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TEPPER School of Business FA
LL
200
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Calculated Risk: Upstart Employees DriveCorporate Innovation
Industry, Energy, Conservation Merge In ‘Pig Power’ Business Plan �A World’s-Eye ViewINSIDEI
tepperMAGAZINE
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October 10Tepper Alumni Reception with Chester Spatt in San Francisco: Hosted by Citi, Inc. and alum Rimmo Jolly (MSIA ’95), and sponsored by the
San Francisco Alumni Chapter. Dr. Chester S. Spatt, Mellon Bank Professor of
Finance; Director, Center for Financial Markets, and former Chief Economist
and Director, Office of Economic Analysis, U.S. Securities and Exchange
Commission (July 2004-July 2007), will speak to Tepper alumni in financial
services and investment banking. The event will take place at Citi, Inc. in
San Francisco from 5 – 7 p.m.
Tepper Alumni Happy Hour in Pittsburgh: Sponsored by the Pittsburgh
Alumni Chapter. Chris Telmer, Associate Professor of Financial Economics,
will be attending. The event will take place at the Church Brew Works from
6 – 8:30 p.m.
October 18Carnegie Mellon Network New York: Sponsored by the New York City
Alumni Chapter, Carnegie Mellon’s annual Network New York brings those
seeking employment in the Greater Metropolitan New York region together
with alumni and employers during an after-work reception. It represents an
efficient and cost-effective opportunity to meet prospective full-time employees
and interns. The event will take place at the 3 West Club’s Grand Ballroom
from 6 – 8:30 p.m.
October 22Tepper Alumni Wall Street Networking Night and Alumni Panel: Co-sponsored by the Graduate Finance Association, Tepper School of Business
and Credit Suisse. This event is designed as an informal networking opportunity
for Carnegie Mellon alumni professionals currently working in investment
banking, research sales & trading, asset management, private banking, corporate
finance and hedge funds. We will also be including a panel presentation by a
number of Tepper alumni who are managing directors with leading firms in the
investment banking and financial services field. The event will take place at
Credit Suisse, Eleven Madison Avenue, from 6:30 – 9:30 p.m.
October 26 – 28 Reunion 2007: Find more details at www.tepper.cmu.edu/alumni/reunion.
November 8Carnegie Mellon Alumni Panel on Marketing in New York: Sponsored
by the New York Metro Alumni Chapter and co-sponsored by Interbrand.
Moderating the panel will be Gary Singer (BS/H&SS ’76), Chief Strategy Officer
at Interbrand Corp. The event will take place at Interbrand, 130 Fifth Avenue
from 6 – 9 p.m.
November 13Alumni Reception with Jay Apt in Philadelphia: Co-sponsored by the
Carnegie Mellon Philadelphia Alumni Chapter. Dr. Jay Apt, executive director of
the Carnegie Mellon Electricity Industry Center, associate research professor,
and Distinguished Service Professor in Engineering and Public Policy will speak
on global climate change. The event will take place from 6:30 – 9:30 p.m. at a
location to be announced.
For more information or to register for any alumni event,go to www.tepper.cmu.edu/alumni/events.
tepperBusiness Board of Advisors
Francois de Carbonnel (MSIA ’72)Private Investor
David A. Coulter (IM ’71, MSIA ’71)Managing Director and Senior Advisor
Warburg Pincus
Lewis Hay III (MSIA ’82)President, Chairman and CEO
FPL Group, Inc.
T. Jerome Holleran (CIT ’57, MSIA ’69) Chairman
Precision Medical Products, Inc.
Larry E. Jennings, Jr. (BS-MCS ’84; MIA ’87)Senior Managing Director
TouchStone Partners
Gunjan Kedia (MSIA ’94)President, Mellon Analytical Solutions
Mellon Financial Corporation
Jon R. Kinol (MSIA ’92)Managing Director
Head of Rates Trading North America
Deutsche Bank AG New York
James Levy (IM ’65, MSIA ’66)Chairman
Park Lane Ventures
John E. McGrath (MSIA ’61)Senior Vice President
Booz Allen Hamilton Inc.
David T. MorgenthalerFounding Partner
Morgenthaler Ventures
Marc Onetto (MSIA ’75)Senior Vice President – Worldwide Operations
Amazon.com, Inc.
Cindy Padnos (MSIA ’80)Managing Director
Advanced Venture Partners
Frank A. Risch (MSIA ’66)Vice President and Treasurer (retired)
ExxonMobil Corporation
James E. RohrChairman and CEO
The PNC Financial Services Group
Manoj P. Singh (MSIA ’76)Global Managing Partner
DTT Operations
Joel SternChairman and CEO
Stern Stewart & Co.
James R. Swartz (MSIA ’66)Founding Partner
Accel Partners
David A. Tepper (MSIA ’82)President and Founder
Appaloosa Management LP
Kevin D. Willsey (MSIA ’89)Managing Director and Chairman
Global Equity Capital Markets
JPMorgan Securities, Inc.
Pamela Zilly (MSIA ’77)Senior Managing Director
The Blackstone Group
AdministrationKenneth B. Dunn, Ph.D. Dean
Ilker Baybars, Ph.D. Deputy Dean
R. Ravi, Ph.D. Associate Dean, Intellectual Strategy
Steven J. Sharratt Associate Dean, Advancement
Milton L. Cofield, Ph.D. Executive Director, Undergraduate
Business Administration Program
Dennis Epple, Ph.D. Head, Undergraduate Economics Program
Richard C. Green, Ph.D. Chair, Ph.D. Program
John H. Mather, Ph.D. Executive Director, Masters Programs
Tepper Magazine is published for alumni,students, faculty, staff and friends of thebusiness school. © 2007 Carnegie MellonUniversity. All rights reserved.
Please send letters to the editor andaddress changes to:
Deb MagnessOffice of Advancement Tepper School of Business Carnegie Mellon University 5000 Forbes AvenuePittsburgh, PA [email protected]
Co-EditorsNiki Kapsambelis, Deb Magness
Art Director, DesignerCheryl Bender
Project ManagerBarbara Feldman
ProductionKelly Musmanno
ContributorsGeof Becker, Sam Blackburn, SusanBrimo-Cox, Fawn Fitter, Janice French,Janice Jeletic, Niki Kapsambelis, Deb Magness
PhotographyDavid Aschkenas, Tom Gigliotti, HarryGiglio, John Madere, Karen Meyers
IllustrationGary Alphonso, George Schill
MAGAZINE
calendar I FALL ’07
www.tepper.cmu.edu
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TEPPER School of Businesscontents I FALL ’07
Dunn Reappointed DeanOf Tepper School 2
Ventures 3
Globalization And The Pace Of Change: 14Setting The Right Mindsetby Yoshiaki Fujimori (MSIA ’81)
GE Consumer Finance
President and CEO, Asia
Follow The Leader: 20Push your envelope to grow a successful career Ajit Shetty (MSIA ’76)
Johnson & Johnson –
Worldwide Operations
Corporate Officer Vice President
Janssen Pharmaceutica
Chairman
IMHO: 21In My Humble OpinionConvention Is A Career Killerby Arthur Boni, Ph.D.
Director, Donald H. Jones Center
for Entrepreneurship
Associate Teaching Professor
John R. Thorne Chair of Entrepreneurship
Business Wire 26
Network 29
Calculated Risk:Upstart Employees Drive Corporate Innovation 8Business ModelIndustry, Energy, Conservation Merge In ‘Pig Power’ Business Plan 16BrainstormA World’s-Eye View: Globetrotting Students Take Their Business Education Overseas 22
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TEPPER School of Business
Dunn Reappointed DeanOf Tepper School
University committee’s highlights of Dean Dunn’s first five years
� Endowment grew from $83 million (FY 2003) to $131.8 million(April 2007).
� Creation of several key research centers: Center for AnalyticalResearch and Technology to encourage interdisciplinaryresearch; Center for Business Solutions aimed at launchingjoint research projects with industry; and the TeachingInnovation Center to encourage faculty to develop and supportcreative new courses which bring the dynamics of analyzinginformation and making decisions into the classroom.
� Increase in student quality measures for the undergrad andgraduate programs, namely an increase of 45 points over thelast five years of the average GMAT score to 696.
� In the last three years, the Dean and the Tepper School’s development office raised $4.4 million for graduate student aidand fellowships, and more than $13 million in gifts and pledgesfor faculty chairs.
� Cash from giving grew from $4.9 million in (FY 2003) to $12.2 million in (FY 2006).
� Creation of new junior faculty development chairs, includingthe PNC Professorship in Computational Finance; the Frank A.and Helen E. Risch Faculty Development Professorship inBusiness; and the Carnegie Bosch Faculty DevelopmentChair(s) to encourage pathbreaking research contributionsamong young faculty members.
Financial growth and strong research focus citedas impressive gains
Kenneth B. Dunn has embarked on his second five-year
term as dean of the Tepper School of Business, after
being reappointed by Carnegie Mellon University’s Board
of Trustees.
“I am honored to be reappointed dean of the Tepper School – among
the best business schools in the country and the world,” said Dunn. “We
are committed to an exceptional educational and research environment,
and to continuing to recognize and utilize the extraordinary achievements
of our faculty and alumni in advancing the school’s mission.
Provost and senior vice president Mark Kamlet gave a strong
endorsement of Dunn’s first term. “Under Dean Dunn, the Tepper
School has seen a marked increase in the quality of its students, in the
importance placed on the impact of faculty research and in external
relations and fundraising,” Kamlet said.
Among Dunn’s achievements highlighted by university officials,
the $55 million naming gift in 2004 from alumnus David Tepper,
president and founder of Appaloosa Management LP, and his wife,
Marlene, remains a “seminal event” for the school and university,
which “bespeaks the confidence of the donors not only in the school and
the university, but also in Dean Dunn and his vision.”
Dunn was initially appointed the eighth dean of the Tepper School in
July 2002, following a 16-year career managing fixed income portfolios.
His career included serving as managing director of Morgan Stanley
Investment Management and co-director of the U.S. Core Fixed
Income and Mortgage teams. Before that, Dunn taught at Carnegie
Mellon, where he joined the faculty in 1979 as assistant professor of
industrial administration and became a tenured professor of finance
and economics in 1987.
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venturesI NEWS FROM THE TEPPER SCHOOL OF BUSINESS
� Sridhar Tayur, professor of operations management and founder of SmartOps.
Change Research ReceivesAwardDenise M. Rousseau, H.J. Heinz II Professor of Organizational
Behavior and Public Policy, was the recipient of the 2006 Douglas
McGregor Memorial Award, with three co-authors, for their article
“On the Receiving End: Sensemaking, Emotion, and Assessments
of an Organizational Change Initiated by Others.”
The article appeared in volume 42, issue 2, June 2006, of the
Journal of Applied Behavioral Science. Co-authors were Jean M.
Bartunek, Boston College; Jenny W. Rudolph, Boston University;
and Judith A. DePalma, of Slippery Rock University.�
Don A. Moore, Carnegie Bosch Faculty Development Chair,
associate professor of organizational behavior and theory,
was selected for the 2007 Cummings Scholar Award from the
Organizational Behavior Division of the Academy of Management
(AOM). The award, honoring the late Professor Larry Cummings,
recognizes significant scholarly achievement of an early- to
mid-career scholar, no more than seven years after receiving
his or her doctorate.
Moore’s paper “Bayesian Overconfidence,” accepted for
presentation at the AOM Conference in Philadelphia in August,
will be published in the Best Paper Proceedings of the 2007
Academy of Management Meeting.�
Professor Sridhar Tayur was awarded the 2007 Carnegie Science
Center Award for Excellence in Information Technology. The award is
presented by WQED Multimedia in recognition of the development
and commercialization of an information technology-based solution
resulting in significant business impact.
Tayur, the Ford Distinguished Research Chair and Professor of
Operations Management and Manufacturing, also is the founder of
SmartOps® Corporation, which provides enterprise-class inventory
optimization software and supply chain consulting services.
In addition to teaching, Tayur consults with several firms, including
Microsoft, McKinsey & Co., GE and Intel. He has received the
Industrial Management Teaching Award and the George Leland Bach
Teaching Award.�
Professor Honored For Commercializing NewTechnology
Academy Recognizes OBFaculty Research Impact
Denise M. RousseauH.J. Heinz II Professor ofOrganizational Behavior andPublic Policy
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MBA Student Wins GlobalLeadership Award
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venturesI NEWS FROM THE TEPPER SCHOOL OF BUSINESS
Charles L. Evans (MSIA ’85, Ph.D. ’89) was named the new
president of the Federal Reserve Bank of Chicago. Evans became the
bank’s ninth president and CEO, effective September 1, 2007. The
Federal Reserve’s announcement touted Evans’ respected research
on inflation, financial market prices and measuring the effects of
monetary policy on U.S. economic activity, noting that his research
has been published in the Journal of Political Economy, American
Economic Review, Journal of Monetary Economics, Quarterly Journal
of Economics and the Handbook of Macroeconomics.�
Charles Evans NamedPresident Of Chicago Fed
Oliver E. Williamson (MSIA ’62, Ph.D. ’63), Edgar F. Kaiser Professor
Emeritus of Business, Economics and Law at UC Berkeley’s Haas
School of Business, was awarded Distinguished Fellow by the
American Economic Association (AEA). Williamson’s work has
examined how varying organizational structures for markets and
institutions affect economic activity. His style blends social science
with abstract economic theory and has been said to have influenced
topics ranging from investment in Eastern Europe to HRM in the
technology industry.�
Williamson Named AmericanEconomic AssociationDistinguished Fellow
Colin Raney (MBA 2007) received
a prestigious international award
for leadership from the Graduate
Business Forum,® a global network
of business school student
leaders, for creating the ‘Tepper
Prepper’ mentorship program.
Raney received the annual
Student Leadership Award at the
Forum’s annual Graduate Business Conference, a meeting of students
from the world’s top business schools and leading executives of
international companies. The event this year was held at the National
University of Singapore. Singapore President S.R. Nathan personally
presented Raney with the award.
The annual award, now in its 16th year, recognizes leadership
and innovation within the graduate business community. Raney
was selected for his role in developing Tepper Prepper, a mentoring
initiative that pairs second-year MBA students with incoming
students to help improve their interviewing and networking skills.
Raney, immediate past president of the Tepper School’s Graduate
Business Association (GBA), also founded GBA Impact, a program
that encourages GBA members to develop programs that solicit
involvement from fellow students and foster growth in individual
leadership skills.�
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TEPPER School of Business
Robert Dammon, professor of financial economics, received the
Tepper School’s 2006 – 07 MBA Teaching Award, the George Leland
Bach Award.
Marvin Goodfriend, professor of economics, and chairman, the
Gailliot Center for Public Policy, received the Tepper School’s 2006 – 07
B.S. Economics Program Teaching Award.
Burton Hollifield, associate professor of financial economics,
received the Tepper School’s 2006 – 07 B.S. Business Administration
Teaching Award.
Claudia A. Kirkpatrick, associate teaching professor of business
management communication, received a Special Award for
Sustained Teaching Excellence in the Classroom for at least five
years in the Undergraduate Business Administration Program.
Don A. Moore and Paul J. Healy, assistant professor of economics,
were awarded the Weil Prize for 2007. Roman Weil (MSIA ’65, Ph.D.
’66), professor of accounting at the University of Chicago Graduate
School of Business, made a gift to the Tepper School to establish
an annual prize for an untenured faculty member who authors
unpublished papers on problem solving, in contrast to theorem proving.
Denise M. Rousseau received the 2007 Distinguished Scholar
Award from Managerial and Organizational Cognition Division,
Academy of Management; the 2007 Distinguished Scholar Award
from Western Academy of Management; and the Distinguished
Scholar Award from the Managerial and Organizational Cognition
Division of the Academy of Management at their 2007 Annual
Meeting in August.
Anthony P. Stanton, associate teaching professor and director
of graphic media management, was elected to a two-year term as
president of the Technical Association of the Graphic Arts.�
Recent Faculty Awards
Gerald C. Meyers’ affiliation with what is now known as the
Tepper School of Business began when he was a teen and entered
the university on the strength of his athletic prowess.
“In 1946, I was 16 years old, and the returning vets of World War
II were filling most university openings,” recalls Meyers. “But
Carnegie Tech accepted me on a football scholarship.”
The relationship continued through his master’s degree and his
tenure as the Ford Distinguished Professor, and was capped by
the Doctor of Business Practice, which he was awarded in May at
Carnegie Mellon’s 110th commencement ceremonies. Meyers, who
was not expecting the award, said he was “deeply honored.”
As a Tepper professor, Meyers fielded students’ questions
as if they came from a board of directors. Students enjoyed his
directness, his breadth of management experience, his innovative
solutions to conflicts and crises, and his commanding presence.
In business, Meyers also boasts formidable credentials, having
served as chairman and CEO of American Motors Corp. Under
his stewardship, the company purchased Jeep and developed it
into a mass-market competitor, including the creation of the
original Jeep Cherokee SUV. He merged AMC with Renault before
Renault sold AMC to Chrysler.
“The domestic auto industry is currently undergoing a major
transformation and, in going through this process, it will change –
forever – in ways formerly unimaginable,” Meyers said.
Whether in academia or industry, Meyers strives to maintain
momentum in his life. “I’ve been propelled by the intellectual
challenge,” he says. “On to the next thing, and it will be that way
until they carry me out.”
He offered advice for Tepper’s MBA students and alumni:
“Value your school and its reputation. The school is recognized in
the highest circles.”�
Tepper School Honors FormerAMC Exec
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venturesI NEWS FROM THE TEPPER SCHOOL OF BUSINESS
The Carnegie Mellon University Students In Free Enterprise (SIFE)
team won a regional competition in the Philadelphia SIFE USA Regional
Competition last spring, one of 17 SIFE competitions held across the U.S.
During the past year, the Carnegie Mellon SIFE team organized 10
projects in the Pittsburgh community, including Guessthics!, which
teaches the importance of ethics by engaging college students in a trivia
game; an immigrant outreach project to aid relocation assimilation; and, in
partnership with the YWCA of Downtown Pittsburgh, a project called
YW Enterprising Women, which helps women start their own businesses.
SIFE is an international nonprofit organization active on more than
1,400 university campuses in 48 countries. SIFE teams create economic
opportunities in their communities by organizing outreach projects that
focus on market economics, entrepreneurship, personal financial success
skills and business ethics.�
Team From Tepper School WinsRegional SIFE Competition
2007
Tepper School BeginsEntrepreneurship CertificateProgram In Qatar
Senior business administration major Angelica Salame took first
place in the 8th Annual Tepper Undergraduate Business Plan
Competition for AbbyMe, a Web site that allows users to create and
send phone messages over the Internet. Salame’s Meyer Unkovic &
Scott Award for Outstanding Business Plan included $5,000 in cash
and an additional $5,000 in legal services to help establish her company.
The competition is sponsored by the Donald H. Jones Center for
Entrepreneurship; Tepper School of Business; Carnegie Mellon
University; SMC Business Councils; and Meyer, Unkovic & Scott.
The purpose of the competition is to give start-up student companies
a chance to win $10,000 in prize money for marketing and product.
Salame also recently placed second in the University of San
Francisco Business Plan Competition and qualified for the Moot
Corp Competition at the University of Texas at Austin.�
Tepper Undergrads WinBusiness Plan Competition
The Tepper School and Carnegie Mellon University have established
an Executive Entrepreneurship Certificate Program at the university’s
Qatar campus.
Designed in partnership with the Qatar Science & Technology Park
(QSTP), the new entrepreneurship program is a nine-month, part-time
program for managers and executives, where they learn how to build
technology-based businesses within their existing companies or by
starting new enterprises. The inaugural class began in September.
The Tepper School and its Donald H. Jones Center for
Entrepreneurship will deliver the program. Applicants must be located
in Doha in order to attend the classes, which are scheduled outside
business hours. More information and application details can be found
at www.qstp.org.qa.�
Join us for Alumni Reunion Weekend. October 26 – 27, 2007. Special celebrations for classes of 2002, 1997,
1992, 1987, 1982, 1977, 1972, 1967, 1962, 1957 and 1952. For more information, go to www.tepper.cmu.edu/alumni/reunion
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Within the realm of organizational science, Richard Cyert and
James March’s book, A Behavioral Theory of the Firm, was clearly
ahead of its time when this Carnegie Institute of Technology pair first
published it in 1963. Some 44 years later, it continues to wield broad
influence across a variety of fields – so much so that a special 2007
issue of Organization Science is dedicated to Cyert and March’s book
and how it continues to impact current research.
Key concepts and theories raised in the book, including bounded
rationality, problemistic search, the dominant coalition, standard
operating procedures and slack search, as well as the innovative
computational model presented, owe much to the unique environment
found at Carnegie Tech and its Graduate School of Industrial
Administration. The interdisciplinary vision and scientific focus, the
aligning and alliances of professors and students, and connections to
significant companies such as RAND all factored into their research,
papers and, finally, the book. Even March credits the now Tepper
School as “an extraordinary incubator of ideas.” Scholarship is a
collective enterprise, he says, and the support of scholarly institutions
and other scholars is crucial for any such endeavor.
The endurance of the book and the persistent value of its theories
on organizational studies in management, economics, political science
and sociology is evident in the papers selected for the recent, special
publication. As Organization Science editor-in-chief Linda Argote,
the Carnegie Bosch Professor of Organizational Behavior and Theory
at the Tepper School, explains, “Not only did the book advance
theory, it also inspired new approaches for studying organizations.”
“Furthermore,” she adds, “the book has influenced other fields,
such as economics, sociology, political science and public policy,
and continues to generate new ideas and hypotheses today.”�
www.tepper.cmu.edu/alumni/reunion
reunion2007
SAVE THE DATE
JOIN USFOR ALUMNI REUNION WEEKEND October 26 – 27, 2007 • families welcome
Four Decades And Counting:Behavioral Theory of the Firm continuesto stimulate discussion, research
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TEPPER School of Business
continued on page 10
UPSTART EMPLOYEES DRIVE CORPORATE INNOVATION
Calculated
by Niki Kapsambelis
It’s part of the American psyche, a uniquely creative impulse thatmust be fed: Peel away the layersof most any B-school grad, andyou’ll often find that there beatsthe heart of an entrepreneur. Sure, they may have the framework, the polish and the skill set that atop-tier education confers – butdeep within, they still long to tinkerwith THE BIG IDEA.
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continued from page 9
The Intrapreneur’s Ten Commandments
1. Build your team; intrapreneuring is not a solo activity.
2. Share credit widely.
3. Ask for advice before you ask for resources.
4. Underpromise and overdeliver – publicity triggers the corporate immune system.
5. Do any job needed to make your dream work, regardless of your job description.
6. Remember that it is easier to ask for forgiveness than for permission.
7. Keep the best interests of the company and its customers in mind, especially when you have to bend the rules or circumvent the bureaucracy.
8. Come to work each day willing to be fired.
9. Be true to your goals, but be realistic about how to achieve them.
10. Honor and educate your sponsors.
Source: Gifford Pinchot, author, consultant and president of Bainbridge GraduateInstitute. Used with permission.
Such an idea “would be of tremendous strategic impact to Nike,”
explains Bethune. “Nike’s culture is all about taking things to a better
place, not just doing the job. They’re always asking employees to
exercise leadership and take things to a new dimension so it benefits
and improves the organization.”
Innovation is the soul of new business for any company, whether it’s a
start-up or a household name. Without employees who are willing to take
risks, and people who are willing to champion their causes, even the
most stable business can eventually wither or succumb to competition.
That’s why companies such as 3M, which famously implemented
policies encouraging innovation, and Google, which collects employee
ideas on a Billboard-style Top 100 chart, are pushing hard to get their
people to think strategically.
“The world is changing very quickly, and if companies don’t likewise
change, somebody else is going to come into the marketplace,”
says Professor Arthur Boni, director of the Donald H. Jones Center for
Some pursue the traditional route of the entrepreneur, courting investors
and creating a company from scratch. But most other graduates choose a
different path, and instead seek to apply their ideas to more established
industries. Known as “intrapreneurs,” they are the people who look for
new products, processes, categories, usage behaviors and ideas that
will put their theories to the test in the corporate world. And that’s good
news for the companies willing to back them.
Two years after earning his MBA from the Tepper School, Kevin
Bethune (MBA ’05) is now working on a new change initiative aimed at
developing a sustainable business model that will elevate Nike’s ability
to deliver premium product for the consumer. His job title is Process
Innovation Manager, but his function embodies the role of intrapreneur.
If it succeeds, his project will allow more effective commercialization
of concepts dreamed up by the company’s footwear designers. The
project involves changing the team mindset, refining the process and
using technology to further enable the effectiveness of that process.
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TEPPER School of Business
continued on page 12
Entrepreneurship at the Tepper School. “Companies recognize that they
have to have a portfolio of products that range from the mature to those
that are just beginning.”
Increasingly, companies are looking for those products by nurturing
an entrepreneurial spirit among their employees, says Boni, who also is
the John R. Thorne Chair of Entrepreneurship and Associate Teaching
Professor of Entrepreneurship.
“Certainly over the last 10 to 15 years, I’ve heard more corporations
talking about ways they can be innovative and productive, including
the concept of spinning off ideas,” he says. “People are recognizing
that this is a way to change the world, and it’s also a good way to make
wealth – not such a bad combination.”
The Tepper School has designed its curriculum to nurture those
impulses in a way that adheres to sound business principles.
“In our courses, we cover the entire life cycle of a company,” Boni
says. “We look at how you innovate a start-up company, an emerging
company, a mature company or a company on the far end of the
spectrum that needs to redo its whole business model.”
FILLING IN THE BLANKS
From the first year she worked for Merck & Co., Melanie Kittrell
(MSIA ’90) has specialized in intrapreneurial assignments. Shortly after
joining the pharmaceutical giant in 1990, Kittrell was charged with
creating a marketing model that eliminated the need for a sales force
in a region that covered a third of the United States.
“For me, the excitement was that there was very little planning prior
to this assignment,” recalls Kittrell. “Merck was very gracious in giving
me a green field, allowing me to do whatever I wanted.”
Kittrell set up a round-the-clock call center that offered physicians
the opportunity to speak with registered pharmacists about products.
The company also developed audio, visual and printed media to
communicate with customers according to their preferences.
The experiment lasted for about nine months before sales
representatives were brought back in, but the communications center
existed for another four to five years before Merck assumed its functions
“The definition I like is: ‘A dreamerwho does.’” – Gifford Pinchot, author, Intrapreneuring
“Nobody is going to hold your handthroughout the process...my manager gave me an open slate to be creative and dig within thedepths of my skill sets, networkand contacts.” – Kevin Bethune, MBA ’05
Nike, Process Innovation Manager
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“You are ruffling feathers, you’recreating change, and that creates a burden. You’re constantly negotiating with your own organization...you pick your battles, start small if you can and build up.” – Melanie Kittrell, MSIA ’90
Merck & Co., Inc.Executive Director, Strategic Innovation
continued from page 11
internally. Kittrell’s innovation gave the company confidence in using
new methods to reach out to its customers.
After that, Kittrell became one of the company’s go-to people for
intrapreneurial projects – which she calls “blank-piece-of-paper
projects.” “They hand you a blank piece of paper, and you say to
yourself, ‘Maybe the ideas are written in invisible ink,’ ” she says.
But the message, while unspoken, is clear: For some people, and
Kittrell is one of them, the impulse exists that will fill that blank page.
At Nike, Bethune entered the company through the most traditional
of routes – finance – but was quickly steered toward a more unusual
career path.
“Nobody is going to hold your hand throughout the process,” says
Bethune. “My manager gave me an open slate to be creative and dig
within the depths of my skill sets, network and contacts. She doesn’t
constrain me in any way – she says ‘go for it.’ ”
WHITHER THE INTRAPRENEUR?
Nobody quite knows what makes an intrapreneur. Certainly, some
ingredients are crucial: Creativity. Curiosity. A desire to design
something, whether a product or a process or a system, that is new
and different. A personality that is unafraid to go against the grain.
Kittrell says intrapreneurs are the people who, though they may have
backgrounds similar to those of their colleagues, simply stand out as
different to their managers for reasons that aren’t always apparent.
“I call them ‘people with red shoes,’ ” she jokes. “We walk into the
company, and our shoes glow red, and they say, ‘Oh, put her on this
weird project.’ ”
For author and consultant Gifford Pinchot, who is credited by The
Economist with coining the term “intrapreneur” and who wrote the book
on the topic (the best-selling Intrapreneuring) in 1985, the key to such
a person’s personality amounts to one word: confidence.
“The essential ingredient to intrapreneuring is the belief that if your
company is stupid enough to fire you, you’ll find work somewhere else,”
says Pinchot, who is now president of the Bainbridge Graduate Institute,
which focuses on bringing sustainability into the MBA curriculum. “Act
as if the company is going to support you. If it does, that’s wonderful,
and if not, it hastens your departure to go somewhere else.”
Adds Boni, there must also be an element of adventure in an
intrapreneur.
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“It’s really somebody who’s able to integrate right- and left-brain
functions in a creative way, or in a business mode,” he says. “It’s about
risk management within the constraints that you have.”
Often, those constraints come from within. Just as the entrepreneur
must create buy-in from investors, the intrapreneur must develop
support for a new idea from all levels at the corporation, says Boni.
The successful intrapreneur typically has a champion at the company’s
highest level, embracing innovation and helping to build a broadbased
coalition to put the idea into action.
“You are ruffling feathers, you’re creating change, and that creates a
burden. You’re constantly negotiating with your own organization,” says
Kittrell. “You pick your battles, start small if you can and build up.”
CARE AND FEEDING
Glowing red shoes aside, Kittrell agrees with Boni’s belief that
entrepreneurship is a skill set that can, to some extent, be taught. She
believes that, while most people have a tendency toward innovation
within them, putting it into practice requires a certain natural proclivity
to envision something different and develop a tactical realization.
Prior to earning her MBA, Kittrell was a neuroscientist. And even
then, entrepreneurship was part of her makeup.
“I probably didn’t know the word ‘entrepreneurship’ when I was a
scientist,” she says. “But I had to create a totally different way to collect
data for my science. I had to envision how I wanted data collected, and
I had to put together a team that had the expertise to help me achieve
that vision to create the lab that I needed. So I already had to build my
own new world, before I earned my MBA.”
Likewise, Bethune recognized his own interest in entrepreneurship
early. While still at Tepper, he completed a project that looked at ways
Honeywell could compete in the semiconductor industry and reduce
equipment downtime. He keeps that business plan on his desk today,
because it serves as a good model for the thought processes that formed
the groundwork of his education.
According to David McClelland, the late psychology professor from
Harvard who studied human motivation and entrepreneurship, about
10 percent of the population has the entrepreneurial character structure.
“I have often suspected that intrapreneurship is buried inside many
people, but it’s been beaten out of them by school, by their parents –
certainly by the corporation. And it can wake up,” says Pinchot.
It was at the Tepper School that Kittrell and Bethune learned to
appreciate the science and discipline that went into entrepreneurship.
According to Boni, those skills include evaluating an idea to determine
whether it represents a viable opportunity, developing an approach
to the market, learning to understand the market and its peculiar
behaviors, and creating a business model that works.
Students use real-world experiences through internships in which
they work with mentors from the faculty, their network and their
company to hone the skills that foster innovation. Additionally, a
capstone project course incorporates leadership development through
several projects, such as one with a Silicon Valley firm and another with
a multinational corporation to help commercialize a technology platform.
“There’s always risk,” Boni points out. “The level of risk a larger
company can afford – the amount of loss – is bigger than for a start-up
company.”
NATURAL RESOURCES
Kittrell found much greater wiggle-room for risk at Merck than when
she briefly ventured into a biotech company in the mid-1990s. Six
weeks after she arrived with the intent of helping that company set up
commercial operations for its first launched product, her project was
abruptly terminated.
She moved on to help with another project, but the uphill battle
was steeper in a smaller company, and she found herself back at
Merck by 2000.
“For me, I didn’t appreciate the incredible infrastructure and
resources that big pharma had. I sort of took that for granted until I
went into biotech,” Kittrell acknowledges. “One of the things that made
me successful at Merck was that there was so much expertise around me
that I could draw from.”
That falls in line with Pinchot’s belief that some ideas are simply
a better fit for an established business. A plan to build a more
fuel-efficient locomotive makes more sense at General Electric, for
example, than it does for a start-up.
“It’s easier to do a lot of things inside a big company, despite all
these slings and arrows of an outrageous bureaucracy,” he says.�
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Yoshiaki Fujimori, president and chief executiveofficer of GE Consumer Finance, Asia, earned a master’s degree from the Tepper School in 1981 and is a Carnegie Mellon trustee. He delivered this excerpted address to the Class of 2007 undergraduate business students.
It’s a real pleasure for me to be here today, about 20 years since I last
wandered the grounds of Carnegie Mellon...the reason why I know it
wasn’t just yesterday is because Pittsburgh during my days here was
a steel town that had seen its best days. But in just two decades,
Pittsburgh has been completely transformed from a city of the past into
a city that’s embraced and redefined its own future. Pittsburgh today
is modern, visually exciting and technologically driven.
As astounding as Pittsburgh’s transformation has been, it’s just a
microcosm of the transformation the world has experienced. The
extent and impact of the transformation that has taken place through
globalization and technology in the last 20 years is amazing.
So I want to talk about this change, to help you frame the mindset that
you will need to approach the next 20 years, where we will see even
more fundamental change. They will be – without a doubt – the most
critical years of your life, both personally and professionally.
So listen carefully: Twenty years ago, China’s GDP per capita was
$275. Today, China’s GDP per capita is an astonishing $2,000. In
Shanghai, it’s $7,300!
Today, we talk about “BRIC economies”: Brazil, Russia, India and
China. Twenty years ago, they accounted for 18 percent of global GDP.
One study says BRICs will account for as much as 44 percent of global
GDP by 2050. Imagine that!
Twenty years ago, eco-friendly policies were considered anti-business.
Today, corporations are embracing these policies – not because it’s
politically correct, but because it makes business sense. There’s a
growing belief that a healthy economy and a healthy environment go
hand in hand. GE launched the “ecomagination” initiative, with the
belief that “Green is Green.” In other words, the challenges of global
warming and the economics of scarcity will drive markets of the future.
Globalization And The Pace Of Change: Setting The Right Mindset
But emerging markets and environmental solutions are just part of the
bigger story of global change: There are at least five key major global
trends that will shape and define the world in which you live and work.
Here are some others worth noting.
Global liquidity trends: Global growth and strong capital markets
have created new investment opportunities. More than $600 billion is
flowing to oil-exporting countries each year. Private equity funds have
almost $2 trillion of buying power. GE plans to harness liquidity trends
to reshape the company by buying and selling parts of its portfolio to
expand growth, reduce risk and position ourselves for a strong future.
The Internet and demographic trends are also two critical forces with
far-reaching implications for society and business. Firms that invest wisely
in digitization and take advantage of demographic-related dynamics in
healthcare, infrastructure, education and financial services will be best
positioned to take advantage of these massive opportunities.
So, how do these trends affect the professional opportunities that are open
to you? How will you define your legacy, your contribution to the world,
while you face the changes that will take place in the next 20 years? There
are three key mindsets I’d like to share with you.
Mindset #1: Always be humble and hungry. Looking back, I was
always hungry to learn and to win. But I wasn’t always humble. Before
Carnegie Mellon, I was a top student and a star athlete. I graduated at the
top of Japan’s most prestigious university, Tokyo University, and I landed
a job with one of Japan’s top global firms. Before my 30th birthday, I was
working on complex, multibillion dollar deals and was on the fast track
to the top. Was I hungry? Absolutely!
But when I arrived at Carnegie Mellon, I suffered my first crisis of
confidence. There were people in my class I didn’t have a chance of
competing with! I knew I had to work hard to succeed in this highly
competitive environment. It was Carnegie Mellon that taught me humility.
Understanding that there’s always going to be someone who’s smarter,
faster or better is what we at GE call “boundaryless-ness.” If you
accept that there’s always a better way to solve a problem, you seek
that knowledge, learn from it, improve on it and, ultimately, you make
the lesson your own.
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Mindset #2: Don’t set your own limits. The only limits you have
are in your head. This is actually a very powerful mindset, and my former
mentor and friend, Jack Welch, was the one who defined it for me, and it’s
been a powerful guiding force in my life.
In June 1990, I got a call from the CEO of GE Medical Systems.
He asked me to lead the nuclear medicine business. There would be
150 people reporting to me, with engineering and manufacturing in the
U.K., headquarters in the U.S., and sales and distribution worldwide.
It would be my first time running a business outside of my home country.
A global business. A highly technical business. My first impression was,
“Can I really do this?” But you know, this is precisely GE’s concept
of STRETCH! At GE, great careers, and mine is no exception, are
fundamentally defined by stretch assignments.
Stretch is very important because people tend to set their own limits at
the point where they think they can plausibly achieve a goal. But actually,
people have – you have – a much higher potential for achievement than
you realize. And that potential is also higher than what you would set
yourself. When you manage people, or yourself, always stretch yourself.
The last mindset I want to share with you is: Be a change agent.
As a business leader, I appreciate this change agent mindset very much.
People tend to like the status quo, and this can stunt your growth, not just
career growth but also your personal growth.
Every great company, and every great leader, will initiate constant
changes to improve technology, processes, systems, the way they do
business and even the way they think. Being a change agent requires
a unique set of leadership skills – a sense of urgency, a vision for the
future, a strong team to support the vision, the ability to mobilize people
and resources and a mechanism to sustain that change.
Jack Welch ultimately chose Jeff Immelt as his successor, after a
tremendously successful 20-year career leading GE. He had three strong
candidates for the job, all proven GE leaders. So what led him to choose
Jeff? To me, there’s one big reason: Jeff, in Jack’s view, was the best
change agent in the company. He was the most eager to change, not afraid
of the risks of change. And guess what happened? Two days after Jeff was
appointed president and CEO of GE, 9/11 happened and, after that, the fall
of Enron. The world changed forever.
But in the last five years, Jeff has transformed GE into a more 21st
century, globally focused company. I have worked closely with Jeff for the
last five years as a member of his senior management team, and I know
Jeff to be a real change agent.
So in conclusion: Rather than planning your career, think about the
learning path you want for yourself.
What’s in store for the next 20 years? We can only know directionally,
based on the trends and data that exist before us. But one thing’s for
sure: The pace of change in the next 20 years will be even faster and
more fundamentally revolutionizing than the last 20 years. Having
the right mindset will allow you to maximize the opportunities these
changes will throw in your path.
Great organizations are prepared to reward and recognize innovators,
risk takers and people who are constantly changing to achieve a higher
standard of excellence. Congratulations, Class of 2007. Celebrate today,
begin your life tomorrow and remember: Always be humble and hungry;
don’t set your own limits – the only limits you have are in your head;
and, above all, be a change agent.�
YOSHIAKI FUJIMORI, MSIA ’81
Senior Vice President of GEPresident and CEO, GE Money AsiaChairman, General Electric Japan, Ltd.
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ALIX BOWMAN, MBA ’07
Environmental Livestock SolutionsFounder and CEO
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Following the sometimes elusive yet still intriguing concept of trash to treasure, her business plan to transform
pig waste on southern farms from an environmental time bomb to a clean, green source of power has gained
an impressive amount of attention from both utilities and academics. And, despite winning third place in the
2007 Tulane Business Plan Competition, Bowman is still evaluating the future viability of a concept that has
the agricultural and utility industries vying for her attention. As part of her due diligence, Bowman moved
to North Carolina a week after graduating from the Tepper School with partner Kamal Bennoune to pursue
the connections and funding aimed at turning their fledgling company, Environmental Livestock Solutions,
from vision to reality.
As she ventures into uncharted territory, it’s her MBA education that serves as her touchstone, reminding
her that some of the best business minds believe her idea has legs.
“Every time I get overwhelmed, I have a conversation with someone at Tepper who points out the potential
and motivates me to keep working on it,” she says. “Without them, the idea might have died…instead of
being something I might end up working on for the next few years of my life.”
The business model that produces profit bysolving a significant problem is the ultimatedream of the socially conscious entrepreneur.For Alix Bowman, earning an MBA in 2007 was a crucial step on the road to making thatdream happen.
by Fawn Fitter
continued on page 18
BUSINESS PLAN
INDUSTRY, ENERGY, CONSERVATION MERGE IN
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BIRTH OF AN IDEA
Starting a business wasn’t on Bowman’s agenda when she arrived at
Carnegie Mellon two years ago. An environmental educator who had
worked at nature centers, zoos and schools from Louisiana to Oregon,
she wanted to explore methods of making the business world more
green, but she assumed she would either work within an existing
company or pursue consulting. Her experiences during the summer
following her first year at the Tepper School helped change her mind.
Bowman interned at retailer Coldwater Creek, researching an initiative
to convert the company’s headquarters, stores and distribution center
to 100 percent wind power. She became fascinated by the potential of
renewable energy sources, both as a source of profit and as a way to
use her MBA for social and environmental good.
“Cow power” was already successful in the dairy industry, with
programs such as Central Vermont Public Service putting cows’ other
prolific “end-product” to use in a manure-to-energy model. Bowman
wondered why non-dairy farmers weren’t turning their animals’ wastes
into energy as well. She and Bennoune researched the energy potential
of other kinds of animal waste and concluded that pigs were excellent
candidates thanks to the methane content of their manure. To their
surprise, no one was pursuing “pig power” even though the pig
farming industry was confronting serious problems associated with
an over-abundance of waste.
Most pig farms clean up by sluicing waste into big storage lagoons.
Eventually, the lagoons fill up with the slushy sewage, too high in both
minerals and toxins to release into the water system or re-use in the
fields. The problem is especially acute in North Carolina, the nation’s
second-largest swine producer, where, since 1997, pig farmers have been
prohibited from expanding their farms, starting new ones or even
installing new waste lagoons – naturally limiting profit margins and
stifling any opportunity for growth. With nowhere left to put its inevitable
byproducts, one of the state’s largest industries is now declining.
Bowman and Bennoune speculated that no one had yet tried to recycle
pig waste into energy because hauling heavy tanks of liquid effluent to
a processing plant costs more than a farmer can recover in the form of
electricity. They realized, though, that farmers could remove water from
the waste before it leaves the farm through existing technology from
cow-power models, in which solids are stored in roll-off containers to
business modelcontinued from page 17
“It was an intriguing idea tobegin with, and she had agood grasp of the marketand a conclusion that therewas an opportunity. She had the vision, the drive andthe education to make thatvision a reality.”– Tom Emerson
David T. and Lindsay J. Morgenthaler Professor of Entrepreneurship
separate them from the liquid. The load thus lightened, the cost of
transportation is reduced, because farmers can transport more waste
per truck. Then what’s needed is a centrally located plant to process
pig manure into power. Bowman’s new company aims to build that plant
and help farmers prepare their waste to send it there.
“It won’t completely eliminate the problem, but it will significantly
reduce the amount of waste sitting around and allow farmers to use
their lagoons a lot longer,” says Bowman. True to form, she already
has ideas in mind for the byproducts: “You could even use the leftover
waste water to grow green algae to create biodiesel, or maybe process
it into liquid fertilizer.”
TEPPER PAVES THE PATH
Initially, Bowman sought an MBA to expand her career opportunities.
Knowing she could take the degree into any field, she kept her goal of
making the world greener in mind and switched to the Tepper School’s
entrepreneurial track after she became fascinated with renewable energy.
In fact, she says, her classmates offered advice, referred her to potential
contacts and even helped her rehearse her business pitch. “The students
here are so willing to give their own time to encourage each other,” she
says. “I’ve met lots of people I’d like to work with again.”
Bowman credits two classes in particular – Entrepreneurial Thought
and Action, and Entrepreneurial Business Planning, both taught by
Tom Emerson, the David T. and Lindsay J. Morgenthaler Professor of
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Entrepreneurship – with helping her develop her business plan and
investor presentation.
Emerson says he was immediately struck by the background research
Bowman had already done. “It was an intriguing idea to begin with,
and she had a good grasp of the market and a conclusion that there
was an opportunity,” he recalls. “She had the vision, the drive and the
education to make that vision a reality.”
At the same time, Bowman enrolled in a class about the economics
and engineering of electrical power systems, offered jointly with Carnegie
Mellon’s electrical engineering program, to expand her knowledge about
the power industry. Studying pricing, regulations and the general
structure of the industry proved the existence of genuine opportunities
for renewable energy and gave her the impetus to keep working on her
business plan. Just as important, she said, the class gave her the chance
to ask questions of guest speakers who wouldn’t ordinarily make time
to talk to a graduate student.
PUTTING THEORY INTO PRACTICE
As a result, when Bowman and Bennoune took their business plan to
the Tulane competition in April, they impressed the judges with their
grasp of issues in the energy industry. “One of the judges gave us a hard
time with one of the issues we brought up, but another, who’s a venture
capitalist in the industry, said, ‘No, no, they have it right,’ ” she said.
With their prize money in hand, the couple decided to move to North
Carolina to build connections with local utilities such as North Carolina
Green Power and investigate property for a pig-waste processing facility.
Bowman’s business plan projects that if the company begins operations
and books initial revenues in August 2008, it will be profitable by the
end of that year and quickly achieve profit margins of 22 percent.
Classmates have been asking to be called when she’s ready to hire.
Emerson says, “I think the stars are all aligning in her direction.” And
John Mather, executive director of Tepper’s Masters Program, says he
has no doubt Bowman’s business will be a success.
“She’s at the point where she has to execute,” Mather says. “I
understand why she’s hesitant – they’ll need a big up-front investment.
But one of the utilities in North Carolina is actively seeking proposals
for alternative energy programs. In two years, I think we’ll be down there
for a ribbon-cutting.”�
PIG POWER by the numbers� Number of pigs in North Carolina: more than 10 million
� Amount of effluent pigs generate: more than 491 million gallons per year
� What farmers currently spend each year to manage that waste: $60 million
� Annual power potential of the effluent: 850,000 megawatt hours (MWh)
� Selling price of renewable energy: approximately $75 per MWh
� Annual revenue potential: more than $63 million
For its first plant, Environmental Livestock Solutions is targetingfarms with more than 5,000 hogs within eight miles of their proposed site in Duplin County, N.C. Forty-seven farms meetthose criteria, with a total of 460,000 hogs. The company mustsecure the participation of just 15 eligible farms, or one-third ofthe available market, to operate at full capacity.
Basics of the pig-waste-to-power cycle1. Water rinses waste out of barns and into a separation facility.
2. The liquid portion flows off to the existing waste lagoon, while solids are loaded into modular sludge containers.
3. Environmental Livestock Solutions’ trucks transport full sludgecontainers to the central processing facility.
4. The sludge is loaded into tanks where anaerobic bacteriadigest it and give off methane.
5. The methane is piped into a generator connected to the power grid.
6. The generator burns the methane to generate power.
7. The digested remains are spread outside to age, then are packaged as fertilizer.
Alix Bowman, MBA ’07, and partner Kamal Bennoune cradle some key players in their pig-waste-to-power business model.
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follow the leaderI PUSH YOUR ENVELOPE TO GROW A SUCCESSFUL CAREER
called upon to talk publicly, and you don’t have a second chance to
make a first impression. Have a point of view, but know when to listen
and when to speak up. Be intellectually honest and always be able to
back up what you say with facts and logic.
ON LEADERSHIP:
Johnson & Johnson was the first company to have a credo – a value
system – that now extends across our employees, customers and
communities. It is important to establish a set of good values to guide
you as a business leader. Good leadership characteristics include
strategic thinking, intellectual curiosity, teaming and a sense of
urgency. As our company founder, Dr. Paul Janssen, used to say, “The
patients are waiting.” All of these characteristics drive results.
AROUND THE WORLD:
We often get the impression that things are very different in other parts
of the world, but if you look closely, you see a common thread. Be
intellectually curious and keep a prepared mind – always be aware.
In this way, you’ll be open to a continuum of information from a lot of
sources. Aim to be a good observer in order to visualize opportunities.�
AJIT SHETTYMSIA ’76
Janssen Pharmaceutica division of Johnson & Johnson
Managing Director, CEOChairman, Board of Directors
CAREER PATH SINCE B-SCHOOL:
I interned in Belgium with Janssen Pharmaceutica, a Johnson &
Johnson company exclusively focused on mental health medications,
before I attended graduate school at Carnegie Mellon. After I
graduated, I was asked to return to the company, and I have been
with Janssen Pharmaceutica – and Johnson & Johnson – ever since.
Beginning as a financial analyst, I grew my career into numerous
high-level management positions covering a variety of finance,
operations and group management responsibilities. From a
management development perspective, I asked to be relocated
several times and have worked at the company’s Piscataway office
and in Belgium. Today, I head operations of all Johnson & Johnson
and am chairman of Janssen Pharmaceutica.
ADVICE FOR NEW GRADS:
The Management Game at the business school was very useful and has
stayed with me through the years. It fostered the practice of working
together – rather than independent competition – which is very valuable
in today’s business environment. Also, I’d encourage students to
practice public speaking; it helps build self-confidence. You are often
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Convention Is A Career Killer
Let me get this straight: You want a successful career,full of interesting challenges, marked by a steady climbto the top. You want increasing responsibilities andincreasing compensation. Who doesn’t? But how can you
possibly achieve these outcomes in today’s uncertain economy, where
new technology and global turmoil upset even the most carefully
developed strategies, the most thoroughly prepared people? I believe
there is one clear way to navigate future ambiguities effectively. It’s
simple, really. Become a career entrepreneur.
Students often ask, ‘Why should I study entrepreneurship? I’m
probably not going to start a company when I graduate.’ I answer that,
while this may be true, it reflects a limiting view of entrepreneurship.
If you consider for a moment how successful entrepreneurs think, you
might be driven to ask instead, ‘Why not study entrepreneurship?’
Simply put, I believe you need to learn how entrepreneurs think
and act because we live and work in a very competitive, global economy.
Consider this comment by Samuel J. Palmisano, CEO of IBM: “The
way you thrive in this environment is by innovating – innovating in
technologies, innovating in strategies, innovating in business models.”
Not only is Sam right that innovation involves much more than
products, but I would add that innovation also includes a spirit of
reinventing and evolving business models. It’s a way of thinking, of
finding and cultivating new markets to deliver products and services
people don’t yet know they need or want. It’s about rewiring corporate
organizations for creativity and growth. At its core, innovation is the
life-breath of achievement. Look at it this way: Invention transforms
technology, but innovation transforms life.
What we are talking about here is the domain of the entrepreneur.
You will understand, then, if I evangelize for a minute and suggest that
if you want to be successful in your career, you will most certainly devote
time and effort to learning how entrepreneurs think and act. Thinking
like an entrepreneur will help whether you start or go to work in an
early-stage company, acquire a small company, join a mature company
and become a leader of innovation, or innovate in a social context. The
imhoI IN MY HUMBLE OPINION
entrepreneurial process embodies and integrates all aspects of building
and running any enterprise. Fundamentally, the process consists of three
interrelated components: the opportunity, the resources necessary and the
team to execute – all balanced and guided by a leader. Life cycle is but
one dimension. It’s how you approach the problem that matters most.
This approach is what sets the Tepper School, and Tepper graduates, apart
from the crowd.
The strategic processes in a larger corporation are similar to those in
an emerging company. What differs is the set of filters used in the process
of allocating resources. These might include cost structure for profitability,
size thresholds for target markets, growth expectations, the cost of
capital, the timeline for profitability and other factors. Most successful
businesses evolve their strategies, as do most successful people.
To me, the real way of generating wealth is by creating it. I recall a
fascinating talk by Geoffrey Moore, author of Crossing the Chasm, among
several books he’s written about innovation. One of his ideas was that
entrepreneurs must lack the “prudence gene.” True enough, you don’t
want to mistake the power of unplanned discovery. But I also believe
entrepreneurs increase their probability of success by bounding their
risks. They identify and deliver the most critical tasks necessary to prove
their innovations before proceeding aggressively to market. The dot-com
era was an aberration; informed entrepreneurial behavior is the foundation
of the future.
Do you want to make an impact on whatever organization you join?
Do you want to become a leader? A clear path to that success is to learn
to think and act like an entrepreneur. Size doesn’t matter; it is how you
think, act and adapt to the competitive landscape. Study the art and
science of entrepreneurship, and when the corporate recruiter asks, “Why
should I hire you?” answer confidently, “I will innovate wherever I go,
so why not for your organization?”�
ARTHUR BONI, Ph.D.Director, Donald H. Jones Center forEntrepreneurship
Associate Teaching Professor
John R. Thorne Chair of Entrepreneurship
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TEPPER School of Business
Globetrotting students take their businesseducation overseas by Janice Jeletic
No matter what the industry, globalization permeates every segment of today’s businessclimate. Even the student who uses a businessschool degree for social entrepreneurship islikely to spend significant time working in orwith another country, alongside colleagues whohail from nations outside the United States.
-eye view:
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“Studying abroad enables students to see the realistic side of doing business. It’s like learning a language – the language of business. It’s difficult to develop the skill without being in the environment.”– Zhaoyang Gu, Associate Professor of Accounting
MBA MELTING POT
At the graduate level, the international experience begins with the 30
percent of the student body enrolled in Tepper’s MBA program who come
from other countries – bringing a global perspective into the classroom.
Graduate courses also reflect the increasing emphasis of the global
economy. For example, a recently introduced Global Enterprise
Management Track merges operations, organizational behavior, information
systems, strategy and international management, and includes an
expectation for study abroad.
However, the school does not adhere solely to a singular, prescribed
exchange program, according to John Mather, executive director, Masters
Program and Teaching Professor of Marketing. Rather, students
are given the freedom to create opportunities on their own.
“Our students discover and develop programs that meet their interests
and needs,” says Mather.
That philosophy of “structured discovery” inspired Geoffrey Bent, an
MBA FlexTime candidate in the Class of 2008, to coordinate a study trip to
China for 35 classmates in January. Bent, who once lived in Shanghai, has
been instrumental in coordinating three trips to China since 2006 and
served as the group’s interpreter.
The daily itinerary for the three-credit program included morning lectures
at Chinese universities, followed by afternoon sessions with business and
government leaders. Students also had the chance to network with Tepper
School alumni, which Bent hopes will pay dividends after graduation.
Already, some students who made the trip are pursuing internships in China
or considering full-time employment there.
“My goal is to strengthen the alumni network in China so that anyone
visiting the country can find help with work or travel logistics,” Bent says.
“A strong network will help people find better jobs throughout China.”
The challenge for business schools, then, is to prepare students for an
international marketplace, while also providing educational experiences
that are meaningful to the individual student’s career goals. Acting on
the philosophy that study abroad is not a one-size-fits-all proposition,
but one best undertaken with a customized approach, the Tepper
School’s graduate and undergraduate programs offer an array of choices
as varied as the students themselves.
“We have a strong focus on studying abroad because it’s valuable
for personal development and the overall undergraduate experience,”
says Milton Cofield, executive director of BSBA Undergraduate
Business Programs and Associate Teaching Professor of Business
Management. “The options available to our students are very diverse.”
While international study is encouraged for undergraduates, it is a
requirement only for undergrad students who are International
Management majors. However, all students may spend a semester or a
year enrolled in another university anywhere in the world.
“We have initiated partnerships with undergraduate business
programs around the world with the character of academic programs that
will create value for our students,” says Cofield. “The preference by
many international students is for universities with elite status in their
home countries,” Cofield says.
Students also may choose to study in any program provided they are
pursuing degree requirements. The first step is to identify the countries
and programs of interest. Then they choose a potential set of courses
and meet with a department advisor to obtain approval.
Some BSBA students also take advantage of focused opportunities,
such as international case competitions held in Germany, Hong Kong
and Copenhagen.
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CULTURE, COMPANIES AND CLASSROOMS
As a leader of the group, Bent also enjoyed watching classmates react to
new concepts ranging from ethical issues to buying food on the street.
“Because [my classmates] hadn’t been brought up with the same micro and
macro perspectives, it was interesting to see them experience the country
and challenge what they were seeing.”
But the most enriching opportunities were the face-to-face meetings
with company executives, who would not have been accessible to students
traveling on their own. Baohong Sun, Associate Professor of Marketing,
helped to identify the companies the students visited based on two criteria:
those with similarities to U.S. companies and those with managers who had
been educated in the United States. Some of the company contacts were
made through alumni and relationships that students had developed on two
informal trips to China in 2006.
“The students enjoyed the company visits,” says Sun, “which changed
stereotypes of China’s people and economy. They learned a lot about
how classroom knowledge needs to be tailored and quickly connected
what they were hearing to what they had learned at Tepper.”
Lydia Perr (MBA ’08) concurs. “Company managers were candid – on
both their challenges and successes,” said Perr. “By seeing a slice of their
experience, our classroom work was made more real, more relevant.”
TEPPER School of Business
INTERNSHIPS AND IMMERSION
One formal affiliation that exists in the graduate program is its
partnership with the Otto Beisheim School of Management in central
Germany, where graduate business students may take an intensive
four-week course that focuses on Western and Eastern Europe to study
emerging, transitional and competitive economies. The course includes
morning lectures provided in English; afternoon visits to companies,
financial institutions and government organizations; evening sightseeing
and social time to experience and enjoy the local culture; and a day-
trip to Budapest. Other, similar programs are in the planning stages,
possibly focusing on India, South Africa or Latin America.
Overseas internships round out the Tepper School’s study abroad
opportunities, as does Carnegie Mellon’s relationship with the Bosch
Group, a leading German-based multinational corporation. A Tepper
School partner, the Carnegie Bosch Institute’s purpose is to support,
educate and develop globally minded managers.
“We want students to be in a foreign business environment long
enough to be immersed in the culture – to see how business is done
there,” says Mather. “The first ‘awakening’ usually comes with seeing
business through the eyes of another culture.”�
John McClain MBA ’07 Joseph Akpan MBA ’08 Lydia Perr MBA ’08, Christopher O’Leary Erren Lester MBA ’08and Brian Cole MBA ’07
“As a project manager in the U.S., I might manage a team inanother country. The people sitting around me could be fromanywhere. The better I understand the relationships anddiversity, the better I can understand my workspace and thebetter I can do my job and take advantage of creativity andresources out there in the world.” – Geoffrey Bent, MBA FlexTime candidate 2008
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businesswireI MAKING NEWS AROUND THE WORLD
Innovations Report / Professor joins Norges Bank WatchMarvin Goodfriend, Professor of Economics at the Tepper School
of Business, has joined the Norges Bank Watch 2007. The group of
macroeconomists was invited by the Centre for Monetary Economics
at the BI Norwegian School of Management to evaluate monetary
policy in Norway.
U.S. News and World Report / Soft skills important, but the hard stuff is crucialWhile MBA candidates get a strong dose of soft-skills training at the
Tepper School, Dean Kenneth Dunn cautions that analytical skills are
also crucial. Dunn notes that if schools cut back on core subjects such
as accounting, finance and marketing to focus on more qualitative
learning, the United States will be at a competitive disadvantage
because it will have to outsource analysis to the rest of the world.
The Straits Times / “Tepper Prepper” mentoring programwins acclaim for MBA student MBA candidate Colin Raney’s mentoring project, in which second-
year Tepper School students tutor first-years, helped clinch him as
the winner of the Graduate Business Conference’s student leadership
award. Raney, whose program is known as Tepper Prepper, says he
believes in lifting team members up as high as possible so they can
experience success.
Pittsburgh Post-Gazette / Tepper School initiatives reflect growing interest in sustainabilitySustainability is an important area in the MBA curriculum, and the
Tepper School has or is developing several initiatives as a result,
says Art Boni, John R. Thorne Chair of Entrepreneurship, Associate
Teaching Professor of Entrepreneurship, and Director, Donald H. Jones
Center for Entrepreneurship. For example, the school’s McGinnis
Venture Competition added a special prize in sustainable technology
this year, and plans to make it an ongoing part of the competition.
New York Newsday / Consumers who favor full-servicedepartments will pay more for seafoodConsumers who are likely to stay loyal to full-service seafood departments
at supermarkets tend to spend more on their selections, according to
research by Vishal Singh, Assistant Professor of Marketing. Singh also
found that the arrival of a Wal-Mart Supercenter and its self-service
seafood department results in an almost immediate 17 percent sales loss
for nearby grocery stores.
The Economist / Checklist helps students evaluate a business school’s characterThe Tepper School of Business believes that identifying a school’s
character is a factor on par with traditional ranking figures. That’s why,
as part of its “MBA Reality Check” campaign, it has devised a checklist
of questions students should ask when picking a school.
CNBC / Tepper School MBA candidate appears on CNBCArthur Hyder, an MBA candidate 2008 at the Tepper School, appeared
on Fast Money’s “Grade the MBA” feature.
USA Today / Electric rate freezes now trickling down to worker shortagesThe impending shortage in utility workers is fallout from deregulation,
according to Lester Lave, Harry B. and James H. Higgins Professor of
Economics and University Professor, Director of Green Design, and
Co-Director of the Electricity Industry Center. As many states froze
electric rates in the 1990s, utilities cut payrolls to fatten profits and offset
losses from the low-priced sale of power plants, Lave says.
Scientific American / Scientific American spotlights organizational behavior researchA 1995 experiment by a team of researchers, including Linda Argote,
Carnegie Bosch Professor of Organizational Behavior and Theory, and
Director, Center for Organizational Learning and Innovation, demonstrated
how team members benefit from their collective knowledge when they
learn together. The researchers trained college students to assemble
transistor radios either alone or in groups of three, and found that groups
that trained together got better results.
BusinessWeek / Good networking starts from the ground upSummer interns who are looking to network should start by reaching out
to people who can still identify with a student intern, advises Ken Keeley,
Executive Director of the Tepper School’s Career Opportunities Center.
Waiting until later in the summer to talk to higher-ups also increases the
chance that a colleague will put in a good word for the intern, he notes.
Tepper School of Business alumni, faculty, staff andstudents make news around the world. Below is asampling of recent media highlights that include the Tepper community. For more information, pleasevisit www.tepper.cmu.edu/pressclips.
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TEPPER School of Business
The Economist / Lerrick: World Bank should invest in capital marketsThe World Bank’s income is really the return on cost-free capital that
belongs to its shareholders, and not money made from projects in middle-
income countries, says Adam Lerrick, The Friends of Allan H. Meltzer Chair
in Economics; Director of the Gailliot Center for Public Policy. Lerrick says
the bank should invest these funds in capital markets and use the income
on projects in the poorest countries, instead of lending it to governments
that don’t need it.
Wall Street Journal / Wall Street Journal Ranks TepperSchool No. 5The 2007 Wall Street Journal’s rankings of M.B.A. programs ranked
the Tepper School of Business at No. 5 in the U.S. among 19 nationally-
ranked programs. The special report, titled “The New Battle for M.B.A.
Grads,” also ranked the Tepper School as second most improved school
in the country and fourth best for graduating M.B.A.s who are creative
and innovative leaders – two new rankings in this year’s report. Tepper
School graduates also were ranked eighth for having high ethical
standards, and recruiters ranked the school ninth best in the country
for recruiting minority M.B.A. graduates.
Wall Street Journal / Companies should act on problemsidentified by workersIt is good practice for companies to track employee attitudes, according
to Robert Kelley, Adjunct Professor of Organizational Behavior and
Theory. However, such efforts can backfire if companies don’t act on
problems that workers identify, Kelley notes.
Christian Science Monitor / Enforcement of power grid reliability may be tough, says AptHeavy fines levied by the North American Reliability Corporation for
power outages may be difficult to enforce, since the organization is run
in part by the power companies it regulates. Jay Apt, Executive Director,
Electricity Industry Center, Associate Research Professor, and
Distinguished Service Professor in Engineering and Public Policy,
says plans for NERC to enforce a federal mandate for grid reliability
will make for an interesting experiment.
Forbes.com / Dunn reappointed as dean of Tepper SchoolCarnegie Mellon University’s Board of Trustees has appointed
Kenneth B. Dunn to a second five-year term as dean of the Tepper School
of Business. Dunn’s new term begins in July.
Associated Press / Spatt to leave SEC, return to Tepper SchoolAfter serving three years as the chief economist for the Securities and
Exchange Commission, Chester Spatt is returning to the Tepper School,
where he is the Mellon Bank Professor of Finance and Director of the
Center for Financial Markets. While at the SEC, Spatt conducted analyses
of the impact of securities regulations, touching on almost every area of
securities law.
Wall Street Journal / More regulation is not the answer for hedge fundsAlthough Congress is about to propose new rules governing hedge funds,
more regulation is not the answer, according to Allan Meltzer, Allan H.
Meltzer University Professor of Political Economy. Meltzer says it is far
better to change some incentives for excessive risk-taking.
Pittsburgh Post-Gazette / Students roll up sleeves for ethics trainingApproximately 240 first-year students from the Tepper School’s MBA and
MSCF programs got their hands dirty as part of the ethics training during
Orientation Week. The idea behind the program is that business relies on
the community for its success, so it benefits students to improve their
surrounds, says John Hooker, T. Jerome Holleran Professor of Business
Ethics and Social Responsibility, Professor of Operations Research.
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C’mon in, surf’s up.
Introducing The Tepper Web ExperienceIt’s a great time to visit the new Tepper School web site. As a source of B-school news and
knowledge, tepper.cmu.edu now has a new design and new online features that makeit easier than ever to learn, network and stay connected with your professors and classmates.
�
Multimedia:video, podcasts, iTunes U
�
Lifelong Learning: executive speakers, faculty research
�
Online Community:Tepper bloggers, alumni directory
�
News & Information:alumni chapter events, RSS, Tepper in the news
www.tepper.cmu.edu
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TEPPER School of Business
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networkI FALL ’07
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Rosenberg have started an
institutional third party marketing
firm, Ocotillo Capital, LLC.
James Mechtel (BS) has moved to
Brick, N.J., and has started another
business, Powrgroup, which provides
practical education to businesses.
Last year, Yair E. Orgler (MSIA, Ph.D.)
stepped down as chairman of the Tel
Aviv Stock Exchange after serving 10
years in this position, the maximum
allowed by Israel’s Securities Law.
He is presently serving on the boards
of directors of several large Israeli
companies, including Bank Hapoalim
and Israel Chemicals Ltd., and on
the executive committees of several
nonprofit organizations.
1969David Bree (Ph.D.) is emeritus
professor at the School of Computer
Science at Manchester University,
U.K., which recently amalgamated
with the Manchester Institute of
Science and Technology. David was
recently appointed at the Institute for
Scientific Interchange, Turin, Italy, to
work with a European research group
on multi-agent systems, modeling
economic and biological phenomena.
In 2002, he married Wendie Shaffer,
translator of art and historical works
from Dutch to English. If you’ve been
to an Amsterdam museum, you’ve
read her texts.
34see page
32see page 1956
Joel Levinson (BS) continues his work
as an industrial appraiser and has just
had his second book published, Wings
for J.R., which follows Spiral Bound.
He has a photographic essay entitled
“Pittsburgh: Views in the 21st Century.”
Gordon Cohn (BS ’69), ShlomoFinkelman, Rabbi MordechaiFinkelman
Joel Levinson (BS ’56)
41see page
1965The book, The Political Economy
of Poland’s Transition, co-authored
by John Jackson (BS, MSIA),
Jacek Klich and Krystyna Poznanska,
received the Minister’s Award from
the Polish Ministry of Science and
Higher Education. John is the M.
Kent Jennings Collegiate Professor
of Political Science at the University
of Michigan.
1966James Yanni (MSIA) has retired from
Yanni & Company Investment Advisors.
He is in the process of setting up a
family foundation devoted to charitable
activities.
196740-year Class ReunionOct. 26 – 27, 2007
Having spent the last 30 years in
institutional investment management,
Elliott Gartner (MSIA) and Seth
Gordon Cohn (BS) is a professor of
accounting at Touro College in New
York and has published two new
articles on the Jewish perspective on
the requirement to pay taxes.
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2007
KEYTepper School Degree and Program Codes
BSIM Bachelor of Science in IndustrialManagement
IWM International Wealth Management
MBA Master of Business Administration
MSCF Master of Science in ComputationalFinance
MSEC Master of Science in ElectronicCommerce
MSIA Master of Science IndustrialAdministration
MSQE Master of Science in QuantitativeEconomics
PFE Program for Executives (ExecutiveEducation)
Ph.D. Doctor of Philosophy
Carnegie Mellon College Codes
CIT Carnegie Institute of Technology
CS Computer Science
HSS Humanities and Social Sciences
HNZ H. John Heinz III School of PublicPolicy & Management
MCS Mellon College of Science
network I U P DAT E S, E V E N T S, T E P P E R K N OT S & T E P P E R T OT S
1974Peter Saretsky (BS, MSIA) recently
became CFO of Achieve3000, a six-
year-old rapidly growing company that
provides web-based educational
content and training to children, adults
and teachers to improve reading and
writing skills. Achieve3000 sells directly
to school districts and currently has
more than 700 customers in 37 states
and more than half a million users of
their products. They are building a
strong company and helping kids at the
same time. A great combination!
After nine years as partner with the
Boston Consulting Group and more
than 32 years working for large
consulting firms, Stuart Scantlebury
(MSIA) has retired. He is now a senior
advisor to BCG, a member of the
President’s Advisory Committee at
Berklee College of Music and taking on
select consulting assignments.
30
1970Rawley Thomas (MSIA) became vice
president of practitioner services of the
Financial Management Association
(FMA), chairman of the practitioner
research committee and chairman of
the CFA Society of the Practitioner
Demand Driven Academic Research
Initiative (PDDARI) Task Force. Its
mission is to bridge the gap between
Practitioner Professional Association
needs for academic research and
academic supply from FMA’s members.
He is president of LifeCycle Returns,
working in advanced automated DCF
valuations and risk measurement
with Stable Paretian Distributions for
portfolio construction.
1971Doug Linton (MSIA) was elected to
the board of directors of Bradley
Pharmaceuticals in October 2006 and
will be moving to Charlotte, N.C.,
in January 2008. He is a self-employed
consultant in pharmaceutical
distribution in association with
ValueCentric LLC.
F. Doug Tuggle (MSIA ’67, Ph.D.) is
a professor at the George L. Argyros
School of Business and Economics,
Chapman University, and has joined
Insight Consulting Partners, LLC on
a part-time basis. Doug has also been
elected to the board of advisors of the
University of Creative Leadership of
Entrepreneurship in Breda, Holland.
After retiring from IBM Japan, Ltd., in
2001, Yoshihiko Mikami (MSIA) moved
from Tokyo, Japan to Dalian, China,
working for Dalian Software Park Co.,
Ltd., four days a week. He now invites
the world’s largest companies, such
as IBM, HP and Sony, to come to China
to do ITO (software development
outsourcing) and/or BPO (business
process outsourcing). Last year, Yoshi
opened a coffee shop in Dalian,
starting his own business for the first
time since graduating.
197235-year Class ReunionOct. 26 – 27, 2007
George Brown (BS ’69, MSIA ’69,
Ph.D.) relocated to Rhode Island from
Florida. He continues in the position
of CEO of Blue Canyon Partners, Inc.
and recently published a paper titled
“Business-to-Business Economics”
that provides a conceptual basis for
pricing and value capture in
supplier–customer relationships.
Besides running his private equity
business, Eduard M. Brunner (MSIA)
is also the president of the ETH Alumni
Association, which is the association
of the graduates of the Swiss Federal
Institute of Technology in Zurich,
Switzerland.
Since September 2006, Yuzo Fujioka
(MSIA) has been a lecturer at the
Graduate Institute for Entrepreneurial
Studies, Niigata, Japan. The graduate
school was founded in 2006 as a
business school with some help by
Babson College in Massachusetts.
Jeff LaRochelle (BS/MCS ’72, MSIA)
has had work responsibilities for the
past twelve years that have involved
almost 100% travel to locations where
client engagements need the detail-
oriented support and assistance that
his experience at the business school
helped to sharpen. The past three
years have been spent in support of an
engagement with the Navy and Marine
Corps from offices in the Washington
D.C. area. Jeff’s son, Jarrett, holds a
BS from Tepper, Class of 2000.
Stuart Scantlebury (MSIA ’74)
Yoshihiko Mikami (MSIA ’71) and his family, Tomoko, Ayako and Haruko
Join us for AlumniReunion Weekend.
October 26 – 27, 2007.
Special celebrations for
classes of 2002, 1997, 1992,
1987, 1982, 1977, 1972, 1967,
1962, 1957 and 1952. For
more information, go to:
www.tepper.cmu.edu/
alumni/reunion1975
Marc Onetto (MSIA) has moved to
Seattle and is senior vice president for
Amazon.com.
1976Manuel Amaya (MSIA) was selected
by Avery Dennison to lead their office
product North America (OPNA)
outsourced business. Manuel’s new
position of senior manager, purchased
finished goods OPNA, combines into
one department a business that had
been managed by three different
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D’Lane Wisner (MSIA) formed his own
consulting firm, in 2003, that promotes
beneficial and safe uses of polymers,
especially in green building. D’Lane
and Ann have recently re-located their
home and the business to Raleigh, N.C.
197730-year Class ReunionOct. 26–27, 2007
Ted Milkovich (BS) accepted a new
role within Novell, Inc. and is now
director, Americas Global Strategic
Partners (IBM, HP and DELL). During
his 18 years at Novell, he has held a
number of positions, including director
of Linux Sales, Southeast Area; director
of Partner Sales, Southeast Area;
director of Sales, U.S. Federal; and
director of Sales, mid-Atlantic district.
J.B. West (BS) is the CTO of his
company, LuminTerra, LLC, with four
other colleagues. They are in the third
successful year of “downsized” work,
with a good measure of time for other
pursuits such as restoring a 1938 log
house on the Whidbey Island coast.
1979John Ball (MSIA) is the co-founder of
a professional services firm, XRoads
Solutions Group, which services
financially distressed firms.
business unit managers in the past.
His home continues to be Southern
California, where he has coached his
Foothill Storm Girls club soccer team
to second-place finishes two years in a
row. Manuel and Patti celebrated 30
years of marriage this past year, and
they both are excited about attending
next year’s graduation for both of
their sons, Kevin and David, as they
receive their medical and law degrees,
respectively.
It has been a wild ride for Rita Resick
(MSIA) since graduation. Rita rose to
CFO of Medrad, a manufacturer of
medical imaging equipment. She left to
run her own business in radio broad-
casting, then sold it and retired to their
farm, Laurel Vista Farm, to grow green
beans, sweet onions and potatoes for
the Pittsburgh region’s growing
demand for local food. Together with
her husband, Rick Stafford (BS/MCS
’68, MS/HNZ ’72), she is also doing
consulting work in rural economic
development to integrate produce
growers and organize their connections
to formal markets like wholesalers,
food service/restaurants and grocery
stores.
Upon the completion of his master’s
degree, Tadamichi Tomita (MSIA) was
sent by Mitsubishi Corp to Germany to
take responsibility for Mitsubishi’s
automobile business over five years.
He attended the executive seminar of
INSEAD in France in 1985 and, in 1986,
joined Daimler Benz in Japan as senior
vice president. After that, in 1995, he
switched his job from marketing to
finance. During that time, he attended
the executive management seminar at
Stanford University. In 2007, Tad retired
from management and became the
senior advisor of DaimlerChrysler
Financial Services. Tad and Kyo have
been married for over 39 years and
have three children, Hirono, Naomichi
and Tadateru, and two grandchildren,
Yuu, 9, and Shogo, 1. Tad and Kyo had a
great time seeing old friends at their
reunion in October 2006.
After 27 years with Ford, Paul Meisel
(MSIA) cut the umbilical cord and
recently started as controller/CFO for
Scott Process Systems, a custom pipe
fabricator serving the energy industry.
John Ridge (BS) is the contact center
director for Home Properties. He and
his wife, Marjorie, have a 24-year-old
son, Austin, who is in the Marine
Reserves and is graduating from
SUNY Brockport in May. In addition to
spending time with his family, John is
an avid hiker.
1980Jay Aronson (BS/CIT ’75, MS/CIT ’76,
MSIA, ’78, Ph.D.) is professor of MIS at
the University of Georgia (UGA) and
has been there since 1987. In the
summer of 2006, he worked in Costa
Rica on a strategic plan for a UGA
facility. He travels regularly to Europe,
Central America and South America
to teach and work. In addition, he has
been performing improvisational
comedy in the Athens, Ga., area for
about two years as part of a group
called MindTeazers. Jay, his wife,
Sharon, and daughter Stephanie live in
Athens. Their other daughter, Marla,
graduated from Georgia Tech in the
summer of 2006 and works in Atlanta,
and their son, Michael, is a second-
year chemical engineering student at
Georgia Tech.
Dan Skantar (BS) has volunteered as a
board member for Management Game,
a required course for seniors in the
business school. This was his first
connection to current Carnegie Mellon
students in more than 25 years. Dan
enjoyed seeing all the changes to
campus such as the spectacular
University Center, which is quite a
change from the Skibo of his era. He
was very impressed with the student
team members, Vlad Loktev, Joy Ho,
Dennisse Navas and Lauren Hoffman,
who are exceptionally bright and
made him proud to be an alumnus. He
found this to be a very rewarding way
to give back to the school and hopes
to be invited back next year.
1981George Walsh (BS/CIT ’77, MSIA) and
his wife, Melanie, recently celebrated
their 25th wedding anniversary. They
live in Wilmington, Del., with their two
daughters, Laura and Nicole. George is
an R&D project manager at Agilent
Technologies, responsible for chemical
detectors and robotics.
198225-year Class ReunionOct. 26 – 27, 2007
Thornton May (MSIA) recently
completed a trip to Delhi where he had
lunch with the finance minister, P.
Chidambaram; dinner with the former
president of Pakistan, Benazir Bhutto;
breakfast with Vijay Amritraj; and in
the afternoon met with the lumerati
of Bollywood including Mira Nair, the
director of Namesake.
Daniel Nichols (BS) is the PMO
director of applications development
for the City of New York’s department
of finance.
1983Jim Dean (MSIA ’80, Ph.D.) has been
named senior associate dean for
academic affairs at the University
of North Carolina at Chapel Hill,
Kenan-Flagler Business School.
1984Robert Byrne (MSIA) was named a
2007 Provider Pro to Know by Supply &
Demand Chain Executive magazine.
Julie Glover (MSIA) is in her 23rd year
with Verizon. Her husband, Mark
Satinsky (MSIA ’84), was an American
Airlines Road Warrior finalist this
January. He is CEO of Agile Mesh, a
start-up selling rapidly deployable
video surveillance equipment to
government and police departments.
Prior to starting Agile Mesh, Mark,
along with Eric Fleischman (MSIA ’84),
created Valchemy, a company selling
merger and acquisition software.
Family of Tadamichi Tomita (MSIA ’76),granddaughter Yuu, Kyo Tomita, daughterHirono, son Naomichi, grandson Shogo,daughters-in-law Motoko and Kayo, andson Tadateru
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198720-year Class ReunionOct. 26 – 27, 2007
Mark Nichols (MSIA), having left IBM,
is now the business unit controller for
IDT in San Jose, Calif.
Scott Good (MSIA), president of New
Mission Consulting, is working in the
People’s Republic of China on an
interesting project involving religious
freedom expansion. He and his son
Kai traveled to Beijing, where he ran
the Great Wall Marathon, albeit very,
very slowly.
in Paris and moved to London to start
European Venture Partners (EVP),
Europe’s first dedicated venture debt
provider. They successfully launched
their first fund, EVP I, before the VC
markets crashed. EVP now has offices
in London, Tel Aviv and Stockholm and
has committed over $420 million while
managing third-party institutional
money from a dozen different financial
sponsors, and has expanded funds EVP
II and III. In late April, they will change
their name from European Venture
Partners to Kreos Capital to coincide
with the addition of a new partner, a
new COO and an expanded product
offering.
Ross, his wife, Suzanne, and 10-year-
old daughter, Alexandra, live in
Mallorca, enjoying a bit of the island
sun and sea.
1989Thomas Cucuzza (MSIA) recently
produced an original film with his
brother Robert, who wrote and
directed the film. The Armed Boy was
premiered in Detroit, Mich., in March
2007 as part of a multi-media live
concert, “The Armed Man: A Concert
for Peace.”
Douglas Jack (BS) has taken a new
job as senior OD consultant with
Legg Mason, the fifth-largest asset
management firm. For this Baltimore-
based firm, he will be building talent
management initiatives around senior
leader selection and development, and
succession management processes in
international offices and in New York
City and Stamford, Conn.
Albert Johnson (BS ’83, MSIA) is on
the board of directors and is chairman
of the finance committee for the
Industrial Research Institute, and he’s
also on the board of the University-
Industry Demonstration Project at the
National Academies.
Dave Sikora (BS) was promoted to
senior director of operations of the
transportation management systems
division of Orbital Sciences
Corporation. Dave and his wife, Valerie
(BS/H&SS ’88), moved from Spring
Hill, Fla., back to the Columbia, Md.,
area this summer.
Ross Ahlgren(MSIA ’88)
Scott Good (MSIA ’87)
Dave (BS ’89) and Valerie (BS/H&SS ’88) Sikora
1985Sumru G. Altug (MSIA ’82, Ph.D.)
is a professor of economics at Koç
University in Istanbul, Turkey, and a
research fellow at the Centre for
Economic Policy research in London.
She has published papers in the areas
of business cycles, intertemporal
models of consumption and labor
supply, investment, productivity and
growth, and banking and financial
market phenomena.
Thomas Nyiro (MSIA) is still with
Deutsche Bank in Risk Management,
now in London as global head of
exposure management.
1986Lauth, one of the nations’s leading
development and contracting
companies, announced the addition
of Anthony Amendola (BS/H&SS ’84,
MSIA) as vice president of development
operations. Before joining Lauth, he
served as vice president of development
for Concord Estridge, where he
developed projects within five
geographic markets in the Western
United States and was the linchpin
of their public–private partnership
delivery mechanism.
Twenty years after his father’s
graduation, Hemant Chordia’s (MSIA)
son, Atishe Chordia, has enrolled at
Carnegie Mellon as an undergraduate.
Ginger Halstrom (MSIA) recently
received the President’s Volunteer
Award for the more than 1,000 hours
she has committed to Girl Scouts.
Scott Minor (BS/CIT ’78, PFE) is the
CEO of CyberUtility, LLC in Cleveland.
Owner and CEO Paul Posner (MSIA)
reports that Pocket Communications
recently signed up its 100,000th
customer. Pocket has 500 sales
locations around the San Antonio area.
David Vurdelja (BS), continuing
his nine-year career in the telecommu-
nications industry, is now a business
development manager in the corporate
development group at Sprint. Projects
are centered on early-stage evaluation
and development of new products
and partnerships in broadband
product lines, including their new
fourth-generation wireless broadband
product. In other community involve-
ment, he is now serving as vice
president in the Washington, D.C.
Carnegie Mellon alumni chapter.
1988After graduation, Ross Ahlgren
(MSIA) joined American Airlines for
almost two years. He then moved to
American International Group (AIG) in
New York to work with Jeff Adams
(MSIA ’88). After more than eight years
with AIG, the last five being in Paris,
Ross left AIG Europe in 1998 as the
COO of the European operations based
Heather Burns (BS) is a partner with
the law firm of Upton & Hatfield, LLP
in Concord, N.H., where she practices
employment law and medical
malpractice law. Heather is currently
the president of the New Hampshire
Trial Lawyers Association. She lives
in Concord with her husband, David
Burns, their two sons, Thomas, 8, and
Matthew, 4, and their new golden
retriever, Gryffindor.
Toyoaki Ishikawa (MSIA) is a
managing director at BearingPoint Co.,
Ltd. and is responsible for the financial
services groups of both Japan and
Asia Pacific.
After 17 years as an investment
banker, Lee Shepard (BS/MCS ’85,
MSIA) decided to completely
change careers and is now practicing
corporate law in California.
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Kevin Stoll (MSIA) was recently
promoted to BU president for key
accounts and distribution of Astec
Power, a division of Emerson. Kevin,
his wife, Edith, and Erica, their
8-year-old daughter, are living in
Orange County in Southern California.
1990MSA, the global leader in sophisticated
safety products, announced the
election by the MSA Board of Directors
of William Lambert (MSIA) to the
newly created position of president and
chief operating officer of the company.
He is responsible for MSA North
America, MSA Europe and MSA
International. William had served as
president of MSA North America since
January 2003.
Dave Trapani (MSIA) recently joined
AstraZeneca Pharmaceuticals as
director of asset strategy and
capabilities after 16 years of working at
Capgemini. Dave and his wife, Jocelyn,
just celebrated the first birthday of
their son, Garrett. They live just outside
of West Chester, Pa., and invite
any alumni, especially class of 1990,
to stop by.
1991Sujit Bhattacharya (BS ’91, MSIA) has
a new role in TXU as strategic sourcing
principal consultant, in which he
focuses on transactions that range
from five-figure to nine-figure deals.
Douglas Donehoo (BS) is a relationship
manager with First Republic Bank in
Los Angeles. Additionally, Doug is one
of two managing members of a new
restaurant opening in West Hollywood.
Marie Colantoni Pechet (BS/MCS ’84,
MSIA) is enjoying semi-retirement
from business and is spending most of
her time with her two sons. Marie
recently joined Gina Dokko (MSIA ’91)
and other friends for a weekend at the
Kripalu Center for Yoga and Health in
western Massachusetts. In addition to
practicing yoga and generally
unwinding, they also took a knitting
course with Karen Allen, the actress
from Raiders of the Lost Ark. The
class was a blast, and Gina, as usual,
received accolades for her work in
the class.
For the past nine years, Adam Walden
(BS) has been the president of Gen Art,
a national arts and entertainment
organization dedicated to showcasing
emerging talent in film, fashion, art and
music. Gen Art produces more than
120 events annually through its head-
quarters in New York and offices in
Los Angeles, Miami, San Francisco and
Chicago. Adam frequently sees Peter
Stern (BS/CIT ’89), Susan Abdalla
(BS ’94), Greg Bradshaw (BA/CFA ’92),
Christy Moore (BS/H&SS ’94), Robert
Bethge (BS ’90), Andrew Milmoe
(BFA/CFA ’91), Colin Brice (BA/CFA
’93) and Ella Leers (BS/MCS ’91).
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199215-year Class ReunionOct. 26 – 27, 2007
Francisco D’Souza (MSIA), president
and CEO of Cognizant Technology
Solutions, and Rajeev Mehta (MSIA
’92), chief operating officer, global
client services, Cognizant Technology
Solutions, together with other mem-
bers of the Cognizant and NASDAQ
leadership team made history by
recently being the first American
company to open the NASDAQ
remotely from Chennai, India.
Christopher Carfi (MSIA), principal
at Cerado, Inc., reports that their new
Haystack™ networking service for
businesses and organizations is
growing by leaps and bounds. He
recently facilitated a case study
session at SuperNova in San Francisco
and was in New York at the Corante
Innovative Marketing Conference,
and Cerado was selected to present
at last month’s TechDirt Greenhouse,
where they posed the question,
“Is the enterprise ready for social
networking?”
In October 2006, Louis DiCriscio
(MSIA) took the position of senior vice
president and CFO of the Corcoran
Group, the largest residential real
estate company in New York City
with offices also in the Hamptons and
Palm Beach.
At the end of 2006, Lloyd Fletcher
(MSIA) retired as the head of IT at the
Institute of Physics Publishing. Now,
in addition to some consulting
projects, he’s taking time out to
work on more creative, volunteer and
“home” projects.
Frederick Perreand (MSIA) was
promoted to vice president,
procurement for Emerson Process
Management, St. Louis.
1993Deepak Ahuja (MSIA) has recently
returned to the states after a four-year
stay in Johannesburg, South Africa. It
was a fantastic experience learning
about African history and culture,
exploring the beautiful landscape and
visiting the game parks. Working as
the CFO of Ford Southern Africa
provided him with a good perspective
the dynamic growth happening in
developing countries these days.
Larry Bortner (MSIA) has accepted
the position of director of business
intelligence at TheLadders.com. On
February 13, Larry, his wife, Carolyn,
and 2-year-old daughter, Jennifer,
welcomed their newest family member,
Lauren Sophia Bortner.
Eric Bradley (BS) is counsel for ECHO
Real Estate Services Company in
Pittsburgh. He is also the president of
ECHO Settlement Services, LLC and
has been named a Pennsylvania Super
Lawyers – Rising Star in both 2005
and 2006. Eric, his wife, Jill, and their
2-year-old daughter, Paulina, live in
Pittsburgh.
Sujit Bhattacharya (BS ’91, MSIA ’95), his wife, Richa, and daughters Sarina, 4, and Sonia, 4
Rajeev Mehta (MSIA ’92), Cognizant COO, Global Client Services; Gordon Coburn,Cognizant Chief Financial and Operating Officer; Hon. David T. Hopper, U.S. ConsulGeneral in Chennai, India; Francisco D’Souza (MSIA ’92), Cognizant President & CEO;Charlotte Croswell, President of NASDAQ International; Lakshmi Narayanan, CognizantVice Chairman; and Chandra Sekaran, Cognizant President, Global Delivery
Paulina Eve, daughter of Eric Bradley (BS ’93)
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met with Chris Abouchar (MSIA ’94)
when he visited them last spring
before his family’s move to Arizona.
Ryan Knutson (MSIA) has been
promoted to controller for purchasing
and supplier quality at PACCAR, Inc. in
Bellevue, Wash. Previously, Ryan was
the director of engineering accounting
for PACCAR’s Peterbilt Division in
Denton, Texas.
In April 2006, Irene, Maya, 4, Radha, 1,
and Byas Nambisan (MSIA) moved to
Bangalore, India on a 2- to 3-year
assignment with Intel. Byas is director
and CFO of Intel India, while Irene is
with Intel South Asia sales and
marketing. Bangalore is where he
grew up, so it is a sort of homecoming,
although it’s been 16 years since he
left and a lot has changed.
Sharon Bluestein (MSIA) married
Jonathan Sadinoff on May 28, 2006, at
the Omni William Penn in Pittsburgh,
Pa. The couple now resides in
Manhattan. Sharon continues her
12-year career with Ford Motor
Company with a new position as the
national port operations and logistics
manager for Jaguar and Land Rover.
David Seiner (MSIA) has been a
financial advisor with Ameriprise
Financial since graduating from the
Tepper School in 1995. He is a Certified
Financial Planner and a Senior
Financial Advisor, working in the
Monroeville, Pa., office. David recently
was a panelist for the Journal of
Financial Planning Frontier Awards. He
achieved a second-degree black belt in
Seidokan Karate in 2005 and enjoys
being the assistant percussion
instructor for Penn Trafford High
School Marching Band and
eighth-grade religious school teacher
at Temple David in Monroeville, Pa.
Leah Chiavacci Shuldiner (MSIA) has
taken a position as the director of
resource development for Child Health
Services, a clinic that provides medical,
psychosocial and nutritional care for
disadvantaged kids in Manchester,
N.H. Leah will head the fundraising
and community relations activities for
the organization.
Nicholas J. Colella (MS/MCS ’79,
Ph.D./MCS ’86, PFE) joined Incubic
as a venture partner in January 2007.
He serves on the science advisory
board of Zyvex Corporation, a
nanotechnologies company. He also
serves on the board of Ultracell
Corporation, a privately funded
company manufacturing reformed
methanol fuel cells. From August 2001
through December 2006, he served on
the senior executive team of Tessera,
Inc. During his nearly five-year tenure
at Tessera as senior vice president,
Nick built and led the company’s
product miniaturization division and
contributed to corporate strategy.
Douglas Frank (MSIA) completed his
Ph.D. in managerial economics and
strategy at Northwestern University in
June 2006. Doug, his wife, Lisa, and
daughters, Emma, 3, and Clara, 1,
moved to France, where he is assistant
professor of strategy at INSEAD in
Fontainebleau.
Clara, 1 and Emma, 3-1/2, daughters of Doug Frank (MSIA ’95)
Dave Drach (MSIA ’94) and Matt Wagner(BS/MCS ’90, MSIA ’94)
Stephanie Horwitz (BS) completed
her MBA this spring at the University
of California at Berkeley, Haas School
of Business, and also studied
abroad as an exchange student at
the Indian School of Business in
Hyderabad, India.
Jordan Rosner (MSIA) is a volunteer
EMT (emergency medical technician),
volunteering 20 – 30 hours per month.
Recently he was awarded a Life Saving
Citation by Westchester County
Emergency Medical Services and a
Life Saving Medal from the Town of
Scarsdale for helping to bring back
to life a person who had suffered a
stroke. This person was able to return
to his family after a short stay in
the hospital.
Ted Wadsworth (MSIA) is now a
promotional inventory manager at
Boston Beer, makers of Samuel
Adams. Ted and Leila welcomed their
second daughter, Emma Lee, who
was born on March 27. Emma joins
3-year-old Anna Mae.
1994
Nurca (MSIA ’94) and Erkan (MSIA ’94)Bozkurt, with sons, Arman, 5 and Tolga 1-1/2
Nurca (MSIA) and Erkan (MSIA)
Bozkurt moved to Chicago in 2000 and
are both working for Kraft Foods.
Erkan is the director of analytics for
the grocery sector, while Nurca is
shopper analytics manager for Kraft’s
shopper insights & analytics group.
They are happily busy raising their two
boys, Arman, 5, and Tolga, 1. They last
Matt Wagner (BS/MCS ’90, MSIA),
owner of Bob Wagner’s Flooring
America, his wife, Jenn, and their kids,
Sam, 11, and Emma, 8, visited Amy and
Dave Drach (MSIA ’94) and their kids,
Thomas, 17, and William, 12, in
Highlands Ranch, Colo., in August 2006,
for a whirlwind vacation of hiking,
swimming, eating Mexican food and
reliving Game. The Wagners continued
on to Denver where they discovered the
best bowling alley and passed, punted
and kicked at Mile High Stadium.
1995After two great years in New York City,
Marlene and Ernesto Arteta (MSIA)
have moved back to Chicago. They will
miss the excitement of the city and all
the Tepper alums in the area, but are
happy to be back in Chicago. They
announce the birth of their first child,
Graham Sebastian, who was born
January 18. Ernesto joins fellow Tepper
alum Steve Kroah (MSIA ’95) at Lotsoff
Capital Management, where he is an
assistant portfolio manager in the
hedge fund group.
In 2006, Babak Bazmi (MSIA) took a
new position within Merck & Co., Inc.,
as senior director of marketing
Communications for GARDASIL.
He is responsible for managing the
global promotion and advertising of
GARDASIL to health-care providers
and consumers.
Sammy Kashy (MSIA) has joined
PayNet, Inc., the leader in predictive
analytics for the business lending
industry. Their growing database of
over $400 billion in lending history
allows them to most accurately predict
the performance of small to
medium-sized business borrowers.
Michael Kim (BS) has started a
software and systems engineering
consulting company, Counterpointe
Solutions, Inc., in Washington, D.C.,
with two friends. They are on the verge
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of winning their first prime contract.
He has been happily married to his
beautiful wife, Jane, for almost seven
years now, and they have a
3-year-old daughter, Rayna, and a
1-year-old son, Isaiah.
Yutaka Osawa (MSIA) is the president
of Pinpoint Marketing Japan Inc.
in Seattle. They help Japanese
manufacturers find appropriate sales
partners in the United States.
Dimitris Papageorgiou (MSIA) lives in
Athens, Greece, working as a freelance
business consultant. Currently, he is
working on two large government
projects concerning the
implementation of IT systems for
the public sector and is also doing a
change management project for a
private company.
1996After a year and a half of coursework
and studying, Andrew Barrow (MSIA)
passed the 10-hour comprehensive
CFP exam and is now a Certified
Financial Planner professional.
Tristan Brandt (MSIA) recently joined
News International to head up a
development program to re-launch
the websites for The Times and The
Sun newspapers.
Katie and Ben Hur Castro (MSIA)
welcomed their third boy on October
23, 2006. Adam joins Ty, 5, and Luke, 3.
Ben has also joined Seagate, via the
Maxtor acquisition, as the director of
product line management for the
Seagate Branded Solutions group.
Scott Foust (MSIA) was promoted to
senior vice president of product
operations at First Data Corporation
at the end of 2006. Working within the
First Data commercial services group,
his duties include strategic planning
for the product group, product
communications and the new product
development process. Scott, his
wife, Michele, and their kids, Katie
and Ryan, continue to enjoy living the
Colorado lifestyle.
199710-year Class Reunion
Oct. 26 – 27, 2007
Brian August (MSIA) relocated to San
Francisco after leading a successful
sales effort in the pulp and paper
industry and is now vice president,
director of strategy at AFR Holdco.
He is enjoying the warm weather,
ample outdoor activities and proximity
to the ocean.
Lyenda Simpson Delp (MSIA) and
Warren (Phil) Delp (MSIA) proudly
announce the arrival of their second
daughter, Wren Penelope Delp, who
was born on February 18. Their older
daughter, Willow Paige, is 3 years old
and is excited about her baby sister.
The Delps reside in Glen Ridge, N.J.
Lyenda continues to work at Goldman
Sachs Asset Management and Phil at
Global Crossing.
Michael Lin (BS) has left UBS and
is now in a new position at
Deutsche Bank in the Structured
Equity Finance group.
Kayra, nearly 1, and Evren, 5, children of Pinar Keskinocak (MSIA, 94,Ph.D. ’97)
Krista Markert (MSIA ’97) with sons, Casy,Ryan, Conner and Reagan
Massimo Cerri(MSIA ’97)
Wren and Willow Delp, daughters of Lyenda Simpson Delp ( MSIA ’97) andWarren (Phil) Delp (MSIA ’97)
Roshini Nibbs Cope (BS ’97) and Adima Cope
Having co-founded the France alumni
chapter, in 2005 Massimo Cerri (MSIA)
joined Alcoa, European Mill Products
as business and marketing manager
for Circles & Shapes, Europe.
Reporting to the company’s
headquarters in Geneva, he is based
out of the French office and travels
extensively. He is responsible for
initiating, facilitating and supporting
actions involving sales, technical,
logistics and production colleagues
with the accountability of profitably
reaching the yearly plan in volume
and value. Massimo, his wife, Florence,
and 3-year-old son, Alessandro, live
in Paris.
Roshini Nibbs Cope (BS) was married
to Adima Cope onboard Royal
Caribbean’s Navigator of the Seas
while docked in Miami on November
11, 2006. Laura Seejattan (BS ’99),
Tyrone Rouse (BS/CIT ’97) and
Kellee Brownlee (BS/CIT ’00) were in
attendance. The couple honeymooned
for two weeks on a western then
eastern Caribbean cruise.
Pinar Keskinocak (MSIA ’94, Ph.D.) is
associate professor at the H. Milton
Stewart School of Industrial and
Systems Engineering, Georgia Institute
of Technology. Pinar and Bulent are
the proud parents of Kayra, nearly 1,
and Evren, 5.
Dan and Krista Markert (MSIA)
welcomed Reagan Gunnar to the
family in October 2006. He joins big
brothers Casey, 8, Ryan, 4, and Connor,
3. In January 2007, Krista’s employer of
almost seven years, Good Technology,
was acquired by Motorola, and she
joined the Motorola Mobile Devices
Group and manages a small PMO.
Kerim Paker (MSIA) is now the
managing director of the Turkish
subsidiary of Vedior, a global HR
consulting company.
Richard Pentuk (MSIA) has spent nine
years marketing financial derivatives
for regional banks in Pittsburgh and
Seattle. He was very successful in that
endeavor, but has left to start two
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1998Kimberly Brown Brannon (MSIA)
completed a 14-week Chief Information
Officer (CIO)/Advanced Management
Program at the Information Resources
Management College (IRMC) at the
National Defense University (NDU) in
December 2006. The program is
designed to prepare future CIOs and
IT leaders from defense, military and
government organizations.
David Eiben (MSIA) began his seventh
year with Boehringer Ingelheim
Pharmaceuticals with a new job,
assuming the role of associate director
in the promotional services role of the
marketing organization. In this new
role, David supports the FDA
submission process for all physician
and DTC branding pieces for all BI
Respiratory brands. David, Tracey, twin
three-year-olds Matthew and Steven,
and six-year-old golden retriever
Hannah are still hunkered down in
Ridgefield, Conn.
Mark Harris (MSIA) recently moved
to Connecticut as the Prestone supply
chain leader with Honeywell.
Glenn Harbold (MSIA) married Patty
Kim in September 2006 at his
undergrad alma mater, Cornell
University. They are living in Cleveland
Heights, Ohio, and he is still working
at GasTran Systems.
Shawn and Jennifer Kane McGurrin
(MSIA) welcomed Jack Christopher on
February 22. Jack joins older brother,
Flynn, who is 3.
John Moyer (MSIA) has launched
a new security software company,
BeyondTrust, after selling
DesktopStandard to Microsoft in late
2006. DesktopStandard was the first
software venture he co-founded upon
graduation from Tepper. Among
the founding BeyondTrust team is
Scott McCarley (MBA ’04), director
of marketing.
Ajay Parkhe (MSIA) moved to
Milwaukee to join GE Healthcare as
global pricing executive. He moved
there from Pittsburgh after spending
six years at McKinsey. Ajay and Manju
have two daughters, Annika, 2, and
Avanti, 5.
1999Claudia Alcala (MSIA) married Michael
Alexander Bressler II on March 16
in Caracas, Venezuela. They reside in
Chicago, where Claudia is a senior
associate with Booz Allen. Fellow
classmates attending the wedding
were Jasmine Chung (MSIA),
Jyotsana Garg (MSIA), Amberish
Ratanghayra (MSIA), Jorge Huenufil
(MSIA) and Rob Wu (MSIA).
Claudia Alcala(MSIA ’99)and Mihcael
Alexander Bressler II
Patty and Glenn Harbold (MSIA ’98)
Ajay Parkeh (MSIA ’98) and wife, Manjuand daughters Annika, 2, and Avanti, 5.
new ventures. He is president of two
companies, RPMarketing Associates
(RPM) and RPFinancial Associates
(RPF). RPM performs specialized
marketing and advertising for small
businesses. RPF provides derivatives
consulting to corporate and middle
market clients. While in Bellevue,
Wash., he and his wife, Allie, set up
the HeLP Preemies Fund to assist
premature and special-needs babies
and their families at Overlake Hospital.
The fund is named in celebration of
their daughter Heleyna, who spent 58
days in the hospital’s NICU.
Nana and Takumi Sakagami (MSIA ’97)
Takumi Sakagami (MSIA) has started
a new private equity firm, Ridgeway
Capital Partners Limited, with five
partners focusing on buy-outs of
Japanese and Asian companies.
Paul Yeakel (MSIA) recently joined
Curtis Financial Group, LLC, a
boutique investment banking firm in
Philadelphia. He will be focused on
traditional I-banking activities and
ramping up a real estate financing
group within Curtis. Paul and Pilar
celebrated the arrival of their third
child, Russell, on June 6, 2006. He joins
Mae, 8, and Wes, 5.Jim Tragakis (MSIA) is now the chief
of staff for Deloitte’s Federal
Government Services, focusing on
operational improvements, and merger
and acquisition activity for this fast
growing practice.
Sam Chang (MSIA) recently relocated
from the Bay area to even sunnier
San Diego and is working for Conexant
as a director of marketing, focusing in
the IP video market. Sam and his wife,
Diane Kim, have two daughters, Julia,
4, and Grace, 1.
Carlos Eduardo Espinal (BS) is
currently working for the venture
capital fund of the private equity firm
Doughty Hanson in London.
Allen Go (BS) moved to New York City
to work for Mystic Capital Advisors
Group, an investment bank that
focuses on the insurance industry,
where he is senior associate.
Eric Hoffmann (MSIA) has left Sapient
and now works for KPMG in London.
During the summer of 2005, Kathleen
Rai (BS/CIT ’90, MSIA) was able to
spend some time in Taiwan as she was
invited to share U.S. practices with
the Taiwanese government, a number
of private firms and universities. She
was able to get together with fellow
classmates Linda Chang (MSIA),
Amy Chen (MSIA), Jean Lin (MSIA)
and Wanli Wang (MSIA). Kathleen
is working from home on an NSF
research project and on a start-up
that specializes in high-end coating
development.
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2000Linda Bliss (MSIA) and her husband,
Chris, recently relocated to
Massachusetts. She is manager of
supply planning and launch projects
with EMD Serono, Inc., a German-
Swiss biotech company with U.S.
operations in Rockland, Mass.
Bill Carey (MSIA) and his wife, Staci,
are proud to announce the arrival of
their son, Liam, on August 16, 2006.
He weighed in at 7 lbs. 11 oz. Bill is a
director at Capital One Financial
Corporation, managing the MIS team
that provides reports to their U.S.
credit card businesses.
Michael Chian (BS) received an
MBA from UCLA Anderson. He is
now a senior pricing manager at Wind
River Systems.
Emily Chiu (BS) resides in Los Angeles
and is now an assistant vice president
at JPMorgan in the global trade group,
managing relationships with a focus on
corporations on the west coast as well
as Asian multinational corporations.
Nick (BS/CIT ’01) and Elayne Crain
(BS) are pleased to announce the
arrival of Benjamin Camden Crain,
born on September 30, 2006. The family
will be relocating to Austin, Texas, this
summer so that Nick can pursue his
Ph.D. in finance at the University of
Texas at Austin, where he has a
Harrington Fellowship.
Patrick Toole (BS) married Estee
Naggar on September 3, 2006.
Linda and Jake Witherell (MSIA)
welcomed Nathan on December 6,
2006. Nathan is pestered constantly by
his two older sisters, Abby and Kailey.
John J. Zanardelli (PFE) is the
executive director and CEO of United
Methodist Services for the
Aging/Asbury Heights in Pittsburgh.
He has been appointed to work with
the Academy of Management, Tepper
School of Business and Heinz School
of Public Policy and Management on
the Evidence-Based Management
Collaborative, which is headed by
Denise M. Rousseau, Ph.D.
Kathleen Rai (MSIA ’99), Linda Chang(MSIA ’99), Amy Chen (MSIA ’99), JeanLin (MSIA ’99), and Wanli Wang (MSIA ’99)
Mimi Pauliana, Lou Campero (BA/CFA’00), Ben Kartzman (BS/H&SS ’00),Douglas Jones (BS ’00), Sharif Siddiqui(BS ’00), Thomas Seier (BS/H&SS ’01),John Petrillo (BS/H&SS ’01)
Jason Stone and Jordan Pierce, sons of Jun(Jim) Zhao (MSIA ’99) and Sherri Chea(MBA ’02)
Benjamin Camden Crain, son of Nick(BS/CIT ’01) and Elayne Crain (BS ’00)
Yaniv Grinstein (MSIA ’97, Ph.D.),
assistant professor of finance at the
Johnson School, is working at the
Securities and Exchange Commission
as a visiting academic scholar until
June 2007. He will continue his
research efforts in corporate
governance and corporate finance,
as well as in other areas, for the SEC.
His current projects at the Johnson
School involve an analysis of the effect
of the new governance rules in the
United States on corporate value, an
examination of executive compensation
in U.S. corporations and a look at the
role of corporate boards in monitoring
firms. Yaniv has published in several
journals, including the Journal of
Finance and the Journal of Financial
Economics. His research has been
widely cited in major publications such
as The Economist, Financial Times,
Newsweek, New York Times, Los
Angeles Times, Forbes magazine, Time
magazine and Washington Post, as well
as in Congressional hearings on the
new governance rules. He is the
recipient of the Best Paper in
Corporate Finance Award from the
Southwestern Finance Association in
2005 and of the Clifford H. Whitcomb
faculty fellowship in 2004–2005.
Rubina (BS) and Jishnu Guha (BS)
have moved to New York City, where
Jishnu is vice president, equity
research compliance with Bank of
America.
Douglas Jones (BS) started a new job
in January 2007 as senior manager,
web producer for Quinstreet in San
Francisco. Doug and Mimi Pauliana
were married on September 30, 2006.
Fellow alumni in attendance were Lou
Campero (BA/CFA ’00), Ben Kartzman
(BS/H&SS ’00), Sharif Siddiqui
(BS ’00), Thomas Seier (BS/H&SS ’01)
and John Petrillo (BS/H&SS ’00).
After 22 years in Pittsburgh, Tomio
Inomata (BS/MCS ’89, MSIA), his wife,
Colette, and their children, Felicia, 9,
Carter, 6, and Parker, 3, moved to
Atlanta last spring. Tomio is client
delivery manager with SBC Systems.
SBC Systems is a small software
company that develops benefits
administration software.
One of Daniel Kuhlman’s (MSIA)
fellow classmates told him that he
didn’t go to business school to learn
how to be in the corporate world but to
learn how to run a business. With that
in mind, Dan just opened TASTES Wine
Bar & Bistro with his wife, Kristel in
Denver, Colorado. They are already
looking at opening number two this
year. Raising their 18-month-old son,
Gustave, and running a new venture at
the same time is indeed difficult.
Ani, Frances andJose Li (MSIA ’00)
On May 11, 2006, Jason Stone and
Jordan Pierce were born to Jun (Jim)
Zhao (MSIA) and Sherri Chea (MBA
’02). Jim has left Federated Investors’
New York office and joined
Oppenheimer Capital as a vice
president/research analyst. He is
now covering the cyclical stocks
for Oppenheimer Capital’s
international team.
This past January, Ani and Jose Li
(MSIA) traveled from Memphis to
Peru to visit their families and baptize
their daughter, Frances Naomi, who is
8 months old now. Ani is marketing
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manager for Autozone, and Jose is
principal retail and eCommerce for
FedEx. They have also started an
import/export company that leverages
Asia/China sourcing and sells/
markets products to U.S. and Latin
American markets.
Ian Lomax (MSIA) and his wife, Kim,
were thrilled to welcome Vivian Jayne
Lomax into the world on March 14.
Weighing in at 7 lbs. 15 oz. and
measuring 21 inches long, she’s skinny
and beautiful. Kim and Ian have
relocated back from Germany
to Portland, Ore., and he is still in
marketing with HP.
Jennifer Jo Kaniecki MacNeil (MSEC)
was married on November 11, 2006
to Dr. Joseph H. MacNeil in Pittsburgh.
Jennifer is a project engineer for
Bechtel Plant Machinery, Inc. in
Monroeville, Pa.
Steve Novak (MSIA) and his wife,
Linda, are happy to announce the
birth of their son, Logan Anthony, on
September 19, 2006 (which is also
Steve’s birthday). Logan weighed in
at a Texas-sized 9 lbs. 6 oz., and was
21 inches long at birth. The Novaks
are doing well in Dallas, where Steve
is a business planning manager at
Texas Instruments.
On October 14, 2006, Alicia Quan
(MSIA) married Darryl Brown.
Matthew Saalfeld and Anna
Reszetucha (BS) were married
November 7, 2004, in Miami with Jo
Gentle (BS ’00), Vikas Sood (BS ’00),
Kim Martin (BS/MCS ’00), Alice Wu
(BS/CIT ’00, MS/CIT ’01) and Geoff
Barbanell (BS ’01) in attendance. They
welcomed their first child, Isabella
Maria Saalfeld, on July 11, 2006. She
weighed 8 lbs. 10 oz. The Saalfelds
reside in Kentucky and are managers
at Procter & Gamble in Cincinnati.
Nancy Sansom (MSIA) and her
husband, Dave, welcomed Noah
Benjamin into the world on December
20, 2006. Noah’s big brother, Gabriel, 3,
was very excited about his arrival.
Matthew Snyder (MSIA) earned the
CFA Charter in October 2006.
Alwin Sulaiman (MSIA) recently
transferred to Sun Microsystem’s
office in Hong Kong on a temporary
assignment with responsibilities that
range from supplier management to
helping build Asian Operations.
David (MBA) and Jill (MBA ’01)
Uhryniak, with sons Cal and Owen,
are delighted to announce the birth of
Sarah Jane on March 21, 2006.
2001Pamela (MBA) and Shane Barnhill
(MBA ’03) welcomed their second son,
Sean, on January 8. He joins his proud
big brother, Bretton, 4. Pam is vice
president of InnSuites Hotels, and
Shane was recently promoted to
IT Manager at Honeywell.
Khang Hiu (MSIA) and his brother
started a business and IT consulting
company, HTS Infosys, Inc. where
Khang is co-owner and president.
Reena Kaushik (MSIA ’01) recently
joined ProSource Strategy Consulting
Company as a managing partner in
New York. ProSource is a strategy
consulting firm that is focused on
helping clients across the globe
improve operations and grow their
businesses by leveraging their network
of global service providers. By
providing a combination of strategic
consulting services and hands-on
execution support, they help their
clients exceed their business
objectives. ProSource works directly
with their client decision-makers to
develop and implement business
strategies that transform organizations
leveraging global competencies of
service providers across international
geographies.
Ann Tongwarin Koerner (MBA) and
her husband, Rick, recently relocated
to Denver, Colo., and love it. They
have two children, Jenna, 3, and
Caden, 1. Ann transferred from AOL
to MapQuest and is a director of
program management.
Mark Kim (MSEC) was promoted to
manager in the Samsung Corporation,
Korea.
Joey Rahimi (BS), founder of
CollegeProwler.com, was featured in
the New York Times, the Washington
Post, the Los Angeles Times and
the San Francisco Chronicle, and in
Reader’s Digest and on CNN. The
company has purchased and
rehabilitated six properties in the
Pittsburgh area.
Alex Saunders (BS) has been living in
Sydney, Australia, for the last two
years and recently took on a new role
as a project manager at Deloitte
Australia.
Logan Anthony Novak, son of Steve Novak (MSIA ’00)
Sean and Bretton Barnhill, sons of Pamela(MBA ’01) and Shane Barnhill (MBA ’03)
Michael Bett (BS/MCS ’86, MBA) is
managing director of the 170-person
Pittsburgh Science of Learning Center,
a joint center between Carnegie Mellon
and University of Pittsburgh.
Ajay Dugar (MSEC) recently moved
to Los Angeles as product director of
ClickStar, Inc.
Eric Evans (MBA) has left J&J for a
promotion to vice president finance
of Tyco Healthcare’s $1.2 billion
pharmaceuticals division. Eric and
Marta have relocated to St. Louis.
Harrison Flakker (MSIA) raised capital
and launched LegalScience, a software
development company offering a wide
range of e-discovery, litigation support
and consulting services to law firms
and corporate clients. Premised on the
idea that the delivery of legal services
can be quantified and improved,
LegalScience’s business and
technology solution permits attorneys
and clients to measure and gauge the
effectiveness of their litigation process.
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On May 11, 2006, Jason Stone and
Jordan Pierce were born to Sherri
Chea (MBA) and Jun (Jim) Zhao
(MSIA ’99). Jim has left Federated
Investors’ New York office and joined
Oppenheimer Capital as a vice
president/research analyst. He is
now covering the cyclical stocks
for Oppenheimer Capital’s
international team.
David Eidsaune (PFE) is a commander
at Eglin Air Force Base in Florida.
John Gledhill (MBA) has moved back
to his native area, Massachusetts, and
has joined NorthCoast Partners, a
mergers and acquisitions advisory firm.
John helps privately held companies
in the lower middle market sales of
about $2 to $25 million to successfully
transfer their business ownership.
Neena Ellen Kayande was born August
18, 2006, to proud parents Samir (MBA)
and J.J. (MBA) Kayande.
Peter Lee (MBA) married Ji Yeon Park
last fall. Peter is currently a marketing
manager with Philips Medical
Systems, and the couple is currently
residing in San Francisco.
Chad Luce (MBA) received a promo-
tion in November 2006, becoming the
regional finance manager for Pepsi
Bottling Group Northern New England.
In September 2006, Felix Malpartida
(MBA) moved from Geneva to London.
He has left P&G after eight years
to join AllianceBernstein, an asset
management firm, as buy-side
research analyst, focused on
telecommunications companies in
Europe, Asia and Latin America.
Ashwin Mehta (MSCF) is currently
working with Ambit Capital, a
brokerage house in Mumbai, India,
in the area of equity research, tracking
IT and real estate sector stocks.
Paul Minor (MBA) and his wife,
Joy, live in Raleigh, N.C. He recently
accepted a position as a senior
business analyst with Fidelity
Investments in Durham.
Jill (MBA) and David Uhryniak (MBA
’00), along with sons Cal and Owen,
are delighted to announce the birth of
Sarah Jane, on March 21, 2006.
Shirley Wang (MBA) has left HP and is
now working at Symantec as principal
financial analyst supporting the global
channel office. Shirley, her husband,
Jonathan Shen, and daughter,
Katherine, 2, live in California.
20025-year Class Reunion
Oct. 26 – 27, 2007
Sergey Arefiev (MBA) left Deutsche
Bank and has joined Citigroup as a
director in the rates structuring group.
David Betts (MBA) was recently
promoted to manager in Strategy &
Operations, Healthcare with Deloitte
Consulting, LLP. On April 15, David
completed the 140.6 miles of the Ford
Ironman Arizona triathlon in Tempe,
Ariz. His first competition since taking
up for the sport in 2004 proved to be a
challenge. However, Dan says that
Tepper helped to teach him how to
focus on solving problems, and the
competition was essentially three very
long and difficult problems strung end
to end that required significant focus
and determination to “solve.”
Camilo Muñoz (MBA) married Luisa
Lozano in March 2006, and they reside
in Bogota, Colombia. He continues
working at McKinsey & Co., Andean
Pact, and was recently promoted from
engagement manager to associate
principal.
Paul Nguyen (BS) was awarded the
inaugural Federal Computer Week
Rising Star Award for his development
of an information security metrics
program as the chief information
security officer for the Federal Court
Services and Offender Supervision
Agency.
James Moore (MBA) and his wife,
Gong Yanlin, welcomed Tianna Lin
Moore on June 12, 2006. James is the
director, supply chain for Performance
Motorsports Inc. in Mentor, Ohio.
Kaori Negoro (MBA) joined Mozilla
Japan last July. Mozilla provides open-
source products such as Firefox and
Thunderbird.
Debi and Allen Reihman (MBA)
adopted their son, Mateo Allen Diaz
Reihman, in November 2004, and then
added Sofia Clare Paau Reihman in
December 2006. Both children are from
Guatemala. After stints in corporate
development and division finance,
Allen got his P&L two years ago at
Eastman Chemical Company. A recent
promotion landed him with global
business management responsibility
for a $150 million adhesives business.
Andreas Rindler (MSIM) joined the
financial services practice of
BearingPoint UK as a senior
consultant. His responsibilities are
focused on business process
management and enterprise content
management, but also include systems
integration and strategy consulting.
Rick Yoon (MBA) has moved to
Johannesburg in South Africa as a
new OA/IT director for Samsung
South Africa.
2003Shane (MBA) and Pamela Barnhill
(MBA ’01) welcomed their second son,
Sean, on January 8. He joins his proud
big brother, Bretton, 4. Pam is vice
president of InnSuites Hotels, and
Shane was recently promoted to
IT Manager at Honeywell.
Stephen Bassett (MBA) recently
relocated to San Diego to build a
business in the biotechnology sector
and enjoy the beautiful weather.
David Betts (MBA ’02) crosses the finish line
Camilo Muñoz (MBA ’02) and his bride,Luisa Lozano
Olivia Izabella Carleton, daughter of KentCarleton (MBA ’03)
Nicole and Kent Carleton (MBA)
welcomed Olivia Izabella on December
18, 2006. Kent is a business manager at
PPG Industries in Pittsburgh.
Andrew Johnson (BS) joined Carnegie
Mellon spin-off SureLogic, which
incorporated in spring 2006, and works
in marketing and communications.
While the company is based in
Pittsburgh, Andrew recently moved to
San Francisco, where he works from
his home.
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Lloyd Foster (MSIA) joined AIG on
March 1 as vice president and actuary,
risk finance. He also had his novel,
Identical Mistakes, published.
Last summer, Peter Johnson (MBA)
took a position in Microsoft’s
entertainment division to help develop
the strategy for bringing the Zune
media player to market. Since his time
at Tepper taught him that you can
never be too busy, he and his wife are
building a house in Seattle as well.
Todd Justman (MBA) was recently
promoted to vice president, senior
eCommerce product consultant at
Bank of America. He manages the
development of identity and
credit decision capabilities for the
account opening process on
BankofAmerica.com.
Mukund Kumar (MSCF) recently
moved to Orange County, California,
to join PIMCO as a senior
developer/financial engineer.
After graduating, David Lee (BS,
MS/Heinz ’04) moved to Washington,
D.C., to work for the federal
government. He initially joined OMB
and then went on to the Department of
Commerce, working on international
trade promotion and export control
issues. After two years, he returned to
OMB and now works on homeland
security issues as a program examiner.
Sophia Elizabeth Marks was born on
June 9, 2006, to Tanya Sander-Marks
(MBA) and Brian Marks.
Idan (MBA) and Eynat Mor (MBA) are
pleased to announce the arrival of
Omri Mor, born on December 24, 2006.
Omri joins big sister Maya, 4, at home.
Idan has joined Evergreen Venture
partners, one of the leading venture
capital firms in Israel, as an investment
manager dealing with communications
early-stage ventures.
Smitha Murthy (MBA) and Achuth
Rao (MBA) were blessed with a sec-
ond baby boy, Ishir, on December 9,
2006. He joins his big brother, Mihir.
Neil Walter (MBA) and his family –
wife, Michelle, and daughters Grace
and Emma – moved to St. George,
Utah, in 2005 to help out with a family
business. They are enjoying the
benefits of small-town life, including
horseback riding, a little farming and
spending time with family. This past
summer, Neil became a CFA
Charterholder.
Vivien Xiong (MBA) and her husband,
Harry Mei, launched a start-up venture,
Advanced Energy and Environmental
Technology, LLC, which will require
moving back to China. Vivien and
Harry are enjoying 2-year-old Micah.
Angela and Clovis Young (MBA)
moved to Sydney in December 2006 to
start a Mexican restaurant-taqueria
concept. They hope to have their first
location open by September and, with
some luck, will be ready to roll out
additional locations soon thereafter.
Sydney is a great city, and they
would love to see some Tepper faces
down under.
2004
Their video is currently airing on all
music channels in India, including
MTV, Channel V and Zee Music.
Michelle Ng Chang (MBA) was
married to Tyrone Chang on April 16,
2005 in New York. She is the product
manager for Norton AntiVirus at
Symantec.
Nicholas Gammell (BS) has taken
a new job and is now a financial
analyst, marketing and product
management with Google, Inc. in
Mountain View, Calif.
Anindya Ghose (MSIA ’02, Ph.D.) is an
assistant professor at the Stern School
of Business, New York University. He
was recently awarded the prestigious
NSF CAREER award from the National
Science Foundation, which is a
$500,000 grant. The Faculty Early
Career Development Program
(CAREER) is a highly competitive,
foundation-wide activity that offers
the NSF’s most prestigious awards for
new faculty members. The CAREER
program recognizes outstanding
scientists and engineers who, early in
their careers, show exceptional
potential for leadership at the frontiers
of knowledge and are most likely to
become the academic leaders of the
21st century.
Yuko Horiuchi (MBA) has switched her
job from structured credit to real
estate finance in Nikko Citigroup. She
is providing finance to equity investors
for their property acquisitions.
Compared to the U.S. and European
markets, the real estate and CMBS
market in Japan has not yet matured,
but it provides higher yield and attracts
foreign money. Given that situation, she
is very excited to work in this area.
Patrick Hung (MBA) and his father
started a business supplying the needs
of discount retail stores in the San
Francisco Bay Area. In his spare time,
he has undertaken the ground-up
restoration of a 1963 Alfa Romeo
Spider. It took him a year to tear
everything down; it’ll be another
two years before it will be ready for
the road.
Palak Jain (MBA) recently started
boutique merchant bank, Clear Trade,
located in India and New York. He has
been splitting his time between India
and the United States.
Helen Wei and Danny Li (MBA) were
married in May 2006 in southern
California. Danny has been promoted
to vice president of financial analysis at
Countrywide.
40
Ankur Bhasin (BS ’04)
Tyrone and Michelle Chang (MBA ’04)
After graduation, Ankur Bhasin (BS)
started an animation studio and works
predominantly for the German market,
producing cartoon series to teach
children how to play soccer. On April
11, musical duo Dhunn, of which he is
half, launched an album in Mumbai.
They were featured in the April issue
of Generation Y magazine and were in
Rave magazine as well.
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Patrick Rutherford (MBA) relocated to
Atlanta with Home Depot after more
than two years of moving around with
Black & Decker.
Priya Shenoy (MBA) has moved from
financial services to consumer
packaged goods, now working for
Playtex Products. Priya married
Rohit Prabhu in June 2006.
Heather Yin (MBA) relocated from
Chicago to the New York City area in
July 2006 and is working for Prudential
Investment Management’s fixed
income group.
Anthony Ventura (MBA) is the vice
president at Source Capital, Ltd. in
Pittsburgh.
Qian Wang (MBA) was promoted to
Finance Director of Asia-Pacific region
by Goodyear. She will move to
Shanghai headquarters in 2007.
2005James Barlow (MBA) recently moved
to Philadelphia to begin a market
research rotation at Merck’s U.S.
human health headquarters. This is his
second rotation in Merck’s marketing
leadership program.
Rebekah and Doug Dent (MBA) are
pleased to announce the birth of their
third child, John Moses Dent. “Jack”
was born in Frisco, Texas, on January
24. Jack’s older siblings, Abraham, 6,
and Anna, 4, are very happy to have
him around.
Sandy and Patricio Gamboa (MBA)
report that life in Chicago is great.
Regina is almost 3 years old, and Dario
is 1. Patricio is now finance manager
within Sara Lee.
David Harel (MBA) reports that his
fund, Reticle Partners, completed
its acquisition and are now the
proud owners of Columbia Northwest,
a leader in lightweight RV
manufacturing.
Greg Gonzalez (MBA) and Jeff
Holden (MBA) traveled to Dubai to
visit Barkha Ohri (MBA). On the way
there, they stopped in Dublin and
saw Hugo Losada (MBA), his wife,
Cecilia, and bouncing baby boy,
Diego. On the way back, they met with
Vivek Acharya (MBA) in London.
Byongsu Christopher Kim (MBA)
has recently been promoted to the
position of director, business planning
and operations with Novartis
Pharmaceuticals in Cambridge, Mass.
Lisa and Jason Lambert (MBA) were
blessed with the birth of their son,
Jason William, Jr., on August 9, 2006.
They live in Connecticut, where Jason
is a manager in Deloitte Consulting’s
strategy and operations practice.
In June of 2006, Hugo Losada (MBA)
and his wife, Cecilia, moved to Dublin,
Ireland, where he is strategic planning
manager for Cemex. On October 13,
2006, their son, Diego, was born.
David Schiffer (BS) switched jobs in
mid-March to the Situs Companies,
where he is an Analyst II, specializing
in the underwriting due diligence of
CMBS loans.
Gregory Shumavon (MBA) and his
wife, Tricia L. Shumavon, welcomed
twin girls Katelyn and Alexandra on
July 18, 2006.
Srinivas Suri (MBA) and Tricia
Robinson (MBA ’07) were married on
February 21 and live in Danbury, Conn.
Srinivas received a promotion at IBM
to financial analyst of storage systems,
and Tricia was promoted to director of
service, northeast at GE Healthcare.
Radha and Kamesh Varadarajan
(MBA) were blessed with a beautiful
baby daughter on November 3, 2006,
whom they named Vandana, which
means “worship” in Sanskrit. Kamesh
is still with Avaya and works as
operations finance manager for the
IT organization.
Ryan Will (MBA) and his wife, Kelley,
were blessed by the birth of Kaylin
Ann on February 3, 2007. The family
lives in Pittsburgh, where Ryan is a
relationship manager with PNC
Real Estate Finance.
Chris Xia (MBA) married Alice Aili
on December 30, 2006, and the couple
lives in Hartford, Conn. Chris is a
senior manager with IBM Business
Consulting Services.
Fred Chang (MBA ’04), Steve Cheung (MBA ’04), Min Cheung, Sehan Bong, Wanda Yu(MBA ’04), Helen Wei, Danny Li (MBA ’04), Jason Judd (MBA ’04), Amy Judd, HanwookKim (MBA ’04), and Lisa Tsui (MBA ’04)
Christine Tang (MBA ’04) and KevinWilson (MBA ’04)
John “Jack” Moses Dent, son of Doug Dent(MBA ’05)
Gregory Shumavon (MBA ’05) with twingirls Katelyn and Alexandra
Grace Hwang (BS ’05), Misty Muscatel (BS ’05), Laura Graf (BS ’05) and Kavita Shah (BS ’05)
Christine Tang (MBA) and Kevin
Wilson (MBA) tied the knot in
Newport Beach Harbor aboard the
Destiny on September 3, 2006. Fellow
Tepper alumni in attendance included
Dan Green (MBA ’04), Siqi Tan
(MBA ’04) and Yan Yan Zheng
(MBA ’05). Christine is a manager
with Diamond, and Kevin is a senior
consultant with CGI.
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In March, Grace Hwang (BS), Misty
Muscatel (BS), Laura Graf (BS) and
Kavita Shah (BS) took a vacation to
the Bahamas for several days. It was a
great time to hang out and spend time
on the beach! Misty, Kavita and Grace
are in New York City, and Laura still
lives in Pittsburgh. Misty works at
Google, Laura works at Alcoa, Kavita
works at Lehman Brothers and Grace
works at Barclays Capital.
2006Carolina Carvalho (BS) is working at
Deutsche Bank in the global prime
finance equity sales division in New
York City.
Pradeep Kanwar (MBA) and Dr.
Himabha Verma were married on
December 12, 2006. Pradeep is an
associate in credit training at
JPMorgan Securities Japan Co., Ltd.
They live in Tokyo and are enjoying
getting to know the country together.
Tricia Robinson (MBA ’07) and SrinivasSuri (MBA ’05)
In MemoriamIsabelle Frommann (MSEC ’01) passed away on April 10, 2007, from a metasta-
sized malignant melanoma. She was an active leader of the Tepper London Alumni
Chapter who coordinated alumni events and kept connected with other business
schools in London.
Jim Schornhorst (MSIA ’97) passed away on September 28, 2006, in a car accident
in Michigan.
Jeffrey R. Sanders (MSIA ’78) passed away on March 23, 2006.
Student-Alumni golf outing winning team –Josh Beck (MSIA ’07), Christian Wuerth(MSIA ’07), Dan Wyse (MSIA ’07) andNathan Succop (MSIA ’07)
Neil Sanyal (BS) is a financial analyst
for Goldman Sachs, covering the
brokers in global investment and
research. He also recently purchased
a home in Jersey City, N.J.
On August 5, 2006, Thomas Scherr
(MBA) and Alia Huggins were married
in Morgantown, W.V., with many of
their friends from the class of 2006 in
attendance. Thomas is a high yield
bond analyst for Federated Investors
in Pittsburgh.
Upon graduation from Tepper, Peter
Sukits (BS) was commissioned a
second lieutenant in the Army. He
completed basic field artillery officer
training and airborne (parachutist)
school and is currently a fire direction
officer in the 18th Airborne Field
Artillery Brigade at Fort Bragg, N.C.
2007Daylian Cain (MBA ’03, Ph.D.)
successfully defended his dissertation
and accepted a tenure-track position
at Yale University. He teaches
negotiations and designed a course,
Leadership and Values, at the Yale
School of Management.
Tricia Robinson (MBA) and Srinivas
Suri (MBA ’05) were married on
February 21 and live in Danbury, Conn.
Srinivas received a promotion at IBM
to financial analyst of storage systems,
and Tricia was promoted to director of
service, northeast at GE Healthcare.
New in Lifelong LearningThe Speaker Presentations section offers:
� The 2007 Tepper Graduate Diploma Ceremony with guest speaker,
James Rohr, Chairman and Chief Executive Officer of PNC
Financial Services.
� Ken Keeley, Executive Director of the Career Opportunities Center,
moderating an alumni panel for Welcome Weekend 2007. Alumni
panelists: Angela Blanton (MSIA ’99), Jim Mavros (MBA ’01),
Peter Mwanza (MBA ’01), James Ostry (MSIA ’94) and Connie
Wendzicki (MSIA ’91).
� William Pounds (BS/CIT ’50, MSIA ’59, Ph.D. ’64), Dean/Professor
Emeritus of MIT’s Sloan School of Management discussing
Corporate Governance.
Watch the video interview of Don Moore, Associate Professor of
Marketing, discussing conflicts of interest, negative consequences
associated with conflicts and offering options, and incentives that
practitioners can make to reduce them. These videos and more can
be accessed in Expert Commentary.
In Faculty Research, read The Monetary Policy Debate Since
October 1979: Lessons for Theory and Practice by Marvin Goodfriend,
Professor of Economics.
www.tepper.cmu.edu/lifelonglearning
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“Generosity has itsrewards. My family and I have found that we receivejust as much back in personal fulfillmentwhen we support relevantphilanthropic causes.”
Additional information about the W.L. Mellon Society can be found atwww.tepper.cmu.edu/mellonsociety.
Your philanthropic supporthas a transformationalimpact on the Tepper School.As a venture capitalist who has managed more than 30 private dealsthroughout his career, John Levinsonknows a good investment when he seesit. Understanding the importance of good returns, exceptional leadershipteams and market growth, he transformsraw potential into reality – both as a private investor and as a philanthropist.
It’s this belief in giving back that linksJohn to the Tepper School’s W.L. MellonSociety. Membership starts at $1,000 andincludes participation in a global alumnirelations network that annually pledgesits support to student scholarships, faculty research and facility renovations.Your gift creates a lasting impact by building upon the decades of supportthat have fueled the Tepper School’s reputation for excellence.
Giving is not only an expression of support for an academic experience that contributed to your career success –it’s also easy to do! Simply return the enclosed envelope or visit www.tepper.cmu.edu/give to make your gift via our secure web site.
John Levinson (MBA ’80)
�Early-stage investor in tech companies
�Founder, Cannupa Foundation
�Husband and father of two
�Competitive sailor and avid skier
�Music enthusiast
�Member, W.L. Mellon Society
Making an impact
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Nonprofit Org.
U.S. Postage
PAIDPittsburgh, PA
Permit No. 251
DM/CB 10/07 23M/FI
Tepper School of BusinessWilliam Larimer Mellon, Founder
Office of Advancement
Carnegie Mellon University5000 Forbes AvenuePittsburgh, PA 15213-3890
www.tepper.cmu.edu
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