University Names New Foundation Director

Sunday, November 25th 2007, 3:26 pm

By: News On 6

NORMAN, Okla. (AP) -- The new executive director of the University of Oklahoma Foundation says he wants to maintain the standards of integrity and security established by his predecessor. Tulsa native Guy Patton became the OU Foundation's third director on October 15th.

Under the previous director, Ron Burton, the foundation's assets grew from 17.5 million dollars in 1978 to 864 million dollars this past June.

Patton says the foundation has a tremendous amount of positive momentum. He says the biggest opportunity now is to keep up with the growth.

The foundation is independent of the university, though its sole purpose is to manage the university's financial dealings including investments, fellowships, endowments and scholarship funds.