Keynote Honors Contributions of Allen and Weinberg

This keynote lecture honors the intellectual contributions of John L. Weinberg and William T. Allen on the occasion of the 25th anniversary of the Weinberg Center for Corporate Governance at the University of Delaware. The lecture surfaces common themes in the extensive writings of Chancellor and Professor Allen on corporate governance, and in the singular lengthy writing of John Weinberg, his senior thesis focusing on the critical role of boards of directors in governing public companies. Both considered it critical to educate corporate leaders about their duties, and the relationship those duties had to not just the best interests of the corporation and its stockholders, but to society itself. Both also stressed the need for high integrity corporate leadership, characterized by a commitment to speak with candor and act with independence when that was necessary to do what was right. Both believed deeply in the nation’s commitment to the rule of law and freedom, and believed that principled corporate leadership was vital to ensuring that our society as a whole benefited from a market economy. The lecture addresses these themes and finishes by relating them to the current moment during which fundamental principles Weinberg and Allen accepted as essential to our society are under serious challenge, and the ethical and moral questions this moment poses to leaders of not just business corporations, but of all key institutions in our society.