Penelope Marie Oslund

Penelope “Penny” Marie Oslund was a woman of incredible warmth, dedication, and kindness. Born on June 12, 1943, in Ardmore, Oklahoma, to the late Margurite and Carl Oslund, Penny grew up in Sheridan, Wyoming.

Penny had a lifelong passion for learning. After graduating from Sheridan High School in 1961, she attended Colorado Women’s College, earned her Bachelor of Science from Iowa State University in 1965, and later received her MBA from the University of North Carolina in 1990.

Her time at UNC eventually led to a successful 20-year career. Before retiring in June of 2011, Penny served as the Executive Director of the MBA for Executives Programs at the UNC Kenan-Flagler Business School. She managed the school’s three Executive MBA Programs, which were highly ranked by Bloomberg, Businessweek, US News, The Wall Street Journal, and Financial Times. As a leader, Penny was defined by her dedication to mentorship. She championed her team's professional growth and created a collaborative culture where everyone could thrive.

During her tenure, she helped to establish the first global immersion electives and launch the OneMBA program. An avid traveler, she loved representing the university at residencies and meetings across Europe, Asia, and Latin America. Her dedication to excellence earned her deep respect and numerous accolades, including the Weatherspoon Staff Award in 1997 and 2005, the Roy W. Holsten Award for Exceptional Service in 2007, and the Executive MBA Alumni Merit Award in 2011.

Penny’s leadership also extended beyond UNC. She was a vital member and Chair of the Executive MBA Council Board of Trustees, where she played a pivotal role in transforming the organization into a truly international entity—including bringing its first annual conference outside the Americas to Barcelona, Spain. She also received the Council’s Bud Fackler Service Award in 2001.

Earlier in her career, Penny held positions as a buyer at The May Department Stores Company and Dayton’s. She also worked as a nutritionist for Omaha Public Schools. In every role she held, she was known for her strong work ethic, dedication to others, and commitment to excellence.

As impressive as her career was, Penny’s true joy was her family and community. She logged countless miles to cheer on her two sons at their soccer and lacrosse games. She also chaired Durham Academy’s annual book fair and served on its Parents’ Council. A long-time member of the Chapel Hill Carrboro Sunrise Rotary Club, she loved giving back to her community, whether volunteering for the North Carolina Symphony in Raleigh or for Music on Main and the Tin Cup Challenge in Driggs, Idaho. Additionally, she was an active member of The Congregation at Duke University Chapel, serving on the finance committee, as treasurer, and also as a member of the Altar Guild.

Penny lived life fully. An extraordinarily talented baker, she loved passing down family recipes to her children and grandchildren and will always be remembered for her legendary Christmas breads and cookies. She was an avid reader, a skilled needlepointer and seamstress, and enjoyed spending time gardening and hiking. Some of her happiest moments were spent traveling, especially during beautiful summers and holidays spent with family and friends in Tetonia, Idaho, and at Bald Head Island, North Carolina.

Following a long and courageous battle with nonspecific interstitial pneumonia (NSIP), an interstitial lung disease, Penny passed away peacefully at home in the presence of loved ones on June 14, 2026. Penny faced her final days with the same strength, grace, and optimism that defined her entire life. She leaves behind a beautiful legacy and is survived by her loving husband, Billy; her brother Pete (Mary Lou); her sons Brent (Catherine) and Brock (Maddie); her stepdaughters Olivia (Brook) and Janet (Scott); and her cherished grandchildren and step-grandchildren, Molly, Hayden, Atticus, Holden, Mackenzie, Harper, and Mason, along with many other extended family members and friends whose lives were touched by her wisdom, kindness, and generosity. 

A service celebrating Penny’s life will be held at Duke University Chapel in Durham, North Carolina, on August 4th, 2026, at 2:00pm Eastern. Visitation with the family will be held before the service. Memorials in her name can be directed to the Interstitial Lung Disease Fund at UNC Health Foundation at give.unc.edu/tribute/oslund.

The family appreciates the love, prayers, and support shown during this very difficult time.