Published on Nov. 7, 2013
Updated on Jan. 18, 2019
Richard L. Wallace, the 20th chief executive officer of the University of Missouri, served as chancellor from 1997 to 2004.
Wallace joined the MU faculty as an assistant professor of economics and community health and medical practice in 1966. During his 38 years at Mizzou, he held positions including chair of the Department of Economics, associate dean of the Graduate School and associate provost. He also served as associate vice president and vice president of academic affairs for the University of Missouri System 1985-96. He was named MU’s interim chancellor in 1996 and chancellor in 1997.
Teaching and Learning
Wallace graduated from Northwestern University with a bachelor’s degree in journalism in 1958 and earned a doctorate in economics from Vanderbilt University in 1965. Before joining the MU faculty, he was an instructor and assistant professor of economics at Florida State University 1961-1966
As a professor of economics and community health and medical practices at MU, Wallace explored research and teaching interests related primarily to public utility regulation and health economics. From 1975 to 1996, he also chaired the planning committee for a national symposium on public utility regulation.
Legacy
Wallace’s leadership of MU was notable for strategic planning, an open budget process, the fastest growth rate in federal research support in the Association of American Universities, a focus on the life sciences, significant growth in private fund-raising and partnerships with other institutions.
During his years as chancellor, Wallace remained committed to a vision of enhancing MU’s standing among the nation’s leading land-grant research universities. But one of his proudest accomplishments during this time is the adoption of a set of campus values that have become a centerpiece of the university community. Now enshrined on Francis Quadrangle, those values are respect, responsibility, discovery and excellence.
While Wallace was in office, MU earned the nationally prestigious Hesburgh Award for excellence in general education and was recognized by the National Science Foundation for undergraduate research.
Leadership
As chancellor, Wallace represented the university in several national organizations, including the Association of American Universities, the Missouri Council on Public Higher Education, the Board of Directors of the Big 12 Conference and the Board of Directors of the Donald Danforth Plant Science Center.
Wallace has served on many university, community and national boards and councils. He has served as MU’s representative to the Association of American Universities, chairman of the Missouri Council on Public Higher Education and a member of the board of directors for the First National Bank and Trust Company.
Accolades
The recipient of numerous honors, Wallace has received the Faculty Service Award from the National Continuing Education Association and the J. Rhoads Foster Award for outstanding contributions to the public utility regulatory process. He has been honored as Communicator of the Year by the Mid-Missouri Chapter of the Public Relations Society of America and awarded an honorary doctor of philosophy degree by Chonnam National University in Korea. In 1998, he was inducted into Northwestern University’s Medill School of Journalism Hall of Achievement.
Richard Wallace and his late wife Patricia (1936-2014) are the parents of two Mizzou graduates, Sandra Wallace and Lisa Evans, and the grandparents of Bradley and Brittany Evans.