By Alabama Public Radio
Birmingham, AL – Samford University President Thomas Corts says he will retire in 2006. Corts has held the position since 1983. He made the announcement Thursday at a joint meeting of Samford's Board of Trustees and Board of Overseers. And Corts told the boards that he'll retire earlier if the university's presidential search committee identifies his successor before May 2006. The committee will be co-chaired by former Governor Albert Brewer and Samford Trustee Hobart Grooms. Officials say the national search for a new president will start immediately. Corts has overseen many expansion projects at Samford, including the purchase of a London study center and a $250 million increase in the university's endowment. The Board chair also announced Thursday that Corts will inaugurate a fund-raising effort to add $50 to $60 million in campus facilities before he retires. Among other projects, the Board has approved the construction of a 6,000-seat arena.