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University of Iowa News Release

June 24, 2005

Palmer Receives Distinguished Alumni Service Award

The UI Alumni Association has honored Tippie College of Business alumni and benefactor Lloyd J. Palmer with its Distinguished Alumni Service Award.

Given annually since 1963, the Distinguished Alumni Awards recognize the outstanding achievements and service of UI alumni and friends. The Alumni Association presented the awards June 11 in the Main Lounge of the Iowa Memorial Union.

The Alumni Service Award honors graduates who have provided commendable service to their nation, their communities, and their UI family.

Palmer is a loyal UI supporter and accomplished businessman who has spent a lifetime giving to others, both in time and resources. This Postville, Iowa, native has made significant contributions to the University of Iowa and to his many other personal and professional communities.

In 1949, Palmer earned a B.S.C. degree in accounting after serving in the U.S. Navy during World War II.  After spending ten years with Ernst & Ernst in Chicago--and earning his CPA--Palmer joined the Nalco Chemical Company in 1959. There, he rose to the rank of chief financial officer in just seven years and subsequently held a number of high-level positions within the company, becoming vice president, executive vice president, chief administrative officer, and ultimately a member of the board of directors.

Though he retired in 1986, the longtime civic contributor has continued to work on behalf of the causes that matter most to him. In 1999, he and his wife established the Lloyd J. and Thelma W. Palmer Faculty Fellowship Fund to support distinguished faculty fellowships in the Tippie College of Business. Since that time, five business faculty members have received Lloyd J. and Thelma W. Palmer Research Fellowships, which have supported teaching and research initiatives and contributed to retaining outstanding faculty in the college. In 2000, the Tippie College recognized Palmer with an Outstanding Accounting Alumnus award.

The Palmers also gave generously to support artistic commissions for the Hancher Millennium Festival in 1999. In addition, they have given to the UI Libraries, Old Capitol Museum, the UI Museum of Art, and to men's and women's athletics. These important gifts helped earn the Palmers membership in the University of Iowa Foundation Presidents Club Silver and the Tippie College Dean's Club, which recognize the university's and college's most generous donors.

In addition to the family's financial contributions to the university, Palmer has given selflessly of his time. He has served on the board of directors of the UI Foundation and has been the chairman of its audit committee. He was a member of the IE2000 National Steering Committee and served on the Chicago Regional Campaign Cabinet. He has served the broader community as a member of the board of trustees for Elmhurst College for 21 years--with five years as chair. For 11 years, he served on the board of the American Red Cross of Greater Chicago.

A member of the University of Iowa Alumni Association's Old Capitol Club, Lloyd Palmer and his wife Thelma had particular reason to celebrate, when in the spring of 2001, two of their granddaughters received B.B.A. degrees from the Tippie College.

STORY SOURCE: University of Iowa News Services, 300 Plaza Centre One, Suite 371, Iowa City, Iowa 52242-2500.

MEDIA CONTACT: George McCrory, 319-384-0012,