Shareholder Alumni Magazine Fall 2014: Women Making Their Mark in Business

shareholder FA L L 2014

JOHN COOK SCHOOL OF BUSINESS ALUMNI MAGAZINE / SAINT LOUIS UNIVERSIT Y

MAKING THEIR MARK

IN BUSINESS

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F A C E S O F I N N O VAT I O N

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BLAZING THE TRAIL

{From the dean}

I N 1 9 7 2 , W H E N A N N E G AG E N E A R N E D H E R U N D E R G R A D U AT E B U S I N E S S D E G R E E F R O M S L U , S H E WA S O N E O F O N LY A H A N D F U L O F F E M A L E STUDENTS ENROLLED IN THE BUSINESS SCHOOL.

Though the University Trustee doesn’t consider herself a trailblazer, Anne’s four-decade banking career and tireless community leadership serve as a clear model of business success.

We also highlight several alumnae who mentor, coach, support and invest in women business owners so they can increase their impact within the broader entrepreneurial ecosystem.

Today, the Cook School is home to hundreds of talented, ambitious female students who are eager to make their mark on the business world.

These efforts are contributing to an increasingly bright future for all of us, a sentiment that is echoed by Associate Professor Laurel Boone, J.D., whose Reflection article asserts that the times have, indeed, changed for the better.

And they are doing just that.

In this issue of Shareholder, we profile several SLU women who are actively contributing to the dynamic business landscape in St. Louis and beyond.

They include Lachlan Johnson, a sophomore whose entrepreneurial journey began when she was just 12 years old.

After scoring her first deal on the TV show “Shark Tank,” Lachlan’s family sold that business, and she’s on the verge of launching her next venture.

We also feature Krista Clement, a recent MBA graduate who created an innovative smartphone app that is equipping university athletic departments to track the community involvement of their student athletes.

A few steps further down the startup path, Ayla Annac is co-founder and CEO of InvivoSciences Inc., a company that is revolutionizing the development of new life-saving heart medications.

It is certainly an exciting time at the Cook School, with the appointment of Mark Higgins, Ph.D., as our new dean. He joins SLU from the University of Rhode Island, where he has served as dean of the business college since 2006 and a member of the faculty since 1988. You can read more about Dr. Higgins’ background and achievements in this issue.

It has been a privilege to serve as interim dean during the nationwide search for a successor to Dr. Harshman. Thank you for helping to make my experience so enjoyable and fulfilling.

And please join me in welcoming Dr. Higgins to SLU when he assumes his new role in January 2015.

Scott R. Safranski, Ph.D.

{Table of contents} SHAREHOLDER

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is published twice yearly for alumni and friends by Saint Louis University’s John Cook School of Business.

EDITOR Camilla Ferrario Hall

CONTRIBUTORS Karen Carpentier Ted Cox Jeanette Grider Tim Hayden Kate Flatley Jerry Katz, Ph.D.

WRITER Mike Plotnick

DESIGN AND ART DIRECTION Nicole Cook UNIVERSIT Y PRESIDENT FRED P. PESTELLO, PH.D., POSES FOR A PHOTO WITH A STUDENT FOLLOWING THE 2 014 NEW STUDENT CONVOCATION AND FA MILY WELCOME .

PHOTO CREDITS Dale Allen Nate Cowen Steve Dolan Matt Fitzpatrick

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PRINTING The Printing Source

PLEASE ADDRESS ALL MAIL TO: John Cook School of Business Shareholder Saint Louis University 3674 Lindell Blvd.

St. Louis, MO 63108 Email: ferrario@slu.edu Past issues of Shareholder can be found at slu.edu/x16732.xml

© 2014 Saint Louis University All rights reserved.

News and Notes

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Awards, accomplishments, news and upcoming events at the John Cook School of Business at Saint Louis University.

Alumni Events

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Breakfast with Santa, Cinderella at the Fox, Trivia Night

Matters of the Heart

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Ayla Annac (MBA ‘95) leads a biotechnology business that is supporting more effective treatments for heart disease.

Faces of Innovation

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A showcase of five SLU women who are actively shaping the entrepreneurial landscape.

Blazing the Trail

Q&A with University Trustee Anne Gagen (BSBA ‘72, MBA ‘76) about her career, lessons and legacy.

24 Reflection

Associate Professor of Management Laurel Pope, J.D., observes that times have changed for the better.

Reproduction in whole or in part without permission is prohibited.

FALL 2014 | 1

Notes NEWS AND

WELCOMING NEW DEAN MARK HIGGINS Following a national search, Mark Higgins, Ph.D., has been named the next dean of the Cook School, and will begin his tenure Jan. 1, 2015.

“Dr. Higgins brings more than a quarter century of experience as a highly respected scholar and innovative leader to his new role at Saint Louis University,” said M ARK HIG GINS, PH.D. University President Fred P. Pestello, Ph.D. “The fact that he was selected from an exceptionally strong field of candidates speaks to the outstanding national reputation of our business school.”

Higgins has been a member of the University of Rhode Island’s faculty since 1988 and was appointed dean of the business college in 2006. Under his watch, the college has launched new degree programs and majors, increased resources for faculty and enhanced student support services.

FRED PESTELLO, PH.D.

WELCOMING UNIVERSITY PRESIDENT FRED PESTELLO Fred P. Pestello, Ph.D., is the 33rd president of Saint Louis University.

The first permanent lay president in the University’s nearly 200-year history, Pestello officially began his tenure at SLU on July 1, 2014.

As Saint Louis University’s president and chief executive officer, Pestello leads one of the nation’s oldest, largest and most prestigious Catholic universities, with more than 13,500 students, 6,700 employees and a $1 billion endowment.

A Roman Catholic, Pestello is Jesuit educated and has spent the entirety of his 30-year career in Catholic higher education.

A dynamic leader known for moving the institutions he serves forward, he brings extensive leadership experience to his role at Saint Louis University.

Saint Louis University officially inaugurated Pestello as president during a ceremony on Friday, Oct. 3 in Chaifetz Arena. This was SLU’s first inauguration since 1987. In addition to the ceremony, an all-school Mass was celebrated on Thursday, Oct. 2 in St. Francis Xavier College Church. The entire SLU community was invited to attend.

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The search process was inclusive, with all members of the John Cook School of Business community having opportunities to meet with finalists and offer feedback to the committee.

For his part, Higgins said he is very excited about joining Saint Louis University as the dean.

“All the people I have met at SLU have been extremely friendly and welcoming,” Higgins said. “I look forward to working with the faculty and staff at the Cook School as well as others throughout the University and in the business community to enhance the reputation of both the business school and SLU. My wife Annie and I look forward to being part of the SLU community.”

Higgins succeeds Scott Safranski, Ph.D., who has served as interim dean since 2013. For more than 20 years, Safranski has served in a variety of administrative roles at the business school, including twice as associate dean, as well as chair of the Department of Management.

2014 RANKINGS U.S. News & World Report ranked the John Cook School of Business No. 79 on a list of the nation's leading undergraduate business programs, and our entrepreneurship (No. 13) and international business programs (No. 18) were ranked in the top 20.

The John Cook School of Business would like to thank Ellen Harshman, Ph.D., J.D., for her many years of service as dean. Harshman currently serves at the interim vice president of academic affairs, and recently announced that after completing 43 years of service at the University she will retire after this year Faculty members were asked to reflect on the impact she has had on the Cook School and the SLU community, and they share their thoughts below.

Harshman has served Saint Louis University in several leadership roles since 1972, including her current role as the interim vice president, academic affairs of Saint Louis University. Harshman served as dean of the John Cook School of Business from 2003 to 2014, and has had other administrative roles at the University including associate dean of the business school, director of the career planning and placement center, and assistant to the vice president for student development.

A highly respected professor, Harshman has earned numerous accolades and honors during her distinguished career. She is a recipient of the Thomas Knapp, S.J., Faculty Member of the Year Award and was selected as Woman of the Year by the Women’s Commission of Saint Louis University in 1981. Additionally, Harshman was recognized by the St. Louis Business Journal as one of the area’s Most Influential Business Women, and was selected by the publication six times in seven years as one of St. Louis’ Most Influential Leaders. In 2011, Harshman received the CORO Leadership Award.

“I have known Ellen since her arrival at SLU. Her many held positions and outstanding contributions are well documented. Case in point is her most recent job as the interim vice president, academic affairs. No one would have been better suited skill-wise or would have received the respect and confidence given her by the faculty of the University.

But above all, what Ellen most enjoyed was her time as dean of the John Cook School of Business. Her energy, enthusiasm, work ethic and pursuit of excellence were responsible for the school’s many accomplishments during her tenure and positioned us well for the future. Her leadership and interpersonal skills brought faculty, staff, students and alumni together to achieve and maintain accreditation and earn recognition for outstanding programs both locally and nationally. Her dedication to the school, University and community is unwavering. Ellen truly was an outstanding dean who excelled in all aspects of her job. On top of that, she is an extraordinary person, a true professional and a terrific colleague who served as a superior role model for all of us.”

- PHILIP STOEBERL , PH.D., M ARY LOUISE MURRAY ENDOWED PROFES SOR IN M ANAGEMENT

ELLEN HARSHM AN, PH.D., J.D.

THANK YOU TO

ELLEN HARSHMAN

“Ellen has been an inspiring mentor for me – first from afar as a junior faculty member to today as department chair – and she will be missed by many. With her leadership style, she has shown a graceful ability to balance the goals and demands of faculty and administration for the betterment of the school and university while keeping focus on the best interests of students.”

- HEATHER BEDNAREK, PH.D., AS SOCIATE PROFES SOR AND DEPARTMENT CHAIR IN ECONOMIC S

“Ellen is one of the most engaging people I know, as evidenced by the fact that I remember the very first time I met her during my interview years ago (and she was running off to her son’s school with a portfolio of his art). She is good at everything (teaching, research, administration) that she puts her mind to and she puts her mind to more things than anyone I know! She genuinely loves and cares about the students she teaches and the people she works with, and bleeds Billiken Blue!”

- SCOT T SAFRANSKI, PH.D., INTERIM DEAN AND AS SOCIATE PROFES SOR IN M ANAGEMENT

FALL 2014 | 3

LEF T TO RIGHT: RICHARD THORNBERRY, KRISTEN DONOVAN, CAROLINE STEGM AN, DEBRA PIKE , REBECCA RAY, LAWRENCE COLLET T

EXCELLENCE AWARDS The annual Excellence Awards recognized the following alumni, faculty and corporate partner for their commitment to the Cook School and the community: • Joseph E. Boland, S.J., Outstanding Alumni Award: Lawrence Collett • Joseph L. Davis, S.J., Alumni Merit Award: Richard Thornberry • Thomas M. Knapp, S.J., Distinguished Faculty Member Award: Debra Pike • Distinguished Young Alumni Award: Caroline Stegman • John Basler Outstanding Alumni Board Service Award: Kristen Donovan • Distinguished Corporate Partner Award: Allsup Inc.

OPERATIONS AND ITM DEPARTMENT HOSTS INDUSTRY EXPERTS Information systems experts from across the U.S. and Canada assembled in May at the John Cook School of Business to share research findings and compare teaching techniques related to information systems analysis and design. Saint Louis University sponsored and hosted this event organized by Palash Bera, Ph.D., and Fred Niederman, Ph.D., of the Cook School’s Operations and information technology management department.

Attendees came from as far away as University of British Columbia and University of Newfoundland. Additionally, there were local researchers from Southern Illinois University Edwardsville, the Missouri University of Science and Technology (Rolla) and Vanderbilt University in Nashville.

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ENTREPRENEURIAL HALL OF FAME AWARDS The Center for Entrepreneurship inducted four members to its Hall of Fame for their distinguished careers and personification of the center’s motto “Do Good, Do Well.” The new members are: • Social Entrepreneurship: Gil Bickel, Chairman, Arch Angels • Corporate Entrepreneurship: Steven Frank, Vice Chairman, Plancorp • Large Independent Entrepreneurship: Chris Sommers, Founder and Owner, Pi Pizzeria • Small Independent Entrepreneurship: Peter Spanos, CEO, Vetta Sports In addition to the induction ceremony, the center celebrated the next generation of SLU entrepreneurs. During the event, undergraduate students who were winners of the SLU “Real” Elevator Pitch competition and the SLU Idea to Product competition were introduced. Additionally, a $5,000 award was presented to Rachael Pace, founder of Water for Panama and a member of Diamond in the Rough, the most exclusive club on campus for student entrepreneurs that run businesses.

WELCOMING NEW COOK SCHOOL FACULTY The John Cook School of Business has welcomed five new faculty members:

ANDREW M. KAIKATI, PH.D.

OLGUN FUAT SAHIN, PH.D.

ASSISTANT PROFESSOR OF MARKETING

ASSISTANT PROFESSOR OF FINANCE

Kaikati joined the marketing faculty at the Cook School in 2013 following three years as an assistant professor of marketing at the University of Georgia’s Terry College of Business.

He holds a doctorate from the University of Minnesota, an MBA from Washington University in St. Louis, and an honors Bachelor of Science in marketing from Saint Louis University.

Kaikati also worked for several years in management consulting and brand management before pursuing a career in academia. His research, which focuses on consumer behavior issues relating to social influence, prosocial behaviors and branding, is published in the Journal of Consumer Research, Journal of Marketing Research, Journal of Personality and Social Psychology, International Journal of Research in Marketing, and California Management Review, among others.

JASE RAMSEY, PH.D. ASSISTANT PROFESSOR OF INTERNATIONAL BUSINESS Ramsey joins the Cook School as an assistant professor of international business. He has published and presented papers in the areas of international strategy, expatriate management, absenteeism, methods, and international travel performance. Before joining Saint Louis University, he was a professor of international management and coordinator of the International Business Research Center at Fundação Dom Cabral in Brazil. He also was an assistant professor of marketing and international business at the University of Alabama. He is a member of the Academy of Management, Academy of International Business, and the Southern Management Association.

Ramsey has worked as a senior business analyst for Payless ShoeSource and Disney Corporation, served as president of Previal Online and owned a number of small businesses.

Sahin is an assistant professor of finance at Saint Louis University.

He earned his Bachelor of Science in public finance from Uludag University in Bursa, Turkey. He later completed his MBA at Stuart School of Business, Illinois Institute of Technology in Chicago.

He earned his doctorate in finance from the John Cook School of Business. Prior to joining Saint Louis University, he was a faculty member at Minnesota State University Moorhead and was a visiting professor at Saint Louis University and Pacific Lutheran University. His research has appeared in the Journal of Accounting and Finance, International Journal of Monetary Economics and Finance, Journal of Real Estate Research and Advances in Quantitative Analysis of Finance and Accounting. His primary research interests include corporate and real estate finance.

DAVID SANDERS INSTRUCTOR OF ECONOMICS Sanders joins the Cook School as an instructor in economics. He has served as an adjunct faculty member for Saint Louis University since 2013. Prior to joining SLU, he was an adjunct faculty member at University of Missouri-St. Louis. He has received several teaching awards, including the 2012 Phi Theta Kappa Glaux Award at the Meramec campus of St. Louis Community College, which is presented for dedication in shaping the minds of the future and mentorship of students in Phi Theta Kappa. Sanders received both his Master of Arts in economics and Bachelor of Science from the University of Missouri-St. Louis.

CHRISTOPHER H. THOMAS, PH.D. ASSISTANT PROFESSOR OF MANAGEMENT Thomas received his doctorate in organizational behavior and human resources from the University of Georgia. He also has a Master of Public Administration with a human resources concentration from North Carolina State University. Prior to joining the faculty of Saint Louis University, he served on the school of business faculties at Northern Illinois University and the University of Mississippi.

His primary research interests include career development issues such as mentoring and leadership development programs, as well as the role of personality and motivation at work.

His research has been published in such outlets as the Journal of Management, Personnel Psychology, Journal of Vocational Behavior, and Human Resource Management.

FALL 2014 | 5

JOHN COOK SCHOOL OF BUSINESS FALL/WINTER CALENDAR THURSDAY, NOVEMBER 6

WEDNE SDAY, NOVEMBER 19

7: 3 0 A .M. - DE AN’ S BREAKFAST

4 P.M . - 7:3 0 P. M . - STA RT U P CONNEC T I O N

J OH N AN D LUCY COO K H A LL , A- B AUDITORIUM

Featuring Major General Susan A. Davidson, Commanding General, Surface Deployment and Distribution Command. For more information, visit deansbreakfast.slu.edu.

WEDNE SDAY, NOVEMBER 12 5: 3 0 P.M. - ECONOMIC P OL I CY LEC T URE SE RIE S PRE S ENT ED BY T HE S HOW-ME INSTITUTE J OH N AN D LUCY COO K H A LL , A- B AUDITORIUM

Featuring Russell Roberts, the John and Jean De Nault Research Fellow at Stanford University’s Hoover Institution, host of EconTalk and author.

MONDAY, NOVEMBER 17 9 A .M. - 2:3 0 P.M. - TREP START DAY BU S CH ST UDEN T CEN TE R

TrepStart Day focuses on giving high school students various perspectives on entrepreneurship while teaching key entrepreneurial concepts in a hands-on setting with special keynote speakers.

BU S C H ST U D E N T C E N T E R - HA R L E N E & M A RV IN WO OL BA L L R OOM

StartUp Connection ‘14 is the premier venue for meeting the top new startups on the St. Louis scene.

1 1 A .M . - 2 01 4 A N N UA L DI ST I N GU I S H E D G U E ST S P E A K E R S E R I E S

The Boeing Institute of International Business invites you to attend the following upcoming events. For more information and to register, visit biib.slu.edu or contact biib@slu.edu.

XAV IE R COL L EG E C HU R C H BA L L R O OM

FRIDAY, NOVEMBER 21

THURSDAY, NOVEMBER 20

Chris Caplice, Ph.D., the executive director, Center for Transportation and Logistics at Massachusetts Institute of Technology (MIT) For more information and to register for the event, contact: cscms@slu.edu or 314-977-3617.

8 A.M. - EMERSON I N T E R N AT I O N A L BUS IN E SS CO N F E R E N CE B U S C H ST U D E N T C E NT E R

WEDNE SDAY, FEBRUARY 25 4 P.M . - A M E R E N S USTA I N A B I L I T Y S P EAKER S S E R I E S JO H N A N D LU CY CO OK HA L L , A-B AU DI TOR I UM

Featuring Tim Gaidis, LEED-AP BD&C, Sustainable Design Leader at HOK St Louis.

FOR UPDATES ON EVENTS P L E A S E V IS IT: BUSIN E SS . SLU.EDU/ EVEN TS

SEUNG KIM RECEIVES FIRST ST. LOUIS INTERNATIONAL AMBASSADOR AWARD Seung Kim, Ph.D., director of the Boeing Institute of International Business, was presented with the first St. Louis International Ambassador Award by the St. Louis Regional International Partnership at its 2014 St. Louis International Trade Night Dinner in May. This award was created in recognition of the 250th birthday of the city of St. Louis. Kim was selected as the first honoree in recognition of his years of dedicated service developing global business education programs, professional events and opportunities for Saint Louis University, St. Louis and the Midwest region.

SEUNG H. KIM, PH.D.,(CENTER), DIRECTOR OF THE BOEING INSTITUTE OF INTERNATIONAL BUSINES S​, RECEIVED​ ​T HE FIRST ST. LOUIS INTERNATIONAL A MBAS SADOR AWARD. HE IS​ ​J OINED​ ​B Y GUILLERMO RODRIGUEZ (LEF T ), DIRECTOR OF INTERNATIONAL PROJECTS/ STUDY ABROAD AT WEB STER​ ​U NIVERSIT Y, AND MIKE BURKE​ ​( RIGHT ), DIRECTOR OF THE MIS SOURI DISTRICT EXPORT​ ​C OUNCIL .

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2014 COOK SCHOOL FACULTY AND STAFF RETIREMENTS The John Cook School of Business is recognizing three faculty members and one staff member on the occasion of their retirement. They bring a combined 163 years of service and commitment to the Cook School and beyond. We sincerely thank them for their years of service and invite you to share your words of congratulations. Please email the editor at ferrario@slu.edu, and we will send along your message.

JOHN KEITHLEY, PH.D. PROFESSOR OF ACCOUNTING YEARS OF SERVICE

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John Keithley, Ph.D., has been a member of the Saint Louis University faculty since 1968, and received more than 15 teaching awards during his career including the Outstanding Teacher in the John Cook School of Business, the Burlington Northern Teaching Award (a University-wide Award for outstanding and innovative teaching), the Outstanding Teaching Award in accounting and the Outstanding Teaching Award in the executive master’s program in international business.

Keithley served as dean of the School of Business and Administration from 1981 to 1985 and was director of the Emerson Electric Center for Business Ethics from 1990 to 1993.

STEPHEN MILLER, PH.D. PROFESSOR OF MARKETING AND INTERNATIONAL BUSINESS YEARS OF SERVICE

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Stephen Miller, Ph.D., has served Saint Louis University for 40 years as a professor with a specialization in marketing and organizational strategy and as the director of executive education.

His prior administrative service to the John Cook School of Business has been as assistant dean, associate dean and director of graduate studies, chairperson of the department of marketing, director of doctoral programs, interim chairperson of the department of decision sciences and management information systems, and associate dean for academic programs and administration.

In addition, he has had a record of academic-refereed articles, books, conference presentations and additional service as a consultant to multiple national and local organizations.

NEIL SEITZ, PH.D. PROFESSOR OF FINANCE YEARS OF SERVICE

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Neil Seitz, Ph.D., has been a faculty member with the John Cook School of Business since 1975 and served as the dean from 1993 to 2002. During his 40 years of teaching at SLU, he was the dean when Cook Hall was built, started the full-time MBA and supply chain management programs, and received every SLU teaching award for which he was eligible, including the MBA Outstanding Teacher award, the Nancy McNeir Ring Award and the Fr. Knapp Outstanding Faculty Award. In addition to many published books, he also consulted with and contributed to executive development programs for companies spanning the United States, Europe, South America, Australia and Asia.

JEANENE KREEVICH BUSINESS MANAGER YEARS OF SERVICE

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Jeanene Kreevich has served the Cook School for 37 years in various roles supporting the dean’s office. Most recently she served as the Cook School business manager. Kreevich graduated from Southern Illinois University Edwardsville with a degree in education.

FALL 2014 | 7

SLU ESTABLISHES PARTNERSHIP WITH JESUIT PARISH IN BELIZE

CENTER FOR SUPPLY CHAIN MANAGEMENT STUDIES FALL COURSES

Saint Louis University is beginning a partnership to support St. Martin de Porres Parish in Belize City. The efforts span campus-wide, and the John Cook School of Business will be supporting the initiative in a variety of ways. A student service trip is planned with our Service Leadership Program in January, during which students will provide microloan education. Planning is underway for opportunities to collaborate between our Center for Entrepreneurship and the Center for Community Resource Development (CCRD) in Belize City.

Jack Krings, a member of the Cook School’s Executive Advisory Board, is one of the volunteers working on Project SLU-Belize, which will provide recommendations on the structure for the project, which is called Operation Toucan.

Our Center for Supply Chain Management Studies is offering the following professional development courses this fall. The courses are led by Cook School faculty and industry experts, and are designed to hone the skills of supply chain management professionals.

In May, associate professor Bonnie Wilson, Ph.D., traveled to Belize City with a group of University representatives to begin researching and reporting on opportunities for the two campuses to work together.

The University also hosted a SLU-Belize Project Summit in August.

Representatives from Belize City, St. John’s College, St. Martin de Porres Parish, SLU faculty and staff, and members from the St. Louis community participated in a series of planning meetings and workshops. The Cook School hosted the closing sessions of the summit.

For more information and to register, visit cscms.slu.edu or contact cscms@slu.edu.

OCTOBER 10 R E DU CI N G S U P P LY CH A I N VA R I A B I L I T Y

OCTOBER 23 -24 ST RAT EGI C S O U R CI N G A N D S U P P L I E R R E L AT I O N S H I P M A N AGE ME N T

NOVEMBER 20-21 M A N AGI N G T RA N S P O RTAT I O N & WA R EH O USIN G

NOVEMBER 3 R I S K MA N AG E M E N T (ON L I N E CO U R S E )

For more information about the SLU-Belize Project, visit slu.edu/service/engage/belize.

SUMMER

SUMMER AT SLU

1 The John Cook School of Business welcomed more than 100 high school students from around the country this summer during our annual Summer At SLU programs.

Enrollment for summer 2015 begins in March, visit summer.slu.edu for more details.

1. Participants in the Sports Business Academy tour the locker room and facilities of the St. Louis Rams football team. This year, 8 | BUSINESS.SLU.EDU

AT SLU

2

3 30 high school students joined the academy from across the country and Puerto Rico.

2. High school students engage in a discussion during one of the many presentations and seminars that are part of the International Business Academy. Students in the academy learn about global business from SLU faculty and business managers representing companies around the world.

3. Area teens participating in the Allsup Entrepreneurship Academy toured the T-Rex offices near Saint Louis University’s campus, where they learned about the startup companies collaborating in the shared workspace including Greetabl, which was founded by Cook School alumnus Joe Fischer.

SOCIAL ENTREPRENEURSHIP COURSE OFFERED THIS FALL This fall, undergraduate students can take a newly offered social entrepreneurship course. Jerry Katz, Ph.D., and Rob Boyle Ph.D., are instructors for the course, which will include members of the St. Louis social venturing community as speakers, mentors and project judges. The course is one of two introductory course offerings as part of the Cook School’s 13th-ranked entrepreneurship undergraduate program.

“Given SLU’s tremendous service leadership effort, we expect the class to appeal to students who want to bolster their service efforts with the business acumen to bring their charity ideas to reality,” said Katz.

Events ALUMNI

One-Year MBA

INFO SESSIONS

October 8 November 11 December 10 The John Cook School of Business welcomed the tenth One-Year MBA class in June. The cohort class includes students from across the country and around the world, including Nigeria, China, India, Thailand, Romania, Mongolia, Taiwan and Turkey.

Our One-Year MBA is the first and only AACSB-accredited program of this kind in the region. Learn more about our graduate business programs at an on-campus information session, register at gradbiz.slu.edu.

GRE E TINGS FE LLOW A LUM NI, My name is Samantha Morr, and I have been a member of the John Cook School of Business Alumni Board for the past three years. This summer I was honored with the opportunity to take over the role of Alumni Board President. I graduated from the Cook School in 2010 with a degree in accounting and information technology management, and work in risk consulting at KPMG. This August, the Alumni Board had our annual planning retreat. A lot of outstanding ideas were generated, and we are looking forward to an exciting year of events and programs.

For more information about the Alumni Board and upcoming events, please visit alumni.slu.edu/business.

I hope to see you around the business school sometime soon!

SUNDAY, DECEMBER 7, 2014

SUNDAY, JANUARY 25, 2015

JANUARY 2015*

BREA K FAST WITH SAN TA 9: 3 0 A .M.

CI N DERE L L A AT T H E FOX 1 1 A .M . / 1 P. M .

TRIVIA NIGHT 6 P. M .

WOOL BAL L ROOM, BUS C H STU D E NT CENTE R

TH E FA B U LO U S FOX T HE AT R E

J O HN A N D LU CY CO OK HALL AT RIUM

Rodgers + Hammerstein’s CINDERELLA is the Tony Award®- winning Broadway musical that’s delighting audiences with its contemporary take on the classic tale.

Join fellow Cook School alumni for the annual Trivia Night, hosted by the John Cook School of Business Alumni Board.

Santa is coming to SLU. Bring the children in your life to visit with Santa and celebrate the holiday season at this annual event. Breakfast buffet is included.

Adults: $20* / Children 5-12: $10 / Children 4 and under: Free For more information and to register online, visit alumni.slu.edu/santa14. *Includes a $5 tax-deductible gift to the Emergency Scholarship Fund

Preshow luncheon at 11 a.m. / Curtain at 1 p.m.

Cost is $75 per person and includes lunch, ticket and $5 tax-deductible gift to the Emergency Scholarship fund.

For more information and to register online, visit alumni.slu.edu/cinderella.

Doors open at 6 p.m.

Trivia starts at 6:30 p.m.

Cost: $250 (regular table) / $400 (premium table) The proceeds support the John Cook School of Business Alumni Scholarship Fund.

For more information and to register online, visit alumni.slu.edu/trivia15. *Specific date to be determined

FALL 2014 | 9

{Shareholder}

MATTERS OF THE HEART A S P R E S I D E N T, C E O A N D C O - F O U N D E R O F I N V I V O S C I E N C E S I N C . , AY L A A N N AC ( M B A ‘ 9 5 ) I S U S H E R I N G I N N E W T R E AT M E N T S F O R H E A R T D I S E A S E .

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A

heart attack that claimed the life of Ayla Annac’s dad when she was a college student served as the catalyst for a new business venture that is revolutionizing the development of new life-saving heart medications.

The unexpected death of her father in 1988 immediately thrust Annac into the role of breadwinner for her family in Istanbul, Turkey, where cultural norms dictated that the oldest child assume that responsibility.

To provide for her mom and younger brother, she secured employment at a Turkish pharmaceutical company, working there for about six years before deciding she wanted to pursue an MBA degree.

But Annac’s employer refused to support her continuing education, thinking it wouldn’t be a wise investment.

“At the time, most Turkish companies assumed a woman would most likely get married and have children,” Annac said.

“They believed she wasn’t going to be able to contribute to the company the way other workers might be able to.”

So Annac made the difficult decision to quit her job and relocate to the USA.

St. Louis topped her list of prospective cities, as she had family friends from Istanbul who lived there. She also observed that the city lined up almost perfectly with Istanbul on a map.

“I felt comfortable in St. Louis,” she said. “It was familyoriented, and amazing things were happening at the universities. I felt welcomed, and it felt like home.”

Annac also appreciated that Saint Louis University’s values aligned with hers.

“It was one of the top schools with deep values in universal service of humanity, discovery and innovative scholarship,” she said. “The school has traditional values that are very similar to where I came from.”

While completing the MBA program, Annac learned about two researchers from Washington University Medical School who had developed an idea to create human heart tissue for use in testing new cardiology drugs.

“This concept was very attractive to me because I lost my father from a heart attack and there had been no new drugs introduced in the acute cardiac area since the 1970s,” she said.

FALL 2014 | 11

When the researchers told Annac that a European interest had offered them about $2,000 to purchase rights to a patent, Annac counseled them to turn down the offer.

They did as she advised, but the idea wasn’t quite ready for prime time when Annac completed her MBA degree in 1995, so she accepted a position at Nestle Purina, working in global business development, marketing and strategic alliances.

She also enrolled in an entrepreneurship course at SLU, where she had the opportunity to write a business plan for the new venture.

“When I go back and read that original plan, it’s actually not that different from our vision and what we have achieved,” she said.

GAT EWAY TO NEW TR EATMENTS InvivoSciences Inc. made its official debut in January 2001, cofounded by Annac, Tetsuro Wakatsuki, Ph.D. and Elliot Elson, Ph.D. The company manufactures laboratorygrown human 3D tissues for drug safety and discovery screening. Its proprietary products and technology offer significant time and cost savings to pharmaceutical and biotech companies, which spend at least six years and $1.2 billion to develop each new drug.

The company also partners with several universities and provides contract research services to pharmaceutical companies that are using the system in their drug-screening research.

The company has earned numerous accolades, including a 2012 Edison Award, which recognizes the world’s most innovative new products, services and business leaders.

PURSUING TH E DRE A M Over the years, as Annac has presented InvivoSciences products and technology to potential customers and investors, many of them have told her that the idea was too far ahead of its time.

“It was true,” she said. “I was really eager and passionate, so I didn’t understand what they meant, but now I understand that the industry needed to be ready.”

“OUR PRODUCTS A N D T E C H N O L O GY REPRESENT AN ENORMOUS A D VA N C E M E N T I N C A R D I A C R E G E N E R AT I V E M E D I C I N E T H AT W I L L U S H E R I N T H E D E V E LO P M E N T O F N OV E L T R E AT M E N T O P T I O N S . ”

More accurate than conventional twodimensional testing methodologies, the company’s human tissue-based screening approach can provide researchers with critical information about drug toxicity earlier in the testing process, speeding up the drug discovery process and helping doctors optimize treatments for individual patients.

“Our products and technology represent an enormous advancement in cardiac regenerative medicine that will usher in the development of novel treatment options,” Annac said.

The technology is also less controversial than other research techniques.

“These are not embryonic stem cells; they’re derived from adult, mature cells taken from a urine or blood sample,” Annac said.

And the patented technology has the potential to serve as an enabling technology that will support drug development and discovery for other diseases as well.

Currently based in Madison, Wis., InvivoSciences has received funding support from the National Institutes of Health and American

12 | BUSINESS.SLU.EDU

Heart Association, both of which recognize the importance of commercializing the technology to benefit future drug discovery.

- AY L A A N N AC

Though it’s been a long journey, Annac’s persistence has enabled her to continue pursuing the company’s vision despite encountering numerous skeptics.

“There were many respected scientists and businesspeople who said I couldn’t do it, and I’m sure there are many people who still think I will not make it,” Annac said.

“Science takes a long time to be validated, and you have to be diligent.”

She advises students and budding entrepreneurs to never be afraid to follow their dreams.

“You will never know until you try, until you create your vision and give your 100 percent without knowing if it will succeed or not,” she said. “When you devote your life to something you believe in, good things can happen. But if you don’t even try, that dream will never come true.”

Improving medical treatments for heart disease has always been Annac’s dream.

“Because I lost my father, this was very personal to me. I didn’t want anyone else to have to experience what I did as a girl,” she said.

She attributes her success to skills and resources she gained through the SLU MBA program.

“SLU gave me the practical tools to be able to take a risk,” she said. “Heart failure took my father’s life at the age of 53. My MBA education encouraged me to help find the cure.” Sh

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FACES OF

INNOVATION SLU WOMEN IN BUSINESS ARE MAKING THEIR MARK AS ENTREPRENEURS, M E N T O R S , I N N O VAT O R S A N D P I O N E E R S .

W

omen across the U.S. are launching 1,288 new businesses each day, double the rate of only three years ago, according to the 2014 State of Women-Owned Businesses Report, commissioned by American Express.

PHYLLIS ELLISON CORTEX P. 14

And the nation’s estimated 9.1 million women-owned businesses generate more than $1.4 trillion in revenues, employ 7.9 million people and account for 30 percent of all enterprises.

KRISTA CLEMENT

“Women are shedding their cloak of invisibility,” said Laura Burkemper (MBA ‘94), CEO of The Catalyst Center and SLU adjunct professor of entrepreneurship. “They are networking, forming relationships, getting trained in STEM (science, technology, engineering and mathematics) arenas and ultimately forming women-led, successful businesses.”

LAURA BURKEMPER

As women expand their business impact and influence, the Cook School continues to equip current and future generations of female professionals to make their mark on the local, national and global economy.

Featured are four alumnae and one current student who are actively shaping today’s dynamic business landscape.

HELPER HELPER, LLC P. 15

BILLIKEN ANGELS NETWORK P. 16

JENNIFER EHLEN PROSPER WOMEN ENTREPRENEURS P. 17

LACHLAN JOHNSON JOXIE P. 18

FALL 2014 | 13

BUILDING CRITICAL MASS

In less than a decade, the purview of Phyllis Ellison (MBA ‘92) has expanded from a small group of individual entrepreneurs to a thriving 200-acre innovation district.

Her career progression reflects the St. Louis region’s expanding startup community, which has evolved from disconnected pockets of innovation to an industry-agnostic ecosystem of entrepreneurs with several emerging innovation areas.

As director of entrepreneur services and institutional and corporate partnerships at Cortex, Ellison works closely with the five innovation centers that are part of the district, which is located in the Central West End and Forest Park Southeast neighborhoods.

Mentoring Service (IVMS), an organization she cofounded in 2007 to assist early-stage entrepreneurs in launching high-technology, high-growth businesses. When it began, IVMS was one of only a handful of entrepreneur support organizations in the region; today, there are more than 100.

During her tenure, IVMS provided mentoring and coaching support to more than 200 innovative businesses, including Yurbuds, a manufacturer of personally-sized earbuds that was recently acquired by Harman International Industries.

Ellison also serves as managing director of Startup Connection, an annual showcase and celebration of St. Louis entrepreneurs that is organized by

1

2

1. CORTEX IS A 200-ACRE INNOVATION COMMUNITY. 2. CUSTOM LAB AND OFFICE SPACE.

“Our goal is to create a live-work-play environment,” Ellison said. “It’s about creating a community that encourages companies to innovate, grow and create something new. It’s also a dynamic place to live, explore great cultural assets and meet fellow innovators.”

Founded in 2002, the mission of Cortex is to be the epicenter of innovation and entrepreneurship for the St. Louis region.

“A successful research park or innovation district is, by definition, anchored by one academic research institution, and we’re fortunate to be anchored by two: Saint Louis University on the east and Washington University’s medical school on the west,” she said.

PHYLLIS ELLISON

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Prior to joining Cortex earlier this year, Ellison served as executive director of Innovate Venture

eight support organizations. SLU will host the next Startup Connection event on Wednesday, Nov. 19 from 4-7:30 p.m. at Busch Student Center.

“The collaboration in St. Louis is really amazing.

We’ve recognized that there are so many more benefits in helping each other than in staying in our own competitive silos,” she said The region continues to attract interest from external organizations such as Cambridge Innovation Center, which hosts the largest concentration of entrepreneurs in the world and chose Cortex as its first expansion outside of Massachusetts.

“We are at a game-changing point right now for St. Louis and entrepreneurship,” Ellison said.

“This external validation confirms that there’s something special happening here.”

SCORING COMMUNITY VOLUNTEERS

Merging a love for athletics that she honed on a college basketball court with entrepreneurship principles she learned in a SLU classroom, Krista Clement (MBA ‘13) is poised to transform community volunteerism on college campuses across the U.S.

While teaching math at Compton Drew Middle School in St. Louis, Clement enrolled in the SLU master’s degree in educational leadership and MBA dual-degree program. She also worked as a graduate assistant in the Center for Entrepreneurship.

As founder of Helper Helper, LLC, Clement is helping to connect student-athletes with community engagement opportunities in their local communities.

“I probably wouldn’t have had the confidence to do what I’m doing right now – or even known that following my passion was a career option – had I not gone to SLU for business school,” she said.

Using a mobile app, individual athletes can track their volunteer activities, engage with fellow athletes on campus and search for future volunteer opportunities.

University athletic departments can use the platform to measure the overall community involvement of their student-athletes, a task currently completed through Excel spreadsheets or not at all.

“Having the ability to streamline that process and centralize the communications is one of the most important things when we’re talking about building these programs,” she said.

The smartphone app, which is custom-branded to each subscribing university, also taps into the competitive spirit that drives college athletes by allowing users to see how their team stacks up against other teams on campus.

“By talking with a number of student-athletes, we were able to align the features of the app around the experiences they are already familiar with – goals, stats, teams and competition,” Clement said.

KRISTA CLEMENT

Relationships Clement formed throughout her career as a young athlete have served her well as she traverses the country meeting with university athletic directors.

“It’s just been amazing to see all the people that I’ve met throughout my life and how supportive they’ve been to make this possible for Helper Helper,” she said.

With investment support from the Billiken Angels Network, Helper Helper will be rolling out on several college campuses this fall.

“One of my main goals is to help student-athletes form a habit of helping so when they graduate, it’s something they bring into whatever community they’re part of.”

THE HELPER HELPER APP MAKES IT EASY FOR STUDENT-ATHLETES TO TRACK THEIR VOLUNTEER ACTIVITIES.

After earning her undergraduate degree from the University of Michigan in 2008 on a basketball scholarship, Clement signed on with Teach for America, a prestigious national organization that focuses on youth education in low-income communities.

FALL 2014 | 15

ANGEL AMONG US

Laura Burkemper (MBA ‘94) began her career working for two of the world’s largest startups: Coca-Cola and McDonald’s Corporation.

Though both companies are global enterprises, they started humbly, with the seed of a good idea.

“During its first year, Coca-Cola sold a modest nine servings per day in Atlanta,” she said. “And a salesman named Ray Kroc sold eight multi-mixer shake machines to a small restaurant run by the McDonald brothers in 1954. A year later, Kroc founded McDonald’s Corporation, and he soon bought the exclusive naming rights.”

Burkemper is currently CEO at The Catalyst Center, a consulting practice she launched in 2011 to help businesses strategically align, position, market and grow their brands.

“THE BILLIKEN ANGELS N E T WO R K I N F U S E S B OT H I N V E S T M E N T C A P I TA L A N D E X P E RT I S E I N TO I N N O VAT I V E C O M PA N I E S T H AT S H O W P R O M I S E I N MAKING A DIFFERENCE F O R T H E S T. L O U I S R E G I O N A N D E C O N O M Y. ” - L AU R A B U R K E M P E R

“Organizations hire us to help them find their North Star – we craft their mission, vision and unique value proposition, aligning all aspects of their business and brand,” she said.

Serving as an adjunct professor of entrepreneurship at SLU for the past five years, Burkemper teaches a classroom version of the TV show “Shark Tank,” with entrepreneurs from the community evaluating the pitches.

LAURA BURKEMPER

16 | BUSINESS.SLU.EDU

“I provide the grade, but the outside judges provide them with a dose of reality,” she said. “I help the students determine the feasibility of their idea, and the capstone class helps them develop their business plan to strategically take their idea forward.”

Burkemper also oversees member development for the Saint Louis University's Billiken Angels Network, a growing group of 33 accredited “angel” investors who support a variety of local business ventures.

“The Billiken Angels Network infuses both investment capital and expertise into innovative companies that show promise in making a difference for the St. Louis region and economy,” she said. “We invest in firms at all stages and in any industry to create a tangible impact.”

One of only 18 university angel networks in the U.S., the Billiken Angels Network has invested more than $1 million in local startups and businesses over the past year.

“It’s a great time to be an entrepreneur in St. Louis,” Burkemper said. “You can see the groundswell and the excitement.

Entrepreneurship really is the engine of local, national and global economies, and it’s exciting to be a part of it.”

And she believes the benefits of entrepreneurship extend to the entire business community, including large corporations, small businesses, not-for-profit organizations and even governmental entities.

“Entrepreneurship simply reflects a mindset,” Burkemper said. “It’s not only for those who are starting new businesses, but also those individuals who want to help their existing organizations become leaders in the marketplace.”

HELPING WOMEN PROSPER

PROSPER CAPITAL RECEIVED SUPPORT FROM THE ST. LOUIS REGIONAL CHAMBER AT ITS 2014 ANNUAL EVENT.

A 2012 report that ranked St. Louis dead last among 25 cities in the number of female-led entrepreneurial businesses convinced Jennifer Ehlen (MBA ‘03) it was time to tackle the gender gap head on.

Armed with research from the Kauffman Foundation and American Express OPEN, Ehlen enlisted a few fellow female entrepreneurs to conduct focus groups to assess what was missing in St. Louis.

“Without trying to recreate the wheel, we needed a collaborative, comprehensive program to help women entrepreneurs navigate the entrepreneurial ecosystem in St. Louis,” said Ehlen, who is vice president at Thompson Street Capital Partners, a St. Louis-based private equity firm.

They formed Prosper Women Entrepreneurs, a group of business leaders, innovators and students committed to ensuring that women business leaders are a vital contributor to the region’s future economic prosperity. The organization encompasses Prosper Institute, a nonprofit entity that trains and mentors women entrepreneurs, and Prosper Capital, a for-profit organization focused on increasing women’s access to funding and the number of women investing in early stage capital markets.

JENNIFER EHLEN

“We wanted to create a place for aspiring and existing women entrepreneurs to come for help in either launching or growing their businesses,” said Ehlen, a former director of the SLU Center for Entrepreneurship. “It's a huge initiative, but we're

making it happen with the help of more than 45 volunteers.”

Prosper’s mastermind groups are structured, selffacilitated groups of five to seven women who meet every month to share current business issues in a peer advisory group format. Each group is mentored by a seasoned entrepreneur and supported by Prosper for a two-year period.

“These groups are essentially our farm system,” Ehlen said.

Prosper also recently announced the launch of a new startup accelerator program that will make annual investments of $50,000 into 12 womenled startups in the technology, life sciences and consumer products industries.

“Having more women growing businesses is not just good for the community and good for our economy,” she said. “Women-led businesses are also an amazing untapped asset class that investors can capitalize on.”

Ehlen’s positive impact on the local business landscape has been recognized with numerous awards, including the 2013 Distinguished Young Alumni Award from the Cook School.

She is committed to ensuring that Prosper will continue to increase its value to women in the community.

“This is not a sprint; it’s a marathon,” Ehlen said.

“If we stay the course and continue to invest in women entrepreneurs, we’re going to reap major dividends.”

FALL 2014 | 17

SW I M M I N G WITH THE S H A R KS AN ACTIVE MEMBER OF THE DIAMOND IN THE ROUGH GROUP FOR STUDENT ENTREPRENEURS, LACHLAN JOHNSON PRESENTED AT THE COOK SCHOOL’S RECENT ENTREPRENEURIAL HALL OF FAME EVENT.

A grueling four-hour car ride with her younger brother and older sister gave Lachlan Johnson her first taste of new product development.

Returning home from a relaxing day at the beach, the siblings’ backseat bickering compelled their mom to try redirecting that energy into a more productive activity.

“If you could have any toy right now to keep you entertained, what would it be?” she asked.

Almost immediately, the petty arguments turned into an ad-hoc brainstorming session that centered on creating the ideal toy.

Eight-year-old Jake wanted something he could trade with his friends.

Erin, 14, felt it was important to express her personality through the object.

And 12-year-old Lachlan focused on creating a fashionable accessory she could show off.

That collaborative discussion formed the foundation of Flipoutz, a line of personalized, interactive bracelets for kids. Each silicone bracelet holds individual coins that feature hobbies and interests. On the back of each coin is a code that can be tracked online as it’s traded from friend to friend.

To help the idea take flight, the Johnsons earned a spot on the second season of “Shark Tank,” an ABC TV show that showcases entrepreneurs seeking funding from a panel of high-profile investors.

LACHLAN JOHNSON

18 | BUSINESS.SLU.EDU

“It’s exactly what it looks like on TV,” Johnson said. “The giant doors open and you walk down

the hallway and the sharks are all sitting there. It’s intense…but also kind of fun.”

The siblings – the first kids to be featured on the program – scored a deal with a coalition of three sharks. Two sharks ended up bowing out because the patent was still pending, but Daymond John continued working with them as a coach and mentor.

“He became our No. 1 go-to guy,” Johnson said.

“He was amazing.”

Ultimately, John connected them with Wild Craze, a new toy company that purchased Flipoutz in April 2013.

Meanwhile, Lachlan and Jake became mentors in Independent Youth, a St. Louis-based notfor-profit organization that provides peer-topeer mentorship for students interested in entrepreneurship.

One of the duo’s speaking engagements brought them to SLU, where Lachlan met Tim Hayden, director of the Center for Entrepreneurship.

“I got a tour of campus and realized that it would be the perfect place to add the hard business skills to my entrepreneurial spirit,” she said.

She’s currently a sophomore pursuing a dual degree in marketing and entrepreneurship.

Lachlan and her brother recently formed Joxie, a startup company to advance their entrepreneurial ideas. The first product to be launched will be Beaux Up™, an edgy twist on the classic self-tied bow tie.

“ST. LOUIS IS ENJOYING AN ENTREPRENEURIAL RENAISSANCE UNLIKE ANYTHING SEEN LOCALLY SINCE THE LATE 19TH CENTURY. WE ARE SEEING MORE WOMEN IN OUR ENTREPRENEURSHIP CLASSES – TWO OF THE FIVE BUSINESS PLANS DONE BY MBAS THIS YEAR WERE WOMEN-OWNED BUSINESSES – AND THEY ARE ACTIVELY INVOLVED IN A HOST OF SUPPORTING PROGRAMS BOTH ON CAMPUS AND OFF, SUCH AS OUR INSTITUTE FOR PRIVATE BUSINESS, ALLSUP HIGH SCHOOL SUMMER ACADEMY AND BILLIKEN ANGELS NETWORK.” - J E R R Y K AT Z , P H . D . , C O L E M A N F O U N D AT I O N PROFESSOR IN ENTREPRENEURSHIP

WOMEN IN BUSINESS WOMEN ACROSS THE U.S. ARE LAUNCHING 1,288 NEW BUSINESSES EACH DAY DOUBLE THE RATE OF ONLY THREE YEARS AGO

WOMEN-OWNED BUSINESSES ACCOUNT FOR

30%

OF ALL ENTERPRISES

THE ESTIMATED

9.1 MILLION

WOMEN-OWNED BUSINESSES GENERATE MORE THAN “It’s tie halves that are interchangeable on a unique clip that we designed, allowing for a completely customizable experience,” she said.

The collection will include up-cycled vintage tie silks manufactured by a worker-owned cooperative in North Carolina that primarily employs Mayan immigrants who have relocated to the U.S. to escape a civil war in Guatemala.

“It's so cool to be helping employ local immigrants and at the same time assist them in their journey to become co-owners of the company,” she said.

$1.4 TRILLON AND EMPLOY

7.9 MILLION Figures generated from the 2014 State of Women-Owned Businesses Report, commissioned by American Express.

Lachlan credits her parents for instilling a fearless attitude within the family.

“My dad always said, ‘Why not be the one to invent the next greatest product?’ So we really grew up thinking that we could achieve anything.” Sh

FALL 2014 | 19

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BANKING EXECUTIVE AND UNIVERSITY TRUSTEE A N N E GAG E N ( B S B A ‘ 7 2 , M B A ‘ 76 ) S H A R E S PERSPECTIVES ON HER FOUR-DECADE CAREER.

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hen Anne Gagen began pursuing her undergraduate marketing degree in 1968, she was one of only 24 female students enrolled in the business school, a mere 9 percent of the school’s total enrollment.

But that didn’t deter Gagen from forging ahead with her business ambitions.

Her career in the banking industry spans more than 40 years and includes numerous community leadership roles.

Gagen currently serves as managing director in the Private Wealth Group of ThePrivateBank, a subsidiary of Chicago-based PrivateBancorp, Inc. She has been a member of the Saint Louis University Board of Trustees since 2007 and received the Father Joseph L. Davis Alumni Merit Award in the Cook School of Business 2008 Excellence Awards program.

We asked Gagen about the evolution of her career and opportunities for women in business.

20 | BUSINESS.SLU.EDU

YOU GREW UP ON THE EAST COAST, SO WHY DID YOU DECIDE TO ATTEND SLU? I wanted to attend a Jesuit university like several of my family members had. At the time, not all Jesuit universities accepted women, but Saint Louis University did. My parents were originally from the Midwest, and I decided living in St. Louis would work out just fine for me, which it did.

HOW DID YOU START WORKING IN THE BANKING INDUSTRY? The economy wasn’t great when I graduated, so it was very difficult to find a job. Because I wasn’t originally from St. Louis, I didn’t have much of a local network. But I did have experience working for a bank in Bethesda, Md., during the summers, so I was able to get hired at a local bank.

WHAT DO YOU LIKE MOST ABOUT YOUR JOB? One of the benefits of working in the banking business is that you’re meeting new people all the time. They’re interesting people who have done some pretty amazing things, and it’s exciting to see entrepreneurs grow their businesses and realize their vision.

AS SOMEONE WHO HAS WORKED CLOSELY WITH BUSINESSWOMEN TO GROW THEIR CAREERS, WHAT ARE YOUR MAIN PIECES OF ADVICE? I advise women to find a mentor who they respect and can talk to in a confidential way.

This person should be the sounding board for challenging situations and an overall resource for advice. Women also shouldn’t be afraid to ask their employers how long they will be in their current role and inquire about opportunities to move forward. They should state their desire to be successful and their commitment to the success of the team or organization.

It’s important for women to look at the organization they are working for and

determine if there is a career path or if it’s a stagnant work environment. Does the organization encourage and support career development? Is there someone who can advise them when they face challenges?

Women also need to learn what their personal “derailers” are – such as lack of delegation or poor communication – and then work on making improvements. They should be willing to listen to suggestions on how to improve.

AS ONE OF THE FOUNDING MEMBERS OF THE GRUENBERG SOCIETY, WHAT DOES THE SOCIETY MEAN TO YOU AND TO THE COMMUNITY? The Gruenberg Society was established in 2006 by some amazing female alums: Joan Lipic (‘59), Judy Murphy (‘80), Kathy Day (‘72), Karen Rengstorf (‘69), Rosalynn Purcell (‘61), Joann Rull (‘70), Donna Beck Smith (‘76), Ampy Kollman-Moore (‘92) and Ellen Harshman (‘78). Its purpose was to encourage female graduates of the business school to stay connected with each other and with the school.

As the percentage of female enrollment has significantly increased in the business school, we formed this society as a way to encourage the female alums to re-engage with the University. The funds raised are used to establish an endowed chair in the name of Gladys Gruenberg, Ph.D., who was the first female tenured professor in the business school. We sponsor several programs each year that provide networking opportunities and encourage female alums to step up and financially support their alma mater.

HOW HAVE YOU SEEN THE BUSINESS LANDSCAPE FOR WOMEN EVOLVE OVER THE YEARS? In the early ‘70s, Gloria Steinem was in her heyday saying women could do it all, and I thought that sounded like a pretty good idea.

There weren’t very many women in business at the time, but I decided that women could

be just as successful as men in business.

Back in those days, you were just happy if you got promoted. Now we’re much more sophisticated in understanding that there are ways you can drive your own career.

Today, some very significant Fortune 100 companies are being led by women, including Mary Barra at General Motors, Virginia Rometty at IBM, Patricia Woertz at Archer Daniels Midland and Ellen Kullman at DuPont. These women can have a positive impact on their cultures, which will in turn provide more opportunities for other women.

HOW HAS YOUR SLU EXPERIENCE IMPACTED YOUR CAREER AND LIFE? My SLU experience provided me with a knowledge base and the confidence to believe I could have a successful business career. The Jesuit mission inspired me to serve on not-for-profit boards in St. Louis that have a positive impact on our region. Serving on the University’s Board of Trustees is a privilege. Higher education faces many challenges today, and SLU has the leadership at all levels to meet these challenges and continue to excel.

The students I have met through my role on the board reinforce my belief that the SLU experience truly develops men and women for others. As alumni, we have a responsibility to support this effort.

FALL 2014 | 21

THE GRUENBERG SOCIET Y

GLADYS GRUENBERG’S TOP SIX LES SONS FOR WOMEN IN BUSINES S

PURPOSE

1. EVERYTHING IS POSSIBLE, SO DON’T RULE OUT ANYTHING.

With more than 3,200 John Cook School of Business alumnae in the St. Louis area alone, the Gruenberg Society aims to reconnect alumnae with the John Cook School of Business and other local businesswomen. The Gruenberg Society is also open to nonalumnae through sponsorship by a current Gruenberg member. In addition to providing networking, professional development and social event opportunities to our members, another goal of the Gruenberg Society is to establish a future endowed professorship in the name of Gladys Gruenberg, Ph.D., professor emeritus in economics and the first tenured female faculty member in the business school.

HISTORY Through the leadership of Ellen Harshman and Anne Gagen, the Gruenberg Society was formed in 2006. Gruenberg, professor emeritus in economics, was the first tenured female faculty member at the John Cook School of Business.

She also served as director of the women’s MBA program and led efforts to provide scholarship funding and personal development for female MBA students.

MISSION The mission of the Gruenberg Society is to celebrate the significance and impact of women through valuable networking, professional development and social events.

LEARN MORE alumni.slu.edu/gruenberg

22 | BUSINESS.SLU.EDU

“Despite not having any previous labor relations experience, I got a job as a field examiner in the St. Louis Region of the National Labor Relations Board during World War II.”

2. HAVE AN UNDERSTANDING SPOUSE AND RELY ON A MENTOR OR TWO. “I had to quit the business school faculty when I became pregnant for the first time in 1955. I retained an association with SLU through Father Leo Brown, a professor of economics and renowned labor arbitrator and mediator. While raising three children from 1955 to 1969, I kept doing what I had done as his graduate assistant, drafting arbitration opinions and writing articles for Social Order, the official publication of the Institute of Social Order, which he directed. Having full-time childcare at home, which my beloved husband Harold insisted on, I also managed to teach labor economics part-time at Washington University and Maryville University until I returned to SLU’s economics department faculty in 1969.”

3. IT’S BETTER TO HAVE GOVERNMENT HELP IF YOU CAN GET IT. “The U.S. Congress lent a helping hand to developing my career as an arbitrator by passing the Civil Rights Act in 1964 and amending it in 1972 to include public employees. Sex discrimination cases needed women arbitrators — at least that’s what the men involved thought.

They didn’t discover until it was too late that when it comes to deciding cases, women arbitrators think the same way as men.”

4. TAKE ADVANTAGE OF EVERY NEW PROGRAM TO IMPROVE YOUR IMAGE AND TALENTS. DON’T SAY NO TO ANY MAINSTREAM PROFESSIONAL GROUP. “It’s important to join professional organizations and to start playing the politics to move up the ladder. Since I was the sole woman tenured professor in the business school in 1975, I was selected to direct the Women’s MBA project. Until that time, any strictly women’s groups did not appeal to me. I avoided professional women’s organizations because I felt they drained women’s talents away from mainstream professional organizations. But I was won over by the Monticello Grant and helped start the Women’s MBA Association, which lasted until the men students charged sex discrimination and it voted to become the unisex MBA Association to get Student Government funding.”

5. QUALIFY YOURSELF. “Affirmative action may have had an impact on my promotions, but I also had the proper qualifications. The big thing is to qualify yourself for whatever opportunity comes along and then grab it and do the best you can. That’s why earning an MBA is so important — it will help you survive the weeding out process if you have equal qualifications.”

6. IF YOU WANT TO DO IT, YOU CAN. “My father was a carpenter. During the Depression, my mother took a job working in a department store for 20 cents an hour to put food on our table. The point is there always will be people who have started higher up the ladder than you. But if a woman wants to do something and has the drive, then she can do it. Throughout my career I often have been the only woman in a meeting or on a committee. I decided long ago that once you get into a position where you can make a difference, you ignore the fact you are a woman and just play with the boys.”

“THE POINT IS THERE ALWAYS WILL BE PEOPLE WHO HAVE STARTED HIGHER UP THE LADDER THAN YOU. BUT IF A WOMAN WANTS TO DO SOMETHING AND HAS THE DRIVE, THEN SHE CAN DO IT.” - G L A DY S G R U E N B E R G

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{Reflection}

TIMES HAVE CHANGED FOR THE BETTER

By Laurel Boone, J.D.

ASSOCIATE PROFESSOR OF MANAGEMENT

T

imes change. There is a lot of talk about the “good old days,” but on closer inspection, maybe there was room for improvement. One change I celebrate daily is the opportunity for women to study business and become full players in the business world. For many years, I’ve been very COOK SCHOOL ALUMNAE AND FORMER STUDENTS OF LAUREL BOONE , J.D., (CENTER) GATHER OUTSIDE OF THE fortunate to have the opportunity to guide both undergraduate JOHN COOK SCHOOL OF BUSINES S. PICTURED LEF T TO and graduate students as a business school professor teaching RIGHT: M ADELINE QUILL , DANIELLE TROUT, A MY MELSER, LAUREL BOONE , NICOLE KLINE , NATASHA BAHRA MI AND business law while concurrently practicing law. My own educational M ARY ELIZABETH COLEM AN. experience as one of very few women business majors (at Butler University) and one of a not-so-large group of female law students (at Indiana University), as well as teaching and practicing law have "It is impossible for me to over emphasize the importance the relationships I made at the business all joined to give me an interesting school have played in my professional development. I met Professor Boone my junior year at SLU perspective on women’s changing when I enrolled in her Business Law class. Since that time she has served as a mentor and key director opportunities and roles in business. of my personal board serving as a sounding board and offering candid advice as I transitioned from law school to working at a large regional firm to opening my own practice five years ago. But what is so striking about my relationship with Professor Boone is that it is not unique. I am one of many women and men that she has continued to teach long after we left her classroom. And as valuable as she is to me personally and to the school, Cook has developed a culture that fosters professors, staff and students building relationships and working together for the betterment of the greater community. "

- MARY ELIZABETH COLEMAN AT TORNEY AT LAW

"As a female student in the Business School, I felt no restrictions in what I could achieve. Successful female professors like Professor Boone confirmed for me that as a woman in business I could not only get by, but I could excel in a field that used to be entirely dominated by men."

- MADELINE QUILL CONTRACT ADMINISTRATOR, THE BOEING COMPANY

24 | BUSINESS.SLU.EDU

In many ways the questions asked by female students have moved from the realm of “can I do this?” to “what would I really like to do?” Doors have opened in ways my mother’s generation could not have imagined.

That is not to say that there is full equality in the workplace and in people’s attitudes, but great progress has certainly been made.

What I hope and strive for is a future in which a student’s or business professional’s gender is irrelevant.

The question should simply be “can this person do the job?” I hope my students report that gender is in fact irrelevant to success in my classes. The unspoken message to my students, both female and male, is that aside

"Three business women I’ve looked up to: my mom and aunt (single moms that put themselves through school to end up owning and operating their own businesses) and also Professor Boone since my sophomore year at SLU in 2003 when I had her for the first time. The fact that she was a practicing attorney, a great professor, a mom, a wife, etc. just amazed me."

- NICOLE KLINE, MBA , C SP DIRECTOR OF OPERATIONS, EXTRA HELP, INC.

from all the theory on diversity and inclusion, I’m doing a job I love. Women professors need to be role models not just for female students, but also for male students, because all of them will be working with and for female professionals. In addition, I have always spoken freely about my family in class. Part of the Jesuit ideal is education of the whole person, and I do not want any of my students to believe that their only identity, or the only identity of value, is that of a professional. Balance between personal and professional life is a challenge for everyone, regardless of gender.

One thing I admire about the younger generation is the openness in accepting diversity. The current generation is far less judgmental and tied to stereotypes involving gender than previous generations. This allows them more freedom to pursue their interests than ever before. I must add that after extensive travel and an ongoing, passionate study of history, I am more aware than ever that living in the United States in 2014 offers women far more opportunity than women have had in the past or currently have in most places around the world. The idea of being told and accepting that certain jobs are prohibited because of one’s gender is simply unimaginable to me.

One of the joys of teaching at SLU is keeping in contact with former students. When I get emails with the subject line “Good news” or “Promotion,” it is a delight to share my former students’ happiness. In addition I have had the good fortune to be able to get together personally with former students who live in the area or come back to visit. Seeing them as adults who are contributing to society through their success in the business world and meeting their families is immensely rewarding for me. Times have changed for the better. sh

"We have evolved from what can we do to what can't we do.

The Cook School and professors like Dr. Boone gave us the confidence and strength to achieve outside the boundaries.

I have had the opportunity to travel the world, dabbling in everything from foreign policy to analytics regardless of gender stigmas. I currently work as an IT Analyst at Express Scripts while concurrently running my family's restaurant and continue to cultivate my own business through opportunities around the world."

- NATASHA BAH RAMI IS SUE M ANAGEMENT ANALYST, EXPRES S SCRIPTS CO - OWN E R - CA F E N ATASHA , CO- FO U N D E R - D I G I TA L R EVA M P

"A non-traditional full-time female student at a Jesuit institution, what was I thinking? As it turns out Saint Louis University was the perfect spot for me. My major was Information Technology Management (ITM) with a minor in Supply Chain Management. Both of these fields have been dominated by males in the past. My classes at SLU had a nice balance of females to males and I think one of the reasons was the high caliber of female professors available.

Professor Laurel Boone and Dr. Cynthia LeRouge (former JCSB professor now with SLU’s School of Public Health) played a big part in my success. Both women are extremely successful outside of the classroom and they helped to bring their experiences into the classroom and allow students to benefit from their experience. Their experience and guidance are still with me today. "

- AMY MELSER, MBA , PMP PROJECT M ANAGER, RESEARCH, FEDERAL RESERVE BANK OF ST. LOUIS

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