Beckman also chose to retire. He and his wife Mabel became increasingly active as philanthropists, with the stated intention of giving away their personal wealth before their deaths. In 1964, Beckman was asked to become chairman of the Caltech Board of Trustees, and accepted the position. He had been a member of the board since 1953. In 1965, he retired as president of Beckman Instruments, and became instead the chairman of its board of directors. On November 23, 1981, he agreed to sell the company, which was then merged with SmithKline to form SmithKline Beckman.