PIL L A RS U N I V ER S I T Y O F V I R G INIA | DARDE N SCH OOL OF BU SINE SS | ISSU E 24 | FALL 202 0
CIRCUMSTANCES CHANGE. VALUES PERSIST. Philanthropy Powers Return to Darden
Envisioning the Arboretum and Botanical Gardens PAGE 6 Remembering John Colley PAGE 10
PAGE 3
T LETTER FROM THE DEAN
D I S RU P T I O N I N V I T ES I N N O VAT I O N This fall looks and feels different around Grounds, as you can see on the cover of this issue of Pillars, which shows Chase Rogers (Class of 2022) working in a classroom wearing her Section E mask. Yet as Darden faculty, students and learners start a new academic year, I am heartened to see the mounting evidence that the School’s transformational learning experiences transcend these differences and remain unparalleled. This issue of Pillars highlights the generosity of the Darden community that enabled the School to take dramatic steps this past spring and summer to reimagine how we deliver the world’s best education experience amid a global pandemic. Since the start of the campaign, an impressive $35 million has been raised specifically for the Darden Annual Fund so that the School can say “yes” to the needs of the faculty, students and staff. The results of this generosity include new scholarships, summer internship opportunities for students and recent graduates whose career plans were disrupted by the pandemic, and support for faculty members as they adapt to virtual instruction. Of course, the pandemic is not the only major crisis Darden and the world face today. All of the global challenges we currently face — COVID-19, the accompanying economic crisis and social unrest due to racial inequality — are as relevant to Darden as they are throughout business and society. To that end, your generosity has also provided resources to power new initiatives that foster diversity, equity and inclusion in all areas of the Darden experience. On Page 5, you’ll see that the annual fund has launched a new giving designation to support our ongoing work in that area. All of this would not be possible without your support. I could not be more grateful — or more humbled — by this generosity and how the Darden community has come together to support the School and one another. I hope this issue of Pillars will help you gain an appreciation for the incredible impact philanthropy has created through the $400 million Powered by Purpose campaign — not just for the talented faculty and students who are part of the Darden family today, but also for the innovations to Grounds (Page 6) that will provide the setting for tomorrow’s leaders. I also invite you to read additional inspiring stories like these on our campaign website: giving.darden.virginia.edu. Thank you for your unwavering support for the people and places that make the Darden experience unparalleled. Warm regards,
Scott C. Beardsley Dean and Charles C. Abbott Professor of Business Administration Darden School of Business
$258.2M
Progress Toward Purpose 65% As of 30 September 2020
Powered by Purpose Campaign Goal
$400 million by 30 June 2025
2
PILLARS
FALL 2020
Darden’s Powered by Purpose Campaign Priorities 1. Faculty, Thought Leadership & Curricular Innovation 2. Scholarships, Financial Aid & Student Experience 3. Grounds Master Plan, Technology & Innovation 4. Darden Annual Fund Darden’s progress toward achieving the full potential of these priorities will accelerate as the School advances toward its fundraising goal for the campaign.
Campaign support for the Darden Annual Fund enables the School to remain innovative, invest in top strategic priorities and respond nimbly to emerging opportunities.
ANNUAL FUND
COVER STORY
R ECOR D ANN UAL FUND Helps Darden Reimagine Education Experience Amid Pandemic BY JAY
HODGKINS
$6.1 MILLION
A new record raised for the Darden Annual Fund last fiscal year
T
he Darden MBA Class of 2022 did not arrive on Grounds like prior classes, with high-fives, a packed First Coffee and huge welcome assembly in Abbott Center Auditorium. In fact, the class entered at specified entrances at designated times with signs reminding the community to follow “The Big Four” — wear face coverings, stay six feet apart, wash hands frequently and stay home if feeling sick. In the era of the coronavirus pandemic, such measures ensure the health and safety of the Darden community and create the greatest likelihood for the School to deliver the world’s best education experience with as much in-person learning as possible. These helpful signs were made possible at the Goodwin Family Grounds in Charlottesville and Sands Family Grounds in Arlington through support from the Darden Annual Fund. So, too, were face masks purchased from Darden alumni-owned apparel company Rhoback, new
sanitation stations, a large tent erected in Flagler Court to increase use of that outdoor area, revamped food service and facility operations, and much more. “Developing a plan to deliver the world’s best business education experience within the constraints of the pandemic has required us to completely rethink even the most basic aspects of program delivery from the ground up,” said Dean Scott Beardsley. “The annual fund provides critical resources that allow us to implement new ideas and best practices that will preserve the Darden experience for students through this incredibly unusual academic year.”
RESPONDING TO NEW STUDENT NEEDS Amid the economic disruption unleashed by the pandemic, students are facing an uncertain outlook for jobs and internships as well as personal financial stress. The annual fund is helping address those concerns in a variety of ways.
Continued on Page 4
FALL 2020
PILLARS
3
ANNUAL FUND
Left: Dean Scott Beardsley joined a team of welcome ambassadors clad in orange Darden shirts to greet incoming First Year MBA students on the first day of classes in August. Right: Classrooms are configured with smaller capacities, with appropriate physical distance between chairs.
First and foremost, the annual fund — long a significant source of scholarships — will serve as a critical funding source for scholarships, which are more important than ever. This year, the annual fund will cover costs for the five major career clubs — the Consulting Club, Entrepreneurship & Venture Capital Club, Finance Club, General Management & Operations Club, and Marketing Club — so that students will not have to pay dues or face any other barriers to join. Traditionally, students pay fees to join the many clubs that define the Darden experience almost as much as the case method. “When the coronavirus pandemic hit, my job offer was rescinded, and while that was a nerve-wracking, stressful time, Darden reached out.” said Alexander Spencer (MBA ’20). Spencer accepted a Darden Impact Internship (see story on Page 15) working with Professor Anton Korinek to research the economic impacts of artificial intelli-
gence while also joining Darden’s VentureLab summer incubator to advance his startup, TACK. “It was really powerful and gave me something to get out of this terrible situation, make the best of it and work toward something great for the whole summer.” The typical flow of job and internship recruiting in the fall is also impacted by the pandemic as companies reconsider hiring needs and recruiters navigate travel restrictions. Just in time to tackle the challenge, however, Darden named Michele Rankin as the School’s first senior director of off-Grounds recruiting and specialized careers. With her hire, the Career Center completed a long-standing goal to offer career support from a deep roster of senior industry specialists. And thanks to support for the annual fund, nimble responses are a competitive advantage for Darden, whether addressing new student needs for career support or even an unprecedented pandemic.
For more information on the Darden Annual Fund and ways to give, visit giving.darden.virginia.edu/annual-fund
4
PILLARS
FALL 2020
DARDEN ANNUAL FUND AREAS OF DESIGNATION There are now six areas to designate gifts to the annual fund. • Area of Greatest Need • Diversity, Equity and Inclusion Initiatives • Faculty Excellence • Global Impact • Scholarships > Executive MBA Scholarships
POWERED BY PURPOSE
DARDEN AN N U A L FUND
C L A S S O F 2020 G I V ES B A C K T O DA RD E N BY KRISTEN KEESEE
W
hen the Darden School pivoted to virtual operations and classes in March, student activities and events also took a different shape than before — taking place from behind a computer screen. The cancellation of all in-person events around Grounds left the Darden Student Association (DSA) with a budget surplus for the year. DSA leadership outlined three options for students to decide how to allocate their portion of DSA dues. Students could: • Request a refund. • Direct their dollars to support members of Darden’s food service and hospitality operations. • Give to the Darden Annual Fund.
By graduation, 35 percent of the class had elected to donate their dues to support the annual fund. “If Darden did not have the resources needed to quickly pivot, our student experience this past spring would not have happened,” said Max Linden (MBA ’20), who was the 2019–20 president of DSA. “For students who wanted to give back to Darden, DSA felt it was important to give them the path to do so by supporting the annual fund.” “The Class of 2020 has shown that it is not only resilient, but also driven by purpose,” said Dean Scott Beardsley. “I am grateful for how these students stepped up to care for one another and support the Darden community, particularly during a time filled with much uncertainty.”
If Darden did not have the resources needed to quickly pivot, our student experience this past spring would not have happened.” — MAX LINDEN (MBA ’20)
ANNUAL FUND LAUNCHES NEW DESIGNATION FOR DIVERSITY, EQUITY AND INCLUSION INITIATIVES Following a groundswell of outreach from Darden alumni asking how they can support the School’s efforts to live up to its values as a diverse and inclusive community, the School introduced a new designation to the Darden Annual Fund to create a direct pipeline to support this critical work. The new Diversity, Equity and Inclusion Initiatives designation will power new initiatives identified and prioritized by Darden’s new Racial Equity and Inclusion Working Group. These initiatives will improve the Darden experience and ensure the School fosters an inclusive community that enables its global and diverse members to collaborate and excel.
FALL 2020
PILLARS
5
The campaign allows Darden’s Grounds to set the standard for world-class business education and uniquely reflect the School’s values, interests and purpose.
GROUNDS
The arboretum and botanical gardens behind the new inn and conference center will feature thematic gardens and provide greater connectivity between Darden and the UVA School of Law.
DISCUSSION. COLLABORATION. ENLIGHTENMENT.
New Green Space to Exemplify UVA Ideals BY JAY HODGKINS
iscussion, collaboration and enlightenment are the ideals Thomas Jefferson sought when designing the Academical Village, UVA’s original Grounds, to cultivate an environment in which students and faculty could live and learn from one another.
6
PILLARS
FALL 2020
Though Jefferson might never have imagined today’s expanded UVA Grounds, Darden is now taking the lead to ensure those ideals are maintained on North Grounds. Peer business schools are cutting ribbons on new, state-of-the-art facilities. In executive education, all of Darden’s top competitors have built new conference and hotel facilities with philanthropic and corporate support. Darden, which has long set the bar with its distinguished Grounds, must protect and elevate its MBA and Executive Education experience by taking its facilities and the Darden Inn — which have not been upgraded in 25 years — to a new level. The Darden Grounds Master Plan will enhance the academic experience for all Darden stakeholders and leverage the natural landscape surrounding the School. The School has planned a landscape-transforming arboretum and botanical gardens that will surround the Inn at Darden and C. Ray Smith Alumni Hall and preserve the Grounds as among the best and most beautiful in the world. The new green space will connect Darden, the UVA School of Law and the Rivanna Trail. A leading landscape architecture firm has carefully drawn the new arboretum and botanical gardens, and there are many opportunities for alumni and friends to help bring this vision to life. A detailed map (Page 7) shows available naming opportunities. The arboretum has been supported by a generous gift from George (MBA ’86) and Laurel Tahija and will feature specimen trees from around the world and Virginia. The botanical gardens will feature thematic gardens, such as a magnolia garden, and spaces, such as an outdoor classroom and a pond.
FALL 2020
PILLARS
7
n rde Da t a Inn e h T
SEE NAMING OPPORTUNITIES FOR THE ARBORETUM, BOTANICAL GARDENS AND OTHER GROUNDS MASTER PLAN PROJECTS ON PAGE 8.
Par kin gG ara ge
E X P LO RE T H E F E AT U RES O F P L A N N E D A RB O RET U M A N D G A RD E N S
SUPPORT THE TRANSFORMATION OF DARDEN GROUNDS The new inn and conference center, along with the arboretum and botanical gardens, and C. Ray Smith Alumni Hall will provide unparalleled backdrops to the world’s best education experience. Naming opportunities include: INN AND CONFERENCE CENTER FOR LIFELONG LEARNING (Over 530 naming opportunities available)
The renovated C. Ray Smith Alumni Hall will be adjacent to portions of the planned arboretum and botanical gardens.
S EV E R A L A LU M N I ST E P U P T O HONOR C. RA Y SMITH BY JAY HODGKINS
F
rank M. Sands Sr. (MBA ’63) created a tremendous opportunity to power the renovation of the C. Ray Smith Alumni Hall by pledging $7.2 million for a matching challenge, and several donors have stepped forward with major gifts to unlock the matching funds. Among the list of new supporters is Lem Lewis (MBA ’72). “C. Ray Smith understood the power of a tightknit community, which is why he has been such a valued lifelong mentor to me and thousands of his former students at Darden,” said Lewis. “The renovations to Smith Alumni Hall will create new areas for community and collaboration, which is why I wanted to support this project and honor C. Ray.” Part of Darden’s Grounds Master Plan, the renovated Smith Alumni Hall will house dramatically improved program space for alumni events and lifelong learning opportunities, as well as new office space. Once the Grounds Master Plan is complete, the building will be nestled between a new inn and conference center, new arboretum and botanical gardens, and Darden’s core academic buildings. In September, Darden held an event to honor Professor Emeritus Smith (MBA ’58). More than 100 friends and former students joined the virtual event, offering incredible memories of how Smith has impacted their lives. Through the event and conversations following it, $1.2 million was pledged to support the renovation of Smith Alumni Hall. “One late afternoon on my way to my bartendProfessor Emeritus C. Ray Smith ing job at the Boar’s Head Inn, I bumped into (MBA ’58)
• Featured spaces ($2 million to $5 million) • Academic spaces ($500,000 to $1 million) • Event and meeting spaces ($200,000 to $1 million) • Arrival points ($5,000 to $1 million) • Outdoor spaces ($250,000 to $1 million) • Hospitality ($25,000 to $500,000) ARBORETUM AND BOTANICAL GARDENS (Over 580 naming opportunities available)
• Featured spaces ($5 million) • Aquatic oases ($500,000 to $1.5 million) • Communal spaces ($250,000 to $1 million) • Arrival points ($5,000 to $1 million) • Thematic gardens ($250,000 to $500,000) • Walks and trails ($250,000 to $500,000) • Woodlands and clearings ($150,000 to $250,000) C. RAY SMITH ALUMNI HALL (Over 250 opportunities available)
• Featured spaces ($1 million) • Arrival points ($150,000 to $750,000) • Work spaces ($25,000 to $500,000) • Outdoor spaces ($5,000 to $500,000)
C. Ray as I was picking up my cases for that night,” shared Gordon Crawford (MBA ’71). “He said, ‘You didn’t sign up to see the Capital Group. Call in sick, get a suit on, and I’ll try to have them wait to see you.’ The rest is history. I spent my entire career at Capital. I am eternally grateful to C. Ray for his dedication to me as his student and the way he mentored me to be the best I could be.” Darden is seeking additional support to unlock the matching funds from Sands and move forward with the renovation.
Contact Interim Vice President for Advancement Samantha Hartog at HartogS@darden.virginia.edu or +1-434-982-2151 to learn more about naming opportunities on Darden Grounds.
8
PILLARS
FALL 2020
FAC U LT Y S U P P O R T
The campaign empowers Darden to nurture the outstanding faculty of the future and develop insights for leaders facing real-world business challenges.
Above: Professors Elena Loutskina, Rich Evans and Yael Grushka-Cockayne were named as the inaugural chairs for three new endowed professorships.
N EW E N D O W E D FA C U LT Y C H A I R S A WA RD E D F O R F I R ST T I M E
BY JAY HODGKINS
T
remendous donor support for faculty since the start of Darden’s Powered by Purpose campaign yielded new milestones to start the 2020–21 academic year: Three new endowed faculty chairs were awarded for the first time to Darden professors. • Professor Richard Evans, who teaches in the Finance area, was named to the Donald McLean Wilkinson Research Chair in Business Administration. • Professor Yael Grushka-Cockayne, who teaches in the Quantitative Analysis area, was named to the Altec Styslinger Foundation Bicentennial Chair in Business Administration. • Professor Elena Loutskina, who teaches in the Finance area, was named to the Peter M. Grant II Bicentennial Foundation Chair in Business Administration. In recent years, four additional professorships created since the campaign began in 2013 were awarded, including Professor Mary Margaret Frank as the inaugural Samuel A. Lewis Sr. Faculty Fellow, Professor Morela Hernandez as the inaugural Donald and Lauren Morel Emerging Scholar of Business Administration, Professor Pedro
Continued on Page 10
FALL 2020
PILLARS
9
In M emor ia m Matos as the inaugural John G. Macfarlane Family Chair in Business Administration and Professor Bobby Parmar as the inaugural Shannon Smith Emerging Scholar in Business. Since the start of the campaign, Darden supporters have made pledges to create 23 new professorships. As pledges to fund professorships are fulfilled, Darden is able to award the endowed faculty chairs. In addition to naming three inaugural chairs, Darden awarded several other long-standing chairs to start the new year. • Professor Peter Debaere, who teaches in the Global Economies and Markets area, was named to the E. Thayer Bigelow Research Chair in Business Administration. • Professor Jim Detert, who teaches in the Leadership and Organizational Behavior area, was named the John L. Colley Jr. Professor of Business Administration. • Professor Shane Dikolli, who teaches in the Accounting area, was named to the Bank of America Research Chair in Business Administration. • Professor Mark Haskins, who teaches in the Accounting area, was named the Landmark Communications Professor of Business Administration. • Professor Doug Thomas, who teaches in the Technology and Operations Management area, was named the Henry E. McWane Professor of Business Administration. For more information on professorships, contact Interim Vice President for Advancement Samantha Hartog at HartogS@darden.virginia. edu or +1-434-982-2151.
U N M AT C H E D L E G A C Y: P RO F ES S O R JOHN COLLE Y BY DAVE HENDRICK
Darden lost one of its most influential and legendary figures, Professor John Colley,
who was well known to generations of students and alumni for his enduring devotion to the UVA and Darden communities, when he died at his home in Charlottesville on 15 July. Colley, who came to Darden in 1967, was a pioneer in both industry and academia. He formulated the influential concept of “job shop scheduling” at Hughes Aircraft — helping to ensure tasks were accurately aligned with resources — and played a key role in helping to grow the Darden School to its current place among the world’s topranked business schools. Along the way, he taught and befriended thousands of Darden students, forming relationships that endured long after graduation. “John Colley Colley received countless accolades at Darden and modeled the love UVA through the years. He was notably elected a graduation faculty marshal by Darden classes in five different for and dedication decades, and his name resonates across Grounds today to alumni that we through both the endowed John L. Colley Jr. Professorship of Business Administration — currently held by now hold as the Darden Professor Jim Detert — and the John L. Colley standard at Darden. Jr. Darden Jefferson Fellowship — which covers the cost of attendance for an outstanding student — among We miss him dearly other avenues. Other legacies established in his honor but will honor his include the Colley Raven Scholarships and the John legacy through our Colley Award, which allows Darden faculty to participate in UVA’s Mead Program each year. commitment to the All told, members of the Darden and UVA communidynamic Darden ties have contributed over $10 million in Colley’s name. He was the first Darden faculty member to receive network.” the Thomas Jefferson Award, UVA’s highest honor, — Michael Woodfolk given to members of the University community who (TEP ’05) have exemplified the principles and ideals of Jefferson. He also received the University of Virginia Alumni Association’s Distinguished Professor Award, Darden’s Outstanding Faculty Award, the Dean’s Award for Excellence in Teaching Innovation, the Raven Society’s Raven Award, the IMP Society’s Faculty Award, the Z Society’s Distinguished Faculty Award and the Society of the Purple Shadows Gordon F. Rainey Jr. Award for Vigilance to the Student Experience, among many others. He was a member of the Raven Society and the Seven Society. As Colley’s obituary stated, “The two great loves of Mr. Colley’s life were family and the University of Virginia.” If you are interested in making a donation in memory of John Colley, contact Interim Vice President for Advancement Samantha Hartog at HartogS@darden.virginia.edu or +1-434-982-2151.
10
PILLARS
FALL 2020
A LU M N I P O W E R MA YO CEN TER RE A L ESTAT E O F F E RI N G S BY SALLY PARKER
A lot of students haven’t been exposed to real estate through their families or as undergrads. By having more class offerings, we may invite a broader diversity of students — male and female, different ethnic and racial backgrounds.” — Scott Adams (MBA ’92)
W
ith a gift of $100,000, three alumni who have built successful careers in commercial real estate have started a fund to help Darden students with similar aspirations. Scott Adams (MBA ’92), Tom Robinson (MBA ’73) and Anthony Smith (MBA ’87), partners in the Colliers International office in Norfolk, Virginia, made the collective gift to expand real estate education at Darden. They hope fellow alumni with interest in real estate will join them. Fund goals include hiring a full-time faculty member and more professors of practice; peppering real estate cases across the curriculum in marketing, finance and other courses; cross-listing courses with other UVA schools; and capitalizing on Darden’s extensive global network with international treks. The new gift builds on growing momentum in the real estate space for Darden. In 2019, David Walentas (MBA ’64) and his late wife, Jane, pledged to fund the new Walentas Professorship in Real Estate at the Darden School as part of a $100 million gift to the Jefferson Scholars Foundation.
OPENING DOORS “This initiative is going to be huge because it legitimizes what Darden students are capable of accomplishing in the real estate industry,” says Chris Moore (Class of 2021), president of Darden’s Real Estate Club. Darden’s Richard A. Mayo Center for Asset Management started the process last year by bringing the School’s real estate activities under its umbrella. Alternative assets, including real estate, are garnering more attention from investors, “and students are increasingly interested in pursuing careers in alternative investments,” says Rodney Sullivan, the center’s director.
The Real Estate Club is the hub for some 40 students exploring real estate careers. For years, members have paid their way for case competitions, treks and training in Argus, the industry’s standard financial-modeling software. Last year, the Mayo Center started covering these costs, creating a way in for more students to get involved. Darden students consistently place among the top teams at case competitions. “The ability to support them in attending and preparing for these case competitions is important,” Smith says. Smith teaches Anthony Smith (MBA ’87) Darden’s real estate course, “Introduction to Real Estate Finance and Development.” Beginning in the spring, he will teach a second course, “Hot Topics in Commercial Real Estate.”
PATHWAYS FOR DIVERSITY Building the fund would mean opening the door wider to opportunities that many students may not have considered. “A lot of students haven’t been exposed to real estate through their families or as undergrads,” Adams says. “By having more class offerings, we may invite a broader diversity of students — male and female, different ethnic and racial backgrounds. Potential donors may look at it as a talent pipeline opportunity for their own businesses.” While philanthropy will fuel the new fund, alumni can contribute in other ways — sharing lessons learned or becoming a mentor in their niche, for example. “We’re looking for ways to take real estate to the next level at Darden,” Smith says.
FALL 2020
PILLARS
11
SCHOLARSHIPS
Campaign support creates scholarships and an unmatched student experience that sparks a virtuous circle in which top student talent draws top faculty, top rankings and top resources.
L E G A C I ES D E F I N E D : PL ANNED GIVIN G SPURS N EW SCHOL ARSHIPS BY KRISTEN KEESEE
As Darden makes great strides in its efforts to be both affordable and accessible to deserving students, donors are paving the way for new scholarships through planned giving. Over the past two years, 11 donors have made planned gifts that will have a combined total impact of more than $7 million in support of student scholarships. “Scholarships are one of the most effective levers to recruit top talent,” said Dean Scott Beardsley. “I am grateful for these donors who have chosen to leave a legacy that supports the next generation of business leaders forged with Darden values.” Here, find four stories of how donors are making an impact through planned giving.
1. NEW SUPPORT FOR VETERANS
W
hen John Strangfeld (MBA ’77) established a scholarship fund for military students at Darden in 2005, his passion was clear: supporting veterans as they transition from the military and into civilian professional careers. “Our nation’s veterans are particularly well-suited to transition from successful leadership roles in the military to successful leadership roles in the business world,” the former chairman and CEO of Prudential Financial Inc. said. “Darden benefits tremendously from the talent that these high-caliber leaders bring to the classroom.” Since its establishment, later bolstered by additional gifts from Strangfeld to grow the fund, the scholarship endowment has funded 34 scholarships to military students pursing their MBAs at Darden. A recent planned gift from Strangfeld will ensure that the School has resources to support this vital community for many years to come.
12
PILLARS
FALL 2020
2. ENDOWED SCHOLARSHIP FOR WOMEN AT DARDEN
A
s a recipient of the scholarship funded by Strangfeld and a Genovese Fellow during his time at Darden, Gregg Brooks’ (MBA ’09) own experience as a scholarship recipient instilled in him the value of paying it forward. Since that time, Brooks and his wife, Chandra, wanted to pave the way to ensure others deserving of a seat at Darden had the support they needed to make that reality come true. Their $1.3 million planned gift will establish the Gregg and Chandra Brooks Scholarship Fund and create a new scholarship for women who demonstrate financial need. “We have both been blessed to have benefited from scholarships and grants to support our undergraduate and graduate educations,” said Brooks. “By setting up our gifts through our estate plans, we can ensure that our work now, powered by our experience at Darden, will support generations of scholars long into the future.”
3. BACKING THE ENTREPRENEURIAL SPIRIT
K
ent Smith (MBA ’84) looks back on his time at Darden fondly, remembering each faculty member who mentored him in and out of the classroom during his two years on Grounds. The affinity that he and his wife, Mary, share for their Darden experience cemented their desire to give back to the School. The Smiths made a bequest for $1 million to establish the T. Kent and Mary L. Smith Scholarship, which will support students coming to Darden with an interest in entrepreneurship. “Over the course of my career, it has become clear to me that if you don’t have an entrepreneurial mindset, you’re not going to succeed in a corporation,” said Smith. “I hope that my legacy at Darden will help students who will spur innovation within critical industries.”
DA RD E N ’ S F I R ST M C G O WA N F E L LO W S F O L LO W PAT H S O F P U RP O S E BY KRISTEN KEESEE
4. PROFESSOR DEFINES HIS LEGACY
F
or 23 years, Professor Emeritus Robert Spekman dedicated himself to inspiring Darden students in and out of the classroom. But today, Spekman is defining his impact in a new way. “I am still in touch with students who were part of my first class, and the fact that they remember the material from my first semester at Darden is my legacy,” said Spekman. “Planned giving is another vehicle for me to give back to the School.” Spekman and his wife, Susan, recently made a planned gift of $250,000 to create the Robert E. Spekman and Susan K. Snyder Scholarship. This new scholarship will provide need-based support to deserving students. Through these gifts, Gregg and Chandra Brooks, John Strangfeld, Robert Spekman and Susan Snyder, and Kent and Mary Smith have become members of the Cornerstone Society, which recognizes alumni, parents, faculty and friends who have made planned gifts to any school or unit at the University of Virginia.
For more information on making a planned gift, contact Corley Raileanu at RaileanuC@darden.virginia.edu or +1-434-243-4825.
Now in the second year of their partnership, the William G. McGowan Charitable Fund and Darden are forging new opportunities to develop a community of responsible business leaders through the McGowan Fellows Program. Each year, rising Second Years compete via a competitive application process to earn a prestigious McGowan Fellowship and receive a full-tuition scholarship, in addition to a host of experiential leadership opportunities with fellows from nine other top business schools, including the Wharton School of the University of Pennsylvania, Northwestern’s Kellogg School of Management and the MIT Sloan School of Management. Kelly Connors (MBA ’20) was the inaugural recipient of the fellowship at Darden. Before arriving at the School, Connors served in the Peace Corps as a small business development volunteer in the Dominican Republic and also gained experience working for Deloitte on international projects in Jamaica and Paraguay as a consultant for ministries of finance. “The mission of the McGowan Fellows Program to support and develop ethical leaders resonated with me and fits with my personal ethos,” said Connors. “Going into my Second Year at Darden, I was excited to be part of a cohort of individuals from peer schools who share these values.” Connors and her cohort created a plan for a media campaign focused on
youth homelessness in Chicago. She now looks forward to taking lessons learned from the project as she transitions to Deloitte’s commercial sector for human-centered design and innovation in health care. Alexander Goot (Class of 2021) is the newest McGowan Fellow at Darden. With 10 years of experience in sports production working for organizations such as ESPN and Fox Sports, Goot, who received the William Michael Shermet Award and C. Stewart Sheppard Distinguished Service Award this fall, is using his time at Darden to deepen his knowledge around the intersection of media and technology. “As I started to think about the next step in my career, I was interested in making a pivot to the leadership and strategy side of media and entertainment,” said Goot. Goot, who just completed his summer internship with Dell Technologies, is excited to get to know the other fellows in his class and connect with the program’s alumni. “Several McGowan alumni who work in the tech space have already reached out to build a connection,” Goot said. “It is humbling to be selected as this year’s recipient at Darden, and I am so thankful for the opportunity to be part of the McGowan community.” For more information on foundation support for Darden, contact Interim Vice President for Advancement Samantha Hartog at HartogS@darden.virginia.edu or +1-434-982-2151.
FALL 2020
PILLARS
13
SCHOLARSHIPS
Tre Tennyson III (Class of 2021)
‘ I WA N T E D T O B E I N A P O S I T I O N O F S E RV I C E T O G RE AT E R S O C I ET Y ’ BY DAVE HENDRICK
F
ranklin “Tre” Tennyson III (Class of 2021) came to the Darden School with a lengthy, global resume, an enthusiasm for leadership roles and a desire to eventually transition to elected office. His credentials made him a fitting recipient of one of Darden’s most prestigious awards: the Lemuel E. Lewis Bicentennial Award for Global Leadership, a scholarship award made possible by a philanthropic gift from Lem Lewis (MBA ’72), a member of the Darden School Foundation Board of Trustees and a Principal Donor to the School.
14
PILLARS
FALL 2020
A University of Virginia undergraduate, Tennyson taught fifth grade in Atlanta with Teach for America before moving to Shenzhen, China, for nearly four years, where he both taught and worked in business development for a private school group. He then attended Harvard University for a master’s in education policy and management before setting his sights on Darden, a school he said he knew well from a cappella performances across Grounds in his undergraduate days. “I had a background in education, but I knew if I wanted to be in a position of service to greater society, I would also need to have a robust understanding of markets, the economy, as well as money and how it moves,” said Tennyson, a Richmond, Virginia, native. As he has done throughout his academic and professional career, Tennyson also pursued leadership opportunities outside of the classroom at Darden, and he currently serves as chair of the UVA Graduate and Professional Council and as one of the student representatives on Darden’s Racial Equity and Inclusion Working Group, among other roles. “I’m a UVA student through and through. When you come to UVA, the prin“Your agency, ciples and importance of student self-govyour ideas and ernance are made clear from Day One, and in that I see this idea that your agency, your your labor will ideas and your labor will directly result in directly result in the environment you have around you,” said Tennyson, who also served on the the environment pan-University committee considering the you have around safe reopening of Grounds in fall. “It’s wonyou.” derful to help make things happen.” In his application for the competitive — Tre Tennyson III global leadership award, which is ultimate(Class of 2021) ly determined by a group of Darden students and faculty, Tennyson said he spoke about his personal ambition and methods for bringing people together toward a common goal, but also his years spent in China, and what he learned from spending nearly a month wrongfully imprisoned as a result of an extortion scheme carried out by local police. “That was an extreme lesson about what power means, especially in a situation where a group of people have full control over what happens to me,” said Tennyson. Tennyson spent the summer interning with JPMorgan Chase — remotely, due to the coronavirus — an experience Tennyson called “excellent.” In fact, toward the end of his internship, Tennyson was asked to moderate a companywide discussion with the CEO of J.P. Morgan Asset and Wealth Management Mary Erdoes. “You can’t ask for better than that,” said Tennyson.
WHEN PANDEMIC DISRUP TED C AREERS, DARDEN IMPACT IN TERNSHIPS OFFERED MEANIN GF UL WORK
BY DAVE HENDRICK
A
s the coronavirus pandemic upended life for Darden and the broader world last spring, it also dramatically reshaped the hiring landscape for internships and full-time job opportunities. New graduates saw start dates delayed or, in some cases, offers rescinded. Most internships were moved to a virtual, truncated format. To step in and help fill the new gap created by the pandemic, the School rallied to launch the Darden Impact Internships program. The novel idea came together over the span of a few weeks through efforts led by Darden faculty and the Career Center, and made possible with funding from the Darden Annual Fund. In total, 77 Darden students from across the Darden community — Executive MBAs, Master of Science in business analytics students, rising Second Year full-time MBA students and new graduates — took part in a paid Impact Internship. The internships offered students a choice between the Enterprise Consulting Trek, in which students tackled projects advancing Darden strategic priorities, and the Faculty Case Writing and Research Trek, in which interns worked closely with Darden faculty on researching and writing cases. Those participating in the Enterprise Consulting Trek worked on projects including transportation solutions; diversity, equity and inclusion efforts; alumni engagement; and operations in the era of COVID-19. In most cases, prominent
Emma Finkelstein (Class of 2021)
Darden alumni with executive experience helped mentor students along the way. Emma Finkelstein (Class of 2021), who came to Darden with a broad public policy background and is pursuing a dual Master of Public Policy with the Frank Batten School of Leadership and Public Policy, threw herself into fall recruiting as a First Year and was looking forward to a summer spent with a major consulting firm. Then, the pandemic struck and her existing internship was dramatically truncated. In short order, Finkelstein pivoted from a traditional internship to a project sponsored by Global Chief Diversity Officer Martin Davidson and Assistant Dean for Global Diversity, Equity and Inclusion Christie Julien to devise measurement and metrics around diversity, equity and inclusion initiatives, benchmark Darden against peer institutions, and explore opportunities in the space. “Instead of focusing on benchmarking Darden’s compositional diversity to the headcount of peer institutions, we reframed it to consider what a diverse, equitable and inclusive environment would look like in higher education, in business
“I was scrambling, and Darden really came out to support its students. It’s also given me the opportunity to plug in and contribute to the Darden community in new and interesting ways.” — Emma Finkelstein (Class of 2021)
and in the world,” Finkelstein said. “And then zooming in from there, what’s in the realm of possibility and feasibility for Darden.” Finkelstein said the experience burnished her emerging consulting capabilities while helping her think critically about how to infuse equity and inclusion into the work she does and how she plans to lead. Finkelstein said she still hopes to go into consulting after Darden and treated the project like a consulting engagement, with Davidson and Julien as her clients. “All of those core project management and client relationship skills that consultants need, I definitely still put those to work,” said Finkelstein, who will continue working on the project throughout the year. “It was great to have this option.”
FALL 2020
PILLARS
15
P. O. Box 7726 Charlottesville, Virginia 22906-7726 USA
The Darden Campaign in Support of Honor the Future, the Campaign for the University of Virginia
Pillars is published by the Darden School Foundation, a nonprofit organization that supports the Darden School by promoting philanthropic support from alumni, friends and corporations; managing endowment funds for the School’s exclusive benefit; and operating Darden’s top-ranked Executive Education program, the Inn at Darden and Abbott Center hospitality. Questions, comments and address changes should be directed to: advancement@darden.virginia.edu or Darden School Foundation Office of Advancement P.O. Box 7726 Charlottesville, Virginia 22906-7726 USA
Def ine Your Legacy IMPACT FUTURE GENERATIONS Help Darden fulfill its mission to improve the world by inspiring responsible leaders through unparalleled transformational learning experiences. Join the many supporters who leave gifts to Darden in their wills or trusts. Define your legacy by its impact on future generations.
Interim Vice President for Advancement: Samantha Hartog Chief Marketing and Communications Officer: Juliet K. Daum Editors: Jay Hodgkins, Kristen Keesee Writers: Dave Hendrick, Sally Parker Copy Editor: Camille Weaver Smith Design and Art Direction: Susan Wormington Photography: Tom Cogill, Stephanie Gross, Sam Levitan, Andrew Shurtleff, Susan Wormington
For more information on making a planned gift, contact Corley Raileanu at RaileanuC@darden.virginia.edu or +1-434-243-4825..