ECCLES EXCHANGE DaviD EcclEs school of Busin Ess alumni magazin E summER 2013 A Growing Legacy James Lee Sorenson introduces the Sorenson Global Impact Investing Center Former Fortune Brands CEO Norm Wesley’s lifelong dedication to learning PAGE 10 Flying high with Azul Brazilian Airlines’ David Neeleman PAGE 12 Meet new Undergraduate Dean Mark Parker PAGE 14 elcome to the second edition of Eccles Exchange, Wthe alumni magazine for the David Eccles School of Business. The timing couldn’t be more perfect for our second issue, as we are spending this summer eagerly awaiting the opening of Phase II of the Spencer Fox Eccles Business Building on September 6. But as you can see reading through these pages, we’re not letting the anticipation keep us from working every day to make the David Eccles School of Business a place you can be proud of, through the noteworthy efforts of its students, staff, faculty and alumni. In this issue, you will read about how alumni like Norm Wesley, David Neeleman and Kyre Malkemes turned their educations at the University of Utah into the careers of their dreams. You’ll see how student Chris Manning started working to support the David Eccles School of Business by organizing fundraising challenges with his peers for Student Giving Week. You’ll meet our new associate dean of undergraduate affairs, Mark Parker, who brings exciting new ideas to the college this fall, and read about Dr. Kristina Diekmann’s groundbreaking research on harassment in the workplace that garnered the school national media attention. Most prominently, in reading our cover story you’ll learn about our new Sorenson Global Impact Investing Center, which will give students the chance to put their classroom learning to the test through hands-on work experiences around the world in places like India, Uganda and Guatemala—areas that will gain a better standard of living thanks to the efforts of students from the David Eccles School of Business. You’ll get a greater understanding of why James Lee Sorenson decided to spark the center’s creation, and meet its director, Lewis Hower. Dean Taylor Randall The Sorenson Global Impact Investing Center is just one of the many programs we hope make you proud of your school. And like so many aspects of the David Eccles School of Business, it would not be possible without the support of our alumni. For that, we thank you, and we’ll continue to showcase all the great things you do in this edition of Eccles Exchange, and all those that follow. Sincerely, Dean Taylor Randall 2 ECCLES EXCHANGE | SUMMER 2013 | The David Eccles School of Business TABLE OF CONTENTS FeatURES A Growing Legacy 4 James Lee Sorenson introduces the new Sorenson Global Impact Investing Center A Hand Up 10 Norm Wesley helps students follow his successful career path that started at the U Turning Passion into a Career 11 Kyre Malkemes turned her love of snowboarding into a dream job Flying High 12 David Neeleman is an entrepreneur of soaring vision Learning to Give 13 2013 MBA grad Chris Manning is already giving back to his school The Mathematics of Business 14 Meet new undergraduate dean Mark Parker MHA Program Earns 15 CAHME Accreditation A long journey nets a high honor Double-victimization in the 16 Workplace Dr. Kristina Diekmann’s research gets national attention In Memoriam 18 Cleone Peterson Eccles, L.S. “Sam” Skaggs & Beverley Taylor Sorenson DepaRTMENTS 17 Alumni Clubs 20 Donor Gifts 29 Alumni News 30 Were You There? Alumni Events 32 Coming Up: Alumni Events Calendar The David Eccles School of Business | SUMMER 2013 | ECCLES EXCHANGE 3 James Lee Sorenson introduces the A GROWING new Sorenson Global Impact Investing Center Legacy ith an estimated market potential “The Center provides unparalleled Wof as much as $9 billion targeted experiences for our students and faculty toward impact investments, and an to participate directly in solving some of additional $1 trillion in philanthropic the world’s thorniest and most persistent assets looking for new solutions to long- societal problems,” said University of term problems, many are wondering Utah President David Pershing. “It will if impact investing is experiencing its be a global leader in the creation of new “mainstream moment.” knowledge of how to solve widespread structural problems.” The David Eccles School of Business is doing its part to help this industry take Like their venture capitalist counterparts, center stage with the creation of a one-of- impact investors seek a financial return a-kind student impact investing center. on their investments, while also pursuing a double bottom line—generating Established in January of this year, the sustainable social and/or environmental James Lee Sorenson Global Impact change. Investing Center—SGII Center, more succinctly—builds upon the David Eccles In training the next generation of School of Business’ legacy of innovation entrepreneurial and investment leaders, and social impact. the SGII Center goes beyond simply writing research papers—it emphasizes Made possible by a $13 million personal real-world, hands-on experience for gift from world-renowned entrepreneur students while providing a platform of and philanthropist James Lee Sorenson, useful services such as deal sourcing, the SGII Center engages students and due diligence, market research, financial faculty at the University of Utah and modeling and analysis of social enterprises surrounding universities in creating for impact investors and philanthropies sustainable change around the world around the world. through high-impact social investment, innovative philanthropy, industry- Housed in the Spencer Fox Eccles leading research and related curriculum Business Building, the SGII Center will development. train students in how to identify and take advantage of opportunities for 4 ECCLES EXCHANGE | SUMMER 2013 | The David Eccles School of Business transformative investment and social One of the most significant benefits for entrepreneurship. students and faculty at the SGII Center is the active engagement of Sorenson, one of Undergraduate and graduate students— Photo: Webb Karalee the nation’s great transformative business studying in colleges ranging from business leaders. to medicine to engineering—not only interact with industry leaders in the “It is an honor to participate in this venture, space, but also are tasked to evaluate which has the potential to improve the companies and identify whether they quality of life for countless individuals possess a compelling investment thesis throughout the world,” Sorenson said. for foundations and impact investors. Sorenson has built a multi-faceted business These investments can take the form The center provides empire in diverse areas ranging from of foundation-based program related high tech and life sciences to real estate investments to large bank-backed senior unparalleled experiences development, and has helped develop debt, all driving to create both financial and for our students and faculty several new industry categories. social/environmental returns. to participate directly in Social entrepreneurs are not only found, solving some of the world’s As CEO of Sorenson Media, Sorenson built they are created, insists Sorenson. thorniest and most persistent a team that developed the world’s leading digital compression software, which “This Center is a place that will be a societal problems. played a crucial role in the emergence beacon for individuals who want to make and prominence of video compression Legacy a difference,” Sorenson said. “This is where Sierra Leone, Ghana, Kenya, Cambodia, technology in Apple QuickTime, Adobe aspiring social entrepreneurs can come Brazil and other regions of significant Flash and YouTube. and receive the help and connections that economic need and opportunity. will help them attract investors so that their He also founded Sorenson businesses can succeed and grow to make On the research side, the Center will Communications, which became the the world a better place.” further work for the benefit of humanity world’s largest deaf services company, by publishing reports and studies to share transforming ease of communication The SGII Center will address problems the knowledge it develops with a global between deaf and hearing individuals that run the societal gamut, from audience. through a novel video relay service. healthcare and education to housing, sustainable and green energy, agriculture Sorenson’s $13 million donation also In 2005, the company was acquired in and entrepreneurial livelihood training sponsors two endowed faculty chairs and the most lucrative private equity deal in and development. creates approximately $120,000 in annual Utah history up to that time. Sorenson scholarships, which will be distributed to Communications remains the nation’s It will cast a wide geographic net, from the undergraduate and graduate students as preeminent provider of video relay United States and India to China, Nepal, early as this fall. Continued on page 6 Photo: Webb Karalee (left to right) Dean Taylor Randall, James Sorenson, University of Utah President David Pershing, Lewis Hower The David Eccles School of Business | SUMMER 2013 | ECCLES EXCHANGE 5 A Growing Legacy cont. services and Utah’s leading technology company, with thousands of employees nationwide. Sorenson notes that the Center is an opportunity to apply on a greater scale the lessons he learned about high-impact societal change at Sorenson Communications. “The major risk we made in time, energy and money there yielded extraordinary social returns in opening new personal and professional capabilities for deaf and hard of hearing individuals,” he said. In addition to playing an active role in setting the direction for the SGII Center, Sorenson will mentor its student participants to cultivate expertise in impact investment. Teams of students will have the opportunity to present investment opportunities to Sorenson and his foundations and gain valuable insight. Sorenson’s investment experience runs deep, having co- founded Sorenson Capital, a leading Utah mid-market private equity firm, in 2004.