NORMAN, Oklahoma - The University of Oklahoma says President David Boren will make an important announcement about OU's future Wednesday afternoon.

In a news release Wednesday morning, the university said the announcement will take place at 2 p.m. at Reynolds Performing Arts Center.

Reports that Boren would resign on Wednesday began circulating on social media Tuesday night. A university spokesman told News On 6 Tuesday evening those reports were "inaccurate."

Boren, 76, became the 13th president of the University of Oklahoma in November 1994, according to the university's web site. He was governor of Oklahoma from 1974 to 1978, and a U.S. senator from 1979 to 1994.

Boren graduated from Yale in 1963, received a master's degree in politics, philosophy and economics from Oxford University in England in 1965 and a law degree from OU in 1968.