The Harvard Crimson, the university's student newspaper, reported Tuesday morning citing a person familiar with the decision that Gay will remain in office with the blessing of the university's highest governing body.
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University representatives were not immediately reachable for comment.
The Harvard Corporation, which includes the school's board of overseers, plans to announce the decision Tuesday morning following the conclusion of the board's meeting on Monday, the school paper reported.
CNN previously reported that The Harvard Corporation was finalizing a statement on Gay that was expected to be announced Tuesday.
Gay has been on the hot seat ever since her disastrous testimony on antisemitism at American universities before a House committee a week ago. Since then, UPenn President Liz Magill, who testified alongside Gay, resigned, and some high-profile donors and politicians called for Gay's ouster.
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But an outpouring of support for Gay Monday from hundreds of faculty and alumni could have tipped the board's decision in her favor.
More than 700 Harvard faculty members have signed a petition backing Gay. According to the 2023 Harvard annual report, the university has 1,068 tenured faculty plus 403 tenure-track faculty.
The Executive Committee of Harvard University's Alumni Association on Monday announced its unreserved support for Gay. And over 800 Black alumni have announced their "unequivocal support" for Gay and her efforts to "build a stronger, more inclusive community at our alma matter while balancing the critical principals of free thought and free speech."