What Leadership Looks Like When It’s Recognized by Peers

The discussion wasn’t about résumés.

It was about a harder question: Which classmate makes this place better?

Around a table at the University of Virginia Darden School of Business, a group of students was tasked with selecting the recipient of the Lemuel E. Lewis Bicentennial Award for Global Leadership — a scholarship that covers full tuition and fees for a student’s Second Year, a commitment of nearly $85,000. Their charge wasn’t to measure achievement in the usual ways, but to identify a form of leadership that doesn’t always announce itself.

The award was created by Lemuel E. Lewis (MBA ’72). Lewis has often described arriving at Darden with limited financial means and has said that financial support made his education possible. He went on to build a career in media and finance and later served as chair of the Federal Reserve Bank of Richmond. But when he created this award, he wasn’t aiming to reward conventional markers of success. He wanted to recognize students who strengthen the community — those whose impact is felt in how others grow.

The selection process reflects that philosophy. Rather than being decided by faculty or administrators, the award is determined by a student committee. This year, that group was chaired by Elena Céspedes (Class of 2026). More than 90 students applied; 10 were selected as semifinalists, and four advanced to the final round after interviews.

The discussions were anything but perfunctory.

“People pushed back, and they did it with respect and curiosity,” Céspedes said. “Not to win an argument, but because they cared about getting it right.”

This year’s recipient is Riwaj Shrestha (Class of 2027).

Shrestha arrived at Darden after studying computer engineering and entrepreneurship and working in venture investing and applied research. His early work included helping establish Nepal’s first satellite ground station and contributing to applied machine learning research. But what resonated most with his peers wasn’t his technical background. It was the way he engages with others.

Early in his time at Darden, Shrestha said he wasn’t sure how much of his personal story to bring forward. That changed after conversations with alumni who encouraged him to view his experiences as a source of strength.

“They credited their upbringing as the reason why they got all of these positive attributes like grit [and] perseverance,” Shrestha said.

That reframing changed how he leads. He is now working to build programming that helps classmates navigate the experience of Darden more fully — from building networks and confidence to gaining practical knowledge about professional and financial systems.

For Lewis, that is precisely the kind of impact the award was meant to recognize. He designed it not as a conclusion, but as a beginning. The donor sets the intention. Students choose the recipient. And the recipient is expected to carry the work forward — strengthening the institution by strengthening the people within it.

The question the students wrestled with — Who makes this place better? — is larger than a single award. It reflects what an institution chooses to recognize.

And in this case, the students decided.

A Lasting Impact

Scholarships at Darden exist because alumni and friends choose to invest in future leaders. To learn more about supporting scholarships or creating an endowed award, contact Samantha Hartog, senior associate vice president of advancement, at +1-434-981-4025 or HartogS@darden.virginia.edu.