Solid financial foundation to serve students, staff, faculty and the community for future generations
November 28, 2022 – Laurentian University has successfully completed its restructuring process under the CCAA and has now emerged from the court proceedings which began on February 1, 2021. This milestone allows Laurentian to continue to work with its key stakeholders to rebuild from a solid financial foundation.
“While there is much healing and hard work yet to be done, today we emerge stronger with safeguards in place to ensure a sustainable, more transparent and inclusive future,” said Jeff Bangs, Chair of the Board of Governors. “Reforming our governance, improving operations and heeding the recommendations of the Auditor General will keep us on track but, most importantly, we must be committed to respecting all of the University’s stakeholders as key decisions about the future are made.”
“We are committed to rebuilding pride in LU and regaining the confidence of our many stakeholders and the Greater Sudbury community. We’ll do this through our actions in the months and years ahead as we form our strategic plan and continue organizational transformation,” said Dr. Tammy Eger, Interim President and Vice-Chancellor. “Students and parents can feel confident in their decision to choose Laurentian to advance their education.”
The university is in a position to begin the process of forming the next strategic plan and implementing recommendations relevant to operations and governance, all while actively consulting with stakeholders including students and parents, faculty members, staff, labour partners, retired academics, alumni, donors, First Nations, Métis, Inuit, Francophones, government partners, the Greater Sudbury community, and many more.
“The future is bright for Laurentian, we have work ahead to transform our institution, but the path forward is clear. We are inspired to realize the vast potential within our community,” said Dr. Eger.