He was posthumously inducted into the Eastern Intercollegiate Wrestling Association Hall of Fame.
He served as President of the National Aviation War Production Council.
Later Russell resumed his business career as president, later chairman, of Cerro Corporation.
He was a director of Bell Aviation, Otis Elevator, the Chase Manhattan Bank, Lockheed Inc., Glen L. Martin Co., Worthington Corporation, and National Sulfur Corp.
He was a trustee of Milton Academy and president of the Independent School League.