no confidence in Richard Roberts. Roberts tendered his letter of resignation to the board of regents on November 23. Pearsons said the university planned to separate its finances and leadership from the Oral Roberts Evangelistic Association, to the apparent relief of many students and faculty members. On January 10, 2008, ORU settled with plaintiff John Swails, who was reinstated to his previous teaching position. The school also announced a formal search committee for a new president, to be headed by board of regents member and Tulsa resident Glenda Payas.
Tulsa evangelist Billy Joe Daugherty was named interim President and executive regent. The same month, the school was reportedly "struggling financially" with over $50 million in debt.
=== Finances ===
ORU's operating budget for 2007–08 was over $82 million. On January 14, 2008, ORU's board of regents voted unanimously to accept $62 million from the Mart Green family, the owners of Oklahoma City-based Hobby Lobby, Mardel educational, and various Christian …
