorous academics and has a significant international student population.

The board of trustees is expected to meet later this week to discuss next steps, including a search for a permanent head of school.