William R. Fair, a founder and chairman of the board of credit scoring technology firm Fair, Isaac & Co. died Friday at the age of 73 after several months of illness, company officials said.
Mr. Fair had been president of the company from its beginning in 1960 until his retirement in 1991. After that, he continued as chairman of and consultant to the San Rafael, Calif.-based company.
Robert M. Oliver, 64, a Fair, Isaac director since 1986, is to succeed Mr. Fair as chairman. Mr. Oliver was a professor in the college of engineering at the University of California at Berkeley from 1960 until his retirement in 1993.
"All of us associated with Fair, Isaac - employees, stockholders, and clients - are deeply indebted to Bill Fair," said president and chief executive Larry Rosenberger.
"The statistically based decision processes and automated processing technologies which he pioneered, along with his partner, the late Earl Isaac, have profoundly changed the U.S. consumer credit industry.
"His legacy of technical excellence and innovation, perseverance in the face of skepticism, and absolute integrity is the foundation of Fair, Isaac. We will all miss him."