Ford Foundation Appoints Richard R. Verma to Board of Trustees

The Ford Foundation announced the election of Richard R. Verma, former ambassador and United States deputy secretary of state for management and resources, to its board. Verma, who will assume the role of chief administrative officer at Mastercard in May, rejoins the Ford Foundation Board after serving as a trustee from 2022 to 2023.

Verma brings international experience across senior levels of government, diplomacy, law and the private sector. Recently, he served as the United States deputy secretary of state for management and resources. Prior to his appointment, Verma was the general counsel and head of global public policy at Mastercard. He served as the U.S. ambassador to India from 2014 to 2017, where he led one of the largest U.S. diplomatic missions and championed historic progress in bilateral cooperation on defense, trade, and clean energy. Verma held prominent positions as the assistant secretary of State for Legislative Affairs at the US Department of State and as a national security advisor to former US Senate Majority Leader Harry Reid. He was also a member of the Weapons of Mass Destruction and Terrorism Commission and a co-author of the commission’s landmark report, “World at Risk.”  

“I look forward to rejoining the Ford Foundation’s work to advance equity worldwide,” Verma said. “At this critical juncture, it is an honor to work alongside my fellow trustees to challenge inequality and protect the inherent dignity of all people.”

Verma was also a senior fellow at Harvard University’s Belfer Center for Science and International Affairs. He has served on a number of boards and commissions, including the National Endowment for Democracy, Lehigh University, and the T. Rowe Price corporate board. 

Verma is a US Air Force veteran and is the recipient of numerous military and civilian honors and awards. Verma holds multiple degrees, including his Ph.D. from Georgetown University and his J.D. from American University’s Washington College of Law. 

Francisco G. Cigarroa, Chair of the Ford Foundation Board of Trustees, said “It is an honor to welcome Richard R. Verma back to the Ford Foundation Board of Trustees. I look forward to working with Richard because of his extensive U.S. and international expertise, including his exemplary leadership attributes. His thoughtful intellect and wisdom will inform our Board’s work, helping to support the foundation’s mission focused on reducing poverty and injustice, strengthening democratic values, promoting international cooperation, and advancing human achievement.”

Verma has long ties to the Ford Foundation as his father immigrated from India to the United States in 1963 to pursue a masters degree on a Ford Foundation fellowship. 

Darren Walker, president of the Ford Foundation said, “We are fortunate to have Richard’s expertise and unique perspective as a leader who has spent his career tackling the world’s greatest challenges. His insights and passion will be essential to furthering our mission of a more just and equitable world.”

Ford Foundation trustees are elected by the board and serve six-year terms. Trustees set broad policies relating to grantmaking, geographic focus, investments, governance, and professional standards, and they oversee independent audits. The foundation’s trustees come from around the world and have extensive experience in the worlds of higher education, business and finance, technology, law, government, and the nonprofit sector.

The Ford Foundation is an independent organization working to address inequality and build a future grounded in justice. For more than 85 years, it has supported visionaries on the frontlines of social change worldwide, guided by its mission to strengthen democratic values, reduce poverty and injustice, promote international cooperation, and advance human achievement. Today, with an endowment of $16 billion, the foundation has headquarters in New York and 10 regional offices across Africa, Asia, Latin America, and the Middle East.