The CRO is an independent party appointed by the Court on a temporary basis for a number of months to assist Laurentian in its restructuring efforts.
The CRO will also oversee a governance review that was a term of the agreement entered into by Laurentian University and the Laurentian University Faculty Association during the CCAA process.
The motion proposes the appointment of Lou Pagnuitti, not only an experienced executive but a graduate of Laurentian University with an honours Bachelor of Commerce degree.
“We view the appointment of the CRO as an important step in the review and implementation of best practices for Laurentian’s internal governance and policies,” said Haché in a release. “The CRO will be able to lend independent expertise to expedite and assist the operational restructuring, as well as being part of the governance review that we have committed to undertake.”
The motion proposes that the CRO participate in discussions with many stakeholders, including labour partners, representatives of the Indigenous and Francophone communities, the Provincial and Federal governments and various ministries thereof, lenders, the City of Sudbury and the broader community, donors, alumni and research granting agencies, amongst others.
“We are moving forward with plans for the short-term and long-term success of the University,” said Haché. “The appointment of Mr. Lou Pagnutti in this independent role is one important step in that process.”