The newly formed board of trustees for the University of Louisville has accepted the resignation of university president James Ramsey, who offered to step down following several scandals and the reorganization of the school’s board by the state’s governor.
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“We’re looking at what’s our job – to come in and do the best we can to try to push the university forward”, he said. Ramsey will be paid $690k in the process.
Ramsey’s future as president of the U of L foundation won’t be decided until at least September.
The board was also set to discuss a plan to search for a new university president. He’s always going to talk about what’s best for the university. Ramsey agreed not to sue the school under the agreement reached. Ramsey had served as U of L’s acting president for 10 weeks prior to his appointment in November 2002.
During his tenure, Ramsey has helped boost the school’s profile, increasing graduation rates and academic standards for incoming freshmen, while leading highly-successful fundraising efforts.
Under Ramsey, U of L has filed for more patents, seen its endowment grow and joined the Atlantic Coast Conference.
And in 2014, a handful of university officials went to prison on charges of fraud and embezzlement that totaled more than $7 million in university funds. Ramsey won’t say if he will also resign his foundation post. Under the terms of his deal with the board, he will be paid $690,000, the equivalent of about two years of his university salary.
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So I guess there’s only one thing left to do: Al Pacino for new university president.
