The John L. Weinberg Center for Corporate Governance at the University of Delaware will become the successor organization to the Investor Responsibility Research Center Institute, continuing and expanding the institute's work in environmental, social and corporate governance research.
"IRRCi is the pre-eminent brand in corporate governance," said Charles M. Elson, director of the Weinberg Center and professor of finance at the Newark, Del.-based university who is also the Edgar S. Woolard Jr. chair in corporate governance, in an interview. "We are honored to be selected to carry on their work."
The Weinberg Center will receive a grant of more than $1 million as part of the transition, said a news release from the institute. The money will help the Weinberg Center enhance its ESG efforts as well as maintain the institute's research library. The Weinberg Center will continue to finance and manage the annual IRRCi investor research award. The transition will be completed by year-end, the news release said. Based in New York, the IRRCi was formed in 2005.
"From day one, our plan was to fund innovative research with our seed money, and then transition the remaining assets to another well-respected organization aligned with our mission," said Linda Scott, the institute's board chairwoman, said in the news release. The Weinberg Center "will take our vision to the next level by further expanding unbiased and objective investor research."
The IRRCi board selected the Weinberg Center from among more than two dozen candidates, Ms. Scott added.