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Bennett College, a private, historically black institution in Greensboro, N.C., announced Thursday that its next president will be Suzanne Walsh, deputy director of the Bill & Melinda Gates Foundation's Postsecondary Success division.

Amid a severe financial struggle, Bennett had its regional accreditation terminated by the Southern Association of Colleges and Schools Commission. The college sued to block that action, which likely would have resulted in its closure. Bennett also is seeking to become accredited by the Transnational Association of Christian Colleges and Schools, a national accreditor of religious colleges.