RALEIGH, N.C. -- The national alumni association of one of the oldest historically black colleges in the South is calling for the board of the North Carolina school to step down or be fired because of continuing financial problems.
The News & Observer of Raleigh reported the alumni association of Shaw University in Raleigh addressed its letter to the school's board chairman, multimillionaire lawyer and alumnus Willie Gary of Stuart, Fla.
The May 14 letter from association president Emily Perry says the group has serious concerns about "conflict of interest, fiduciary responsibilities" and other matters.
Shaw has debt of more than $20 million.
Gary says he doesn't plan to step down or seek anyone's ouster. He says he hasn't kept up with a $10 million pledge he made 10 years ago because of the economy.
Information from: The Charlotte Observer
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