Five months after a faction of New York University professors began agitating against president John Sexton's expansionist policies—and a month after a faculty group called on Wachtell, Lipton, Rosen & Katz founding partner Martin Lipton, a key Sexton ally, to give up his post as chairman of NYU's board of trustees—the university is making some changes in a bid to win over the critics. But neither Sexton nor Lipton are going anywhere anytime soon.
In a series of proposals announced Wednesday, a committee of NYU's board of trustees outlined plans to give faculty more input in university decisions; said a controversial program that made no- and low-interest loans available to top administrators and star professors to buy second homes will be scrapped; confirmed that Sexton, 70, does not plan to continue serving as president after his contract expires in 2016; and vowed to give faculty and students a say in picking his successor.
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