COSTA MESA, Calif., Jan. 22 (UPI) -- The acting president and board chairman of a financially troubled Christian college in California have resigned.
Vanguard University of Southern California in Costa Mesa is $42 million in debt and in danger of losing its accreditation, The Orange County Register reports. Carol Taylor, the chief academic officer, became the new acting president Saturday.
Taylor released a statement this week that said interim President Wayne Kraiss and board Chair Ray Rachels "offered to step down in order to facilitate the new leadership necessary to move Vanguard forward."
Rachels, district superintendent for the Assemblies of God, told the Register Wednesday he decided to resign to allow the board to become truly independent. Most board members are Assemblies of God ministers and he is their boss.
Vanguard was founded in 1920 as Southern California Bible College. It assumed its current name in 1999 when it was granted university status.
The president, Murray Dempster, left in September after being made chancellor. His departure inspired a student Facebook page, "Where in the World is 'Murdog' Murray Dempster?"
