Roland Boreham Jr., CEO of Baldor Electric Co. from 1978 to 1981 and chairman from 1981 through 2004, died last week. Boreham, who was 81, died of heart failure after a short illness.

Boreham began his career with Baldor in 1947 working for his father, a grinder representative in Los Angeles. Boreham moved to Fort Smith, Ark., Baldor’s corporate headquarters, in 1961 and became vice president of sales in 1962.

Boreham played a major role in the development of Baldor’s network of district offices and warehouses, still in effect today. He developed Baldor’s value formula, which combines quality and service, and cost and time.

Baldor officials said Boreham will particularly be remembered for his honesty, ethics and fairness. He gave generously to many charities anonymously, and contributed substantially to many educational institutions, including the University of the Ozarks and the University of Arkansas at Fort Smith, where the Boreham Library and the Baldor Technology Center are supported from his endowments.

Boreham also wrote a book about his management philosophy called Three-Legged Stool.