By Kyeland Jackson —
Former President James Ramsey wants to remain part of the University of Louisville Foundation.
A news release from Ramsey confirmed his intentions. The Foundation, U of L’s $730 million endowment manager, can take Ramsey as president regardless of his status with the university. While a foundation board member asked him to stay, Ramsey has remained silent on his intentions until now.
“I intend to continue my service to the University of Louisville through the Foundation, in whatever capacity the Foundation Board thinks best,” the statement said.
“I look forward to continuing the Foundation’s work to keep our great university moving forward.”
The embattled president’s tenure quickly ended after the board of trustees negotiated his immediate resignation Wednesday. Ramsey’s contract was bought out for $690,000, ending his presidency and professorship with U of L. The president taught his last class Wednesday, posting about the experience on Facebook.
“Many thanks to Dr. Glenn Gittings for inviting me tonight to teach my last class,” the post said.
While the Ramsey is no longer on U of L’s board of trustees, four other members have ties to the foundation.
Trustee Sandra Frazier’s business, Tandem Public Relations and Marketing Firm, earns $458,000 as a contractor for the Foundation. Chairman Pro Tem Junior Bridgeman is the Foundation chairman, serving dual roles governing both the university and its endowment arm. Trustee Dale Boden is chairman of Advanced Care Therapeutics, which the foundation invests in. Trustee Brian Cromer’s law firm, Stites and Harbison, is the main legal contractor for the foundation.
Asked how they would negate any conflict of interest, Frazier and Boden said they would recuse themselves on matters concerning the foundation.
Interim Provost Neville Pinto is interim U of L president while the search for a new president begins. If he steps down, the interim executive vice president for health affairs would take over.
This story will be updated.
