Oklahoma City businessman Mart Green is taking the helm of a new governing board for ORU.
Oral Roberts University is getting a multi-million dollar gift and the university is undergoing a massive restructuring.
Oral Roberts University is getting a multi-million dollar gift and the university is undergoing a massive restructuring. The News On 6's Ashli Sims reports Oklahoma City businessman and philanthropist Mart Green is taking the helm of a new governing board for the university.
Hobby Lobby Founder Mart Green says he had only planned to present the ORU Board of Regents with a proposal. He says he had no idea they'd already be putting it into action.
"After hearing the proposal this morning and then we had time for question and answer this afternoon. The board voted unanimously to accept and receive the Green's proposal," said ORU Board of Regents Chairman George Pearson.
The plan which some call ORU's multi-million dollar miracle was greeted with praise and applause. The university plagued by recent scandal and lawsuits is now being resurrected with new bylaws and new leadership.
"We see the great merits of it for the future of the university. Exciting things are going to be happening. We heard some wonderful presentations today and we're just so thankful," said ORU Board of Regents Chairman George Pearson.
They are thankful for the Oklahoma City businessman and philanthropist who has become ORU's savior.
Hobby Lobby Founder Mart Green set this all in motion two months ago when he first announced an $8 million gift to the university. ORU has accepted his plan to restructure the university, along with another $62 million.
The university will replace its current board of regents with a board of trustees. Mart Green will chair that board and have one vote.
Oral Roberts will be a trustee for the rest of his life.
And, three current regents will also serve on the board of trustees.
The rest of the regents will transition to a non-voting board of reference to preserve the university's heritage.
Green says this new way of doing things will be more valuable than the multi-million dollar gift.
"The biggest thing that we had today to bring them was not the $62 million. It was the ideas of new governance and a new way of doing things from a founder's college, university that ORU was to a new day," said Mart Green.
A new day some students seem to welcome.
"Very, very excited. I think our university is going to be some much better off. We're starting anew and we're gonna be one of the best universities in the world," said ORU graduate student Vijay Karlsson.
Former ORU President Richard Roberts did attend Monday's board meeting. The ORU Board of Regents named him president emeritus. It's an honorary title that doesn't carry any responsibility or authority, but shows the university's appreciation for his decades of service.
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