At high point in the Wharton School’s success, more than 600 alumni and friends of the School gathered on October 26 to raise the bar. “I’m proud that we’ve been named Number One four times in a row, but it also doesn’t matter,” Dean Patrick Harker said during a kickoff celebration for Wharton’s Campaign for Sustained Leadership. “What got us there is our willingness to take risks. And that never stops.”
Wharton’s commitment to taking risks has been demonstrated by the more than $295 million that was raised before the big event, which took place at the U.S. Navy Base’s Cruise Ferry Terminal in Philadelphia. From huge banners on one wall, an image of the School’s founder, Joseph Wharton, looked out through a cascade of 17,000 names of donors who had already contributed to the Campaign. Many of these leading donors were present at the black-tie dinner celebrating the Campaign’s progress, and they recommitted themselves to its successful completion.
Defining Wharton’s Future
Dean Harker stressed that the Campaign will define Wharton’s future. “I see the Campaign for Sustained Leadership as our shared opportunity to build the foundation for the next generation of Wharton’s leadership. We have set an ambitious goal: we will raise $425 million for Wharton’s future – by far the largest fundraising initiative in our history. And I am confident we will achieve this goal with the help of the people in this room tonight and the worldwide Wharton alumni community.” Penn President Judith Rodin noted that Wharton as a community can achieve far more than any individual within it. It is “greater than the sum of its extraordinary parts,” she said. Referring to the setting of the Navy Base, Rodin noted a comment by University of Pennsylvania founder Ben Franklin, who said that no ship is ever designed, built and sailed by a single person. “All innovations come about only through purposeful engagement and partnership,” she said. “No one of us, formidable as our individual talents may be, has the capacity by ourselves to preserve Wharton as the gold standard of business education, research and practice. It is only your involvement and leadership that leverage this support into dominance.”
Lift Our Sights Dramatically
Campaign Chairman Jon Huntsman, who was unable to attend the Campaign kickoff, commented in a letter that was read by his son-in-law, Richard Durham, W’87: “During the next two years, we must lift our sights dramatically and far surpass our rather modest goal of $425 million. The desire of my heart is that each one of us will make a significant contribution as an expression of gratitude for the Wharton School providing us with the foundation to be successful in our respective endeavors.” Huntsman thanked contributors to the Campaign and urged all alumni to consider the impact Wharton has made in their careers. “I have no greater love, except for my own family and faith, than that which I have for the Wharton School,” he wrote. “It has given all of us a source of strength, inspiration, personal initiative and the opportunity to compete aggressively in the marketplace. Without Wharton, many of us would not be where we are today.”
A Legacy of Giving
When Jon Huntsman made his unprecedented $40 million gift to Wharton as a cornerstone of the Campaign, he was carrying on a tradition of giving that affected him personally. As a student, Huntsman received a scholarship established by the Zellerbach family, which enabled him to attend Wharton.
After graduation, Huntsman went to see William Zellerbach, W’42, to ask for a job at the Zellerbach family company. “In my interview with Jon,” Zellerbach recalled in an interview on The Campaign for Sustained Leadership video, “I said, ‘Jon, you do not want to go to work for a large corporation. You have too much on the ball. Go to work for yourself.’ ”
Huntsman was crestfallen. “I almost cried. Here was a company I was planning to spend my life with. Here was the chairman of the board of that company telling me I would be better off somewhere else. It took me years to understand and appreciate the greatness of Bill Zellerbach. He gave me much more than a scholarship.”
Zellerbach was not mistaken in his assessment of Huntsman’s potential. Huntsman went on to build the largest privately held petrochemical and plastics business in the world, proceeding to carry on the legacy of contributing to Wharton’s future. “Wharton was lucky enough to get a man of that caliber,” Zellerbach said, “and Wharton was lucky enough that that man wanted to give back to those who helped make him a success.”
Jon M. Huntsman, W’59, and William Zellerbach, W’42
Panel Discussion: Creating Leaders for the Global Community
The day of the Campaign kickoff was a time to celebrate leadership and to consider what it means to be a leader. In a panel discussion before the dinner, a group of distinguished global business executives assembled in the Annenberg Center’s Zellerbach Auditorium to offer their views on leadership. The panelists – David S. Pottruck, President and Co-Chief Executive Officer of The Charles Schwab Corporation; Sir Paul R. Judge, Chairman of Isoworth, Ltd.; and Manuel V. Pangilinan, President and CEO of Philippine Long Distance Telephone Company – engaged in a discussion moderated by CNBC’s Maria Bartiromo.
True leaders “are people and institutions that really care,” said Dean Patrick Harker in remarks at the opening of the panel. “[Wharton has] a passion for creating these leaders, a passion for innovation and a passion for constant renewal.”
David S. Pottruck, President and Co-Chief Executive Officer of The Charles Schwab Corporation; Sir Paul R. Judge, Chairman of Isoworth, Ltd.
Voices of Wharton: Why Do We Need A Campaign?
What is it that drew this distinguished group of alumni and friends to Philadelphia to celebrate the School’s Campaign kickoff? During a reception before dinner, we asked some of the attendees why they believe the Campaign is necessary.
- “Wharton definitely needs this Campaign. It takes a lot of resources to sustain the continuing quest for knowledge, to be a leader in facilities and technology, to bring in new faculty, and to support students in the right environment and learning experiences. We need the resources to continue to be a world leader in educating, training and creating world business leaders.” —Sam Gorman, W’66, WG’67
- “If we want to maintain our preeminence, it takes resources. Our physical assets on campus are depreciated, and we have a lot of competitors. If we are going to stay number one, we need to invest in the future.” —Ron Rosenfeld, W’61
- “It is easy to get complacent when you are on top, but we need to be thinking about what we can do to renew ourselves. For me, it is very personal. Wharton opened up the world to me. I believe much of my personal and professional success can be traced back to my years at Wharton and Penn. When I’ve come back to campus, I’ve been impressed with the students at Wharton. They are such terrific and talented people. It is exciting to be part of attracting this kind of talent.” —Beth Kaplan, W’80, WG’81
- “I am a big believer in education and schooling. That is the means to elevate bright people and give them a chance to develop and contribute to society. I went to Wharton, my kids went to Wharton. I love this school.” —Jim Anchin, W’65, WG’66
