Smeal College of Business honors Bard with Moore Lifetime Achievement Award

UNIVERSITY PARK, Pa. — The Penn State Smeal College of Business named Richard H. Bard the third recipient of the Robert W. Moore Lifetime Achievement Award at a ceremony held last month at Centre Hills Country Club in State College.

The award, named for longtime Smeal volunteer and philanthropist Bob Moore, was established in 2016. It is presented at the discretion of the dean to an individual who has achieved a high level of success in their career and has demonstrated unwavering support to the college through service and philanthropy, particularly through leadership positions on Smeal boards and committees.

Bard earned a bachelor’s degree in engineering from Penn State in 1969 and began his professional career designing waterways for Los Angeles. By the time he turned 24, Bard’s career had taken an unexpected turn, and he was “buying banks” with (former chairman and CEO) Walter Wriston at Citibank.

In 1990, he founded Bard Capital Group, a private equity investment company, where he has been involved in the acquisition and operation of a diverse group of private and publicly traded businesses and real estate holdings. Bard often takes an active role in operating the companies he invests in, as the chairman or chief executive officer.

“My brother and I came to Penn State in the mid-1960s, and our lives were changed forever,” Bard said. “We grew up with nothing but hardships, and our education gave us the license to go out and do what we wanted to do in the world. You can’t repay that.”

Yet, by volunteering his time and giving back philanthropically to Penn State, Bard has done his best over the years to thank the University for providing the right foundation for his success.

Charles H. Whiteman, John and Karen Arnold Dean of Smeal, said few people have done more than Bard to advance Smeal’s mission.

“Richard has had remarkable success as a businessman and entrepreneur, and we’ve been incredibly lucky to have his passion and advocacy at work for Smeal students, faculty and staff for the past three decades. His contributions to the Board of Visitors have been foundational to our success,” he said.

Bard became a founding member of the Smeal Board of Visitors at the recommendation of former University President Bryce Jordan in 1989 and served as vice chair and chair of the board. He also chaired the board’s innovation subcommittee before moving to honorary board status in 2021.

Pharmaceutical executive Julie McHugh, a 1986 Smeal graduate, served as chair of the board during Bard’s tenure as vice chair.

“I know few people as deeply committed to using their influence and resources to help Smeal succeed than Richard Bard, and Penn State and Smeal are, no doubt, better today because of him,” she said.

The Bards have prioritized philanthropy to Penn State and Smeal, endowing the Bard Family Professorship in Marketing — a position currently held by Min Ding — in 1987. They also supported construction of the Business Building and the Bryce Jordan Center.

The Smeal Lifetime Achievement Award is the latest in a string of accolades from the University. In 2000, Bard received the Alumni Fellow Award, and, in 2015, he was honored as a Distinguished Alumnus by Penn State.

“Richard embodies the characteristics we want our students to develop during their time at Penn State. He is a true leader — visionary, innovative, passionate, creative and resilient. His philanthropy, both to Penn State and outside of the University, demonstrates the value he places on higher education and his commitment to elevating the collegiate experience for tomorrow’s business leaders,” Whiteman said. “It’s an honor to recognize him for his remarkable career and Penn State legacy.”

Bard said that he was humbled to receive the award.

“After 50 years of running companies, it all comes down to people. I’m proud to say I’ve spent my professional life making decisions to benefit people and their families. That extends to Penn State Smeal and its students, faculty and staff as well,” Bard said.

“With ‘Lifetime Achievement,’ there have been many twists, changes and challenges along the way. Being part of Smeal has been a constant for me. It has been a great source of vision, camaraderie and sharing of knowledge, and I am truly honored to receive this recognition from people I respect and appreciate,” he said. “Bob Moore was a special, longtime friend, making this even more meaningful."