RUSSELL PALMER

PALMER--Russell E., Jr. Russell E. Palmer Jr., a Philadelphia entrepreneur, business leader, and philanthropist, died on June 14, 2025, at the age of 90. Though perhaps best known for his success in business, Mr. Palmer was also a passionate educator who served as Dean of the Wharton School and established an iconic leadership course for MBA students that drew on his experience in the private sector. According to a 2025 Wharton graduate, the latest incarnation of that course remains "by far the most popular" course at Wharton. "I am sorry to hear of Mr. Palmer's passing," said the graduate, "but he certainly left an indelible legacy." After graduating from Michigan State in 1956, Mr. Palmer embarked on a prolific career in accounting and consulting that saw him become the youngest-ever CEO of a "Big Eight" Accounting firm: at the age of 37, he began a ten- year term as Managing Partner and CEO of Touche Ross & Co. (now Deloitte). After his retirement from Touche Ross, Mr. Palmer remained the trusted advisor and was instrumental in effecting the equal merger with Deloitte which was viewed as the most successful of the mergers that led to the "Big Four" public accounting and consulting firms today. In 1983, Mr. Palmer pivoted from the private sector to education when he was appointed as the tenth Dean of the Wharton School. In seven years at Wharton he not only developed the innovative leadership course, but also built an executive education program (along with a complex to house it) and was instrumental in attracting over 100 new faculty members to the school. His impact on Wharton was concisely encapsulated by the fact that Business Week had Wharton ranked as a top ten business school when he arrived, but as the number one business school by the end of his tenure. Mr. Palmer never lost sight of his humble roots growing up in a low-income household in Jackson, Michigan, working multiple part-time jobs starting at the age of 12 all the way through college. Arriving at 6am for his first day of work as the new Wharton School Dean, he found the main business school building locked and so he waited, and when the janitor arrived sometime later, they had coffee and opened up the building together, a tradition he continued with the janitorial team through his tenure at Wharton. He was widely known as the Dean whose door was "open," who listened with interest, had compassion and treated everyone with the same respect, regardless of their station life. Mr. Palmer continued his interest in education through his "third career" with the founding of The Palmer Group, a Philadelphia-based private equity firm that specialized in acquiring and investing in education-related companies. An astute businessman and revered mentor, Palmer was respected for his outside-the-box ingenuity in both acquiring companies and hiring employees. As one former employee at The Palmer Group put it, "he took a chance on me when few others would, and [taught me] about business and life." Mr. Palmer brought his business acumen to bear in many arenas, serving on twelve New York Stock Exchange boards including Honeywell International, Inc., Verizon Communications, Inc., The May Department Stores Company, and The Goodyear Tire & Rubber Company. Mr. Palmer was widely known and respected as a Board member who practiced and insisted on the highest standards of independent governance and he had an unbending ethical backbone. He was also a Trustee Emeritus of the University of Pennsylvania and a Trustee of the National Constitution Center, in addition to serving on the board of The Mann Center for the Performing Arts, Main Line Health, the Johns Hopkins University Carey Business School Board of Overseers, and the Smithsonian National Board. An ongoing theme of Mr. Palmer's career was his belief that business can and should serve the public interest, and he wrote and lectured extensively on this and other topics related to business and education. His articles and essays have appeared in Business Week, the New York Times, and many other publications. He also authored the book Ultimate Leadership, which was released in 2008. Mr. Palmer's passion for serving the public interest continued throughout his final years. In 2021, he and his wife Wendy established the REP Family Foundation to give underserved youth, particularly in Philadelphia, the same education opportunities as others. The broader mission of the REP Family Foundation is to provide leadership, support services, education-focused programs, scholarships, and financial support to independent schools, charter schools, and an array of local and other non-profit organizations that support underserved youth. He also led the way in establishing the Russell Palmer Career Management Center at the MSU/Broad College of Business, which will provide comprehensive guidance and resources to help students build rewarding business careers well into the future. Mr. Palmer's contributions to public service have been widely recognized by honors ranging from The Salvation Army Order of Distinguished Auxiliary Service to the Jewish Philanthropics Humanitarian Award to Brandeis University's Distinguished Community Service Award. His educational contributions have been celebrated through honorary degrees from institutions ranging from York College to the Free University of Brussels to the University of Pennsylvania. His achievements in the business world and philanthropy have been recognized by awards such as the LEAD Business Award, as well as Lifetime Achievement awards from Broad College and the Zell Laurie Center. Despite the considerable recognition he received in his life, Mr. Palmer was by all accounts a humble man who cared little about awards, a man who focused his considerable talents and attention on loving his family, uplifting others, and serving the public good. Mr. Palmer is survived by his wife, Wendy Palmer, sons Bradley C. Palmer, Stephen R. Palmer and Russell E. Palmer III, daughter Karen Palmer Korfmann, 16 grandchildren, and former wife Phyllis (Hartung) Palmer. Family and friends are invited to attend a Celebration of Life Service to be held on Saturday, June 28, 2025 at 11am. At The First Presbyterian Church in Philadelphia, 201 South 21st Street, Philadelphia, PA 19103. In lieu of flowers, contributions to his memory can be made to the Children's Scholarship Fund Philadelphia.