October 1, 2004
President Resigns After Gift Evaporates
The president of a small college in California announced last week that he would resign, following the institution's discovery this summer that $112-million in pledges would not be realized.
Brother Craig J. Franz, president of Saint Mary's College of California, said he believed that the Roman Catholic institution needed new leadership to rebuild the confidence of potential donors and alumni. His resignation will be effective January 1.
Brother Craig could not be reached for
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