An Enduring Legacy: The William Dillard II Leadership Chair

I sit across from Matt Waller, dean emeritus of the Sam M. Walton College of Business, in a coffee shop drenched in afternoon sunlight. For it being two p.m. on a Friday before a long holiday weekend, the place is surprisingly full. We're here to discuss the newly established William Dillard II Leadership Chair, and Waller's warmth makes him an effortless communicator—a testament to his years of academic service.

I settle in and let the tape recorder run. As our hour-long interview unfolds, I quickly realize why Bill Dillard II, CEO and Chairman of Dillard's, Inc., embodies the enduring legacy of leadership and innovation for which Arkansas businesses are renowned.

Overcoming Industry Challenges

"Leadership is the cornerstone of any successful organization," says Waller, the inaugural holder of the William Dillard II Leadership Chair. "Bill Dillard II understands this better than most, having steered Dillard's through challenging times and emerging stronger than ever." Waller highlights how the collaborative efforts between Dillard II and his brother, Alex Dillard, who serves as president, have contributed to the company’s success.

He notes the creation of this chair (endowed for $3 million) comes at a time when Dillard's has demonstrated remarkable resilience in the face of industry-wide challenges, "While many department stores have closed their doors, Dillard's has thrived.” He emphasizes this is largely due to innovative inventory strategies and a focus on stewardship throughout the company. "Rather than chasing short-term stock market gains, Dillard's focuses on creating lasting value for shareholders and associates," Waller notes.

A Family Tree of Leaders

Dillard II’s family connection to the University of Arkansas runs deep. He graduated from Walton College in 1966, following in the footsteps of his father, William Dillard, who graduated in 1935 and went on to found Dillard's, Inc. The elder Dillard was among the first inductees into the Arkansas Business Hall of Fame, alongside other state business visionaries. Dillard II was added in 2016. In 2020, Dillard II further cemented this legacy by endowing the William Dillard Department of Accounting, named in honor of his late father.

Leading With Humility

"What sets Bill apart is his humility and his genuine interest in others," Waller explains. "Despite his incredible success, he's always giving credit to others and asking insightful questions. It's a leadership style that motivates those around him to strive for excellence."

The William Dillard II Leadership Chair will play a crucial role in advancing leadership studies and practices within Walton College. Dillard II has fostered a culture of leadership that extends beyond traditional management roles, emphasizing that everyone has the potential to be a leader in their own right.

"Bill’s approach to leadership is truly inspiring," Waller says. "He knows the importance of developing leaders at every level of the organization, which has been a key factor in Dillard's sustained success." The impact of this endowment reaches far beyond the brick walls of Walton College. By focusing on leadership development at every rank, the chair aims to produce graduates who will go on to positively influence their workplaces and communities.

"This endowment is about more than just business leadership," Waller says. "It's about creating an environment where everyone can thrive, where people lift each other up.” This is exactly what Dillard II wants. "He sees this endowment as an opportunity to advance leadership in all kinds of roles, both for college employees and students," Waller adds. "It's about perpetuating a culture of success and creating happier, more fulfilled individuals in the workplace and beyond."

A Positive Impact

Appointed to the leadership chair in August 2023, Waller is set to carry forward Dillard II’s vision of inspiring and shaping the next generation of business leaders. His transition from dean to this new role marks an exciting new chapter both professionally and personally. When asked about his goals in this new role, Waller responds genuinely, "I want to have a positive impact on everyone I come in contact with. That's what I pray every day. You know, when I get up, can I be a blessing to others today?"

The William Dillard II Leadership Chair serves as a powerful testament to the lasting impact the Dillard’s family has had on individuals, organizations, and communities. This initiative ensures that the principles of strong, ethical leadership championed by Bill Dillard II will continue to shape business education for years to come. An enduring legacy indeed.