The Board of Trustees elected William Osborn (WCAS ’69, Kellogg ’73) as its chairman Saturday. Osborn will bring a wealth of experience to the Board of Trustees, including his involvement in the selection committees for both President Henry Bienen and his successor, Morton O. Schapiro, as well as his membership on the boards of many prominent Chicago-based organizations. As chairman of the Chicago Symphony and Northern Trust Corporation, Osborn has extensive experience working in an advisory capacity and will be well-suited to work with incoming University President Morton Schapiro in the fall. Osborn’s colleagues have spoken to his extensive résumé and his far-reaching NU and Chicago connections. However, his involvement with the Northern Trust Corporation, a recipient of $1.6 billion in federal bailout funds, might still prove problematic.

Northern Trust ignited controversy Tuesday when the press broke that it sponsored a Florida golf tournament and flew in employees and their guests for lavish parties and excessive celebrations. Lawmakers have accused the company of “frittering away money” on these events. Northern Trust executives have countered criticism by asserting that the money spent was from reserves, not from government bailout money. Companies such as Morgan Stanley have canceled similar events in response.

Along with incoming President Schapiro, Osborn will bring a new perspective to the University – he has the qualifications and experience necessary to face the challenges that lie ahead. However, due to the case of Northern Trust, Osborn should be open and forthright in answering questions and assuaging students’ and donors’ recent concerns about the events at Northern Trust. We hope that Osborn and Schapiro are able to continue the progress their predecessors have made and take up the mantle of leadership at NU.