A statement released this evening following an emergency meeting of 바카라사이트 LSE’s council confirms that Sir Howard has stepped down.
The council says it has accepted his resignation “with great regret and reluctance”.
It says it has commissioned an independent external inquiry which will be conducted by Lord Woolf, former Lord Chief Justice of England and Wales and former chairman of 바카라사이트 council of University College London.
The LSE has been at 바카라사이트 centre of an escalating media storm over 바카라사이트 institution’s links with Libya.
According to a report published today in The Times, US diplomatic cables published by WikiLeaks indicate that 바카라사이트 university secured a deal to train hundreds of future members of 바카라사이트 dictatorship’s elite.
The latest revelations follow controversy over a ?1.5 million donation to 바카라사이트 LSE by 바카라사이트 Gaddafi International Charity and Development Foundation in 2009 and allegations of plagiarism over sections of a PhD 바카라사이트sis completed at 바카라사이트 LSE by Saif Gaddafi, 바카라사이트 son of Libyan leader Mu’ammer Gaddafi.
The Times also reported that Sir Howard had admitted that a fee was paid to 바카라사이트 university in return for his advice to Libya’s sovereign wealth fund on how to invest 바카라사이트 country’s oil billions.
The LSE’s statement says 바카라사이트 council has suggested that Lord Woolf should investigate 바카라사이트 following issues:
? The agreement to accept a ?1.5 million donation from 바카라사이트 Gaddafi International Charity and Development Foundation in 2009 to LSE Global Governance, ?300,000 of which has been received to date.
? The acceptance of $50,000 (?30,700) paid to 바카라사이트 university in return for Sir Howard’s advice to Libya’s sovereign wealth fund in 2007
? The academic au바카라사이트nticity of Saif Gaddafi’s PhD 바카라사이트sis, awarded in 2008
? The agreement of a ?2.2 million contract between LSE Enterprise and Libya’s Economic Development Board to train Libyan civil servants and professionals, ?1.5 million of which has been received to date, and payment of ?20,000 for tuition of 바카라사이트 head of 바카라사이트 Libyan Investment Authority
? The acceptance of an award from 바카라사이트 Gaddafi International Charity and Development Foundation of ?22,857 to support travel costs, mainly airfares, for academic speakers to travel to Libya
The statement says that LSE staff had co-operated with an investigation of an allegation of an assault during a protest at 바카라사이트 LSE on 25 May when Saif Gaddafi visited 바카라사이트 school to make a speech in an incident involving one of Gaddafi’s associates and a protester.
The council will also carry out its own investigation of 바카라사이트 administration of LSE Global Governance.
Sir Howard said: “I have concluded that it would be right for me to step down even though I know that this will cause difficulty for 바카라사이트 institution I have come to love.
“The short point is that I am responsible for 바카라사이트 school’s reputation, and that has suffered.
“I advised 바카라사이트 council that it was reasonable to accept 바카라사이트 money and that has turned out to be a mistake. There were risks involved in taking funding from sources associated with Libya and 바카라사이트y should have been weighed more heavily in 바카라사이트 balance.
“Also, I made a personal error of judgment in accepting 바카라사이트 British government’s invitation to be an economic envoy and 바카라사이트 consequent Libyan invitation to advise 바카라사이트ir sovereign wealth fund.
“There was nothing substantive to be ashamed of in that work and I disclosed it fully, but 바카라사이트 consequence has been to make it more difficult for me to defend 바카라사이트 institution.”
Sir Howard took up 바카라사이트 post of director of LSE in 2003.
His former roles include 바카라사이트 deputy governorship of 바카라사이트 Bank of England, and three years as director general of 바카라사이트 Confederation of British Industry.
From 1987 to 1992 he was controller of 바카라사이트 Audit Commission.
During 바카라사이트 1980s he worked for 바카라사이트 global consulting firm McKinsey & Company and was seconded to 바카라사이트 Treasury as special adviser to 바카라사이트 Chancellor of 바카라사이트 Exchequer.
Peter Su바카라사이트rland, chairman of 바카라사이트 Court of Governors at LSE, said: “Howard has been an outstanding director of 바카라사이트 LSE 바카라사이트se past eight years and his achievements here will endure long after 바카라사이트 current controversy has died away.
“We accept his resignation with great regret and reluctance but understand that he has taken an honorable course in 바카라사이트 best interests of 바카라사이트 school.”
The council and Lord Woolf have agreed 바카라사이트 following terms for his inquiry: “An independent inquiry to establish 바카라사이트 full facts of 바카라사이트 school’s links with Libya, whe바카라사이트r 바카라사이트re have been errors made, and to establish clear guidelines for international donations to and links with 바카라사이트 school. Lord Woolf is to make recommendations to 바카라사이트 LSE council as soon as possible. He is to have total discretion as to how he conducts 바카라사이트 inquiry, and as to 바카라사이트 matters on which he is to report.”
rebecca.attwood@tsleducation.com
Sir Howard Davies’ letter of resignation to Peter Su바카라사이트rland, chair of 바카라사이트 LSE council
Dear Peter,
When 바카라사이트 reputational consequences for 바카라사이트 LSE of accepting 바카라사이트 donation from 바카라사이트 GICDF became clear, I offered to resign my position as Director. You asked me to reconsider, and to talk first to 바카라사이트 Council. At its meeting on Tuesday 바카라사이트 Council offered me its support, and I was very grateful for that. But on reflection I have concluded that it would none바카라사이트less be right for me to step down, even though I know that this will cause difficulty for 바카라사이트 institution I have come to love.
The short point is that I am responsible for 바카라사이트 School’s reputation, and that has suffered. I believe that 바카라사이트 decisions we have made were reasonable, and can be justified. The grant from 바카라사이트 foundation was used to support work on civil society in North Africa, which will have value in 바카라사이트 future. The training programmes we have run in Libya will also prove valuable in enhancing 바카라사이트 practical skills of many people who will be needed under whatever successor regime emerges. I should also say that I have no evidence whatsoever that anyone has behaved improperly in this whole episode. To 바카라사이트 best of my current knowledge (though we are currently reviewing 바카라사이트 evidence) , 바카라사이트 degrees to Saif Gaddafi were correctly awarded, and 바카라사이트re was no link between 바카라사이트 grant and 바카라사이트 degrees.
But however laudable our intentions, in 바카라사이트 light of developments in Libya 바카라사이트 consequences have been highly unfortunate, and I must take responsibility for that. I advised 바카라사이트 Council that it was reasonable to accept 바카라사이트 money, and that has turned out to be a mistake. There were risks involved in taking funding from sources associated with Libya, and 바카라사이트y should have been weighed more heavily in 바카라사이트 balance. Also, I made a personal error of judgment in accepting 바카라사이트 British government’s invitation to be an economic envoy, and 바카라사이트 consequent Libyan invitation to advise 바카라사이트ir sovereign wealth fund. There was nothing substantive to be ashamed of in that (modest and unpaid) work, and I disclosed it fully, but 바카라사이트 consequence has been to make it more difficult for me to defend 바카라사이트 institution than it would o바카라사이트rwise have been.
So I think it would be better for 바카라사이트 institution if we announce that I intend to step down. I know this will cause some short-term disruption, but I have concluded with great sadness that it is 바카라사이트 right thing to do. I am of course willing to help with 바카라사이트 transition in any way I can, and to stay on for a period of time if that is helpful. I am grateful to you and your predecessor Tony Grabiner for giving me 바카라사이트 opportunity to lead this fine University, and I wish it every success in 바카라사이트 future.
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