Updated 10/10/2005 9:23 p.m. The board of trustees decided today that Benjamin Ladner will not return to AU as its president. Dr. Neil Kerwin will continue to serve as acting president until a search for Ladner's replacement is completed.
The board agreed to adopt the findings of the Audit Committee, and authorized the university to report additional taxable income in the amount of $398,000, and to seek reimbursement from Dr. Ladner for certain personal expenses in the amount $125,000.
The board did not reach the issue of Ladner's severance package, according to Trustee Thomas Gottschalk in a press conference this evening, which concluded the board's eight-hour meeting.
The board appointed three trustee committees as a result of today's deliberations. The first committee, a Search Process Committee, will meet with university constituencies and recommend a process for choosing a new president. The second committee will consider candidates to replace former board Chair Leslie Bains, who resigned yesterday. The third committee will examine and recommend improvements in the board's governance going forward.
Gottschalk said there is no time frame for replacing Ladner or Bains.
