Accounting Department Named for William Dillard
FAYETTEVILLE, Ark. – In recognition of his pioneering work in the retail field and founding of the department store chain that bears his family name, the accounting department at the Sam M. Walton College of Business at the University of Arkansas will be named the William Dillard Department of Accounting.
William T. Dillard (1914-2002) graduated from the University of Arkansas' College of Business Administration in 1935 with a degree in accounting.
Dillard was responsible for the development of one of the nation's retail giants, with its rapid growth and success attributed to his personal work ethic and hands-on approach to management, his ability to turn marginal operations into profitable concerns and his efficient system of distribution and inventory control. Dillard himself attributed his success to a commitment to customer satisfaction and reasonable pricing.
The William Dillard Department of Accounting is one of only two named departments on the University of Arkansas campus.
“We are pleased and honored to have the William Dillard Department of Accounting established at the University of Arkansas,” said Chancellor Joe Steinmetz. “Mr. Dillard’s leadership and accomplishments in business are an inspiration to our students and faculty and the naming of this department in his honor ensures his legacy will continue to inspire our students and serve our campus for years to come.”
Dillard was inducted into the first class of the Arkansas Business Hall of Fame in 1999. His son, William T. Dillard II, current chairman and chief executive officer of Dillard’s Inc., joined his father in the hall of fame in 2016. The younger Dillard graduated from the U of A in 1966 with a degree in accounting and has given $6.5 million to support the accounting department toward a planned total gift of $10 million.
“The act of naming a department is pivotal to the continued improvement of the accounting department and to our college as a whole,” said Matt Waller, Walton College dean and Sam M. Walton Leadership Chair in Business. “The recognition it represents and the association with the business acumen and success of Mr. Dillard strengthens our ability to attract the best students and attract and retain top faculty.
“Naming also recognizes the contribution of outstanding Arkansans such as William Dillard to the University of Arkansas and our state and is consistent with our position at Arkansas’ flagship university.”
The gifts will have a transformational impact on the development of the accounting department.
“Hundreds of students already benefit from Mr. Dillard’s generosity every year,” said Gary Peters, department chair and holder of the S. Robson Walton Endowed Chair in Accounting. “Thousands of students, the accounting profession and the Arkansas business economy will continue to benefit for years to come. As a member of Arkansas’ flagship university, the accounting department has a storied history of contributions to Arkansas’ accounting profession. Dillard’s gift expands those contributions and opportunities for students as a nationally recognized program.”
Naming gifts meet needs that bring extensive benefit to the department, its faculty and students.
The Dillard gifts will support, among others:
- Faculty development and retention
- Professional outreach
- Program innovations
- Research and doctoral funding
- Accounting analytics and technology curriculum
- Masters of Professional Accounting scholarships
- Executive-in-residence opportunities
The William Dillard Department of Accounting joins the Ralph E. Martin Department of Chemical Engineering as the two named departments at the U of A. In 2005, Ralph E. Martin, who was born in Eureka Springs and who founded PetroFac Inc. of Tyler, Texas, gave $5 million to endow the chemical engineering department.
All naming opportunities are subject to approval by the University of Arkansas Board of Trustees.
About the University of Arkansas: The University of Arkansas provides an internationally competitive education for undergraduate and graduate students in more than 200 academic programs. The university contributes new knowledge, economic development, basic and applied research, and creative activity while also providing service to academic and professional disciplines. The Carnegie Foundation classifies the University of Arkansas among fewer than 3 percent of universities in America that have the highest level of research activity. U.S. News & World Report ranks the University of Arkansas among its top American public research universities. Founded in 1871, the University of Arkansas comprises 10 colleges and schools and maintains a low student-to-faculty ratio that promotes personal attention and close mentoring.
David Speer, senior director of communications
Sam M. Walton College of Business
Four recent Arkansas high school graduates, now freshmen in Fulbright College, have received one of the university’s oldest and most prestigious fellowships, worth $72,000.
In celebration of Hispanic Heritage and Latinx month, the U of A will host the 16th annual Plaza de las Americas event from 4-5:30 p.m., Friday, Sept. 24, at the Arkansas Union Mall.
Alex and Chris Nelson are brothers who are both College of Engineering faculty members and alumni of the U of A. Hear their story in the newest Short Takes.
Tyler Mlakar has won first prize in the annual Law Student Writing Competition sponsored by the American Bar Association's Forum on Construction Law.
Pat Walker Health Center is now offering flu vaccines for the U of A community. Along with regular appointments, a drive-through clinic will be offered 10 a.m. to 2 p.m. Sept. 28-29.