Using one of the largest panel datasets on corporate culture, we examine its evolution and origin, distinguishing between the values and norms that prevail within a company and the individual preferences of corporate insiders. We find that corporate culture is remarkably stable: firms with strong (or weak) cultures tend to remain so over the following decade. Most of the variation in corporate culture is explained by firm fixed effects, attributable to a firm's initial culture established around the time of its founding. Drawing on a rich set of founder characteristics, we show that a firm’s initial culture is significantly influenced by its founder’s cultural heritage, the racial diversity of her birthplace, and the business environment at the start of her career. Finally, we provide suggestive evidence that firm-CEO matching on values, as well as the direct influence of culture on CEOs, are potential mechanisms driving the persistence of corporate culture. We conclude that a firm’s initial culture—shaped by its founders and reinforced through employee selection, attrition, and workplace norms—helps explain the enduring nature of corporate culture.