Four University of Louisville Foundation board members lose seats after Bevin shakeup
Gov. Matt Bevin’s move to abolish the University of Louisville Board of Trustees has resulted in a partial shakeup of the board of the directors overseeing the university’s nonprofit foundation.
LOUISVILLE, Ky. (WDRB) -- Gov. Matt Bevin’s move to abolish the University of Louisville Board of Trustees has resulted in a partial shakeup of the board of the directors overseeing the university’s nonprofit foundation.
Former foundation chairman Robert Hughes and three others are no longer on the board because, according to the foundation bylaws, their seats are reserved for current U of L trustees.
Hughes confirmed the change in a phone call Wednesday morning, and the four former directors are not listed in the meeting materials for a series of foundation meetings scheduled Thursday.
The other ousted foundation directors are physical therapist and businessman Larry Benz, the former chairman of the Board of Trustees; investor and athletics booster Jonathan Blue; and Brucie Moore, the county attorney in Union County, Ky.
The foundation has 14 board members in all, including University of Louisville President James Ramsey, who is also the president and chief executive of the foundation.
The foundation is the steward of donations to U of L and its $650 million endowment, as well the developer of real estate projects around Louisville including the Nucleus campus downtown and the ShelbyHurst office buildings off Hurstbourne Parkway.
A forthcoming examination by the state Auditor’s Office will explore the management and oversight of the foundation in relation to the university.
Bevin’s abolishment of U of L trustee board, announced Friday, may be challenged in court. Attorney General Andy Beshear has called a news conference at 1 p.m. Wednesday to discuss the U of L situation.
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