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University of Louisville President James Ramsey stepping down, Board of Trustees being dissolved

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During a press conference Friday morning, Kentucky governor Matt Bevin announced that University of Louisville President James Ramsey will be stepping down and that Bevin plans on reorganizing the school's Board of Trustees.

There was no timetable given for when Ramsey's resignation will go into effect.

As for the Board of Trustees, Bevin's "reorganizing" is a complete overhaul of the existing board. He will appoint three members to a temporary board that will assemble a new 13-person board over the course of the next two weeks. The only member of that temporary board that Bevin named is former U of L basketball player Junior Bridgeman.

More on this story as it develops.