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scope of management and leadership classes'
distinguishes Kellogg is a curriculum that offers multiple
strengths. While some B-schools report that 80 percent of
their graduates are recruited by just a handful of companies,
at Kellogg the situation is markedly different: more than
150 companies recruit Kellogg talent, indicating what Dean
Jain calls "balanced excellence" throughout the
"Gene" Lavengood, professor of business
history and ethics, was a beloved Kellogg teacher
whose influence has been felt throughout the school
and by many of its graduates. Lavengood arrived
at Northwestern in 1953 and retired in 1994, although
he remained active in Evanston and on campus afterward.
In 1994, Kellogg renamed its Professor of the Year
Award in honor of Lavengood. He died in July 2006.
Kraemer '79 agrees. A partner at Chicago-based private
equity firm Madison Dearborn, Kraemer is also clinical professor
of management and strategy at Kellogg and the former CEO of
Baxter International Inc., a $9 billion global healthcare
company employing more than 50,000 people. Kellogg, he says,
provided the foundation that enabled him to rise through the
Baxter ranks during his 23-year-career there.
only way that happens is to have a very good understanding
of what leadership is all about, what teamwork is all about,
and what running a business in a global environment truly
entails," says Kraemer, who recalls the importance of
Kellogg finance and marketing classes, but says the school's
well-rounded strengths provided him with a holistic leadership
than any one class or major, the broad scope of management
and leadership classes that Kellogg delivered was very, very
critical for me." Kraemer says that Kellogg was visionary
in its early cultivation of team-oriented education, the value
of which he has seen as a corporate leader.
ability to work with different kinds of people from many backgrounds
and cultures is really what global leadership is all about,
and this has been a Kellogg hallmark for decades," says
from Baxter in 2004, Kraemer wanted to find another way to
give back to Kellogg, even while he continues as an executive
partner at Madison Dearborn. Today, he has returned to the
classroom and teaches Managerial Leadership, conveying
the importance of values-based leadership.
have these phenomenal students from all over the world,"
he says. "In addition to all the fantastic analytical
courses they take at Kellogg, it is great to give them real
leadership examples of how to run a global company —
how to make acquisitions, how to manage and lead people in
100 different countries, and how to prioritize and allocate
at Kellogg, says Kraemer, "is an amazing opportunity
to play some role in the development of people who, over the
next 10 years, will be running global corporations."
detective' honors an influential professor
all alumni can step into teaching roles. Some Kellogg graduates
support the school in other ways.
2006, for instance, Michael Shannon '83 and his wife
Mary Sue bestowed a $1 million gift to Kellogg in honor
of Larry Revsine, the John and Norma Darling Distinguished
Professor of Financial Accounting. A graduate of the Kellogg
Part-Time MBA Program, Shannon is the founder of Denver-based
KSL Capital Partners, a $1.25 billion private equity firm.
He says Revsine, who died this year, "reveled" in
teaching students to become "financial detectives."
real-life examples of how to recast financial statements to
focus on cash-generating capabilities has been invaluable
during my career," says Shannon, who also credits Kellogg
with providing the brand-building and cash-flow skills that
helped him as CEO of Vail Associates and KSL Recreation Corp.,
before founding KSL Capital in 2006. "In our private
equity business, the core financial skill of our analysts
is to recast financial statements in a way that allows us
to convert GAAP [Generally Accepted Accounting Principles]
to cash flow in a useful, predictive way. Larry Revsine was
at the forefront of the accounting movement that taught private
equity leaders that cash, not GAAP, was truly king."
Steven Rogers Photo
© Nathan Mandell
talented Kellogg faculty members continue to explore the
intersection of teaching and research and find innovative
ways to solve business problems. Whether it is Camelia
Kuhnen's efforts to contribute to new areas like neurofinance,
which seeks biological bases for economic behavior, or Kent
Grayson's research into trust, authenticity and deception
in marketing, Kellogg professors remain committed to delivering
they have outstanding role models among senior faculty, including
Rebelo, whose teaching is rooted in classical ideals.
accepting the 2007 Alumni Professor of the Year Award during
Reunion this spring, Rebelo referred to Greek philosophy.
"Not to compare us," he told Reunion participants,
"but when Plato was an old man, his servant asked him
why he kept teaching. Plato explained that he was able to
learn from his masters and considered himself lucky to have
time to think.
said: 'I am a repository of knowledge and I must pass this
reporting by Aubrey Henretty