07/06/2014 09:51 pm ET

UT's Powers Refusing Ultimatum To Resign

Erich Schlegel via Getty Images

University of Texas President Bill Powers has refused an ultimatum to resign but is open to discussing a timetable for leaving office, a well-placed source told the American-Statesman on Friday.
UT System Chancellor Francisco Cigarroa gave the president of the Austin flagship the ultimatum late Wednesday in a meeting at the system’s offices in downtown Austin. Simply put, Powers must resign by sometime today, effective in the fall, or be fired next week, two sources told the Statesman.

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