After earning a mechanical engineering degree from Georgia Tech, George obtained his M.B.A. from Harvard. Beginning as president and chief operating officer of Medtronic in 1989 and then as CEO in 1991, he led Medtronic though more than a decade of unprecedented growth, averaging about 35% a year. According to his award nomination, "George took Medtronic from a $1.1 billion to a $60 billion enterprise" before leaving the company in 2002.

George then went on to author several best-selling books including 7 Lessons for Leading in Crisis, Authentic Leadership and True North. He is currently a professor of management practice at the Harvard Business School and has hosted more than 1,600 executives in his "Authentic Leadership Development" course.

The Franklin Institute Awards Program dates back to 1824. It was founded by a group of leading Philadelphians and since 1875 recipients have been selected by the Institute's Committee on Science and the Arts. Through its awards program, The Franklin Institute seeks to provide recognition of excellence in science and technology. Past recipients include Marie and Pierre Curie, Thomas Edison, Albert Einstein, Bill Gates, and Gordon Moore - to name a few.

In 1998, the Institute's awards program was reorganized under the umbrella of the Benjamin Franklin Medals. The Bower Award for Business Leadership and the Bower Award and Prize for Achievement in Science, were made possible by a bequest from Henry Bower, a Philadelphia chemical manufacturer.