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Those who serve on other boards--which range from small growth companies to fortune 500 businesses such as IBM--say they gain important experience and fundraising connections that ultimately benefit Harvard. But some ethicists question whether the close ties of the University's top officials to corporate American representsa conflict of interest...
Nowhere is the potential for conflict moreclear than in the stocks the University holds. Asof June 30, 1990--the latest date for which listsof the University's major stock holdings areavailable--Harvard had holdings in at least fourcompanies for which members of the governingboards now serve: Atlantic Richfield, IBM, J.P.Morgan & Company and The Pittston Company...
Overseer Thomas S. Murphy, chair and chiefexecutive officer of Capital Cities/ABC, sits onthe board of corporate heavyweights such as IBM,Johnson & Johnson and Texaco--all of them membersof the Standard & Poors 500 Index...
...work at IBM, Murphy received a $55,000annual retainer last year as well as an additional$5,000 for serving as chair of IBM's ExecutiveCompensation and Management Resources Committee.IBM also awarded Murphy 100 shares of thecompany's stock upon completion of his membershipyear...
...IBM...