The University of Memphis Board of Trustees has been selected to receive a prestigious award for their leadership during the time they have been representing the university.
The John W. Nason Award for Board Leadership, which is given to just six universities annually for “exceptional leadership and initiative,” is being awarded to the board by the Association of Governing Boards of Universities and Colleges, an organization that focuses on aiding governing boards for higher education institutions that was started in 1921. Specifically, the board is being recognized for its efforts in helping students financially, providing opportunities for real-world experience and making sure that students feel at home on campus.
Though they only meet a few times a year, the Board of Trustees is responsible for important decisions at the university, like setting tuition or acquiring funding. Created in 2017, the board allows for greater autonomy within the university’s administration because it is separate from the Tennessee Board of Regents, which used to hold control.
“Our role in a lot of respects is to help the administration get the resources they need to fulfill our mission,” said Douglas Edwards, chairman of the board. “One of the things that’s important to all of us is that the University of Memphis be accessible and affordable. That’s something Dr. Rudd and the current administration have done a particularly good job at: keeping tuition rates steady.”
Edwards, a University of Memphis graduate, has plenty of real-world leadership experience which he said, along with the help and experience of his colleagues, has helped get the board to where it is today.
Currently the senior advisor of Brown Brothers Harriman, a private investment bank, he is also the president of Edwin M. Jones Oil Company and was once the CEO of Morgan Keegan & Co. – which merged with Raymond James in 2012. Edwards is involved in numerous other businesses as well, including serving as the past chairman of the Baptist Memorial Healthcare Foundation.
The remaining members of the board are also prominent in the business world, consisting of CEOs, CFOs and presidents of various companies, including Marvin Ellison, CEO of Lowe’s and Carol Roberts, former CFO and senior vice president of International Paper. In 2016, Ellison was named by Fortune magazine to their “World’s Greatest Leaders” list.
“Over time, you have the benefit of experience,” Edwards said. “It gives us perspective on the impact that the university can have on our community. Ultimately, we want our students to graduate and to be productive members of society and help us to build a strong Memphis… and to develop a work force in this community that will attract businesses and make everybody’s life better.”
Recently, the board has had to put its leadership skills to the test with no shortage of important decisions for the board to make about developments for the university.
Edwards described filling the shoes of outgoing president Dr. M David Rudd as a significant challenge. Rudd has been president for over seven years but will be stepping down this semester. He expressed excitement over the board’s decision last year to select Bill Hardgrave as the next university president.
Additionally, last December, the University of Memphis received its long-sought after designation of Carnegie R1, that denotes very high research activity, something that greatly increases both positive perception of the university as well as the value of a degree awarded by it.
Edwards acknowledged this development as extremely important to the University’s reputation. “[The designation] is one of the proudest accomplishments of the current administration,” he said. “It will pay dividends for many years to come.”
As for the future of the University, Edwards has high expectations. “I would like to see the University of Memphis recognized as a flagship university in the state.” he said. “The last four years have been very productive in moving the university forward. Having the benefit of our own local governance has made it possible for us to do some things we couldn’t have done previously, so it’s kind of all moving upward from here.”
