On May 5, 2001, the Institute
of Paper Science and Technology (IPST) granted its
first honorary degree in its 72-year history. The degree
of Doctor of Philosophy, honoris causa, was conferred
upon Robert C. Williams for a lifetime of achievement
in the paper industry. President James L. Ferris conferred
the degree upon Mr. Williams during the 71st Commencement
Exercises held on the IPST Atlanta campus.
In remarks to the 2001 graduating class, Dr. Ferris summarized
the achievements of Mr. Williams. In April 1969, Bob Williams and
partner Brent Halsey, both Institute alumni, purchased an aging
mill from the Ethyl Corporation for $1.4 million and launched the
James River Paper Company in Richmond, Virginia.
Seventeen years later the James River Corporation was the largest
paper company in the world. The phenomenal growth resulted from
over 50 acquisitions made by the company in that period. The burgeoning
company grew through innovative financing that set the example
for the leveraged buyouts that became standard in later years.
The new management brought a product and customer focus to the
company long before it was adopted by industry in general. They
focused on their employees and extended stock-option and ownership
programs throughout the organization to share profits and risks
in the company.
Dr. Ferris encouraged the 2001 graduates to be inspired by the achievements
of Robert C. Williams. "These things were highly innovative
for their time and led industry thinking to new ways to manage,
lead, treat people, and grow. I encourage you to be innovative
and bold in your thinking. Bob Williams thought big and bold
and changed an industry ".
Throughout the creation of James River, Bob Williams and Brent Halsey
maintained a leadership style based on a strong sense of values.
They managed on six basic principles. First and foremost: Ethics
and fair play in all transactions and relationships. This was a hallmark
of all the James River acquisitions and served all parties well.
Second: Deliver superior value to the customer. James River focused
intently on product development to provide customers with new innovations
and value. Third: Involve employees in decision-making to gain the
best decisions and the best implementation. Fourth: Provide all employees
with the opportunity for company ownership through financial vehicles
such as stock purchase or stock options. Fifth: Jobs first. Although
there were layoffs involved early in the acquisitions, creation of
jobs at the newly acquired mills was a priority once profitability
enabled more growth. Finally: Manage with a profit focus. This was
an overriding principle of the company. If an organization loses
sight of the profit focus, most of the other principles are in jeopardy.
Dr. Ferris admonished the graduating class of 2001 that there is
much in the James River story to learn about leadership of people
and organizations. "These principles powered a company that
astonished the world with its growth, focus, and bottom-line results.
Today, these ideas are well established in this industry, but 25
years ago Bob Williams and the James River team were the first to
implement them and show us all the value of management by principles.
Innovation, boldness, vision, principles, leadership. When combined
together in a single individual, he or she can change the world.
Bob Williams has these traits. Bob Williams and the James River team
changed our industry dramatically."
The IPST Board of Trustees voted to award this first-ever IPST honorary
degree to Mr. Williams in recognition of his lifetime achievement
and contribution to the paper industry. Mr. Williams retired in 1996
as Chairman and CEO of James River Corporation. Dr. Williams and
his wife, Barbara, continue to reside in Richmond. |
