Ryerson University will be formally changing its name after heightened backlash over the school’s namesake who helped create Canada’s residential school system.

On Thursday, the Standing Strong (Mash Koh Wee Kah Pooh Win) Task Force presented its final report to Ryerson’s Board of Governors on recommendations the school should implement in response to Egerton Ryerson’s legacy, including renaming the school.

The board approved a motion to accept all 22 recommendations.

The school has committed to developing an action plan by Jan. 31, 2022 to address and implement all of the recommendations.

“We will honour that commitment and I assure our community that a process will be put in place to ensure that the recommendations are carried out in an equitable, transparent, inclusive and timely manner,” Mohamed Lachemi, Ryerson University’s president and vice-chancellor said in a statement on Thursday.

Speaking to CP24, Lachemi called it a 'historic day.' By accepting all of the recommendations, he said the university is confronting the legacy of Ryerson, which has been a source of pain and frustration for the community, "openly and honestly."

"It's an opportunity for the university to show leadership on an issue that is of importance not only for our community but for our country. And we embrace that opportunity," Lachemi said.

"It is the right decision. And it's an important step towards our commitment to reconciliation. And I think that's the most important thing here. But also, this is to uphold our values and commitments towards equity, diversity and inclusion."

The action plan is expected to include a timeline for engaging with community members and university stakeholders on what the school’s new name will be. Lachemi said the university will begin its renaming process next month. He hopes that the process of selecting a new name will 'unify' the university.

"We need to engage the rest of the community to select what's the best name for us to continue the momentum and do what we do best," he said.

Other recommendations in the report include not reinstalling the statue of Egerton Ryerson, which was brought down by protesters earlier this summer, reconsidering the “Eggy” mascot, education and sharing materials about Ryerson’s legacy and additional funding programs for Black and Indigenous students.

The recommendations were informed by the participation of over 11,000 Ryerson community members.

The Task Force was formed in Nov. 2020 in an effort to understand Egerton Ryerson’s life and legacy and the role of commemoration in the community, amid increasing public outcry against Ryerson’s ties to residential schools.

Brea Scott, one of the organizers of Wreckonciliation X University, said she is thrilled with the board's decision.

"So grateful to everybody on the task force who put in hours and hours of work. And we're really looking forward to seeing those recommendations put into place going forward," Scott said.

"It is incredibly important the work that we continue to do and to keep the pressure on the university to honour its commitment to truth and reconciliation and to the values and pillars it stands by."

Toronto Mayor John Tory said the university made the right decision and is consistent with the city's move to rename Dundas Street.

"I think it was a very legitimate exercise for Ryerson to go through as it was for the city. I think the decision is one that will allow us to bring the city together and to keep bringing the city together instead of having reasons to have the city be separate and apart from one another," Tory said.

This year, hundreds of children’s remains were discovered at the sites of former residential schools across Canada sparking nationwide protests for Indigenous rights.

Before the Egerton Ryerson statue was brought down, it was vandalized at least twice in the past year during demonstrations against monuments that represent slavery and colonials.

This year, the university’s student council also approved the renaming of its two student publications- The Ryerson Review and the Ryersonian- due to their namesake’s history.