University of Louisville trustees have accepted the resignation of embattled President James Ramsey, whose long tenure was dogged by scandal.
The action by the school's new board at a special meeting Wednesday signals the end of an era. Ramsey has led the university for 14 years.
He was credited with raising academic standards and boosting the school from a commuter campus to a distinguished research institution. But he came under increasing fire over embezzlement scandals, an NCAA investigation into whether a university employee paid women to strip and have sex with basketball players, and other controversies that hounded the university for years.
The board announced Wednesday after six hours of closed-door deliberations that Ramsey will get $690,000 and will resign immediately.