The governing board of the University of Colorado still appears to want him, but the faculty and students have decided they don’t want the millionaire oilman and Republican activist Bruce D. Benson as the institution’s next president.

The Boulder Faculty Assembly voted, 40 to 4, on Thursday against a resolution backing Mr. Benson for the post, The Daily Camera, a Boulder newspaper, reported.

After the vote, Uriel Nauenberg, a physics professor who is chairman of the Faculty Assembly, released a statement that Mr. Benson lacked the “academic credentials” to lead the institution. Mr. Benson holds a bachelor’s degree from the university.

After a four-month search, Mr. Benson was the only candidate whose name was forwarded for consideration by the Board of Regents. The regents are scheduled to take a final vote on Wednesday. Mr. Benson has pledged not to meddle in academic affairs. His political connections and his ability to raise money are seen as his strengths. He has given $8-million to the university himself. Still, his candidacy for the presidency has raised sharp criticism.

The legislative council of the university’s student union also passed a resolution Thursday night calling for the regents to reconsider additional candidates. —Martin Van Der Werf