The Board of Trustees of Northwestern elected William Osborn (WCAS ’69, Kellogg ’73) as its next chairman Saturday, university officials announced Monday. In September, Osborn will replace chairman Patrick Ryan (WCAS, ’59), who heads the campaign to bring the Olympic Games to Chicago in 2016.
“I’m very humbled by the board’s confidence in me,” Osborn said in a phone interview Monday evening. “I think the biggest issue is to continue the momentum that has been built for the university that has been created by (Ryan) and (University President Henry Bienen).”
Osborn led the search committee that selected Williams College president Morton Schapiro to succeed Bienen, said Al Cubbage, vice president for university relations.
“This is sort of what NU has done the last couple times,” Cubbage said. “The person who chairs the search committee for the new president becomes the new chair of the board. This is now the third time that’s happened.”
Although not a requirement, this will be the third consecutive time the chairmanship and the presidency change hands in the same year.
Osborn, who has been a member of NU’s board since 1996, also serves as chairman and director of Northern Trust Corporation and its principal subsidiary, The Northern Trust Company. He is also a director of Caterpillar Inc., Tribune Company and Abbott Laboratories.
“Mr. Osborn in my mind is a remarkable individual,” Cubbage said. “He’s got strong Northwestern connections and strong Chicago connections.”
Others on the board shared Cubbage’s sentiments.
“He’s a very experienced guy,” said Benjamin Slivka, an 11-year trustee. “He started at Northern Trust in the ’70s and worked his way up all the way to be CEO.”
Still, the expectations are high.
“Henry’s shoes are pretty big,” Slivka said. “That’s a challenge for anyone.”
Osborn said his previous experience will aid him in his new position.
“I’m chairman of the Chicago Symphony and chairman of Northern Trust – I’m familiar with the role,” he said. “It’s a role of looking at the bigger picture and helping give guidance to the president. It’s a role of helping to raise money. It’s a role of helping to facilitate the wonderful cooperation we have between Northwestern and its schools.”
Looking forward, Osborn said the nationwide economic recession will be a significant issue during his time as chairman.
“How do you provide the liquidity and access to cash the university needs in these challenging times?” he said.
As for Schapiro, Osborn said he looks forward to working with someone who has administrative experience.
“First of all, he’s a proven leader,” he said. “He’s got a terrific track record. He has a real enthusiasm and energy about him.”
