Richard Wagoner, the former president and CEO of General Motors Corp. and Trinity ’75, assumes his position as chair of the Board of Trustees today.
Wagoner, who was elected to the Board in 2001, served as vice chair of the Board since 2007 and was a member of the trusteeship committee and the facilities and environment committee, among others. Wagoner said his work on these committees, especially his experience with the presidential search, the 2005 Financial Aid Initiative and as chair of the Fuqua School of Business Board of Visitors from 1998 to 2001, gives him an in-depth perspective and a good understanding of both the Board and the University as a whole.
“Duke is fortunate enough to have a very capable faculty and administration, and it also has a very effective and highly engaged Board of Trustees,” Wagoner said. “All of us have been pleased with the progress we’ve seen with Duke over the last decade, and everyone is committed to continuing that, including close engagement with students, faculty and the entire Duke community.”
Some of the areas that will particularly capture the Board’s attention this year are the potential for a capital campaign, student life—including facilities and residential space—and further discussions on academic programs, campus culture and student interest in entrepreneurship and innovation.
A significant amount of development will take place regarding Duke’s international activity, particularly with Duke Kunshan University, Wagoner added.
He noted that he is very pleased with Duke’s financial progress in the last couple of years, especially the University’s success in reducing its operating budget, which prompted significant savings. He also noted the University’s simultaneous commitment to investment and the state of the Duke University Endowment.
“It’s good to see the progress in the Duke University Endowment over the last couple of years, in essence regaining the ground that was lost in late 2008-2009,” Wagoner said. “From that perspective, the University is in very good condition financially, but with the lessons learned from the recession, we need to constantly ensure that the University is running as efficiently as possible, while also investing in important areas such as enhancing our students experience, our faculty and our programs.”
Fuqua Dean Blair Sheppard, who also serves on Fuqua’s Board of Visitors, said Wagoner’s life experience and multidimensional Duke experience makes him particularly suited to chair the Board.
“He’s a good student of Duke, he has wonderful judgement, he is encouraging when he should be, he asks the right questions when he should,” Sheppard said. “And given his range of personal experience, he can give wisdom in a way that very few people can.”
Sheppard added that a real benefit of Wagoner’s time on the Fuqua Board of Visitors—Wagoner joined the board in 1995 and serves on it currently—is that it has provided him a unique window into the University. He noted that Wagoner also co-taught a class on crisis management at Fuqua last Spring.
Wagoner will succeed outgoing Chair and Democratic N.C. state Sen. Dan Blue, Law ’73. Blue served as chair since his election in May 2009 and said he believes
“I think Rick will be a tremendous chair,” Blue said. “I think he has the requisite skills, ability and vision to do great things. I think he has skills and experience to do an exceptional job with the Duke Board and an exceptional job as chair.”
Blue added that, as chair, it will be important for Wagoner to continue to focus particularly on the University’s international efforts, as Blue said globalization is one of the best ways for the University to further its mission.
Wagoner added that the opportunity to work under Blue has prepared him well for the role of chair.
“There’s nothing like having the opportunity to observe those that went before you in this position, who, when they had an opportunity, did just a terrific job for Duke,” Wagoner said. “Dan Blue and I served as vice chairs together with Bob [Steel, former Board chair and Trinity ’73], and then I was vice chair under Dan’s leadership, so I had a chance to work very closely with the last two chairs and President Richard Brodhead. That was excellent training to see up close what things the chair needs to do to be as effective as possible.”
Wagoner said he and the Board also hope to improve the connections between the Board and students and faculty. The Board has discussed having specific members lead meetings or discussions with student clubs or organizations that may align with the member’s experiences or interests.
“One of the things we have discussed recently at the Board is a desire for more opportunities for Board members to interact with students,” he said. “[University Secretary] Richard Riddell has been working on some ways to accomplish this. I think there’s always an appetite to have more interaction, as it’s always energizing to have a chance to engage with and learn from members of the Duke community, whether a faculty member, students or administrator. Such interactions always leave us with a good and important reminder of the true mission of the University.”
Get The Chronicle straight to your inbox
Signup for our weekly newsletter. Cancel at any time.