A feature article about Joel Stern, '64, appeared in the February 16
Australian Financial Review. It described Stern a "the
man behind the concept of economic value added and a key driver
of the push for shareholder value." Last year, Stern became head
of European operations at his own firm, Stern Stewart & Company.
"Stern has built his business around the concept of making managers
and employees think more like shareholders. The idea has been
taken up with missionary-like zeal by corporations around the
world," the paper reported.
Philip J. Purcell, '67,
chairman and CEO of Morgan Stanley, ranked third in Worth
magazine's May listing of the 50 best CEOs. The magazine called
Purcell "a testament of single-mindedness."
Gary A. Mecklenburg, '70, president and CEO of Northwestern
Memorial Healthcare in Chicago, was appointed chairman of the
board of trustees at the American Hospital Association, a not-for-profit
association of health care provider organizations and individuals
committed to health improvement. The January 29 edition of Managed
Care Week announced the AHA board's election of Mecklenburg
as its new chairman. Mecklenburg has led Northwestern Memorial
since 1985. In 2000, he received the GSB's Distinguished Public
Service/Public Sector Alumnus Award. To read a profile of Mecklenburg
from the Fall 2000 Chicago GSB, go to mecklenburg.htm.
In March, the Dallas Morning News profiled Dumas Simeus, '72,
calling him a "food tycoon." As head of Simeus Foods, a privately
owned manufacturer of frozen food products for the restaurant
industry, Simeus leads the largest African American-owned business
in Texas. Prior to purchasing SFI in 1996, Simeus served as president
and CEO of TLC Beatrice International Foods, the largest African
American-owned business in the United States. At Beatrice, he
was responsible for all operating units in 25 countries.
Karen Katen, A.B. '70, M.B.A. '74, who in April was named the 15th highest
compensated female executive in the United States by Business
Week, was appointed president of Pfizer Pharmaceuticals Group
(PPG) and executive vice president of Pfizer Incorporated. As
president of PPG, she will oversee the company's worldwide pharmaceutical
organization. Katen also will retain her post as president of
Pfizer U.S. Pharmaceuticals. In 2000, she received the GSB's Distinguished
Corporate Alumna Award. To read a profile of Katen from the Fall
2000 Chicago GSB, go to katen.htm.
David Vitale,'76, former vice chairman and director of Bank One, is
the new president and CEO of the Chicago Board of Trade. Vitale's
appointment marks the end of "a long era when political heft was
job No. 1 in the corner office of the futures exchanges," according
to the February 21 Chicago Tribune. According to the paper,
Vitale's top priorities include "completing the exchange's restructuring
to a for-profit entity and settling a dispute with the CBOE on
tradition." The announcement also was carried by the Wall Street
Journal on the same day.
In February, Clayton Rose, '81, left JP Morgan Chase,
the company created by the merger between J.P. Morgan and Chase
Manhattan. While at the firm, Rose served as chief operating officer
of the investment banking division. According to the February
9 Wall Street Journal, Rose was considered among the company's
"most talented" bankers.
President George W. Bush appointed Gary R. Edson, '82,
to the newly created position of deputy assistant to the president
for international economic affairs and deputy national adviser.
In his new role, Edson serves as deputy to both Larry Lindsey,
assistant to the president for economic policy, and Condaleeza
Rice, assistant to the president for national security affairs.
Edson also is responsible for coordinating and integrating international
economic policy with national security and foreign policy. The
Dow Jones Newswire carried the announcement on February
22.
A feature article about Rishad Tobaccowala, '82, appeared in the January 15 edition of Advertising Age. As president of Starcom IP, Tobaccowala has overseen a steady buildup of clients, the magazine reported. "Despite everything that is going on right now [with many dot-com businesses folding], this interactive world is for real," he said.
Corporate culture can be unfair, Mark A. Ernst, '86, told the February
18 New York Times. "These days, there is a corporate version
of hazing in which people, often women and members of minority
groups, have to work harder than others just to prove themselves.
Part of good leadership is to see to it that that culture is not
perpetuated," he told the paper. Ernst is president and CEO of
H & R Block and a former senior vice president at American Express.
The March edition of Futures Magazine named Chung Capital Management
C orporation the No. 1 commodity trading adviser for the year
2000 among firms that manage less than $10 million. Vincent
P. Chung, '88, of Hinsdale, Illinois, is CEO of the company,
which he started in 1995.
Research by Clifford Asness, M.B.A. ¹91, Ph.D. ¹94; John Liew, M.B.A. ¹94,
Ph.D. ¹95; and Robert Krail, a former Ph.D. program
student, was featured on the front page of the money and investing
section of the February 22 Wall Street Journal. According
to the paper, the research asks "whether hedge funds really are
the Holy Grail of investing." The three men, who met at the GSB,
run AQR Capital Management, a hedge fund. The story also appeared
in the paper's Asian and European editions. --T.T.
