U. Va. Reinstates President, Despite Tudor's Jones

Jun 27 2012 | 11:05am ET

If Tudor Investment Corp.'s Paul Tudor Jones had a hand in the firing of University of Virginia President Teresa Sullivan two weeks ago, it was a short-lived victory.

The school's Board of Visitors yesterday unanimously voted to reinstate Sullivan, 16 days after forcing her resignation less than two years into her five-year term. That move led to widespread protests on campus, including a faculty vote of no confidence in the Board of Visitors, although not from Jones, who wrote a guest column in the Charlottesville campus' student newspaper calling Sullivan's exit "a clarion call from the Board of Visitors that business as usual is not acceptable anymore."

Jones reportedly had a hand in the "project" to remove Sullivan. The hedge fund honcho and 1976 Virginia alumnus reportedly lacks faith that Sullivan has the ability to raise enough money to allow U. Va. to compete with better-funded private universities; it is unclear whether Sullivan's reinstatement will affect his plans to make a large donation, possibly in the nine figures, to the school.

"I pledge to set aside any differences we might have and to work hand-in-hand with Rector [Helen] Dragas and all the members of the Board of Visitors as we face the challenges that have been articulated—and find solutions that will further distinguish the university," Sullivan said after the 20-minute meeting.

Dragas, who had pushed for Sullivan's exit and asked for her resignation, also received a vote of confidence from the Board of Visitors. She has faced calls to resign herself, as has the board, en masse.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...

 

From the current issue of