A vision for good governance turns 25

The University of Delaware's John L. Weinberg Center for Corporate Governance was founded on an innovative vision: to create an academic venue where Delaware's leaders could deliberate and advance corporate governance practices.

The idea originated with William Allen, former chancellor of the Delaware Court of Chancery, who envisioned a neutral forum to explore evolving issues in governance. With extensive board experience at companies such as DuPont and Goldman Sachs, John L. Weinberg shared that vision, endowing the center in 2002 to strengthen Delaware's status as the foremost U.S. state for incorporation.

Over the past 25 years, the Weinberg Center, part of UD's Alfred Lerner College of Business and Economics, has become one of the nation's most esteemed governance centers to discuss and debate modern governance issues.

Having achieved its founding objective over the past quarter century, the Weinberg Center's Director Lawrence Cunningham said it "is marking this milestone by continuing what such university programs do best, publishing materials that encourage intellectual conversations."

That mission was on full display Oct. 9 as governance professionals, UD alumni and Delaware leaders gathered to celebrate the Weinberg Center's 25th anniversary with a symposium, luncheon and gala dinner.

The day's events centered on Boardroom Legacy, a forthcoming book on the evolution of corporate governance featuring the unpublished 1948 Princeton thesis of Weinberg and commentary from leading thinkers in the field on its ideas.

Cunningham first learned of Weinberg's thesis through an online reference and located the manuscript at Princeton University. Impressed by its timeless ideas on the role of corporate directors, he saw its publication as an ideal cornerstone project for the anniversary year because it expressed a shared ideal that has guided both the ongoing efforts of the center and Weinberg's boardroom leadership.

"John believed in what we now call 'good governance' - active, engaged boards that take oversight seriously, ask tough questions and act when they see problems," said Cunningham. "That commitment continues to guide the center's programs and publications."

The symposium at UD's Clayton Hall featured presentations by Boardroom Legacy's contributing authors. During the luncheon, former Delaware Supreme Court Justice Leo Strine, a contributing author to the book and UD alumnus, was awarded the UD Medal of Distinction by the University's Board of Trustees and delivered the keynote address.