Articles

ORU Board Accepts Green Family Proposal

TULSA, Okla. -- The Oral Roberts University Board of Regents met on Monday, January 14 with representatives of the Green family to review their proposal and provide an opportunity for the regents to address questions.

“We are pleased to announce the board has unanimously accepted the Green family proposal in principle.” said George Pearsons, Chairman of the Board of Regents.

“The final terms of the proposal are being worked out now,” said Pearsons.

Highlights of the accepted proposal include:

• Shared governance under a new set of bylaws which will now govern the university and keep the mission and vision intact.


• Replacement of the Board of Regents, Business and Spiritual, with a single Board of Trustees, who will govern the university in trust on behalf of its students, faculty, alumni and other stakeholders.


• The Green family has one vote on this new board and retains no additional control over university matters.


• An announcement that former regents will transition to a non-voting, newly formed Board of Reference.


• The Board of Trustees, made up of nine to twenty-two members, will have ultimate authority over all university matters and will initially be comprised of 13 new Trustees. The current Board of Regents will recommend six nominees to the new board for consideration of which three will be confirmed by the Green family. Six additional seats will remain open for future Board of Trustee selection.


• Oral Roberts will continue as Chancellor of ORU and will be named a Trustee for the remainder of his life.


• Mart Green will be named as Chairman and will be the sole member of the Green family to serve on the Board of Trustees.


• Use of the $62 million donation will be determined by the Board of Trustees.