Professor Richard N. Farmer, professor of international business in Indiana University, passed away February 28, 1987 following an extended illness.He served for many years as chairman of the Indiana University International Business Department. His many contributions to the field of international business are well known.

Professor Farmer was a former American International Business (AIB) president, an AIB Fellow, and one of the Academy's earliest and most active members. Professor Farmer's contribution will be recognized by renaming the AIB dissertation award in his honor; the award will be known as the Richard N. Farmer Dissertation Award.