April 12, 2011

Focusing on establishing an ethical corporate culture and long-term planning for results may be the keys to overcoming future corporate scandals, Indra K. Nooyi, chairman and CEO of PepsiCo told an audience of corporate VIPs at the 10th anniversary dinner for UD’s John L. Weinberg Center for Corporate Governance on Wednesday.

Held at the Hotel du Pont in Wilmington, the celebratory event brought together a variety of leaders in corporate governance, law and business in an effort to honor the center’s national contributions in forward thinking policy reforms and educational programs in the corporate law and governance fields.

According to Nooyi, who by 2010 was ranked No. 1 by Fortune on its “50 Most Powerful Women” list, the Weinberg Center itself can be a powerful force for shifting thinking toward the harmonization of profits and responsible governance.

“We must not focus on the short term but rather concentrate on creating long-term value,” said Nooyi. “We cannot regulate ourselves into good conduct—high ethical standards must come from the culture of the corporation itself.”

The Weinberg Center, which resides in the Alfred Lerner College of Business and Economics, is led by Charles Elson, Edgar S. Woolard, Jr., Chair of Corporate Governance, along with associate director Roger Coffin and administrative assistant Alba Bates.

“The Weinberg Center is now one of the nation’s leading corporate governance centers and has achieved this distinction in such a short time – 10 years,” said Bobby Gempesaw, dean of the Lerner College. “Thanks to the outstanding leadership of Professor Charles Elson, the Lerner College is able to provide students and faculty the opportunity to engage with top business leaders, lawyers, judges and the public in the latest issues in corporate governance.”

Over the past 10 years, the Weinberg Center has worked at the highest levels of policy and lawmaking, including testifying before Congress and regulatory bodies in Washington, D.C., counseling legislators on matters of corporate law and governance and working with boards of directors and CEOs.

In addition, the Weinberg Center fulfills an important educational mission at the University through a unique and acclaimed corporate governance course at the undergraduate and MBA levels.

A distinctive element of the curriculum of the corporate governance course includes hosted panel discussions of leading business and other experts who come to Delaware to share views and create solutions to economic, market and legal issues.

Article by Kathryn A. Marrone  |  Photos by Duane Perry