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Show - 2 - endowment and all properties of the University, administers the invested funds, fixes the annual budget, and determines policies for operation and control of the University. Perhaps most importantly of all, it appoints the University President and passes upon his recommendations for faculty appointments and changes. Certainly in this latter function the Board has performed well, for Wally Sterling is unquestionably a man outstanding in our time, a rare combination of high professional competence, driving energy, warm personal charm, a leader with the historian's appreciation of the past, a businessman's recognition of the problems of the present, and a statesman's determination to plan and to build for the future. Within the ranks of the Board of Trustees, consisting of twenty regular trustees, three alumni trustees, and three emeritus trustees, there exists a vast accumulation of experience in political, professional, and industrial life. Among its members are men who served or are serving in such distinguished posts as President of the United States, Justice of the Supreme Court of California, Legal Advisor of the Secretary of State, Associate Director of the Legal Office of Military Government in Germany, Assistant Secretary of Defense, Assistant to the President of the United States. Its members are officers or directors of many prominent business firms, covering such industries as public utilities, banking, insurance, petroleum, steel, railroad, investment banking, pulp and paper, outdoor advertising, textiles, property management, paint and glass, newspaper publishing, food, mining, electronics, building and loan, building materials, ocean shipping, ship construction. Perhaps no finer tribute has been paid to the quality of the Stanford Board of Trustees than the fact that in each of the last two years a member of our Board has been selected as the "outstanding alumnus of the year" by the University of California. Please accept my assurances that this Board has the desire and the ability to serve Stanford well and is working hard at its Job. Its only compensations are preferred seats for the "Big Game", the inner reward that comes from |
