After seven years of influencing policy and molding Miami University's future, Richard K. Smucker, of the jam and jelly-making J.M. Smucker Co., has ended his tour of duty on Miami's board of trustees (BOT).
With the recent addition of deputy chairman for the Cleveland Federal Reserve Board to his resume, Smucker's number of responsibilities has become even larger.
Smucker has been a Miami trustee since May 2003 and served as chairman of the board from 2007 to 2008. His resignation was effective Dec. 31, 2009.
Smucker said it was an honor to be asked to serve as a trustee and he's long had ties to Miami.
"It's a big part of my life and my family's life," Smucker said.
Smucker's parents attended Miami, and as a member of the class of 1970 Smucker met his wife at the university. His wife's father was a professor at Miami and three generations of her family attended Miami, including her grandparents.
"When I came to Miami it lived up to my thoughts," Smucker said. "The history and heritage is special."
Smucker said after graduation he never thought he would become a trustee.
"When you graduate your focus is to get a job, mine was to come back to the family business," Smucker said. "(Being a trustee) wasn't in my future thoughts."
Smucker said the BOT has two main responsibilities - to make sure the university has the right leadership and a good strategic plan.
"As a group we feel comfortable those things have been accomplished and will continue to be implemented," Smucker said. "The opportunity (we had) to recruit a new president was extremely important."
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Smucker said he'll miss the visits to Miami he was able to make as a trustee, as well as the friends he has made.
"I'll miss the friendships and camaraderie with the fellow board members," Smucker said. "We get together the night before meetings at the Miami Inn pub area. It's a chance to visit and talk about old times at Miami. It wasn't just business."
Donald Crain, trustee on the BOT, graduated in the same class as Smucker at Miami.
"We have fun talking about those days," Crain said. "It's been a wonderful experience to get to know Richard and his personal life."
Smucker said due to the financial challenges facing universities right now, the workload of being a trustee has grown during the past few years.
"Meetings and phone calls have increased and more time and effort is needed," Smucker said. "We have a very effective board of trustees. The team is diverse and has a tremendous amount to give."
Smucker's new role at the Cleveland Federal Reserve Board is important as there are only 12 Federal Reserve banks in the country.
"They meet quite frequently, five to six times a year, and conference calls a lot," Smucker said.
Steve Snyder, secretary to the BOT, said under Ohio law members of the BOT of universities and community colleges are appointed by Gov. Ted Strickland and his appointment office.
Snyder said the university is able to offer suggestions but has not made any yet.
Snyder said Chancellor Eric Fingerhut of the Ohio Board of Regents will be involved in the screening process.
"It's a waiting game on our end," Snyder said.
Snyder said trustees are usually alumni who have worked on other volunteer boards or advisory committees.
Snyder said the university hopes for people who are open-minded, loyal, have a good work ethic, love the institution and have been successful in their chosen career.
"We don't want someone with a personal agenda," Snyder said.
Snyder said Smucker's resignation has been in the works for the last several months, but the board is still getting used to the idea.
"The opportunity he has at the Cleveland Federal Reserve Board is a significant position and we understand the time commitments," Snyder said. "It's an honor for him and is in his best interests."
Snyder has been involved with the BOT for the past 13 years and has been getting to know Smucker during the last seven years.
"I can't say enough good things (about him)," Snyder said. "He's certainly been one of our most significant and outstanding trustees."
Snyder said Smucker is down-to-earth and approachable. Snyder said Smucker, who is co-chief executive officer of J.M. Smucker Co. alongside his brother Tim Smucker, has a great attitude that comes through in his personality. In 2006, J.M. Smucker Co. was named the eighth best company to work for byFortune magazine.
Snyder said a lot of people don't understand the time trustees dedicate to the university. Miami has nine voting trustees, three national trustees and two student trustees. Snyder said trustees are responsible for hiring the president and setting policies, especially those involving money.
Voting members serve a nine-year term. Smucker was seven years into his term. Snyder said the trustee appointed by Strickland will serve an unexpired two-year term, to finish out Smucker's term, before being eligible for a full nine-year term.
Fred Wall, another trustee who has been on the board since 1997, will finish his term at the end of February. Snyder said by April, Miami will have two new voting trustees.
Student Trustee Heath Ingram said Smucker was amiable when they first spoke, when Ingram received a personal phone call welcoming him to the board.
"I thought it was a fraternity brother, so I answered 'Hey, what's up?' and when I found out it was Richard by stomach dropped," Ingram said. "He said he was excited to get to know me and build a relationship. He's been a mentor to me."
Ingram said he and Smucker discuss issues of commerce and the public and private sectors.
"He has a lot of expertise in that area," Ingram said. "If you didn't know his last name or what he did, you wouldn't know he was CEO of one of the most successful companies. He's very well-mannered and easy to talk to."
Crain agreed it will be hard to replace the high expertise of business Smucker has brought to the board.
"He has a calm, steady demeanor and tremendous leadership," Crain said. "It'll be hard to find someone of that caliber. He had a collegiality that was infectious. He is adept at handling delicate matters."
Ingram said Smucker is good-natured but has an old-fashioned, traditional mindset.
"I mean that in a positive way, he's progressive and innovative," Ingram said. "He wants to move Miami forward but perpetuate the best parts of it."
Ingram said Smucker is honorable and constantly tries to elevate people and not bring them down.
"He's the quintessential business man that everyone wants to be," Ingram said. "He's a rare breed and I can't say that about every businessman I've met."
Ingram said as a student trustee, Smucker tried to make him feel comfortable and not subordinate.
"He's held me accountable for representing students," Ingram said. "He has added to the chemistry of the board and that will be difficult to replace."
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