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Fiduciary Trust and Executive Compensation
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A Talk by William B. Chandler III, Chancellor, Delaware Court of Chancery and Distinguished Visiting Scholar, Santa Clara University, April 23, 2009.
Chancellor Chandler’s talk was sponsored by the Markkula Center for Applied Ethics and the Santa Clara University School of Law.
The Honorable William B. Chandler III was appointed Chancellor of the Delaware Court of Chancery in 1997, where he had served as Vice Chancellor since 1989. He also served as Resident Judge of the Delaware Superior Court from 1985 to 1989. He received his law degrees from the University of South Carolina School of Law and the Yale Law School and his undergraduate degree from the University of Delaware.
The Court of Chancery consists of one chancellor and four vice chancellors. The chancellor and vice chancellors are nominated by the Governor and must be confirmed by the Senate for 12-year terms. The Delaware Court of Chancery is a non-jury trial court that serves as Delaware's court of original and exclusive equity jurisdiction, and adjudicates a wide variety of cases involving trusts, real property, guardianships, civil rights, and commercial litigation. The chancellor and vice chancellors must be learned in the law and must be Delaware citizens.