The University of Iowa South African Investment Review Committee was established on May 4, 1985 at the behest of University President James O. Freedman to investigate “the present economic viability of all of (the University’s) stockholdings in United States companies which do business in South Africa” (University of Iowa South African Investments Review Committee, 1985, p. 2). Freedman cited both the turbulence occurring in South Africa at that time—as well as recently passed Iowa General Assembly legislation that both enabled the university to exert greater control over its investments and forced divestiture from certain companies operating in South Africa (e.g., companies that did not adhere to the Sullivan Principles)—as the reasons behind the committee’s founding (University of Iowa South African Investments Review Committee, 1985, p. 2).

The committee’s membership consisted of Casey D. Mahon (Associate Vice President for Finance and University Services and Acting Treasurer, Associate Professor of Law), Michael F. Ashcroft (College of Liberal Arts Junior), Bill Barnes (Professor of Accounting and former Dean of the College of Business Administration), Eleanor Birch (Associate Dean and Associate Professor of Management Sciences in the College of Business Administration), Reverand Ronald D. Osborne (Episcopal Chaplain), and Cornelius W. Thornton (Vice President of First Boston Corporation; University of Iowa South African Investments Review Committee, 1985, title page). They were also assisted by Richard Stevenson (Finance Department Chair) as well as the New York City Comptroller and Treasurer of the State of Connecticut (University of Iowa South African Investments Review Committee, 1985, pp. 3, 5).

The committee met periodically between May 8 and June 3, 1985; researched the university’s financial holdings; and also held a hearing at the Iowa Memorial Union where local and university community members could voice their opinions on “the topics of South Africa, apartheid, and divestiture” (University of Iowa South African Investments Review Committee, 1985, pp. 3-5). The committee ultimately uncovered that the University of Iowa owned stock in 41 companies operating in South Africa totaling more than $2.25 million; it further recommended to President Freedman to divest from all but six companies (University of Iowa South African Investments Review Committee, 1985, p. 2).

The committee presented its final report to President Freedman on June 3, 1985.

Over the course of its existence, the committee was known by several names, including the President's Commission on Divestment, Review Committee on Investment Policy, Review Committee on South African Stockholdings, and Review Committee on University Stockholdings in Companies Which Do Business in South Africa.

Citations

University of Iowa South African Investment Review Committee. (1985 June). Report to the president: review committee on university stockholdings in companies which do business in South Africa [Box 5]. University of Iowa South African Investment Review Committee records, University Archives, The University of Iowa Libraries, Iowa City, Iowa.