Laurentian University announces 5 new board members appointed by the province
11 members of the board recently resigned, the same day a provincial bailout was announced for the school
Sudbury's Laurentian University said the province has appointed five new members to its board of governors.
Last week, 11 members of the board resigned, the same day a provincial bailout was announced for the school.
In February, the university announced it was insolvent and it has been restructuring since. Since then, 30 programs have been cut and around 200 staff and faculty members lost their jobs.
The university said the following people have been appointed to the board of governors: Debbi Nicholson, Don Duval, Robert Brouillette, Gerald (Gerry) Bilodeau and Jeff Bangs.
"As part of Laurentian University's commitment to an accelerated process of board renewal and in connection with the financial support package provided by the province of Ontario, it is pleased to welcome five incoming members to its board of governors," the university said in a statement.
"These volunteer members are appointed by the Lieutenant Governor and will hold office for a one-year term."
Last Thursday, the university announced the Ontario Ministry of Colleges and Universities will provide $35 million to refinance Laurentian's existing debtor-in-possession (DIP) loan, which first was made available when it went into creditor protection earlier this year.
The province will also give the university up to $6 million in COVID-19 funding and "performance protection" of up to $22 million over several years.
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