Randalls Inc. Establishes Endowed Chair
To Honor Retiring Chairman Robert Onstead
for immediate release June 26, 1998
HOUSTON - Randalls Food Markets Inc. honored its retiring board
chairman in a unique way Thursday during a special reception: it gave a
significant gift to Abilene Christian University to begin the Robert and
Kay Onstead Chair for Biblical Studies.
Friends and business associates continue to give to this endowed
chair, which has an ultimate goal of more than $2 million. When the goal is
reached, Randalls will have led the establishment of the first-ever
Distinguished Chair at ACU, announced university president Dr. Royce Money.
"Kay and I have never received anything we could be more proud of
than this endowed chair," said Robert (Bob) Onstead at the reception. "We
both love ACU, and the College of Biblical Studies is where our hearts lie.
Nothing could have pleased us more."
Onstead told ACU leaders after the reception that some retirees
receive a gold watch or a similar token upon retirement, but said he had
hoped "down deep" that Randalls would do something for the university
instead. He never shared that wish with anyone, but somehow his family knew.
Bob has served on ACU's Board of Trustees for 20 years, and three
of his children attended the four-year, private university located 180
miles west of Dallas. Two grandchildren currently attend ACU.
"We chose ACU because of the way the university upholds the
Christian standards that are valued so highly by my father and our family,"
said Randall Onstead, Bob and Kay's son and the current president and CEO
of Randalls Food Markets. "By giving my father an endowed chair at ACU, we
found something to honor him that touches all three loves of his life - the
church, his family and Randalls."
Bob Onstead is known throughout Houston for his civic leadership
and his success in business. He was the founder and longtime CEO of
Randalls Food Markets Inc., headquartered in Houston, and has served as
chairman of the board since 1996.
He served as chairman of the Greater Houston Partnership, the
Houston Economic Development Council, the Better Business Bureau of Houston
and the Houston Retail Grocers Association, among others.
Bob and Kay Onstead have been active in ACU activities, including
leadership in the campaign for construction of the university's signature
facility, the Biblical Studies Building. Inside the facility, the beautiful
brides' lounge beneath ACU's Chapel on the Hill is named in honor of Kay.
ACU, recently named one of the "100 Best College Buys" and one of
"America's Best Christian Colleges," enrolls approximately 4,500 students
each year from all 50 states and more than 60 countries.
In addition to the Onsteads' involvement with the Biblical Studies
Building and ACU's Mabee Business Building, they have funded scholarships
for ACU students preparing for careers in business and in various types of
ministry work. In 1992, Bob was named Business Leader of the Year by ACU's
College of Business Administration.
In addition to the Onsteads' personal connections, Randalls has
hired many ACU accounting students to participate in a special internship
program that brings together talented students with one of the best
internship programs in Texas, Money said.
"Bob and Kay have influenced thousands of lives," Money said at the
reception. "They lead by example and people gladly follow."
Bob has been honored with numerous awards, including induction in
1993 to the Texas Business Hall of Fame. He and Kay are charter members of
First Colony Church of Christ in Sugar Land. They have four children and
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- Last update: June 29, 1998