Purdue News
Purdue NewsDecember 3, 1997
Ford has announced his plans to Purdue trustees and President Steven C. Beering.
"I believe this is an excellent time to step aside, allowing my replacement ample time to season under President Steven Beering's leadership before a new president arrives in the year 2000," Ford said. "My career at Purdue has been -- and continues to be -- immensely satisfying, but I have reached a point where I would like to have some room for personal activities. I want to spend more time with my wife, Mary, do some traveling and visit our children."
Ford serves as the treasurer of the board and as executive vice president of the university. He chairs the group that manages securities, funds and trust funds belonging to the university and is responsible for all business and financial affairs, including the preparation and control of budgets, contracts, grants and purchasing, as well as internal audits, investments, personnel functions, management information, housing and food services, construction, and operation of facilities.
"Fred Ford is a Purdue legend, as well as a nationally respected financial authority. He will be missed profoundly," Beering said. "The professional contributions he has made to the university and the integrity with which he has built our current financial operation will continue to have a positive impact on the students, faculty and staff at Purdue well into the next century."
J. Timothy McGinley, chairman of the Board of Trustees, said: "Dr. Ford's dedication to Purdue and his financial acumen are unmatched. His leadership has made this university one of the best-managed institutions in the world."
Beering said that plans for succession would be announced soon.
A native of Kentland, Ind. , Ford began his career at Purdue in 1959 as assistant to the business manager and was promoted to his present position in 1973, succeeding the retiring Lytle J. Freehafer. He has served under three presidents and one interim president: Frederick L. Hovde, Arthur G. Hansen, John W. Hicks III and Beering.
"I've been very fortunate to have served under three very exceptional presidents, and also to have had outstanding mentors like R.B. Stewart, Lytle Freehafer, John Day (former dean of Purdue's School of Management) and Francis Finn (former business manager and assistant treasurer of Purdue)," Ford said. "I've also been blessed with the best-qualified and most-dedicated professional staff in higher education anywhere."
Ford has won numerous awards, including the highest honor given by the National Association of College and University Business Officers for making Purdue's "financial operation a model of efficiency and integrity." The association noted several of Ford's innovations, among them: business administrators based in academic and operating units; various training programs for supervisors as well as clerical and service staff; use of tax-exempt commercial paper for financing major capital programs; a computerized cash-management investment system; a 10-year physical plant repair and rehabilitation program; and implementation of employee involvement groups in participative management.
Recently, Ford's area played a leadership role as the university adopted total quality management principles systemwide.
"I'm especially proud that Purdue provides an internationally renowned education and yet is a real bargain for the state of Indiana," Ford said. "Purdue squeezes more out of its dollars than most universities and has been doing so for a long time. Based on conversations with my counterparts nationwide, Purdue is in the top 10 percent in fiscal responsibility and good debt management."
He cited these as among the reasons: a lean senior management team; no frills in support services such as payroll, accounting and physical plant; and low operating costs. One significant way Purdue saves money, Ford said, is by issuing bonds with variable interest rates to pay for new buildings. Variable rates are lower than fixed rates, so Purdue pays less interest. The money saved is then applied toward the principal, allowing Purdue to pay off the loans earlier. Since Ford began using variable rates in 1982, Purdue has saved more than $38 million in interest.
Ford also has overseen financing and construction of more than $400 million in major construction projects and $200 million in major repair and renovation projects. Recent ones include the Hansen Life Sciences Building; the Liberal Arts and Education Building; the power plant expansion; Hillenbrand Hall, a student residence hall; major expansions to the engineering, veterinary medicine and athletic complexes; and a new food science and biotechnology complex.
Other recent landmark projects completed during Ford's tenure include construction of a new bell tower; the creation of three outdoor malls -- the Purdue Mall, Founder's Park and Academy Park -- and a telecommunications project to rewire the campus.
Ford also is active with several Purdue-related corporations: as treasurer of the Indiana University-Purdue University Foundation at Fort Wayne; vice president and treasurer of the Purdue Academic Facilities Foundation; trustee member of the Purdue Research Foundation; and treasurer of the Purdue Foundation.
Ford serves as a national-level trustee for the Teachers Insurance and Annuity Association and is the chairman of the Research and Doctoral Universities Council of the National Association of College and University Chief Business Officers. He is a member of the Technical Advisory Group on Costs of Research of the Association of American Universities and is a past member of the Board of Management of the Council on Governmental Relations and the National Association of College and University Business Officers. He is a fellow in the Stanford Forum for Higher Education Futures and a member of the board of directors for Circle Income Shares Inc.
Ford holds three degrees from Purdue: a bachelor of science in mechanical engineering and a master's degree and doctorate in industrial management.
He married Mary Harrison in 1959. She is a 1959 graduate of Purdue with a bachelor of science and master's degrees in home economics.
Ford's civic activities include membership in the Greater Lafayette Chamber of Commerce, of which he is a past president. Ford also has been involved on the boards, cabinets or committees for the United Way of Greater Lafayette, St. Elizabeth Hospital Medical Center, Central Presbyterian Church, Delta Upsilon International Fraternity and the YMCA Building Fund.
Source: Frederick R. Ford, (765) 494-9705
Writer: Jeanne Norberg, (765) 494-2084; e-mail jeanne_norberg@purdue.edu
Purdue News Service: (765) 494-2096; e-mail, purduenews@purdue.edu
NOTE TO JOURNALISTS: A black-and-white photograph of Frederick R. Ford is available from Purdue News Service, (765) 494-2096.
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