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

Q&A: Quad Advisors’ Borish Is Looking For Real Traders, Not Index Huggers

Aug 20 2014 | 1:43pm ET

Peter Borish, who served as founding partner and director of research at Tudor Investment...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note