Wallace, who has served as a Trustee since 2000, was elected at this board's annual spring meeting. She will serve a three-year term and replaces R. David Hoover '67, who chaired the board for the past three years and remains a Trustee of DePauw.
"It's very exciting, but also very humbling at the same time," said Wallace, who is chair of the board of First Federal Savings and Loan Association of Newark, Ohio. "I am absolutely thrilled to lead DePauw in this way. We have such an opportunity to take this University to new heights."
Wallace served as chair of the committee that led the search for DePauw's 19th president Brian W. Casey. She chairs the board's Buildings and Grounds Committee and serves on the committees which oversee academic affairs and admission and outreach.
"She is deeply committed to DePauw," said Casey. "She loves the institution. She went here, all four of her brothers and sisters went here, her three children went here. I think it's a very good moment for the institution."
Wallace's husband John was her classmate at DePauw.
"I know Sarah is going to push me and the administration very hard," added Casey. "My sense is she's very excited about the direction of the institution and really wants to see it move in a very ambitious way."