The board of trustees are considering a motion to remove president Ramsey from his position in the University of Louisville Foundation.
Ramsey is currently president of the U of L Foundation who’s purpose to help manage the university’s $1.1 billion endowment and relieve the university of financial pressures from state budget cuts. The organization garnered scrutiny last year when reports of several millions being allotted to him and foundation staff members surfaced. Ramsey opposes ideas of the motion, stating the financial ramifications could be irreversible.
“While I appreciate the recognition by selected Trustees….I do not believe splitting the presidencies of the University and Foundation are in the institution’s best interests,” Ramsey said in the beginning of his statement.