Financial Crisis Prompts Resignation of the Entire Board of Trustees at Charles R. Drew University of Medicine and Science

The interim president and the entire board of trustees of Charles R. Drew University of Medicine and Science in Los Angeles have resigned. In their place the board selected a group of higher education and medical leaders from the area to oversee the troubled institution. Charles R. Drew University is facing loan repayments of $43 million, money it does not have.

The university was founded in 1966 to train physicians who would work in minority neighborhoods. The university has had numerous financial, organizational, and leadership problems in recent years.

The new 11-member board includes the deans of the medical schools at UCLA and the University of Southern California. It is chaired by M. Roy Wilson, chancellor emeritus of the University of Colorado at Denver. It is hoped that the new leadership will be able to garner financial support from the University of California system.