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Published on 03/31/1999 All articles from this issue

Former news exec to head Packard Foundation

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By Carol Tiegs

Special to the Town Crier

Former Times Mirror executive Richard T. Schlosberg III will succeed retiring Cole Wilbur as president and chief executive officer of the Los Altos-based David and Lucile Packard Foundation.

Schlosberg's appointment, announced March 23, concludes a nine-month, international search.

"It was a thorough and deliberative process that took us all over the world and into professional fields not normally covered by foundation CEO searches," said Julie Packard, chairwoman of the foundation board's nominating committee. "In the end, we chose Dick because we thought he had the best mix of leadership, experience, skills and drive to manage the foundation during its next stage."

Schlosberg, 54, joined Times Mirror in 1983, serving as publisher and chief executive officer of the Denver Post. In 1988, he was named president and chief operating officer of the Los Angeles Times, becoming publisher and CEO in 1994. Schlosberg serves on the board of KCET, the Los Angles public broadcasting station. He is a trustee of the National Air and Space Museum at the Dulles Center and a member of the Pomona College Board of Trustees in Claremont. A past campaign chairman of both the Los Angeles and Denver United Way, he has also served on the boards of Junior Achievement and the Library Foundation of Los Angeles.

A Vietnam War veteran, he is a graduate of the United States Air Force Academy and earned a master's degree in business administration from Harvard Business School.

Schlosberg said he was attracted to the Packard Foundation by the values of David and Lucile Packard.

"The foundation's program of work is exciting and challenging, relevant to what needs to be done in the world today," he said. "I was attracted by its breadth and scope."

The David and Lucile Packard Foundation is a private family foundation created by Hewlett-Packard co-founder David Packard in 1964. The foundation's board and staff are guided by five core values transmitted by David and Lucile Packard: integrity, respect for all people, belief in individual leadership, commitment to effectiveness and the capacity to think big.

Started with $17,000, the foundation reported $10.8 billion in assets as of Jan. 31. Nearly all assets are in Hewlett-Packard Company stock, much of which reverted to the foundation upon David Packard's death in 1996. Now the third largest U.S. foundation, the Packard Foundation currently has 113 employees.

Wilbur, who led the foundation for more than 22 years, announced in June 1998 his intention to retire.

Schlosberg said he and his wife, Kathy, will relocate from Southern California to the Bay Area. He assumes his new position on May 3.