Peter Blundell, one of the wealthiest merchants of Elizabethan England, died in 1601, having made his fortune principally in the cloth industry. His will set aside considerable money and land to establish a school in his home town "to maintain sound learning and true religion". Blundell asked his friend John Popham, Lord Chief Justice of England, to carry out his wishes, and appointed a number of local merchants and gentry as his first trustees (known as feoffees). The position of feoffee is no longer hereditary, but a number of notable local families have held the position for a considerable period: the first ancestor of the current Chairman of the Governors to hold that position was elected more than 250 years ago, and the Heathcoat-Amory family have a long tradition of service on the Governing Body, since Sir John Heathcoat-Amory was appointed in 1865.