153985.COVER.qx6 12/29/052:50PMPage1 617.253.3989 02139-1014 MA Cambridge, E60-300 77 Massachusetts Avenue, Office of Resource Development Sloan School of Management MIT I Sloan School of Management MIT leaders whoimprove theworld innovative Developing principled, management practice ideas thatenhance togenerate Collaborating

Annual report n n nnnn 2005n nnnnn 153985.COVER.qx6 12/29/05 2:29 PM Page 2 Developing principled, innovative leaders

The ground-shaping observations of Pythagoras, Aristotle, and Eratosthenes to one side, author Thomas L. Friedman tells us in The New York Times Richard Schmalensee that the world is flat. As a result of political and John C Head III Dean technological developments, geographic and temporal distances are shrinking. Ironically, our flat planet also seems to be spinning faster; because we can reach farther, faster, there are increasing expectations that we reach farther still, and more quickly.

But change by itself, while inevitable, is not necessarily positive. Increased speed doesn’t immediately foster sounder judgment. MIT Sloan has always been at the forefront of change, but we take the time to understand, manage, and harness change––and to couple speed with thoughtfulness.

Uniquely located at the intersection of science, management, and technology, MIT Sloan has, since its beginnings in 1914, always been about progress and change––anticipating it, responding to it, driving it. And, while as an institution we’re known for innovation, entrepreneurship, and global leadership, it’s the people of the MIT Sloan community who have done, and are doing, the real work; their efforts have earned us our reputation.

This report is about the people of MIT Sloan, those who through research, rigorous discourse, and unbounded enthusiasm teach, foster, evaluate, and create change across our flat planet. This report is about our community: students, faculty, staff, alumni, volunteers, donors, and partners––it’s about principled, innovative leaders who improve the world. Generating tomorrow’s theories and practices—today

We are an engaged, passionate community. Wherever you look, the energy is palpable––and irresistible. During orientation, MBA students learn about themselves, how to learn from others, and are immersed (sometimes, literally) in the cross-dimensional dilemmas of management by building rafts. Global Entrepreneurship Laboratory (G-Lab) teams study the challenges of balancing profitability with fair labor practices and are driven by the knowledge that the impact of a successful startup in rural Brazil can ripple across continents. Biotechnology receptions hosted by the MIT Entrepreneurship Center both in Cambridge, Massachusetts, and Cambridge, England, barely have standing room.

Alumni from around the globe gather at our 2005 Convocation to celebrate anniversaries of two programs that have helped shape the School’s history and identity: the MIT Sloan Fellows program is 75 and the Management of Technology program is 25. These two pioneering programs are now integrated into the MIT Sloan Fellows Program in Innovation and Global Leadership. Bringing together faculty and students expert in science, technology, and management, MIT Sloan’s Executive Education programs connect proven theory and actionable practices to help managers advance their careers, drive innovation, and lead positive change.

A new undergraduate minor in management was launched this fall. Its goal is to provide students in science and engineering disciplines with a better understanding of the economic, business, social, and organizational dimensions of scientific and technological endeavors. Funded anonymously, this program will have national impact and will make it possible for new ideas, across the campus, to more effectively get to market––and to make a difference. MIT President Susan Hockfield heralded the program as “one of the major undergraduate educational innovations at MIT of this decade … setting a standard for other universities.”

Our faculty tackle complex strategic, financial, organizational, and operational problems from every conceivable angle––adding to and connecting theory and practice around the globe. PhD students, in concert with faculty, explore new frontiers that will yield tomorrow’s competitive advantage––and bring to universities and organizations around the world the curiosity and expert- ise they’ve honed at MIT Sloan. And all across the campus, there’s an enthusiasm, a collaborative spirit, an intellectual rigor, and a desire to make a real difference that both define MIT Sloan and simultaneously infuse the School with the energy and ideas to continually move forward.

From Dean Schmalensee 2 Effecting positive change worldwide: MIT Sloan Global Entrepreneurship Laboratory

Since it began in 2001, MIT Sloan’s closely with the company’s entre- Global Entrepreneurship Laboratory preneurial leadership and—for (G-Lab) has revolutionized the way the duration of their internships— entrepreneurship is taught—and will provide analytical thinking and practiced. The six-month-long problem-solving expertise to the course embodies the School’s mis- company. Students prepare a final sion, To develop principled innova- report for their host companies tive leaders who improve the world before returning to campus and and to generate ideas that advance upon returning, present these management practice. G-Lab works reports to the class for discussion toward that mission in two practical and debate. These “live cases” are ways: by giving MIT Sloan students an important source of learning an exceptional opportunity to work and feedback for the students. on real-world strategic challenges In some cases, the management at startup organizations around the of the companies they have worked world, and by partnering with entre- with travel to Cambridge to attend Mary Puma preneurs throughout the world who or participate in these presentations. SM, 1981 are building companies that help Chairman and CEO support sustainable development in This kind of direct student involve- Axcelis Technologies innovative ways. ment in sustainable economic endeavors around the globe is Eivind Lange III Led by Professor Richard M. Locke, unique to MIT Sloan. In just five SM, 1981 Alvin J. Siteman Professor of Entre- years, G-Lab has grown into one of President preneurship and Political Science, the School’s most popular elective Paradigm Sports the G-Lab course involves intensive courses. This fall, two sections, study in addition to fieldwork. enrolling a total of 152 students, Beginning in the fall, students are will be offered. However, even with immersed in an intensive “crash this increase, there is still a long course” on global markets, politics, waiting list of students. In many Perhaps it was something in the Cambridge air that year: the and the challenges facing startup ways, G-Lab has become a hub of 1981 MIT Sloan MBA class holds the notable distinction of companies throughout the world. the very innovation and leadership producing six couples who married after graduation. One of By early October, student teams are that characterize MIT Sloan. Says those couples, Mary Puma and Eivind Lange III, find them- assigned individual companies and Locke: “Only at MIT Sloan could we selves reflecting on their time at MIT Sloan and their lives through conference calls, e-mail move from altruistic brainstorming together since graduation as they look forward to their 25th exchanges, etc., work closely with to in-the-field implementation in a class reunion. Serving as members of their reunion giving each company’s management to few short months. Student teams committee, both are inspired to give back to the School in define precise, deliverable objec- in the Global Entrepreneurship appreciation for the superb management training that has tives and conduct substantial back- Laboratory have offered exciting, helped them achieve top positions in their respective ground research for their projects. imaginative, and—perhaps most careers—Puma as chairman and CEO of Axcelis Technologies The heart of the Global Entrepre- important—effective changes in and Lange as president of Paradigm Sports. neurship Lab is a three-week intern- the way startups around the globe ship on location outside the U.S. conduct business.” Lange and Puma are grateful for where their MIT Sloan experi- Ideally, the students will work ence and their subsequent life together have taken them. Reflects Lange, “The MIT Sloan degree really opened a lot of doors. Both the reputation of the School and the incredible alumni network were, and continue to be, huge assets.”Puma adds, “MIT Sloan excels at providing learning in the two key areas necessary for professional success. First, MIT Sloan teaches the basic functional management skills—and teaches them well. Second, and perhaps more important, a strong emphasis is placed on the less quantifiable piece—the people and leadership skills.”

Puma enjoys a continuing connection to the School through her company’s partnership with the MIT Sloan Leaders for Manufacturing program and her new appointment to the MIT Sloan Dean’s Advisory Council. Both Puma and Lange remain committed to furthering the mission of the School through their 25th reunion giving committee. They are looking forward to returning to the School this June to reconnect with classmates and celebrate their myriad collective successes. Professor Richard M. Locke

3 Evolving a unique institution and experience

Our mission is to “develop principled, innovative leaders who improve the world and to generate ideas that advance management practice.” We value innovation, encourage entrepreneurial spirit, and foster leadership. But these are more than words. Striving toward our mission informs how we teach, what we look for in students, what drives our research, and how, in fact, we run the School.

We are driving ethics through the core curriculum. Ethics at MIT Sloan is not an add-on; it’s a way of thinking and doing that infuses the entire educational experience. Technological advances increase the speed of all our actions, and our reach, but not necessarily our judgment. Ensuring that our students look at challenges and actions through an ethical lens is of critical importance.

We are also stepping back and reviewing what we teach, when, and how. Our big-picture goal is to answer: Given a clean slate, post-Enron and post-Katrina, cognizant of the criticism of management education in this country, what would we do differently? We want to make sure that what we’re offering is more than relevant––that what we’re researching and teaching connects with the future needs and goals of for-profit and not-for-profit organizations—and the world. We want to make sure that our students are equipped to lead positive change.

To help in this period of introspection, we’re engaging in an ongoing dialogue with thoughtful industry leaders. We’ve convened the Alfred P. Sloan Management Society, a group of extra- ordinary men and women who will serve as an informal sounding board for me, our administrators, and our faculty. Already, they are making their presence known on campus: guest lecturing and engaging in discussions that will help to frame the future.

New programs and initiatives also anticipate and drive change. Launched to great success in 2005, our newest executive program, Leading Innovative Enterprises, Strategies for Growth in the Life Sciences, provides the next generation of life sciences leaders with the business strategies, tools, and integrated perspectives needed to guide organizations in the complex life sciences fields––and looks at new models to create and capture value. The programs and opportunities afforded by the MIT Entrepreneurship Center and the newly established MIT Leadership Center prove further that, more than just talking about it, we live our mission every day.

From Dean Schmalensee 4 Developing leaders, transforming industry: MIT Sloan / BP Projects Academy

Following a series of major acquisi- More than 150 BP managers have tions, BP, one of the leaders in the participated in Projects Academy global energy business, found that thus far. “The major projects man- it was managing more than 50 agers who attend the Projects large scale projects, each repre- Academy are very smart people,” senting more than $500 million in says Eiter. “Most are engineers, but investments. Not only did this few have MBAs; so what we do is represent one of the largest capital to help them enlarge their vision expenditure programs in the world, and put what they do into a bigger but also the project managers from context. Managers who go through the many heritage companies were the Projects Academy now see scattered across the globe, largely themselves as leaders of organiza- unknown to each other or to BP’s tions, rather than as people who senior leadership. BP decided the get projects done. This is a terrific time was right to build a new kind outcome, since the organization of major projects community. is indeed expecting great things Yvonne Jones from them.” SF, 1988 “When BP came to us, they had Director of Financial Markets and Community Investment Team three goals,” says Marie T. Eiter, A demonstrable success in just its Government Accountability Office executive director of the MIT Sloan second year, Projects Academy has Executive Education program. already created positive changes “They wanted to develop the best in the way BP manages major current and future major project projects. In 2004, BP recognized leaders; they wanted to create a Projects Academy with its distin- deep sense of the BP projects guished Helios Partnership award. community; and they wanted to “Projects Academy is sending out strengthen the connection between a powerful message about us as major project leaders and senior an organization,” said the award leadership.” citation. “It’s telling the world that Yvonne Jones was working for the World Bank when she we believe in progress, that we care attended the MIT Sloan Fellows Program in 1987–88. She In response to this need, MIT Sloan about being the best, and that chose MIT Sloan then, she says, for its emphasis on the tech- and BP jointly designed a unique we’re motivated to keep looking nical side of economics and finance, and because unlike executive education program called for new solutions at every level most other programs, it allowed Fellows to write a thesis Projects Academy, which has quick- of business.” during the one-year program. The World Bank “respected ly become the premier program of credentials from a research-oriented university,”she says. its kind. Managers selected to par- As for the message Projects Acade- “A thesis showed them that you had done a lot of thinking ticipate in the Projects Academy my sends out about MIT Sloan, and research.” travel to MIT for three two-week Eiter says, “It shows that our facul- terms, addressing topics such as ty do incredible research and have Jones’s year at MIT Sloan provided her with a new analytical leadership, strategy, and risk man- developed tools and ways of think- approach to business. As a result, she moved from the edu- agement. In between their stays at ing about organizational issues that cational position at the World Bank to a financial position MIT Sloan, they apply the concepts have a direct application to busi- that arranged debt reduction programs for developing coun- learned in the residential session nesses. People have always recog- tries. Continuing on a career path marked by a commitment to specific challenges within BP. nized MIT as the finest research to public service, Jones currently holds a post at the Govern- The goal of Projects Academy is institution; now they’re recognizing ment Accountability Office. There, she applies her strategic transformation—transformation of us as the finest in executive educa- and quantitative business skills to congressional mandates an industry through innovation, tion programs as well.” and requests. transformation of an organization by increasing capital productivity, Nearly 20 years since graduation, Jones remains actively and transformation of individuals involved with the School: She served on the Board of Gover- by bringing out their finest leader- nors for the MIT Sloan Fellows Program from 1999 to 2005; ship qualities. and she has attended all but one Convocation since she graduated. Her fellowship gave her not just a professional leg-up, Jones concludes, but also a personal appreciation for being affiliated with the institution. “MIT is one of a few remarkable places where people who are very smart and cre- ative are doing research on things that affect people’s lives on a day-to-day basis.”

BP Projects Academy

5 Making a difference: around the corner and around the globe

Our faculty, students, and alumni continue to change the landscape—in boardrooms and classrooms, for venerable corporate giants and startups, around the corner and around the globe.

In 1996, MIT Sloan established the MIT-China Management Education Project; the vision was to prepare faculty at Chinese institutions to build world-class MBA programs at their own universities and to create opportunities for MIT Sloan faculty, students, and staff to better understand Chinese-based economies. More than 100 professors from four Chinese universities have come to Cambridge. Now, through the International Faculty Fellows program, faculty from Korean, Mexican, and African universities come to MIT Sloan to see firsthand how business is taught at MIT––and to bring best practices back to their countries. Emmanuel Dugbenoo, a professor from Ghana’s leading management school, is a Fellow this year, the second one to come from his university.

Our faculty are engaged in the world’s most pressing management problems. Some examples: Professor Glen Urban’s trust-based marketing research is transforming corporate culture and best business practice worldwide. In his new book, Urban offers a comprehensive game plan for attaining customer trust and details the competitive benefits of doing so.

According to Professor Thomas W. Malone, in his book, The Future of Work, CEOs are becoming less important, much like formerly traditional monarchs who now have parliamentary systems to which they must answer. Professor C. Otto Scharmer’s work on innovation, which he calls “Theory-U,” looks to Zen Buddhism and other related Eastern philosophies to help leaders confront modern problems. And Professor Paul Asquith, who specializes in corporate finance, has been examining analysts’ forecasts and market efficiency.

Professor Thomas Kochan, in his new book, Restoring the American Dream: A Working Families’ Agenda for America, focuses on the need to update America’s work and employment policies, institutions, and practices to catch up with a changing workforce and economy. Professor Shane Frederick has developed a new, three-item aptitude test to rival the SAT that measures people’s ability to resist their first instinct.

From Dean Schmalensee 6 Responding to student demand: New course on nonprofit management

You might be surprised to learn Paul F. Levy, SM ’74, president and that until last year, MIT Sloan had CEO of Beth Israel Deaconess Med- never offered a course in the man- ical Center; and the class on non- agement of nonprofit organiza- profit arts institutions featured the tions. That’s when a recent executive director of the American upsurge in student demand met Repertory Theatre, Robert J. the expertise of Paul Osterman, Orchard. “We had a very high level deputy dean at MIT Sloan, and the of speakers,” says Osterman. “Their inaugural course of Nonprofit Man- perspectives gave real weight to agement was born. each discussion.”

“There certainly was a large unmet Osterman describes his own demand for this kind of course,” research as “consisting of two confirms Osterman. “That does halves.” He is interested in both not mean, however, that MIT Sloan organizational change within large students will now be going into corporations and issues of eco- Roberto Bequillard nonprofit management immediate- nomic development, urban poverty, SM, 1986 ly and in droves. What it does mean and labor market policies. A former Cofounder, President, and Chief Operating Officer is that throughout their careers, senior administrator of job training The Argus Group most of our students will be programs for the Commonwealth involved as volunteers or on the of Massachusetts, he consults boards of these organizations; and widely with government agencies, they recognized that they were foundations, community groups, going to need this knowledge.” firms, and public-interest organiza- tions. His most recent books are Osterman organized his course Securing Prosperity: How the around nonprofit management American Labor Market Has cases and prominent guest speak- Changed and What to Do About It ers who could illuminate the issues and Gathering Power: The Future of Such is the quality of an MIT Sloan education, that an MBA at hand. Each class consisted of a Progressive Politics in America. thesis can launch a multinational company. Roberto Bequillard’s case discussion led by Osterman or thesis, “Sourcing Opportunities in the Apparel Industry for the by MIT Sloan alumnus and presi- With excellent reviews following his U.S. Market,”envisioned expanding profits within the American dent of the John Snow Institute, course’s debut, Osterman and apparel industry by outsourcing manufacturing to developing Joel Lamstein. The case was fol- Lamstein will be offering Nonprofit countries. Five years after graduating, Bequillard had the oppor- lowed by reflections from a guest. Management again this year. “The tunity to make his thesis a reality when he founded The Argus The class on university gover- nonprofit sector is a large and Group. nance, for example, was joined by important area of study,” says Lawrence S. Bacow SB ’72, presi- Osterman. “Just because an organi- Inspired by his American business training and Nicaraguan dent of Tufts University; the class zation is nonprofit doesn’t mean roots, Bequillard has built an enterprise whose success depends on organizational change featured that it isn’t interested in good on an understanding of both corporate concerns and local management.” economies. As his company has grown, today employing over 6,000 people in El Salvador and Nicaragua, Bequillard has kept his eye on more than the bottom line. Knowing that employees were struggling with the effects of poverty and war, he began onsite childcare and subsidized meal programs. The company then developed, in partnership with the government of El Sal- vador, a fully accredited school that now educates 800 stu- dents. The company also provides such benefits as eye exams and glasses, as well as onsite medical clinics.

Training and taking care of the workers “of course benefits the bottom line,”Bequillard says. “But it also positively impacts these societies. We want to be an example of how poor economies can partner with entrepreneurs to improve overall social conditions.”

Professor Paul Osterman And, he has been recognized for his efforts: Argus has won the Nicaraguan Presidential Award on Social Responsibility six years in a row. The germ of the idea in an MIT Sloan thesis has grown into a company that is not only financially successful, but also, as Bequillard puts it, “one that makes a difference in the lives of so many people in countries where making a difference really matters.” 7 Our faculty are often honored. A few examples: Professor Antoinette Schoar, along with her coauthor Josh Lerner, won the NASDAQ Best Paper Prize for “Private Equity in the Developing World: The Determinants of Transaction Structures.” Professor Stewart C. Myers, whose research focuses on the theory and practice of corporate finance, has been honored by being named by the Financial Management Association as one of two FMA Fellows for the year 2005. Professor Fiona Murray has been named one of six outstanding young scholars to receive a Sloan Industry Studies Fellowship for 2005 from the Alfred P. Sloan Foundation. And Professor Kristin J. Forbes, whose research addresses policy-related questions in international finance and development economics, has returned to us; from 2003 to 2005, she served as a member of the White House’s Council of Economic Advisers (the youngest person to ever hold this position).

The School’s culture of innovation and entrepreneurship also inspires students’ imagination––they invent new products, start companies, and improve the lives of people around the globe. G-Lab teams pair with organizations and their CEOs to help solve the real-world problems that keep CEOs awake at night. MIT Sloan’s Global Entrepreneurship Laboratory (G-Lab) has inspired students to work around the globe: Liesbet Peeters of Belgium (MBA ’05) is helping entrepreneurs in Africa from her position at the World Bank; Nathalie Butcher (MBA ’06) spent last summer in Jakarta helping to rebuild businesses in the areas most devastated by the tsunami. On this continent, Kara Penn (MBA ’07) dug in immediately after Hurricane Katrina to organize a disaster relief effort among her newly arriving classmates.

MIT Sloan exports innovation, leadership, and entrepreneurial drive. Alumnus Thad W. Allen (SF ’89), a U.S. Coast Guard vice admiral and the Coast Guard chief of staff, is now managing the aftermath of Hurricane Katrina. MIT Sloan Fellow Bruce S. Gordon (SF ’88) recently assumed leadership of the NAACP, the nation’s oldest and most powerful civil rights group. Hailed as the “Turnaround King” of the arts world, Michael Kaiser (SM ’77), now president of the Kennedy Center, has made a career out of revitalizing troubled arts organizations at a time when funding for the arts has been scarce. And, closer to home, Aaron Kleiner (SB ’69, SM ’70) is the first recipient of the Adolf F. Monosson Prize for Entrepreneurial Mentoring. Kleiner is the cofounder and former chair of the MIT Enterprise Forum, Inc., a not-for-profit organization based out of MIT that, since its launch in 1978, has promoted and strengthened the process of starting and growing innovative, technology-oriented companies.

Faculty, students, alumni, and the interaction among them all actively demonstrate MIT’s philosophy of Mens et Manus—connecting mind to hand, theory to practice. As members of our community, they regularly turn concept into reality, dreaming into doing.

From Dean Schmalensee 8 Opening up whole new vistas: Career Development Professorships

Who owns your DNA? You’re proba- many outside of MIT Sloan also bly assuming that you do, but agree that Murray is going in the MIT Sloan Professor Fiona Murray right direction—as of this publica- has created a database that will tion’s printing, Murray’s research have you thinking otherwise. Work- had been highlighted in Science, ing with a postdoctoral student in The Wall Street Journal, and bioinformatics, Murray has devel- National Geographic. oped a unique dataset that docu- ments all known human genes and “It’s incredibly energizing,” agrees links them to patents issued in the Professor Shane Frederick, who United States. “There are 23,000 received the Sarofim Family Career genes,” she says, “and so far we Development Professorship last have found that 20 percent are year. “Just when you might be flag- patented. We’ve been able to pro- ging a bit, you receive both encour- vide a precise picture of the extent agement and a whole year’s worth to which the human genome is sub- of funding. At the same time, it Peter Graham ject to intellectual property rights.” makes me step back and think SM, 1961 about which research projects Retired Vice President of Operations Critical to Murray’s groundbreaking might make a difference.” Procter & Gamble research was the funding she received from the Class of 1922 An assistant professor at MIT Sloan, Career Development Professorship, Frederick earned a PhD in decision which allowed her to hire a graduate sciences, which he describes as a assistant and purchase technology hybrid between psychology and eco- resources. Special awards for junior nomics. He has developed a series faculty members, Career Develop- of questions that expose the fallibil- ment Professorships recognize ity of our first instinct. (Try the fol- those scholars whose research lowing question: A bat and a ball promises to make a fundamental cost $1.10 in total. The bat costs a As a young management student, Peter Graham gained a life contribution to a field of broad dollar more than the ball. How much lesson from the academic rigor and high expectations of his importance to society at large. does the ball cost? Answer below.*) studies at MIT Sloan. “The School ratcheted up my standard of what to expect of myself,”he says. “It fundamentally “Being at MIT, there is always pres- Frederick has also researched how changed my perspective of the amount of effort that I want- sure. One is expected to contribute people make predictions about oth- ed to put into things—it totally raised the bar for me.”That to the world, but a career develop- ers. “For example, I’ll ask my stu- work ethic sustained him as he worked several jobs while at ment professorship is a welcome dents how much they are willing to MIT Sloan to support his studies. kind of pressure,” says Murray, who pay for a product, and nearly every- teaches Strategic Decision Making one thinks that others will pay the In honor of the amazing education Graham received, he sup- in the Life Sciences and conducts same as they will, or more. This can ports MIT Sloan fellowships to ensure that other motivated, additional research on the boundary be very dangerous for a marketer, hardworking students can have the same opportunity he did. between science and the world of so I try to teach students not to “Going to MIT Sloan fundamentally changed the course of commerce. “It’s for people who are become trapped in their own per- my life, and it’s unacceptable to me to think that a young trying to open up whole new vistas, spectives. Just because you love person who has the talent could not go to MIT Sloan because and that’s what I’m trying to do. ceramic apples and would pay $20 of money. Thank God the School feels the same way.”MIT This professorship says, ‘Yes, you’re for one, doesn’t mean anyone else Sloan deserves financial support, Graham believes, because going in the right direction.’” And will!” it has, quite simply, changed the world. “I believe from the bottom of my heart that MIT in general and MIT Sloan in par- *Answer: 5 cents. What was your first ticular provide an education that has fundamentally changed instinct? More than half of the 3,000 the way this world operates. I don’t think I can say that about students to whom Frederick posed the any other educational institution. Keeping that going is fun- question answered 10 cents. damental to the well-being of six billion people.”

Professor Fiona Murray, Professor Shane Frederick

9 Collaborating to innovate and lead

Integral to everything MIT Sloan does and stands for is the extraordinary teamwork that permeates all levels of life at the School. Bringing different experiences, from different geographies, at different career points, active and questioning minds come together here to define problems, forge solutions, and redraw boundaries of thought and practice. This is not a place for lone opera- tors; rather, the MIT Sloan community is made up of people who recognize the vital importance of contributing to something larger than themselves and who have the skills to lead positive change.

Among MBA and MIT Sloan Fellow students, teamwork is not just a buzzword; it is a fundamental component of their education. From the start, students are organized in teams that take advantage of the student body’s remarkable diversity to develop cross-cultural understanding, skills, and cooperation. Some 150 visiting speakers––many of them alumni––add their insight and experience to the ongoing collaborative enterprise.

More than 50 student clubs––from Women in Management to the Innovative Government Club, MediaTech to Significant Others of Sloan––enrich our community and provide educational, social, cultural, and career opportunities. The MIT Sloan Leadership Club recently sponsored eight MBA students on a 10-day trek through the mountainous regions of Patagonia. The goal: develop the leadership and team skills that are needed to effectively manage crises and high-pressure situations in the business world––outside one’s normal comfort zone. The Socially Responsible Business Club raised money to give students paid internships with not-for-profit organizations. The MIT Innovation Club and the MIT Sloan Entrepreneurs Club jointly sponsored Iron Entrepreneur, a business plan competition modeled on the fast-paced television show, Iron Chef.

We continue to reach across disciplines and traditional boundaries to develop programs and opportunities that reflect and anticipate our changing world. The MIT Leaders for Manufacturing program is a uniquely effective partnership of MIT Sloan, the MIT School of Engineering, and industry partners from around the world. Rigorous academic training, paired with hands-on experience, empower early-career manufacturing professionals with the knowledge, tools, and support they need to strengthen, lead, and transform industry.

The Biomedical Enterprise Program, a collaboration between MIT Sloan and Harvard–MIT Division of Health Sciences and Technology, helps entrepreneurial leaders in both MBA and

From Dean Schmalensee 10 Defining leadership, developing leaders: MIT Leadership Center

With terrorism, war, and natural MIT Mechanical Engineering Pro- disasters filling the pages of the fessor Woodie Flowers led another nation’s newspapers, the subject session with emerging leaders— of leadership has sparked intense four entrepreneurial students talk- discussion and debate. What is ing about initiatives they are lead- leadership? What qualities make ing to address global challenges a great leader? from Cambridge, Massachusetts, to Ghana and the Middle East. Says At MIT Sloan, the MIT Leadership graduate student Tim Heidel, “Stu- Center, which publicly launched in dents who have ideas or have the October 2005, brings the talents impulse to be leaders will be able and resources of MIT faculty, staff, to get more formal leadership and students to bear on these and training, rather than learning on other questions, equipping individu- the job.” Heidel sees the center as als and organizations to take on the the key to facilitating educational world’s most pressing issues. The opportunities to develop more Jerry Bailey Center is dedicated to creating leadership skills. SM, 1979 theories, tools, and action-oriented Principal curricula to enable leaders to cre- The MIT Leadership Center is dis- Caltex Services ate positive social change. tinguished both by its commitment to distributed leadership—viewing “Now, more than ever, MIT has the it as vital at all levels of an organi- opportunity and responsibility to zation, rather than simply the develop the management and lead- purview of a CEO at the top—and ership capabilities that will make a by its reach across all MIT Schools difference in the world,” says Mary and disciplines. The center con- Schaefer, executive director. “MIT ducts cutting-edge research, craft- has always contributed to the ing tools and curricula designed to advancement of science, engineer- give students hands-on training When he arrived at MIT Sloan in 1977,Jerry Bailey, SM ’79, a ing, and management, but we are that combines theory with prac- practicing attorney and undergraduate liberal arts major, now combining our traditional tice. The center also serves as a was “not your typical MIT Sloan student.”Yet, he found the expertise with a methodical and bridge linking and leveraging the School to be just the right environment to bring together rigorous approach to developing many leadership opportunities his different academic and professional interests. It was an leaders. We believe this critical across the Institute. MIT-sponsored summer internship in Venezuela that pro- combination—leveraging the best pelled him to a career in international business. There, Bailey of MIT—is much needed in the “For decades, men and women with discovered how to bridge international and cultural barriers world today.” passion, principles, and purpose to complete a project; and after graduating, he parlayed that have emerged from our ranks to insight and his MIT Sloan training into several international Dubbed the Passion to Action Sum- tackle some of mankind’s most positions with Texaco. He says, “I have constantly used that mit, the public launch celebrated daunting challenges,” says Deborah background to foster business relationships abroad, and the the lives and accomplishments of G. Ancona, faculty director of the logic taught throughout the MIT Sloan curriculum provided many MIT-trained leaders. Many center. “That’s not enough. We me with invaluable decision-making tools.”Generous with his well-known leaders, including Bob must apply the same rigorous praise for the School, Bailey also offers his time and contri- Langer, biotech pioneer; Phil Sharp, examination and discipline to butions. He remains involved with BAMIT (Black Alumni of Nobel prize-winning biologist; and developing leadership as we apply MIT), is one of the planning leaders for the MIT Enterprise Bob Metcalfe, inventor of the Ether- in all fields at MIT. We cannot leave Forum in Florida, and was the cochair of his 25th reunion net, spent the day sparring and it to chance. That’s where the MIT class fundraising effort in 2004. exploring the leadership require- Leadership Center comes in.” ments in a technology-driven, Reflecting on his 26 years since graduating from MIT Sloan, complex world. Bailey says that perhaps what he appreciates most from his education is that it has given him the perspective and ability to strike a balance between his career and his personal inter- ests. “People assume that when you go to business school, The MIT Leadership you will be on a certain professional track,”he comments. Center Launch: “MIT Sloan teaches you that you have many career options Passion to Action Summit open to you. Whatever you want to do, MIT Sloan prepares you to do it very well.”

11 MIT Sloan Fellows programs to build and manage successful, innovative biomedical ventures. Its unique curriculum, integrating training in medicine, business, and biotechnology, helps students lead new waves of innovation in the life sciences. A three-year, dual-degree program with the John F. Kennedy School of Government at Harvard University allows students to earn both MBA and MPA/MPP degrees, training them for careers in public policy and service.

The MIT Center for Biomedical Innovation (CBI) is a new collaboration involving faculty from the MIT Schools of Engineering, Management, and Science; the Harvard‒MIT Division of Health Sciences & Technology (HST); and their counterparts in government and industry. CBI is identifying, researching, and enabling the implementation of innovative methodologies and approaches that will transform the discovery, development, and distribution of accessible therapeutics, diagnostics, and medical devices.

The MIT Entrepreneurship Center is working with Denmark’s Minister of Science to put in place a plan that will encourage the incubation and growth of high-tech companies in that country. Deputy Dean Steven D. Eppinger’s highly innovative, interactive, and interdisciplinary Product Design and Development class brings together students from MIT Sloan, the MIT School of Engineering, the Leaders for Manufacturing and System Design and Management programs (LFM/SDM Partnership), and the Rhode Island School of Design to create new tools for living––and new processes for thinking.

As director of the Laboratory for Financial Engineering, a partnership between academia and industry, Professor Andrew W. Lo is investigating how the physiology of risk-based decision making affects financial markets and how physiological and emotional characteristics influence financial decision making and the outcomes of trading. For this research, he attaches sensors to traders and tracks the biofeedback.

From the moment—more than 50 years ago—when Alfred P. Sloan, Jr., asked management guru Douglas McGregor whether effective managers were born or made, MIT has stood at the forefront of leadership education and research. Professors Deborah G. Ancona, Wanda J. Orlikowski, and Thomas W. Malone––with Senior Lecturer Peter M. Senge––have evolved the MIT Leadership Center, an engine that drives the discovery and sharing of effective leadership thinking and practices.

The collaborative flow of ideas and the ready access to the rest of MIT make MIT Sloan a magnet for some of the most creative, out-of-the-box thinkers in the world. Our community values risk taking and innovation. In an interdisciplinary, collaborative environment, new research and vision are always encouraged. Our students and graduates are motivated and prepared to improve themselves, their organizations, their communities, and the world.

From Dean Schmalensee 12 Creating a new way to relieve suffering: MIT $50K Entrepreneurship Competition

As a physician specializing in chronic Perhaps the keenest expression inflammatory diseases, Murat V. of MIT’s motto, Mens et Manus, or Kalayoglu found himself treating 80 mind and hand, the MIT $50K patients a day, each for just a few Entrepreneurship Competition minutes at a time. Dissatisfied with offers MIT students and what he saw as bureaucratic routine, researchers the opportunity to but still passionate about public work together across disciplines health, Kalayoglu began “thinking and use their talents to produce hard” about a new direction. Today, tomorrow’s leading firms. Since its this second-year MIT Sloan MBA stu- founding in 1990, the MIT $50K has dent has set his sights on controlling created 60 companies, which in healthcare costs, while relieving the turn have generated more than suffering of millions every year. 1,800 jobs and received $175 mil- lion in venture capital funding. “I have always loved the concept of Graduate and undergraduate stu- entrepreneurship, of creating some- dents from every MIT School and Armando Santacruz thing out of nothing,” says Kalayoglu, 27 departments have participated. SM, 1954 who also holds a PhD in medical The competition has produced General Manager microbiology and immunology. “Now many successful firms, including Vinilos Romay SA I have the ability to make a tremen- Akamai, which now has a market dous and immediate impact on large cap of $3.6 billion; the technology numbers of people by developing consulting company C-Bridge, list- something in which I believe.” ed on NASDAQ; and Silicon Spice, which was acquired in 2000 by What Kalayoglu believes in is Previva, Broadcom for $1.19 billion. the business that he and a team of four others with backgrounds in The 2005 MIT $50K Competition medicine, engineering, software was won by Balico, who presented design, and the health care industry their plan to develop and commer- A member of the first graduating class of the MIT Sloan developed for the 2005 MIT $50K cialize a wearable vibrotactile bal- School of Management, Armando Santacruz was invited to Entrepreneurship Competition. One ance aid that accurately senses join the School’s namesake, Alfred P. Sloan, Jr., for a gradua- of seven finalists selected from and displays body tilt to help pre- tion dinner. Santacruz recalls, “Mr. Sloan ushered us over 100 entrants, Previva, a medical vent falls. “The competition was through the academic world and welcomed us into the busi- device company, provides remote certainly intense,” says Kalayoglu, ness world. His engagement in the School and its students patient monitoring to treat chronic whose Previva team was among the set an example for me and my lifelong commitment to man- diseases, such as arthritis, asthma, finalists, “especially in the biotech agement education.”In 2004, as he proudly celebrated his and heart disease, which are difficult and devices categories. It was excit- 50th reunion, Santacruz reflected on how his experience at to control and are exacerbated by ing, and the other finalists were MIT Sloan had sustained him throughout his career. He is acute attacks that can lead to costly phenomenal.” deeply appreciative of his affiliation with an institution that, hospitalizations. Kalayoglu describes to this day, continues to bring him professional respect and their first device, Ventstar, as a Since the competition, Kalayoglu new opportunities. “smart inhaler” for controlling asthma. has become a fundraiser for the MIT $50K Entrepreneurship Com- Upon graduating from MIT Sloan, Santacruz returned to his “We believe that we can control petition, and the Previva team has native Mexico and started a toy manufacturing business, healthcare costs and improve quality been moving full steam ahead. They Vinilos Romay. Using the entrepreneurial mindset he of life through real-time monitoring,” plan to be operating full time by learned at MIT Sloan, he took a chance on a new process of he says. “Ventstar, in particular, May 2006. “It’s very inspiring to molding plastic, which resulted in better products and a will provide tremendous benefits to work every day to relieve suffering,” highly successful company. In 2002, when he could have asthma sufferers.” says Kalayoglu. “We’re proud to call been contemplating retirement, Santacruz instead ourselves an MIT $50K company.” embarked on a second career—developing affordable hous- ing to improve living conditions in Mexico City. Santacruz credits his management education as the basis for many of his business decisions and outlook. “There is so much to an MIT education. I learned that there is always a better way to The Balico team, winner do things, in order to cut costs. For me, that has meant that of the 2005 MIT $50k I never sit back, and that I keep trying to do business more Entrepreneurship Competition effectively. Being at MIT Sloan is such an extraordinary experience—you just can’t put a price on it.”

13 Investing in the future

Our new campus will create an environment that encourages students, faculty, and staff, across programs, to study, connect, and create the future together. If we are to continue to draw top students, faculty, and staff in the future, our campus must actively contribute to the School’s excellence—and be part of its competitive advantage. We must provide a world-class physical environment, along with our unwavering commitment to innovation and risk taking. Alfred P. Sloan, Jr., originally envisioned a school housed in one building for “unity of purpose”—and as we look toward our new facility, this vision is still paramount. Our new integrated campus will provide a fertile environment that is as forward looking, innovative, and community building as are the people and programs of MIT Sloan. MIT President Susan Hockfield has made clear that “this building is a top priority not only for the School, but also for the entire Institute.” We break ground for our new river-front campus in 2007.

Just as important as the substantial funds that we need to improve our campus are the unrestricted gifts that allow us to seize opportunities when they first appear, to be entrepreneurial. These funds have provided the seed money for such innovative programs and initiatives as the MIT Leadership Center, the Global Entrepreneurship Laboratory, and the Center for Biomedical Innovation. Our alumni donors demonstrate a vote of confidence in the work we do at MIT Sloan, as well as in our judgment, by providing critical funds that enable us to move nimbly to create new programs while bolstering existing ones—all in the service of our mission.

Generous support from alumni makes it possible for us to attract the most talented MBA and PhD candidates and to fund Career Development Professorships, appointments that enable younger faculty to conduct research, teach, and, of course, contribute new ideas and perspectives to our bubbling brew. Support of diversity fellowships allows us to attract and recruit the world’s most talented students, from a wide variety of backgrounds, and to ensure that all students benefit from the dynamic interaction with colleagues from across industries, sectors, and borders.

From Dean Schmalensee 14 Extending the virtuous cycle: Alumni Outreach at MIT Sloan

“Our alumni community is a vital The Alumni Office has also launched constant,” says Sean E. Brown, SM a new and improved magazine, with ’94, director of the MIT Sloan more extensive class notes, in-depth Alumni Office. “You might create a campus news, and feature stories terrific new business school tomor- that focus on issues important to row, but you couldn’t instantly con- alumni. Just as with the directory, jure up a distinguished community the magazine improvements of 20,000 alumni. MIT Sloan’s responded to alumni feedback. alumni represent one of our best strategic advantages, so our mis- Finally, in October 2005, more than sion is to engage them in meaning- 600 alumni and friends returned to ful ways.” campus from all over the world for Convocation. Just as Reunion helps Indeed, offering new and better alumni renew personal connections, ways for alumni to engage with Convocation, held every three years, the School and with one another provides an opportunity to renew Erin Bigley spurred three Alumni Office high- the intellectual connection to the SM, 2003 lights of the past year: the launch School by taking part in various Consultant Relations Director of a new alumni directory, a presentations and discussions with AllianceBernstein redesigned alumni magazine, and top business leaders, MIT faculty, the fall 2005 Convocation. and fellow alumni. Jeremy Seidman SM, 2003 “Last year, we sent out a survey Convocation 2005 celebrated two Private Investment Advisor asking alumni what they were look- important milestones in MIT Sloan’s Credit Suisse First Boston ing for in terms of services, and the history—the 75th anniversary of the number one thing they wanted was MIT Sloan Fellows program, and the a directory,” said Brown. “So we 25th anniversary of the Manage- responded.” ment of Technology program. Among the many event highlights In 2003, Erin Bigley and Jeremy Seidman became cochairs of A powerful networking tool, the new was a keynote address by John their Class Reunion Giving Committee. As MIT Sloan enthusi- directory brings together MIT Sloan Thain, SB ’77, CEO of the New York asts, they viewed this fundraising role as a way to give back alumni, faculty, staff, and students Stock Exchange. The keynote to MIT Sloan and inspire others to do the same. They also saw into one searchable database. Users speeches were interspersed with an enormous opportunity to set an entirely new standard for can search the database by first or several panel discussions, including young alumni giving. last name, country, class, or job “Making Globalization Work for All” industry. The new directory also and “Leadership in an Age of Uncer- Bigley and Seidman discovered that class giving at MIT Sloan provides greater contact informa- tainty”; and Back to the Classroom lagged significantly in comparison to peer schools and they tion, including personal e-mail sessions such as “The Dynamics of knew they could aim higher. “We’re all so involved as stu- addresses, mobile phone numbers, the Cambridge Bio-Tech Cluster”; dents,”notes Seidman. “There’s no reason why that dedica- and a notes field for conveying brief led by Thomas J. Allen, SM ’63, PhD tion should not continue.” messages and requests. ’66, Howard W. Johnson Professor of Management and Codirector, In true MIT Sloan fashion, Bigley and Seidman relied on Response to the directory has been Program on the Pharmaceutical teamwork to achieve their goal. They formed a committee overwhelmingly positive. “People Industry. composed of a cross-section of MIT Sloan degree programs. love it,” said Brown. “Alumni are Noting that students in the one-year programs had not using it to reconnect with the “Alumni engagement is a virtuous traditionally participated in class gifts, Bigley and Seidman School and one another. Students cycle,” says Brown. “The more we identified “captains” from each program. Together, their are using it to build a professional involve our alumni, the more we can committee rallied classmates around an aggressive goal: network.” attract the best and brightest of $100,000 and 80-percent participation. In the end, they each generation—and the more we exceeded their own expectations, reaching $131,000 and can continue to advance MIT Sloan.” 83-percent participation.

Two years later, Bigley, now working in marketing in New York, and Seidman, a private investment manager in Boston, are proud of their effort and their class’s legacy. Says Bigley, “One of our central goals was to start a tradition of philan- thropy and ensure that giving back to MIT Sloan became a MIT Sloan lifelong commitment for our classmates and future classes.” Convocation Seidman adds, “What we really wanted to accomplish was to 2005; at right, the create a shareholder mentality that tapped into everyone’s inaugural issue pride in being part of MIT Sloan.” of MIT Sloan alumni magazine 15 Advancing our work in progress

We have work to do––if we’re to realize our goals, if we’re to nurture leaders who will make positive contributions across sectors and oceans, and if we’re to foster the community necessary to generate and encourage new thinking and practice. And this work depends in large part on the generosity of our alumni, those extraordinary individuals who demonstrate their own leadership by giving their time, their expertise, and their philanthropy to MIT Sloan. Truly collaborative partners in an entrepreneurial venture, they share our vision of the future and provide many of the resources we need to achieve it.

It’s a testament to the strength of our community spirit, as well as a source of pride, that the MIT Sloan family extends throughout the world. Graduates have brought the innovative spirit, analytical abilities, and leadership skills they have honed at MIT Sloan to a wide range of roles, responsibilities, and opportunities––to for-profit and not-for-profit ventures around the world. No matter how many years it has been since they left MIT Sloan or how far away from Cambridge they now live, they demonstrate a continuing, strong connection to the School that is extremely gratifying.

As dean, I have had the opportunity to exchange ideas with many of you, and I am grateful for your ongoing loyalty, dedication, and enthusiasm. We—alumni, friends, faculty, students, and staff—are bound together by a shared sense of being part of something special and unique. We, together, enable the vision and are its proof.

On behalf of MIT Sloan, I thank those of you who have given, and I ask you to continue to help us to shape the future. I am supremely confident that, with the extraordinary and characteristic teamwork of all of us in the MIT Sloan community, the best is yet to come.

Richard Schmalensee John C Head III Dean

From Dean Schmalensee 16 Thank you to all our partners who give their time, expertise, and philanthropy to create change and shape the future. Report to our community Fiscal year 2005 Net revenue: $74,000,000 to support teaching and research Executive Education/ International 11% Gifts to the Annual Fund and Dean’s Fund for Innovation/ Income from endowment 13%

Other/SMR 3%

Research 14% 59% Tuition

Endowment: $413,000,000

Research and Academics 3% Fellowships 7%

Unrestricted 10%

Programs 67% Professorships 13%

New gifts and new pledges: $13,945,000 for general support, international initiatives, and research Number of gifts by source

Corporations Corporations 20.1% 428 *including matching gifts Foundations 56 fiscal year 2005 year fiscal

49.9% 3372 Individuals Individuals

Foundations 30% Thank you!

It is a special pleasure and a privilege to recognize the many contributions of our alumni, corporate partners, and friends. We are grateful for your annual support of MIT Sloan, both financial and through contributions of time and expertise. It is your annual support that enables us to pursue our mission of developing principled, innovative leaders who improve the world and gener- ate ideas that advance management prctice. The following lists, acknowledg- ing support given during the 2005 fiscal year (July 1, 2004–June 30, 2005), fall into three categories: volunteers, individual donors, and corporate and foundation donors. Please note that only donors to MIT Sloan funds are rec- ognized in this report. The Association of Alumni and Alumnae of MIT recog- nizes contributors and volunteers to all parts of the Institute, including MIT Sloan, in the MIT Alumni Activities Annual Report.

Volunteers* (list starting on page 22) We are delighted to send our heartfelt thanks to the many alumni and friends who gave so generously of their time and expertise during the 2005 fiscal year. From industry leaders working with the Dean on strategic and programmatic projects to the many thousands of alumni working diligently and energetically to strengthen the MIT Sloan community in their industries, functions, and geographies, all these volunteers play a critical role in helping the School to achieve its mission.

Individual donors* (list starting on page 26) It is a great honor to acknowledge those individuals who so generously offered their financial support to the MIT Sloan School of Management. These alumni, parents, and friends have a deep understanding of the importance of supporting and fostering our rich academic environment. Their philan- thropy funds our most integral strategic priorities—the MIT Sloan new building, the MIT Leadership Center, and the Annual Fund—while continuing to support the myriad faculty and programmatic initiatives that create the innovative, collaborative milieu for which the School is known.

Corporate and foundation donors (list starting on page 43) It is with great appreciation that we recognize the companies and foundations who gave so generously to MIT Sloan during the 2005 fiscal year. These organizations are true partners in helping us to create and then share our two main products—research and education—through funding research initiatives, degreed executive education programs, diversity fellowships, student conferences and educational activities, event sponsorship, matching gifts, scholarships, and other needs identified by MIT Sloan.

* While many of our donors and volunteers hold several degrees from MIT, individual donor listings recognize only degrees earned at MIT Sloan.

19 MIT Sloan Dean’s Diana H. Frazier SM ’81 Judith C. Lewent SM ’72 Managing Partner Executive Vice President & Advisory Council FLAG Capital Management Chief Financial Officer Stamford, CT Merck & Company, Inc. July 1, 2004–June 30, 2005 Whitehouse Station, NJ Victor K. Fung SB ’66 Chairman Kenneth Lo Prumerica Financial Asia, Ltd. Chairman Hong Kong The Industrial Bank of Taiwan Taipei,Taiwan Ilene S. Gordon SM ’76 Through biannual, on-campus meetings, the President, Food Packaging Gary W. Loveman PhD ’89 Americas President & Dean’s Advisory Council serves as a special Alcan Packaging Chief Executive Officer advisory board to the Dean of the MIT Sloan Chicago, IL Harrah’s Entertainment, Inc. Las Vegas, NV School of Management, offering advice and Peter P. Graham SB ’61 suggestions on strategic initiatives. Vice President, Retired Saman Majd PhD ’85 Proctor & Gamble Global Darien, CT Cincinnati, OH William T. McCarter SM ’71 Luis R. Alvarez-Renta SM ’74 Gary L. Cowger SM ’78 Charles E. Harper SM ’78 Managing Director Senior Partner President, General Motors Chief Executive Officer, William P. McCarter Luis Alvarez-Renta & North America Electrical Engineering and Coy, Ltd. Associates General Motors Corporation Sierra Monolithics, Inc. County Donegal, Ireland La Julia, Dominican Republic Detroit, MI Redondo Beach, CA Jamie D. McCourt SF ’94 Carlos Autrey SF ’78 Abdul Hadi M. Damirji SF ’86 Charles T. Harris, III SM ’80 Vice Chairman and President Chairman Chief Executive Officer Managing Director, Retired Los Angeles Dodgers Corporacion Autrey Optitune, PLC Goldman Sachs Los Angeles, CA Lomas De Chapultepe, Mexico London, England Darien, CT Lorenzo A. Mendoza SM ’93 Joaquin E. Bacardi SM ’98 Pierre J. de Weck SM ’76 John C Head III SB ’70, Chief Executive Officer Director of Global Marketing Head of Global Asset P ’05, ’07 Cerveceria Polar CA advisers Bacardi-Martini, Inc. Management Managing Member Caracas, Venezuela Coral Gables, FL Deutsche Bank London, A.G. Head & Company, LLC London, England New York, NY George J. Michel, Jr. SB ’53 Michael P. Baer SM ’92 President Baerpro AG Rafael Del Pino SM ’86 Daniel R. Hesse SF’89 Windstar International Zurich, Switzerland Chairman Chief Executive Officer, Palm Beach, FL Grupo Ferrovial SA Local Telecommunications Jesus L. Barrera Lozano Madrid, Spain Division Elizabeth A. Monrad SM ’80 SM ’78 Sprint New Canaan, CT Director Fred M. Fehsenfeld, Jr. SM ’75 Overland Park, KS Quimmco SA de CV Managing Trustee David T. Morgenthaler SM ’41 San Pedro, Mexico Heritage Group Paul S.P. Hsu Founding Partner Indianapolis, IN President Morgenthaler Gary L. Bergstrom PhD ’68 EPOCH Foundation Cleveland, OH Chairman Bradley A. Feld SM ’88 Taipei,Taiwan Acadian Asset Management, Inc. Managing Director Jonathan P. Moynihan SM ’77 Boston, MA Mobius Venture Capital Robert T. Huang SM ’79 Chairman & Superior, CO President & Chief Executive Chief Executive Officer William L. Bucknall, Jr. SF ’80 Officer PA Consulting Group Senior Vice President Eugene Flood, Jr. PhD ’83 SYNNEX London, England of Human Resources President & Chief Executive Fremont, CA United Technologies Officer John J. Nagorniak SM ’70 Corporation Smith Breeden Associates Takashi Iwamura SF ’78 Chairman Hartford, CT Chapel Hill, NC Chief Operating Officer Franklin Portfolio Associates Yazaki United States, Inc. Walpole, MA Daryl J. Carter SM ’81 H. Gifford Fong P’02 New York, NY Chief Executive Officer President Akash Paul SM ’81 ChartMac Mortgage Capital Gifford Fong Associates Paul D. Kaplan SM ’74 Director Manhattan, NY Lafayette, CA Senior Vice President and Caparo Group Ltd. Partner London, England Mr. David Pun Chan SB ’72 James C. Foster SF ’85 Wellington Management Chairman & Managing Director Chairman, President & Chief Company Frank Perna, Jr. SF ’70 Tai Cheung Holding, Ltd. Executive Officer Boston, MA Malibu, CA Hong Kong Charles River Laboratories Wilmington, MA Ronald A. Kurtz SM ’60, P ’88 Anne C. Quinn SM ’77 F. Hudnall Christopher, Jr. President Group Vice President, SM ’59 Commerce Graphics Gas, Power & Renewables Winston-Salem, NC New York, NY BP p.l.c. London, England Daniel H. Leeds SF ’91 The Federal Paper Washington, DC 20 Paul A. Reeder III SM ’85 Polyvios C. Vintiadis CE ’61 MIT Corporation Visiting President Trizec Properties, Inc. PAR Capital Management, Inc. Chicago, IL Committee for the Boston, MA Ralph Wanger SM ’58 MIT Sloan School of Eric R. Rosenfeld PhD ’80 Advisor Partner Columbia Wanger Asset Management Paloma Partners Management Chicago, IL Company Greenwich, CT Ronald A. Williams SF ’84 President Ferit Sahenk Aetna, Inc. Meeting biennially, the MIT Sloan Visiting Chairman & Hartford, CT Committee serves as a special advisory council to Chief Executive Officer Dogus Holding Company Elliot K. Wolk SB ’57 the MIT Corporation, working on curricular and Istanbul, Turkey Managing Director Emeritus academic initiatives. Bear Stearns & Co., Inc. Kenan E. Sahin PhD ’69 New York, NY President & Founder TIAX LLX Earl Yaffa SM ’63 Cambridge, MA Managing Director Chair Anne C. Quinn SM ’77 Skadden Arps Slate & Meagher Judith C. Lewent SM ’72 Group Vice President-Gas, Sadeq Sayeed SM ’85 New York, NY Executive Vice President & Power & Renewables Special Advisor Chief Financial Officer BP p.l.c. Nomura International, p.l.c. Carl J. Yankowski SB ’71 Merck & Co., Inc. London, England London, England Partner, Chairman & Whitehouse Station, NJ Chief Executive Officer John S. Reed SM ’65 Kenneth T. Schiciano SM ’89 Westerham Associates James C. Foster SF ’85 Former Chairman Managing Director Dover, MA Chairman/President/Chief Citigroup, Inc. TA Associate, Inc. Executive Officer New York, NY Boston, MA George Zachary SB ’87 Charles River Laboratories Venture Partner Wilmington, MA Eric R. Rosenfeld PhD ’80 George Schussel P ’95, ’00 Charles River Ventures Partner President Menlo Park, CA Thomas P. Gerrity PhD ’70 Paloma Partners Management Jellicle Investors, Inc. Professor of Management Company Andover, MA David Znaty SF ’79 The Wharton School, Greenwich, CT President University of Pennsylvania Jeffrey L. Shames SM ’83 Ingenico Philadelphia, PA Jeffrey L. Shames SM ’83 Former Chairman Puteaux, France Former Chairman Massachusetts Financial John C Head III Massachusetts Financial Services Christopher Zook* SB ’70, P ’05, ’07 Services Newton Centre, MA Director Managing Member Newton Centre, MA Bain and Company Head & Company, LLC Alan G. Spoon SM ’73 Boston, MA New York, NY Richard P. Simmons Managing General Partner SB ’53 Engineering Polaris Venture Partners Ronald A. Kurtz SM ’60 Chairman Emeritus Waltham, MA President Allegheny Technologies, Inc. Commerce Graphics, Ltd. Pittsburgh, PA J. Spencer Standish SB ’45 New York, NY Chairman Emeritus Michael W. Sonnenfeldt Albany International Jamie L. McCourt SF ’94 SM ’78 Corporation Vice Chairman and President Managing Member Albany, NY Los Angeles Dodgers Muus & Company, LLC Los Angeles, CA Westport, CT Theresa M. Stone* SM ’76 President Lorenzo A. Mendoza SM ’93 A. Michael Spence Jefferson-Pilot Chief Executive Officer Philip H. Knight Professor, Communications Cerveceria Polar C A Emeritus Greensboro, NC Caracas Venezuela Stanford University, Graduate School of Business Shivan S. Subramaniam Victor J. Menezes SM ’72 Stanford, CA SM ’78 Senior Vice Chairman Chairman & Chief Executive Citigroup Martin Y. Tang SM ’72 Officer New York, NY Chairman, Asia FM Global SpencerStuart Johnston, RI Robert A. Muh SB ’59 Hong Kong Chief Executive Officer John A. Thain SB ’77 Sutter Securities, Inc. Ronald A. Williams SM ’84 Chief Executive Officer San Francisco, CA President New York Stock Exchange, Inc. Aetna, Inc. New York, NY William A. Porter SF ’67 Hartford, CT Chairman and Co-founder Martin Trust SM ’58, P ’96 International Securities Marjorie M.T. Yang SB ’74 Brandott, Ltd. Exchange Chairman Salem, NH New York, NY Esquel Group * honorary members Hong Kong 21 Karim Abbadi ’05 Eitan Becker ’02 Mazen Abdin ’84 Carl Beckett ’02 Sagi Abiri ’05 Christopher Bell ’04 Julia Abramovich ’02 Afarin Bellisario ’80 Eric Achtman ’95 Gil Ben-Simon ’03 Ben Ackerman ’00 Arnaud Bensoussan ’03 Thomas G. Adams ’96 Tom Bentley ’75 Oreoluwa A. Adeyami ’06 Jim Berdell ’69 Joseph Adiletta ’03 Lara Berkowitz ’02 Leonda Adler ’80 Lilac Berniker ’03 Karl-Christian Agerup ’90 Ryan Berryman ’01 This listing acknowledges the thousands of MIT Sloan Sanjay Aggarwal ’95 B. Scott Best ’93 Vikkas Agrawal ’03 Michelle Bethel ’01 alumni who have generously offered their time and effort Amir K. Ahmad ’93 Guillermo Bettati ’98 to support and strengthen the MIT Sloan community. Sabina Ahmed ’90 Steve Bhargava ’78 1,500 Jee Ahn ’93 Vinay Bhargava ’99 Over the past year, more than MIT Sloan alumni Olalekan Akinyanmi ’00 Neetu Bhatia ’98 volunteered on over 2,000 separate occasions. These men Adam Albrich ’06 Rani Bhuva ’03 N. Stephen Allen ’73 Peter Bier ’98 and women serve as advisers to fellow alumni and Thad Allen ’89 Gregg Bierman ’00 current students, helping them advance their companies Adi Alon ’94 Erin Bigley ’03 Eduardo Alvarez ’00 Jason Bingo ’03 and careers. They organize content-rich events with Renata Alves ’06 Kristian Bjorneboe ’99 industry-leading participants, and manage alumni clubs Todd Alwart ’03 Luis Blando ’01 Darren Amundson ’00 Eric Blatte ’96 around the world. They ensure that annual reunions are Jeff Anders ’06 Melvin Blitz ’57 successful and well attended, and help encourage contin- Janet Andersen ’79 Christopher Bloise ’04 Lindsey Anderson ’79 Jack S. Bloom ’83 ued alumni financial support. They help attract the best Richard Anthony ’04 Elizabeth Bogan ’89 and brightest new students (and future alumni). They Roy Appelman ’05 Gordon Boggie ’02 Michael Applin ’82 Laura Bogusch ’03 all play a critical role in helping MIT Sloan to achieve Alessandro Araldi ’02 Gaye Bok ’90 its mission—and we are delighted to extend to them Jeff Arenberg ’86 Sylvie Bokshorn ’01 Chris Argyrople ’89 Anne Bomser ’90 our heartfelt thanks and appreciation. Carlos Ariza ’99 Emanuele Bona ’01 Fabio Armani ’01 Giovanni Bonfanti ’02 Juan Pablo Armas ’92 Danielle Bonhomme ’01 Artis Arnold ’05 David Borison ’91 The MIT Sloan Alumni Office strives for accuracy when creating Erikka Arone ’03 Marco Borla ’01 this list. If your name has been omitted or listed incorrectly, please Geoffrey Arone ’04 J. Jeff Boshar ’80 contact us at [email protected] or write to us at: Robert Aronoff ’90 Koen Bouwers ’00 Manik Arora ’03 Kerry Bowie ’06 MIT Sloan School of Management Jonathan Art ’92 Stephen Boxer ’91 volunteers Alumni Office Aki Asami ’96 Maureen Boyce ’91 77 Massachusetts Avenue E60-300 Chahriar Assad ’01 Osman Feyzi Boyner ’01 Cambridge, MA 02139-1014 Mark G. Atkeson ’91 Nisa Bradley ’02 William Aulet ’94 Jon Brandner ’88 Gautum Awalegaonkar ’05 Jennifer Bratton ’02 Robert Ayan ’02 Roberta Braum ’99 Iris Aybar ’05 Alberto Brause ’06 Cristen Baca ’02 Scott Brazina ’89 Armando Santacruz Baca ’54 Enrique Brockman ’02 Ramin Baghai ’04 Gianmarco Broggini ’99 Muge Bahar ’02 Darren Bronson ’99 Jerry D. Bailey ’79 Michael Brook ’94 Laurie Dean Baird ’92 Noel Brown ’00 Ben Baker ’00 Haakon Brown ’01 Peter Baker ’50 Sean Brown ’94 Agustin Balaguer ’04 Matthew Bruck ’96 Damien Balsan ’02 Martin Bruzone ’03 Prinyawut Bandityanond ’98 Alexandra Brykman ’03 Phil Bangayan ’03 Leonard Buckle ’64 Jonathan Barek ’99 Bryan Buljat ’04 Henry Barg ’73 J. Andrew Bunce ’05 Richard A. Barron ’75 Josh Burack ’02 Marc Bartel ’91 Brittany Burch ’00 John Barton ’03 Jay Burkholder ’98 Christian Bassila ’03 Renee Kuo Burnside ’03 Valdirene Bastos ’01 Nicolas Burr ’05 Randal Bauman ’02 Pietro Busnardo ’00 Christopher Bauserman ’03 Orlando Bustos ’99 Stephen Baxter ’71 Stephen Bylciw ’93 Cyrus Beagley ’02 Christian Caballero ’05 Daniel B. Beardslee ’86 Sarah Shoaf Cabot ’85 Jacques Beaudry-Losique ’92 Carlo R. Cadet ’97 Isabel Becerra ’00 Anthony Calderon ’02 22 Juan Calderon ’02 Alan Cooke ’97 John F. 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Earnest ’04 Catherine Gale ’93 Andres Guber ’02 Robert Carney ’99 Christopher Couch ’92 Tom Eccles ’90 Bradley Galle ’06 Justin Guichard ’05 Giovanni Carriere ’03 Brian Courtney ’05 Iñaki Ecenarro ’01 Thomas Gallo ’03 Lucas Guimaraes ’05 Michael Carroll ’01 Andrew Cowen ’03 Gil Edelman ’43 Joshua Galper ’00 Rosaline Gulati ’96 Richard Carter ’95 Gary Cowger ’78 Dion Edge ’03 Conrad Gann ’93 Anil Gupta ’02 Chris Cary ’05 Christina Cragholm ’03 Sydney Edwards ’96 Brian Gannon ’01 Amit Gupta ’03 Roberto Casas ’93 Grenville Craig ’68 Evangelos Efstathiou ’00 Avtandil Garakanidze ’05 Richa Gupta ’03 Imelda Castro ’00 Scott Crenshaw ’04 Maki Yoshida Egami ’95 Ricardo Garcia de Alba ’05 Andrew Gurbaxani ’91 Marcelo Catala ’03 David Cromb ’01 Dennis Egan ’91 Juan Garcia-Gayou ’02 Chris Gutek ’97 Tanguy Catlin ’04 Mary Cross ’80 Sarah Egan ’05 Tommy Gardner ’88 David Guterman ’86 Omer Cedar ’05 Joao Cumerlato ’00 Patricio Eguiguren ’02 Mariano Gargiulo ’03 Paul Haas ’55 John Celmins ’05 Riccardo Cumerlato ’02 Maria Ehsan ’97 David Garraway ’03 Rami Habal ’00 Pratap Chakravarthy ’05 Ralph Cuomo ’60 Nathan Eigerman ’96 Steven Gaskin ’77 Don Hague ’77 Rohini Chakravarthy ’99 Elena Cupingood ’00 Alexey Eliseev ’05 Edward Gaskin ’94 Avner Halperin ’01 Caroline W.H. Chan ’02 Thomas Curtin ’03 Rami Elkhatib ’99 Dale Geiger ’71 Jerome Halperin ’74 Eric Chan ’02 Barbara Cushing ’00 James Elkind ’89 Shirley Geldfeld ’04 Anna Halpern-Lande ’98 Timothy T. Chan ’75 Miguel Dangond ’03 Webb Elkins ’83 Robert Gellert ’53 Eduardo Hameau ’97 David T. Chan ’83 Robert Daniels ’00 Jean Elliott ’97 Paolo Gencarelli ’03 Chris Hammond ’06 David Chan ’98 Alex d’Arbeloff ’49 Stephen Ellis ’00 Michael Gerard ’97 Matt Handel ’91 Desmond Chan ’98 Audrey Daum-Kaufman ’88 Enrique Elsaca ’97 Alison Gerlach ’98 Sparky Handelsman ’93 Thomas Chandler ’04 Steven David ’91 Michael Elvin ’02 Darr Gerscovich ’05 Rune Aasen Hansen ’02 Esther Chang ’00 Glen Davis ’89 Steve Emmer ’78 Jeff Gerson ’05 Max Hansen ’95 George Chang ’02 Frank Days ’98 Bruce Enders ’69 Judy Katz Geschwind ’75 Jonathan Harber ’90 Julie Chang ’02 Octavio de Faria Neto ’99 Damian Engen ’05 James Geshwiler ’00 David Harelick ’02 Geoff Chapin ’02 Rafael O. De Jesus ’00 Anne Ephraim ’00 Shuman Ghosemajumder ’02 Sandy Harlow ’70 Colleen Charles ’86 Jose M. De La Torre ’95 David Epstein ’88 Martin Giese ’00 Charles Harper ’59 Chet Chauhan ’03 Paulo Derezende ’00 Wendy Erb ’72 Elad Gil ’01 Bradley Harrison ’01 Carl Chen ’04 Henrique Colin De Soarez ’00 Ellen Duke Erhardt ’87 Juan Gil ’93 Lynne Harrold ’02 Tony Chen ’05 Dalmo de Vasconcelos, Jr. ’80 Patricia Erickson ’78 Marina Giliver ’06 Gwendolyn Hasse ’01 Rowland Chen ’83 Mike Dean ’05 Luca Erpici ’04 Emanuele Gillio ’02 Homayoun Hatami ’00 Edward Chen Nari Deboo ’69 Jason Escamilla ’02 Joe Gilman ’90 Yvette Kuo-Ying Hau ’02 Howard Cheng ’97 Liza Debus ’02 Jose Espinel ’99 Pablo Gimenez ’00 Jens Haupt ’94 Judy Cheng ’97 Stephen DeFalco ’83 Ken Estridge ’66 Yael Glassman ’05 Francis Hawkings ’85 Chung Meng Cheong ’00 Mohammad Taher Carol Daily Fabbri ’98 Paul Glomski ’05 Elizabeth Hawkins ’05 Mark Cheshire ’95 Dehkhoda ’01 Hala Fadel ’01 Patricia Glovsky ’86 Chad Hawkinson ’99 Terence Chesire ’06 Luc Dejonckheere ’86 Samuel Falk ’01 Jarrett Goetz ’06 Catalina Hayata ’02 Jeffrey Cheung ’91 Maria del Pilar Iglesias ’05 Deborah Farese ’05 Eitan Golani ’02 Stephanie Healy ’05 Chris Woon Liat Chia ’98 William DeLey ’99 Bob Feinbaum ’60 Joshua Gold ’03 Chad Heaton ’05 Panida Chinsupakul ’00 Ralf Deltrap ’00 Frank Feist ’97 Jeffrey Goldberg ’01 Andrea Heffernan ’02 Vanessa Chioffi ’03 Michael deMarco ’68 Carlos Fell ’03 Kenneth Goldberg ’95 Naryan Hegde ’97 Ronald Chiu ’04 Gavin DeNyse ’01 Alberto Jr. Fenix ’68 David Golden ’81 Hildegard Heins ’05 Neeraj Choubey ’02 Michael D’Esopo ’97 Robert Fenton ’77 Quinn Goldstein ’99 Robert Heinze ’68 Clara Chow ’00 Joney DeSouza ’05 Paula Ferguson ’05 Elizabeth Golluscio ’01 Dara Heller ’02 Jim Chow ’04 Cynthia DeTar ’03 Kristina Fernandes ’00 Rene Goncalves ’04 Mark Hendy ’05 Lisa Chow ’93 Suzanne Maguire Dewey ’85 Jesus M. Fernandez Salido ’05 Florence Ruilin Gong ’04 Andrew Henshon ’02 Tine Christensen ’00 Carmine Di Palo ’00 Rafael Ferrada ’00 Jose Gonzalez Tornquist ’03 Ahron Herring ’01 Kevin Christensen ’95 Janet Di Palo ’00 Ray Ferrara ’67 Francisco Gonzalez-Meza Christopher Hertz ’05 Anthony Christie ’98 Francisco Diarte ’05 Marco Ferretti ’91 Hoffmann ’04 Bonnie Zoller Herzog ’97 Susan Christy ’98 Al Diaz ’86 Steve Finger ’96 Roy Gooi ’99 Robbin Higby ’03 Brian Chu ’01 Angel Diaz Alegre ’98 Craig Fingold ’95 Kenneth F. Gordon ’60 Susannah Hill ’95 Caroline Chu ’02 Raquel Diniz ’05 Jed Finn ’05 Alexandre Gorito ’01 Jennifer Himmelfarb ’00 George Chu ’04 Dan DiSano ’95 Meghan Fitzgerald Henshon ’05 Tom Gormley ’87 Sean Hinners ’00 Shyne-Song Chuang ’00 Michael D’Wayne Dobson ’00 Robert Fitzpatrick ’00 JP Gorsky ’05 Eric Hjerpe ’93 James Chung ’00 Douglas A.F. Dodds ’58 Kathleen Fliss ’05 William Gostic ’98 Felix Ho ’98 Janis Cibulskis ’01 Yevgeniy Dodis ’98 James P. Flynn ’02 Peter Gottlieb ’59 Kathryn Ho ’06 Marina Cigarini ’04 Berrak Dogruer ’01 Brian Foley ’04 Jeffrey Gower ’01 Erin Hoffer ’00 Nathan Clark ’04 Timothy J. Dolan ’00 Steven Fong ’02 Eric Graber-Lopez ’02 Harry Hollenberg ’91 Paul Clermont ’64 Macarena Dominguez ’02 Goh Mui Fong ’93 James Graham ’04 Heath Holtz ’05 Aviv Cohen ’01 James Donaghy ’58 Elizabeth Fosnight ’02 Laura Graham ’06 Stephen Hom ’91 Evan Cohen ’01 Robert S. Donahue ’00 James Foster ’85 Judson Graham ’98 Michael Horgan ’99 Robert L. Cohen ’84 Kevin Dorn ’02 Joseph Fowler ’05 Richard Granger ’75 Junji Horinouchi ’01 Dana Michon Cole ’02 Stan Dorst ’52 Richard Frank ’02 Doug Grant ’03 Bernard Horn ’80 Jerald Cole ’82 Kumar Doshi ’03 Steven Fransblow ’06 Thomas Grant ’06 Kristin Horton ’95 James Puyat Concepcion ’00 Ning Peng Drako ’90 Gary Frashier ’70 Kevin Gravina ’06 Tsuyoshi Hoshino ’01 Peter Condakes ’80 Taylor Driggs ’98 Ramon Frausto ’00 Charles Gray ’01 William Hosley ’48 Kellee Condra ’01 Nicolas Droguett ’03 Mark Freitas ’00 Alvin Graylin ’00 Lycia Hossaka ’00 Scott Constance ’01 Jacqueline Dufault ’02 Yuliya Frenkel ’04 Mark Grebler ’63 Elisabeth Houston ’75 23 Norbert Hsu ’03 Russell Kellner ’04 Yen Lee ’96 Kimberly Markert ’00 Christopher Morrison ’00 Nancy Newton Hu ’05 Timothy Kelly ’04 Monica Lee ’97 Ted Marks ’87 Fatemeh Nazgol Moussavi ’01 Ingrid Huang ’02 Thomas G. Kelly ’97 Marcus Leef ’03 Richard Marshall ’90 John Muhlner ’02 Yu Huang ’04 Kei-Lee Kelly Liu ’01 Veronica Leger ’90 Frank Martelli ’98 Shum Mukherjee ’78 Carla Huffman ’00 Alson Kemp ’05 Gregory Leidner ’02 Joseph R. Martin ’71 Matthew Mullaney ’03 Simon Hughes ’00 John Kenney ’90 Federico Leighton ’97 John Martin ’89 Melodie Munoz ’04 Bill Hughes ’94 Gun Keresteci ’92 Mary Lentz ’80 Marissa Martinez ’82 Masahiko Murakami ’90 Kenneth Kin-hei Hui ’99 Rob Ketterson ’90 Thomas Glen Leo ’75 Justin Martinez-Sowers ’00 Stephen J. Murdoch ’62 Rodrigo Huidobro ’02 Megan Kha ’00 Ralf Leszinski ’85 Andres Marulanda ’01 Paul Murphy ’05 Paul Hummel ’97 Adnan Khan ’02 Dawna Levenson ’83 Austin Marx ’50 Santiago Murtagh ’99 Thomas Hungerland ’92 Mohammad W. Khan ’02 Issac Levin ’00 Jay Massimo ’87 William Musto ’04 George Hunnewell ’99 Charlotte Khoo ’01 Hank Levine ’85 Joel Mattox ’84 Farooq Akbar Muzaffar ’02 Amyn Husain ’00 Kenneth Khouri ’02 Sam Levine ’90 Diego H. May ’02 Salvador Muzzo ’04 Irna Hutabarat ’03 Alice Ye Kim ’04 Joshua Levy ’04 Avrum Mayman ’94 Dita Naik ’00 Tom Hutton ’04 Mark Kim ’04 Noah Lewis ’06 Angelika Mayman ’95 Renu Nallicheri ’94 David Iannetta ’01 Migene Kim ’98 Qunmei Li ’02 Karen Mazer ’89 Monica Naranjo ’01 Michael Wasfy Ibrahim ’04 John Kingery ’74 Mandi Mobley Li ’04 Bruce McBratney ’89 Krishnan Natarajan ’88 Richard Ihrie ’71 Pinar Kip ’02 Elizabeth Lian ’94 Mary McBride ’80 Vaibhav Natu ’05 Maria Iordache ’02 Mustafa Kirdar ’97 Kenny Ghen-yue Liao ’02 John McCaffrey ’94 Toh Ne Win ’02 Karim Issa ’03 Jeremy Kirsch ’04 Jenny Y. Liao ’03 Christopher L. McCall ’01 Andrew Nelson ’01 Mie Iwasa ’06 Aaron Kleiner ’69 David Libby ’99 Megan McCracken Ellen Newlands ’83 Julie Jackle ’99 Alex Kleiner III ’98 Bernard Lietaer ’69 Jack McCullough ’97 Chaki Ng ’00 Amit Jain ’01 Martin Klenke ’92 Charlie Lieu ’05 Christopher McFadden ’05 Jennifer Nguyen ’06 Vishal Jain ’04 Paul Ko ’02 Chu Hsien Lin ’00 Derick McGee ’05 Robert Nicol ’01 Carlos Jalfon ’01 Bong Dug Koh ’05 Elizabeth Lin ’00 Eric McGill ’05 Natalie Niers ’00 Juan Jaliff ’91 Curt Kohlberg ’82 Stanford Lin ’02 Debra McGinty ’97 George Nisotel ’76 Josh James ’06 Henry Kon ’96 Phillip Lin ’03 Robin McGowan ’03 Kyongsoo Noh ’00 Mark Jansen ’92 Paul Konasewich ’03 Min Lin ’04 Julianne DiCenso McHugh ’00 Daniel Nolasco ’01 George Jaquette ’85 Philip Kong ’02 Sching Lin ’81 Kirk McKeown ’05 Steve Nolen ’05 Emily Breuner Jaquette ’95 Paul Konnersman ’67 Steven Lipari ’93 John McLanahan ’00 Tom O’Donnell ’03 Timothy Jarrett ’02 Hsueh-Yung Koo ’01 Boris Lipiainen ’98 Meera Mehta ’02 Michael F. Oglo ’48 Janus Javier ’00 Jennifer Koop ’03 Walter Lironi ’02 Vishal Mehta ’02 Busty O. Okundaye ’94 Marc Jedel ’93 Tomas Korganas ’00 Yanming Liu ’01 Mitul Mehta ’03 Gaby Olazabal ’00 Maria Jelescu ’02 Alexei Koudriachov ’00 Jeff Loeb ’89 Rahul Mehta ’04 Scott Oldach ’75 Seungwon Jeong ’05 Matthew Kovinsky ’01 Alexandra Lomakin ’00 Ross Meisner ’97 Roger Olen ’55 Zhiying Jiang ’06 Maxim Kozlov ’01 Jennifer Long ’01 Kevin Melia ’99 Andre Oliveira ’02 German T. Jimenez-Hega ’03 Larry Krakauer ’80 Kevin Long ’02 Belden Menkus ’84 Maurice Olivier ’79 Marc Jin ’04 Martin Kress ’95 Kate Long ’05 Frances C. Merenda ’01 Andrew Olmsted ’95 Serene Jiratanan ’05 Sujeesh Krishnan ’03 Patricia Lopes ’98 Camila Merino ’98 Eamon O’Malley ’99 Daniel Joensen ’93 Bharat Krishnaswamy ’06 Marcus Lopez ’05 N’Gai Merrill ’95 Adam Ondricek ’01 Tamra Johnson ’01 Stanley (Stan) Kroder ’57 Gustavo Lopez ’87 Emil Mertzel ’93 Ken Ong ’80 L. Robert Johnson ’63 Noah Kroloff ’90 Jose Luis Lopez Leautaud ’63 Brianne Metzger ’03 Rick W. Orr ’85 Michael Johnson ’85 Bob Kruse ’95 Alexander Loucopoulos ’05 Marc Meyer ’86 Enrique Ortiz ’99 H Scurry Johnson ’89 Jill Krzewina ’00 Jordan Low ’01 Harp Michelle ’01 Michael Osofsky ’04 Aratha Johnson ’95 Paul Kucik ’00 Tzer Hung Low ’01 Andrea Migliassi ’04 Jeff Ou ’94 Scott Johnson ’96 Rishi Kumar ’02 Gordon Low ’85 Glenn Migliozzi ’86 Christo Ovcharov ’03 David Johnston ’92 Rajesh G. M. Kumar ’06 Daniel Lozano ’02 Stephen Miles ’03 Richard Owen ’92 Courtney Jones ’04 Arun Kumar ’80 Peter Lucas ’85 Steve Min ’02 Rocco Paduano ’01 Bob Jones ’77 Imran Kureshy ’04 Tamara Lucero ’01 Sunshik Min ’85 Louis Paglia ’05 Yvonne Jones ’88 Peter Kuykendall ’97 Yaming Lui ’01 Paul Mingardi ’05 Salvador Paiz ’00 Hyungchul Joo ’03 Trygve Laegreid ’01 Jackson Lum ’93 Pedro Miranda ’01 Elena Pajarin ’03 Harry Jordan ’96 Frances Lai ’03 Piyush Lumba ’03 Maxim Mironov ’05 Anita Pandey ’01 Mary Joseph ’05 Julius Lai ’04 Kjell Lundal ’01 Zeeshan Mirza ’99 Shashishekhar (Ravi) Pandit ’75 Asad Jumabhoy ’86 Stan Lai ’95 Katrina Lundberg ’03 Sam Mishra ’01 Patiwat Panurach ’03 Jaeki Jung ’03 Rajat Lal ’06 Anna Luo ’91 Reza Moazzami ’96 George Paoletti ’91 Olva Junttila ’01 Kishore Lall ’73 Bernard Lupien ’06 Chris Moeder ’99 Giulio Pappalardo ’03 Maxat Kabashev ’04 David Lam ’00 Jackie Luu ’98 Greg Moeller ’02 Michael Parduhn ’02 Peter Kacandes ’97 Jay Landauer ’04 Gonzalo Luzuriaga ’03 Philip, Kwan Yat Mok ’98 Tony Parham ’90 Alex Kacprzyk ’01 Radford Laney ’88 David Lynn ’02 Oren Moked ’03 Anish Parikh ’02 Wendy Kahn ’98 Stefan Lanfer ’06 William K. Lyon ’95 Salvatore Mole ’00 Anand Parikh ’88 Mark Kalow ’75 Dean Langendorf ’01 Angela Lyons ’03 Diego Molina ’00 Steven Park ’03 Rahul Kamath ’04 Jack Langworthy ’91 Jeremy MacDonald ’05 Brendan Monaghan ’06 Rajagopal Parthasarath ’91 Natanael Kaminski ’02 Philip Lapsley ’03 Bill Machanic ’73 Brian Monaghan ’83 Carrie Partlan ’93 C. Greg Kandare ’99 Kristina Larson ’03 Melani Machinea ’01 Celestin Monga ’95 Sonia Pasquali ’02 Marianne Kantor ’00 Linda Laskowski ’84 Edmond Macri ’01 Betsy Monrad ’80 Keyur Patel ’02 Patricia Kao ’04 Charles Lavine ’70 Gianfranco Macri ’98 Cory Monroe ’05 Luis Hernan Paul ’98 Gary Kaplanovich ’01 Phong Le ’05 Jose Magallanes ’02 Tom Monroe ’94 James Payne ’00 Halil Karakas ’01 Kurt Leafstrand ’91 Dave Magnoni ’99 Karin Monsler ’00 Stephen Pearse ’82 Petter Karal ’01 Victor Leal ’00 Susie Mahoney ’01 Donald Monson ’03 Robert Pearson ’63 Armina Karapetyan ’05 Alon Lederman ’01 John Maimone ’97 Laura Montalvo ’99 Steen Klint Pedersen ’05 Alexander Karnal ’03 Hanmae Lee ’00 Maurice Maisel ’01 Fulvia Montresor ’99 Emilio Pellet-Lastra ’03 Abdul Kasim ’97 Christopher Lee ’04 Arpita Majumder ’00 Gordon Moore ’60 Rahim Penangwala ’06 Arthur Katz ’61 David Lee ’04 Dany Patrick Maklouf ’02 Anita Moorthy ’02 Sam Peng ’03 Jon Kaufman ’97 Jerry Lee ’82 Paola Maleh ’05 Peter Moran ’90 Xiaofei Peng ’89 Mark Keil ’86 Eugene H. Lee ’89 Shirish Malekar ’87 Melissa Morehead ’00 Ning Peng Drako ’94 Deborah Kelfer ’80 Monica Lee ’94 Katie Manty ’02 Daryl Morey ’00 Enrique Perez ’03 24 Adrian Perica ’01 Michael Rorick ’03 Patricia Webb Shepard ’99 Rob Tagiuri ’98 Troy Wendt ’94 David Perko ’00 Hernan P. Rosas ’94 Benjamin Shih ’89 Edwin Tai ’02 Aaron Westrick ’03 Mark Perutz ’00 Amy Roschelle ’93 Fred Shinagel ’55 Augustus Tai ’91 Lead Wey ’95 DuWayne Peterson ’55 Todd Rose ’02 Bruce Shook ’98 Li-Te David Tai ’99 Adam White ’01 Pete Peterson ’58 Komon Roufas ’05 Shailesh Shukla ’94 Marc Tamres ’93 Michael White ’02 Michael Peterson ’94 Dennis Rourke ’91 Kurt Shuler ’98 Yu Hsien Vivian Tan ’00 Ken White ’69 Markos Petrocheilos ’06 Campbell Rowe ’02 Christopher Shun ’91 Joanna Tan ’74 Bransby Whitton ’02 Ethan Phillips ’04 Rob Rowello ’99 Steve Siegel ’91 George C. Tan ’95 David Wiesen ’54 Daniel Phung David Rubin ’80 Krzysztov Sikorski ’98 Jess Tan ’97 Paul Wiesner ’97 Len Picard ’75 Andy Rubinson ’02 Eric Silverman ’91 Chris Tapia ’00 John Wigodsky ’73 Dale Pilgar ’87 Graham Ruck ’02 Harold Simansky ’99 Rick Tavan ’70 Erika Williams ’78 Charles Pimlott ’58 Mary Ruddy ’84 Rita Dajani Simpson ’78 Mamoun Tazi ’96 Ron Williams ’84 B. Joseph Pine III ’91 Israel Ruiz ’01 Daleep Singh ’03 Luis Tena ’83 Eric Witherspoon ’02 Joyce Pinkham ’00 Erik Rule ’72 Angela Singhal ’01 Jeremy Tennenbaum ’86 Christoph Woehler ’96 Luis Pintado ’01 Hansen Rune ’02 Lincoln Sise ’03 Ruxandra Tentis ’03 Mark Wohlfarth ’00 Leila Akbarian Pirnia ’99 Michele Russo ’93 Pablo Sitjar ’93 Jonathan Bart Tepper ’75 Bart Wojciehowski ’92 Gabriella Pollack ’06 D. Robert Rutledge ’98 Somasundaram Rachel Theran ’03 Kati Wojciehowski ’97 Yulia Poltorak ’06 Rick Ruvkun ’83 Sivasundaram ’82 Charlie Tillett ’91 Andrew Wolchek ’93 Karen Ponchner ’02 Cynthia Ryan ’00 Melinda C. Skaar ’87 Julian Ting ’00 James R. Wolfson ’83 Muge Ponte ’02 Daniel T. Ryu ’89 Peter Skillings ’98 Panida Ting ’00 James Wolters ’00 Kip Pool ’91 Marcelo Saad ’91 Ben Skolnik ’04 Panida Ting ’00 Wilkie Wong ’00 Robert Potter ’90 Jody Vipperman Saarmaa ’90 Brian Slobodow ’95 Lillian Ting ’91 Hester Wong ’04 Jack Potter ’95 Connie Sadowski ’99 Nicolas C. Smirnoff ’02 Jennifer Toomey ’94 Richard Wong ’91 Jerome Poupon ’05 Mira Sahney ’05 Jeff Smith ’02 Genelle Trader ’80 Soo Sheung Wong ’91 Tony Powe ’98 Rodrigo Sajuria ’04 Vicente Smith ’02 Jorge Trevino ’97 Anne Woods ’90 Michael Prazma ’02 Suzanne Salas ’02 Julie Smith ’03 Matthew Trevithick ’94 Zhongwei Wu ’00 Roger Premo ’06 Toddy Salazar ’02 Jill Smith ’85 Crystal Trexel ’99 Sonny Wu ’01 David Prince ’97 Jason Salfen ’01 Carol Smith ’92 Francis Troise ’95 Lin Wu ’02 Stacy Pschenica ’03 Melvin Salveson ’47 Earl Smith II ’71 Peter Troost ’96 Lucia Wu ’04 Ignacio Pulido ’97 Jaya Samant ’83 Sherry Smoot Freitas ’99 Giacomo Trovato ’01 Chun Hsein Wu ’06 Vivek Puri ’03 Vicente Sanchez ’94 Alissa Snyder ’06 Nana Tseng ’95 Stacey Wu ’94 Adnan Qadir ’04 Diogo Santos ’06 Paulo Sobral ’00 Matthew Tsien ’93 Lauren Wu ’99 Imran Qayyum ’03 Clark Santos ’84 Jill Soley ’92 Naoki Tsukamoto ’05 Frank Wyle ’41 Rachel Qian ’98 Daniella Sardi ’01 Samer Solh ’99 Alper Turgut ’97 Jay Wynn ’04 M. Teodora Quiroga Castro ’00 Roland Sargeant ’03 Perry Solomon ’98 Beverly Tyler ’00 Fred Wysk ’01 Steve Raab ’92 Michael Schanker ’02 Steven R. Sommer ’77 Cynthia Typaldos ’80 Daniel Yang ’00 Harris Rabin ’04 Rebecca Schechter ’96 Hyun-Jong Song ’03 Jeffrey Uller ’03 Keelan Yang ’94 Dmitri Rabinovich ’04 Lisa Schirf ’02 Taeminn Song ’95 Christina Um ’00 Kenneth Yang ’95 Steve Ralston ’75 Wilfrid Schlumberger ’02 Stephanie Sonnabend ’79 Vandana Upadhyay ’92 Anthony Yannatta ’01 Kali Ramachandran ’89 Eric Schmidt ’87 Claudia Sonnet ’05 Bernard Ussher ’92 Jacqueline Yeaney ’96 Jose Ramos ’01 Adam Schneider ’78 Chandragupta Sooran ’01 Elina Valchanova ’01 Francis Yeoh ’93 James Randall ’04 C. Harry Schreiber ’55 David Sossen ’87 Telmo Valido ’03 Ali Yeyinmen ’03 Aaron Raphel ’05 Jason Schulist ’97 Tanaz Sowdagar ’03 Jan Van Acker ’92 Saujin Yi ’01 Ramesh Ravikumar ’05 Michael Schulman ’00 Tomaso Spingardi ’88 Karen Van Kirk ’91 Sandra Yie ’92 Pablo M. Ray ’92 Antonia Schuman ’58 Eric Spitz ’97 Philip E. Van Overberghe ’97 Kevin Yin ’03 Glen Ready ’02 Todd Schwartz ’04 Leo Sprecher ’76 Gerrie van Zyl ’91 Chihiro Yonezawa ’97 David H. Reed ’02 Julie Schwartz ’90 Sundaram “Sundy” Kathleen van Zyl ’94 Sunny Youn ’95 Paul Reeder ’85 Gary Schweikhardt ’73 Srinivasan ’01 Rob Varkonyi ’83 Daniel Young ’00 Chris Reichert ’04 Bill Scott ’75 Mariette Howell Sorab Vatcha ’85 Tisha Young ’02 Catherine Reigel ’01 Jeff Scroggin ’89 St. Germain ’73 Arvind Venkateswaran ’02 Julianne Young ’03 Andrea Reiners ’98 Jeremy Seidman ’03 Michel St. Germain ’74 Mario Vinci ’46 Robert Young ’92 Stephen R. Resnick ’73 Joao Seixas ’99 Amy Steele ’04 Michael Vogel ’87 Adrian Yovanovich ’83 David Reynolds ’03 Bill Selby ’85 Suzanne Stefany ’92 Michael Volpe ’03 Ping Yu ’03 Jose Reynoso-Arana ’03 Tom Selldorf ’59 Frederick Stefany ’93 Bernd Wagner ’03 David Yuan ’04 Jonathan Rheaume ’03 Erin Sellman ’04 Jeffrey Steinberg ’69 Eben Walker ’69 David Yuen ’89 Matthew Rhoden ’02 Judy Seltzer ’00 Robert B. Steinberg ’81 Jessica Wan ’97 Peter Zaballos ’90 Mario Ribera ’96 Eric Selvik ’99 Lauren Stewart ’04 Annie Wang ’02 Chris Zannetos ’85 Evan Richman ’04 Doerte Sennecke ’06 Mark Stieler ’00 Meng Wang ’06 Charles Zedlewski ’05 Jennifer Rigoni ’02 Bo Won Seo ’00 Martin Stoddart ’99 Bing Wang ’99 Carrie Zeisse ’01 Adam Rizika ’89 Diego Serebrisky ’95 Paul Strassman ’55 Shih-Yu Wang ’99 Lenny Zeltser ’05 Daniel Rizika ’93 Joel Serface ’99 Dimitrios Stratikopoulos ’97 Ying Wang ’99 Jun Zhang ’00 Robert Rizika ’94 Artit Serngadichhaivit ’00 Harold Strauss 38 Rafik Ward ’01 Jimmy Zhimin Zhang ’02 Ellen Rizika ’98 Eduardo Pimental Serra ’00 Karl Strovink ’01 Al Ward ’54 Jim Zhao ’91 John T. Roberts ’57 Rohit Seth ’01 Federico Stubbe ’03 Keith Waxelman ’02 Lan Zhou ’02 Chris Roberts ’76 Ian Shaffer ’03 Marv Su ’91 William Way ’98 David Zhu ’06 John H. Roberts ’84 Vivek Shah ’07 Courtney Sullivan Homer ’04 Cindy Weaver ’02 Herbert Zien ’73 Roger Roberts ’92 Rahul Shah ’92 Nevin M. Summers, Jr. ’93 Grace Webber ’01 David Znaty ’79 Ronnie Robinson ’99 Lisa Shaler-Clark ’02 Maria Sunwoo Philip Webber ’75 Goce Zojcheski ’02 Michael Rogol ’00 Gil Shapira ’04 S. Surya ’99 Kim Wegbreit Koran ’01 Italo A. Zunino ’96 Luis Xavier Rojas ’05 Leonard Shapiro ’02 Shankar Suryanarayanan ’90 Haoran Wei ’97 Patricio Rojas ’91 Marla Shapiro ’97 Keiichi Suzuki ’01 Jeffrey Wei ’97 Melody Rollins ’01 Kent Sharp ’73 Sandeep Swadia ’01 Maurice Weinberg ’03 Cynthia Romano ’02 Eran Shavelsky ’05 Todd Swanson ’01 Sara Weiss ’04 Gary Romano ’03 Rachel Sheinbein ’04 Anne Symanovich ’97 Richard Weiss ’77 Karin Roof ’95 Fred Shen ’04 Monika Szamko ’99 Jerold Weiss ’83 Mary Rorabaugh ’84 Yiting Shen ’06 Keiji Tachikawa ’78 Richard Weissberg ’72 25 MIT Sloan Master’s and MBA Programs

The MIT Sloan Office of Resource Development strives for accura- cy when creating this list. If your name has been omitted or listed 1936 1950 incorrectly, please contact us at [email protected] or write to us at: $1,500 33% Shareholders MIT Sloan School of Management R. W. Van Sant, Jr. Investors Office of Resource Development Robert W. Adenbaum 77 Massachusetts Avenue, E60-300 Austin F. Marx Cambridge, MA 02139-1014 1937 1951 Donor recognition categories Shareholders Newton H. Hoyt, Jr. $1,250 25% Alfred P. Sloan Founders $10,000 and above Alfred P. Sloan Directors $5,000 to $9,999 Investors MIT Sloan School Partners $2,000 to $4,999 1939 Robert O. Hirsch MIT Sloan School Investors $500 to $1,999 MIT Sloan School Shareholders $100 to $499 Shareholders MIT Sloan School Friends* $1 to $99 Shareholders Milton R. Neuman George L. Williams • Alumni donors from the Master’s/MBA and MIT Sloan Fellows Programs are listed by their degree program, then by class, and 1952 finally by giving level. 1946 • Alumni donors from the MIT Sloan Doctoral, Undergraduate, $615 36% Leaders for Manufacturing, Management of Technology, Senior Executive and System Design and Management Programs are Investors Shareholders listed by program and then by giving level. Jose M. Bosch Aymerich James B. Borden • Alumni donors whose FY05 contribution does not place them Stanley J. Dorst in the MIT Sloan School Shareholders category are listed Richard B. Gillett alphabetically at the end of each class. 1947 • Alumni donors who graduated in the past five years, and have James E. Jannetti given at any level, will be recognized as MIT Sloan School Friends. • In accordance with MIT policy, anonymous donors are not Shareholders recognized. However, the gift amount is included in the total for Joseph A. Nordstrom 1953 class credit. • In accordance with MIT policy, for individuals whose companies $225 22% provide a corporate match, MIT Sloan gives recognition of the 1948 combined amount of personal and corporate matching gifts, Shareholders provided the gifts were made during the 2005 fiscal year. Gordon W. Sangster Shareholders * This society recognizes first-time donors from the five most recent Philip R. Marsilius Michael A. Goldman graduated classes. 1949 1954 $875 25% $11,750 19%

Investors Founders Groff Collett Armando Santacruz Baca

Shareholders Investors Donovan R. Beachley, Jr. Raymond J. Epich Thomas H. Martzloff David C. O’Brien Erskine N. White, Jr. Shareholders Edward R. Hyde John Hugh Whalen Bruce B. Bates individual donors

26 1955 Shareholders 1962 Shareholders 1967 Julius J. Bellaschi Edmond R. du Pont $4,800 27% Evander R. M. Coker $5,341 33% Ernest I. Glickman $6,127 25% Douglas A. F. Dodds R. Frederick Hunter Partners Charles E. Downing, PE Investors Edwin R. MacKethan III Investors Roger K. Olen Kakuichiro Fujiyama Bruce A. Blomstrom Benjamin S. Margulies Anonymous Howard S. Krasnow Michael G. Frieze Robert W. Puffer Ollie J. Akel Investors Donald J. Ross John V. Olszewski J. Jean Paul Richard Paul Bergsteinsson Addison H. Kermath Bernard Shapiro Roger F. Sellew Fredric C. Westendorf John R. DallePezze Fred Shinagel William Watt Stanley Zalkind Thomas E. McElroy, Jr. Shareholders Dan S. Somekh Shareholders Roger A. Andersen Ronald C. Buehner Robert W. Shoemaker Henricus A. Sypkens Paul R. Haas, Jr. Clint Jones George R. Gilfoil, Jr. Ronald M. Kirshbaum Shareholders J. Paul Leahy 1965 James E. Curtis 1956 1959 Eric R. Lee Eric Rosoff Frode Nordhoy $4,790,761 29% Edward R. Scully $318 18% $8,225 18% Frederick H. Schwarz John G. Trump David Teplow Founders R. Barry Walson Shareholders Partners Larry P.Yermack Axel M. Neubohn Henry Birdseye Weil Richard J. Hamlin Anonymous Bernard Kupferschmid F. Hudnall Christopher, Jr. Thomas E. Grout Partners William H. Dyer III Edward M. Giles Stephen F. Hall Dan I. Abrams Robert I. Heller Israel E. Rubin William F. Niemi, Jr. Hans A. Herriger Investors Jerome Yavarkovsky Investors David G. Hill Robert H. Larson Leon Fattal James C. Johnson 1957 Robert F. Sherman Ronald R. Jensen Walter R. Uhle 1963 Frank H. Mason $4,200 39% Shareholders Art Rennison David J. Collins $13,825 24% Charles T. Seay II 1968 Partners Burton B. Nanus Fritz T. Wegmann Ralph J. Baron J. Thomas Selldorff Directors $6,220 20% Emery G. Olcott Shareholders Investors Antony B. T. Werner Stephen D. Donahue, Jr. Partners Herbert S. Amster Donald H. Woods Partners Jean C. Lavoie Richard A. Rabinow John D. Mueller Earle Yaffa William M. Nuckols Philip A. Untersee Stanley B. Sachar Investors 1960 Investors Robert A. Schmitz Paul R. Freshwater Shareholders William M. Fondren, Jr. Herbert A. Wainer Philip M. Walker Melvin H. Blitz $934 13% Charles H. Greer Joseph R. Brenner Don P. Moehrke Asha Seth Kapadia Shareholders Bruce A. MacDonald Shareholders Robert A. Morris Howard A. Mandelbaum Michael deMarco Victor R. Cabrera Jonathan L. Way Richard M. McCabe Louis H. Morse Samuel Appleton, Jr. John C. Dyer Ronald M. Weiers George A. Narcavage David W. Dailey Leonard L. Eng Shareholders Col Archie L. Wood Laurence G. Robbins Anthony T. Materna John J. Montesi David J. Beecy William H. Rodgers III William P. Mott III Robert V. Clapp Lawrence A. Weiss Donald V. Fowke 1966 1958 Philip K. Bates, Jr. John H. Hubbard Stanley C. Abraham Leo P. Kane $5,355 19% Donald J. Alusic $254,685 46% Henry B. Robbins Kenneth W. Estridge 1961 Gillett Welles III Partners Robert L. Klein Founders James H. Selbert Martin Trust $2,425 24% Arthur A. Caponi Ralph Wanger John L. Jauch Investors 1969 Investors Lawrence S. Daniels Investors Stephen Corman John F. Fort III $24,018 18% Anonymous William T. Harper 1964 Svein Reichborn-Kjennerud Arthur P.Alexander Founders George A. Bobelis Shareholders $127,325 22% Shareholders Edward S. Hyman, Jr. James E. Donaghy Djoerd Hoekstra Jarold W. Boettcher Robert J. Doyle Joseph J. Murphy Founders James L. Openshaw Directors William F. Massy Michael H. Payson Anonymous John M. Petrosky Roy O. Brady, Jr. Philip A. Stevens Leon H. Liebman Roy N. Poust Randolph N. Wilkinson III Thomas J. Jannsen James F. Quance Investors Charles L. Reed III Investors Marvin P. Schildkraut Laurence B. Jacobs Peter Rosoff Paul N. Schregel Peter F. Wells Benjamin S. Feinswog Shareholders Lawrence B. Kilham Nariman M. Deboo George F. Leslie, Jr. John A. Dromsky John G. Fallon Lawrence W. Garrett Steven J. Grossman

27 Arthur C. Henshaw 1972 1974 Patrick D. McCabe 1977 Niels O. Larsen Bruce A. H. McFadden Michael A. Schiff $378,090 24% $16,450 27% Eric L. Schwitzer $87,139 27% Gordon K. White John H. W. Steedman Founders Partners Jonathan Bart Tepper Founders Ralph N. Bussard Leslie Rahl Paul David Kaplan Yoshinori Yokoyama Dennis M. Kass Judy C. Lewent David W. Rice Jonathan P. Moynihan Victor J. Menezes Shareholders Anne C. Quinn, CBE 1970 Investors Richard A Baehr Directors Stephen J. Brogan Alan J. Berger Directors $15,679 21% Robert Y.L. Mao Nabil Nagib Chartouni Frank P. Carbin Patricia R. Callahan Alan Morrow Cody Edward J. Filusch Richard A. Laiderman Directors Partners John B. Fosseen Judith Katz Geschwind John J. Nagorniak Laurence F. Klurfeld Torben V. G. Gronning Sue Campbell Jones Investors Doron C. Holzer Peter M. Kunigk Susan J. French Partners Investors Shintaro Hori George J. Raff Robert B. Garman Stephen E. Memishian Ellen S. Karp Nicholas Konidaris Steven E. Shapiro Donald M. Hague Erik G. Rule Robert S. Ludwig Bradley E. Sparks Sandra L. Helton Investors Michael L Telson Ronald J. Zlatoper Leslie Schine William L. Clifton, Jr. Shareholders Robert Cayleff Weiss Lina Newhouse Wood George A. Hambrecht Walter T. Conway, Jr. William L. Baggeroer Joseph J. Heffernan John M. Greenwood Shareholders Paul S. Basile Shareholders D. Bruce Peterson Gerald M. Katz Carlos A. C. De Moraes C. Ray Britton Subhash K. Batra Alma L. Koch Jeffrey Corbin Dyer Russell N. Chute Paula B. Cronin Shareholders Lesley E. Markman Jon Eric Einsidler John C. Clark, Jr. Peter F. DiGiammarino George T. Dixon Roger L. Powell Edward Verl Fielding Paul E. Hausmann Dale C. Edmunds Creighton G. Hoffman Laurence P. Schoen R. Malcolm Fortson III Loretta Patzelt Kargol Ellen B. Epstein, Esq Clay Johnson III Thomas E. Schroeder Philip Loring Johnson Charles Musselman Partha S. Ghosh John A. Liberatore Steven Russell Kanner Marcia L. Wasserman Douglas W. Gorman Walter R. Menning William A. Gldred John C. Kingery Joseph G. Hadzima, Jr. Esq Paul T. Pureka Albert M. Harlow Gerald Scott Lutes Judith W. Hertzberg Mark K. Rosenfeld Patrick Moran 1976 Ted R. Hollenberg Adriaan M. van den Bergh Donald Vernon Murphey John W. Hussey, Jr. 1973 Emmanuel Nana Njomo $21,676 22% Michael Jimenez Thomas O. Barnett, Jr. Ernesto J. Poza-Valle Barbara D. Kafka Mario Y. Munoz $37,872 22% Jorge Alberto Villamil Directors Lawrence N. Koppelman Alan Silver Ian Scott Weir Charles F. Stone III Lester H. Nathan Founders David Michael Wexler Theresa M. Stone Antonio C. B. Oliveira Alan G. Spoon Jeffrey Mark Witzburg Eleanor D. Phillips 1971 Partners Barbara Dalton Russell Partners Dennis A. Catanzano Ilene S. Gordon Linda P. Senne $156,555 20% Ilyas Bayar Peter L. Eirich Reinhard J. Schneider Ellen Siever R. Gary Schweikhardt Winford G. Ellis Anne Symanovich Founders Stephen B. Miller Investors Russell M. Frankel Investors Craig E. Ramsell Anonymous George J. Butkovich M. William Dix, Jr. Richard J. Horwitz Miles Harbur Investors Gim P. Hom Edward A. Klepacki, Jr. Mitchell W. Hedstrom Henry E. Fradkin James Litchfield 1975 Peter C. Lamb William G. Lionetta, Jr. Paul L. Goldberg John J. Mikulsky, Jr. Stephen E. Mermelstein Esq Joan E. Martins Charles R. Monet $83,686 29% Richard G. Smith Eugene M. Moore Shareholders Robert L. Sutherland Jack Wood Jack Saltiel Paul V. Cusick, Jr. Cyril M. F. Yap Founders Robert A. Smith Russell B. Faucett Herbert B. Zien Anonymous Shareholders Michael B. Stevens R. Brian Fifer Fred M. Fehsenfeld, Jr. Giampiero Brentani John E. Strongman John L. French, Jr. Shareholders Arleen F. Gilliam Sakdiyiam Kupasrimonkol Henry B. Barg Directors Burwell Goode Larry A. La Franchi David L. Bodde Anonymous James K. Ligh 1978 Craig Lentz Raymond F. Coulombe J. Eric Daniels Mary G. Peters Steven M. Mendelsohn Myle J. Holley III Phee Boon Kang Michael D. Smolinski $19,360 35% James E. Rand Kishore Lall Donna C E Williamson Michael L. Richter Herbert J. Marks Partners Directors Paul M. Schumacher CM Roy I. Newton Timothy T. Chan Richard P. Cheston Shivan S. Subramaniam Stephen J. Williams John D. Rudolph Mark A. Farber Kendall W. Wilson Martin R. Strasmore Investors Richard D. Knopf CPA Partners Henry L. Waszkowski III Edwin M. Arippol Catherine C. Lindsay Erik J. P.Jensen Riva Poor John D. Wigodsky Ian Fisher David M. Renton Harriett I. Fox Investors Louis A. Servizio Richard A. Akemann Thomas G. Ioerger Jacques de Saussure Peter B. Stergion Howard W. Bell, Jr. Kenneth A. Isaacs Kenneth P. Fox Kenneth E. Wall, Jr. Sergio Brosio Norman K. Kidder Nik Malvania Joseph Weber Donald O. Hewitt Margaret V. Mulley L. Lyndon Wilkes III Peter F. Hollings Ted K. Osborn William D. Neal John E. Pototsky Samuel T. Redwine, Jr. Leif G. Soderberg John A. Scherf Gerald A. Taylor

28 Shareholders Margaret M. Mooney 1981 Panos E. Cavoulacos Eileen R. Kleiman William R. Banks Margaret Mundy N .C. Daniels Beth Krasna Casella Donald L. Barefoot Margaret Richebourg $49,352 24% Genevieve T. Frost Robert P. Lensch Barbara J. Bolshon Linda L. Schindler Roger D. Guerin Seth P. Maerowitz Patrick A. Burns Michael R. Scoufarides Founders Michael Kasinkas John C. Martin, Jr. Clifford L. Danbe Charles N. Smart Robert C. Salipante David M. Marieni George B. Mock III Nicholas S. Fiekowsky Trish Smith Allan R. Will Susan E. Martin Christopher D. Olson Michael E. Fitzgerald Linda K. Smith Jay R. Petschek Robert M. Packer James R. Frick Petrus A. M. Spierings Directors Khue N. Pham Charith Perera Robert N. Fuhrman Emmanuel Tiliakos Lisa J. Endlich Eric J. Plugis William H. Roege David J. Fullerton Robert R. Radcliffe Frederick J. Ruvkun William G. Golush Janet E. Andersen Partners Linda Fano Ryan Robert L. Sarno Paul D. Grabscheid Geoffrey Brooks John-Francis Mergen Scott H. Slate David B. Sayles Sarah L. G. Green Gilbert S. Godbold Jay Taylor Laura E. Stiglin Debra Greenberg Mark S. Halperin Investors Carol M. Taylor Michael S. Strickland Richard H. Grueter Teri Huttner McRae William E. Barton Cathleen R. Tilney Debra A. Tessier Beverly Chapman Harman Alexander Pankow Peter A. Cooperstein Paul D. Via Guy Vancollie Richard A. Klavans Allen B. Poppa Michele de Nevers Kayo Yamamura Raymond F. Leinen Jeffrey R. Scott Eivind Lange Carol J. Darling Grant Lauri A. Mitchell Mary G. Puma James A. Avallon Steven P. DeRaedt Kenneth M. Neuhaus Matthew D. Steele Livingston Carroll James B. Edgerly Michael D. Robinson 1980 Michael A. Connolly Beth C. Goldberg Paul D. Schaller Shareholders Leland J. Dehart Paul W. Jahn Mark H. Schneider $203,258 20% Robert E. Baron Dan A. Eschenasy Harvey D. Jones, Jr. Jo Shute Roger E. Breisch Edward M. Hancock David A. Kagan Rene A. Smith Founders Judith Ann Breisch Victoria M. Johnson Judith B. Liss Thomas A. Smith Charles T. Harris III William L. Burke, Jr. Jeffrey H. Kurn Thomas J. Mueller Nils Vogth-Eriksen Patrick D. Centanni Brent Manssen Michael Raymond Murphy Michael Weis Directors William R. Cowen Jill Reich Zimmer Ellen J. Newlands Harry Wolf Harvey C. Jones Pamela D. DeSmidt Sandra L. Perry David Kendall Dyck Pamela A. Reid Steven J. Alexander Partners Douglas L. Finke 1983 Paul E. Slobodian Roger Blake Peter J. Condakes Valerie Fleischer Leland J. Stacy III Timothy A. Holden Carl P. Lehner Michael J. Horn $20,671 35% John C. Wehner Kathleen A. Hudock Mary L. Lentz Lawrence R. Kahn Richard J. Wolak Claire L. Kapilow John D. McGraw James B. Keeler Directors James R. Wolfson Elana Lehavy Geoffrey S. Stiff Peter C. Klosowicz Allan W. Karp Marc Yagjian Charles S. Leto Dean L. Wilde, Jr. John J. Kwiatek Sara C. Long Mark D. Palmer Partners Richard P.Wells Investors Daniel B. Prawdzik Mark Regan 1984 Ira B. Artman Barclay B. Rockwood Solange A. Israel-Mintz Investors $27,119 31% 1979 Peter W. Kennedy Ellen Essenfeld Centanni Susan R. Cerrone Lawrence A. Krakauer Susan E. Dudley Margaret B. Henderson Founders $42,305 28% Karen B. Polivy Thomas R. Elliott Kenneth P. Morrison Mark D. Sonnino Susan G. Wake Avraham A. Frydman James F. Reda Founders Frank H. Fuller, Jr. Kenneth A. Rivkin Directors Christopher K. McLeod Shareholders Judith A. Gilman Debra Samuels William J. Hilliard Craig J. Barberio Russell S. Hensel Albert J. Schulman Partners Ellen M. Bard Mark E. Martich Partners Jerry D. Bailey J. Jeff Boshar Jocelyn Martich Shareholders Steven H. Rusckowski Anonymous Mary E. Cross Penny J. Resnick Wm Scott Bennewitz Michael M. Schnitzer Robert S. Franklin Jack S. Bloom Investors Regina B. Wiedenski H. Lee Hales L. Jaime Bustamante Robert B. Hedges, Jr. Patrick Le Feuvre 1982 Rowland M. Chen Robert D. Holvey Investors Jerome T. Nolte Carleton C. Ealy Patricia K. Jacobson Yuval. Almog James A. Read, Jr. $12,095 26% Steven P. Fogel Nicholas W. M. Manganaro Lewis O. Brashares Sven A. Wehrwein Mei Lin D. Fung Mary A. Spyropoulos R. Klaus Brauer Investors Michael J. Halloran Nancy Killefer Steve Frigand Harold W. Bogle Roger A. Heine Shareholders Louis R. Kornet Margery O. Cunningham Douglas J. Honnold Anonymous Deborah G. Meyer Marc S. Freed Jennifer Hurwitz Steven D. Bleiberg Stephanie Sonnabend Franklin H. Gold Steven A. Kahan David H. Bridge Constance L. Stubbs Jamie S. Harris Diane B. Katz Jane M. Burnat Deutsch Gregory B. Jacobs Marie Kaufman Susan Mileff de Morais Shareholders William J. Kane Richard L. Fischer Carol L. Bogin Kurt H. Kruger Robert R. Gilbert Charles Cameron Stephen G. Pearse Charles R. Goheen Michele F. Demarest Jeffrey L. Staley Laurent Guy Tony Dutra Raymond K. Fears Shareholders Marjorie M. Golub Nobuo N. Akiha Olivier J. Helleboid Ruth L. Bardenstein Robert H. Brooke

29 Mark R. Harsch C. Sumner Parker 1987 1988 1989 Barry H. Jacobson Itzhak Reichman Roger J. Liberman Christopher B. Roberts $21,075 28% $16,511 31% $67,855 28% Richard S. Livingston Susan M. Robertson Alison Lueders Elizabeth A. Smith Partners Partners Founders Anonymous Judy E. Strauss Mast Anonymous Paul E. Greenberg Bradley J. Peterson Jonathan A. Marcus M. Cory Zwerling Elise L. Erler Joel D. Mattox Gordon T. Hall Investors Directors Nina P. McIntyre Michael E. Cebry Tong S. Lee Miguel D. Browne Linda Cornfield Thomas D. Overton III Sharyn Hardy Gallagher Shirish T. Malekar Barbara E. Connolly Karen S. Mazer John N. Poole Maisy Ng Kostka Thomas L. Pappas David H. Epstein Kenneth T. Schiciano Susan B. Poulin Suzanne Maguire Dewey Karen Winter Reynolds Michael F. Falvey Harold E. Sharon Wade P. Mears Stephen P. Siu Kerry F. Gardiner Partners Donald W. Siegrist Jill D. Smith George S. Gavris John B. Brynjolfsson Kiu C. Siu Anton P.Teodorescu Shareholders B. Greene Jeffrey L. Dickson Thomas L. Strother Suzanne J. Yee Susan W. Bailey Steven M. Mankoff Brian D. Stansky John A. Sullivan Bruce S. Baron R. Scott Massengill Virginia M. Sullivan Gilmour Guy M. Barudin Thomas M. Pounds Investors Andrew Sumberg 1986 William J. Beckeman Jillian K. Temkin David H. Bessey Sharon Tucker Poole Andrew C. Brosseau Thomas G. Weld Lyndon D. Braun Jeffrey C. Wickham $40,765 23% H. P. Bunaes Ruby R. Chandy Denis R. Cagna Shareholders Jeffrey R. Eaton Adriana Arcila Founders David E. Canuel Timothy F. Allen Kenneth A. Farrar Christopher G. Bohrson Chi-Won Yoon Carol M. Clements Jeremy M. Cohen Shelby A. Fleck Slayton Kathryn K.Bohrson Elizabeth R. F. Coley Elizabeth A. Downie Nobumichi Hattori Sharon Sinsky Hopkins Directors Timothy D. Conners Philip R. O. Hampson George W. Jaquette William M. Kantor Anonymous Susan E. Crowe Edward J. Hennessy Emmanuel P. Maceda Wendy T. Lucas Roberto B. Bequillard Timothy F. Dann Johannes Hoech Tokihiko Mori Charles F. Melchreit Michael P. Schumacher James F. Dondero John F. Krafcik Mark S. Rangell George W. Page, Jr. Paul L.Duane Michael Lavdas Christopher M. Regan Mary E. Ruddy Partners Ellen Duke Erhardt Rod K. Lehman Adam W. Rizika Bradley C. Shoup Geoffrey E. Harris David E. Finnell David J. Lemus Thomas C. Rutledge Venktesh N. Shukla Robert W. Gref II Haruyoshi Mabuchi Donald M. Hill IV Guy D. MacNeill Shareholders 1985 Investors Jeremy C. Jaffe Anthony M. Marciano David E. Bazinet Jamie V. Blond Yuichi Jimbo Ryosuke Mizouchi Scott Brazina $334,470 25% Dexter H. Charles Martha R. Jones Norman K. Orida Kolleen Kelli Carney Attonito Shirley Chu Mushtaq A. Khan Anurag Pandit William P. Damian Founders John J. Frishkopf Rodney D. Mann James J. Pastoriza, Jr. Kenneth R. DeNatale Anonymous Patrick J. Garrett Ted Marks Scott G. Primrose James D. Elkind Bradford S. Greenleaf Jeffrey A. Oxman Mark. R. Proft Leslie M. Finch Partners Gary D. Levine Steven L. Pollack Jonell E. Schlund Mark Heidohrn Sarah Shoaf Cabot Arun Lyng Thomas R. Rosen Max S. Senter Dorothy K. Holmes S. Robert Chad Darryl K. Mikami Michael R. Salter Takamasa Shinozaki Kenneth M. Jones William S. Selby Jeremy Tennenbaum Hugh T. Shytle David J. Terzian Sidney A. Kriger Edgardo R. Sternberg John Van Opdorp Robert J. Luck Investors Shareholders Max Straube Kent A. Wallgren Dennis L. Marler Rolf Graf Daniel B. Beardslee John B. Thorsen Andrew Weiss R. Bruce McBratney, Jr. Jeffrey B. Magill Lisa Stover Bertelson David L. Verrill Anne E. Westerman Gregory A. Munster Sunshik Min Neil L. Cohen Brian K. Wolahan David Orlin Karilyn M. Perry Peter Q. Fox Phillip S. Yoo Anonymous Richard J. Packwood Ellen S. Quackenbush Christopher W. Jenkins Henry P.Aszklar, Jr. Amaury L. Prouvost Kevin I. Rowe Stephen E. Leichtman Anonymous Col Daniel J. Busby Kali A. Ramachandran Christina T. Schoen John R. Macheras Nicholas Anisimov Angie M. Chatman-Williams Amos J. Rogers III George W. Stairs Laura W. Mali-Astrue Paul E. Appleby Sean T. Enright Bernard Scozzafava Douglas Y. Wang Richard F. Manhardt Daniel J. Balkin Zachary J. Fisher Edward R. Sharp Mark A. Marasco Juan A. Chacin Philippe A. Frangules Wesley Shuttleworth Shareholders Maureen E. Matamoros Armond Friends Catherine L. Jessel-Huelsman Ronni Kantner Skerker John J. Becker Dennis G. Pratt Clifton P. Gerald Cynthia Lavoie Lisa J. Turbessi Manuel T. Campos Spoor David I. Roen J.Thomas Gormley III David D. Orgill Lydia H. Dane David Saponaro Eugene N. Harris Manuel E. Pumarada-O’Neill Lynn M. Dickey Laurence Dodge Rosemarie R. Shield Joseph L. Massimo III Karen E. Randig Thomas R. Knutson Timothy C. Fredel John G. Stephens Paul G. Milde Carol Raynaud de Lage Gerard Licea Lynn R. Garland Bruce D. Werner Howard S. Newberg Sherry L. Volk Jeffrey M. Loeb Lee S. Gavris Alan S. Orloff Kenneth T. Rankin Patti N. Goldberger Jeffrey M. Baevsky Scott H. Parrish Edward L. Rubin Francis M. A. Hawkings Stephen W. Batzell Gustavo A. Pinto Jeffrey B. Scroggin Huntington D. Lambert Ronald J. Bergamesca Anthony F. Scolaro Paul K. Stedman Joseph B. Lehmann Irvin Cernauskas Howard E. Levine Mark Keil Benson T. Louie Eric R. Nance Michael J. Markovits David Palus Lance E. Murrah Darren C. Post Pamela S. Ryan

30 1990 1991 1992 1993 1994 $56,121 33% $28,710 26% $17,395 22% $31,949 24% $19,141 28%

Directors Founders Directors Founders Directors Marzio Keiling Marcelo B. Saad Kevin T. O’Halloran Charles B. Slotnik Sanjay Swani Robert C. Ketterson, Jr. Partners Partners Partners Investors Partners Ann C. Gallo Jordi Portet B. Scott Best Steven R. Chaffin Jeffrey J. Gordman Moshe Lichtman Daryoush Larizadeh Karen S. Crandall Kenneth P. Pucker Armins K. Rusis Investors Mark D. Morelli Cheryl McDaniel Duckworth Raymond S. Wood III David Calle Edward J. Haugland, Jr. Investors Kuljinder S. Chase Investors Patrick M. Kaufer Investors Thomas N. Anderson Lukas Guenthardt Elizabeth L. Gorman Monica Lee Anonymous Alan J. Gerstein Mark J. Jrolf Takeshi Ishiga Radha K. Murthy Narayan Karl-Christian Agerup Carlos E. Kempff Tetsuo Naraha John S. Swen Harish Neelakandan Carl A. Albrecht Paul G. O’Malley Roger P. Roberts Marc J. Pfeffer Robert B. Aronoff Jeffrey A. Steinberg Aamer Shahab Shareholders Margaret M. Reynolds Richard Barth Charlie Tillett Suzanne Stefany John H. Scaife Mary Ann Beyster Richard B. Weed Hideyuki Ashikaga Shareholders Sarangan L. Chari Shareholders Roberto Casas Betsy B. Adams Jacob Friis Daniel A. Abut Shareholders Mark R. Crone Adi Alon Jonathan D. Harber Geoffrey Anato-Mensah Sartaj S. Alag Dominic D. J. Endicott Robert L. Armacost, Jr. William T. Heflin Philip Ashford Jacques Beaudry-Losique Paul M. Ferrarese P. Michael Brook Klaus O. Hermann Rodolfo Baquerizo Alvarado David C. Bolocan M. Gwen Forman Sean E. Brown Wayne P. Holmes Gaye L. Bok Jennifer Peterson Carter Masahiko Fukasawa Jill A. Christians Sara A. LaPorta Carolina Botti Julie A. Chapman Scott R. Garberding Marcello Corbo James W. Lawton Lisa Guarascio Brennan Sidney Chen Garrett J. Garcia Joseph F. Dechene Scott M. Maxwell Giovanni Carlino Mano H. Chinnaswamy Kaj Grichnik Augustus Elmer IV David Oakes Michael P. Chaudoin James E. Davis Eric F. Hjerpe J. Matthew Gardiner Pamela M. Pudar Jeffrey T. Cheung Vijay G. D’Silva Karen S. Horkitz Joseph M. Gleeson Koichi Sakurada Thierry F. D.Chevalley Joseph K. Giffler Christopher P. Huisinga Lisa Gordon Julia T. Wada Elaine Cohen Bortman Jorge F. Hidalgo Daniel E. Joensen Elizabeth C. Horan R. Mark Coleman Masahiro Hosomi Margaret Kean John P. Houston Shareholders Dana A. Cooperson Kathleen M. Kane Boong-Kyu Lee Roberta L. Kowalishin Almudena Arcelus Andrew R. Gurbaxani Rintaro Kawai Gia-Khanh Nguyen Kevin B. Kuechler Thomas A. Black Matthew Handel Edward E. Koval Kei Okuno Aaron J. Levine Lisa Butler Harry N. Hollenberg Alan D. MacCormack David W. Packer, Jr. Luis A. Llanos Julie F. Chapman Catherine S. Kenworthy L. James Newman III Celia G. Pastoriza Scott C. MacDonald Laura E. Donohue Takashi Kiyoizumi Scott A. Pearson Janet L. Quigley Clay Mark R. Poklop Scott P. Dulman Stephen A. Marcus Ram Rao Ridwan D. Rusli J. Eric Reed Robert H. Eakins Amey D. Moot Jill W. Roberts Samer S. Salty Tania J. Romanoff Wayne S. Firsty Amelie L. Ratliff Mitchell J. Roberts David J. Salwen Andrew G. Schneider Corinna Fu-Mossberg David I. Sobell Michel Sara Kent T. Scott Peter H. Schulmeyer Peter H. Glick Robert K. Stafford R. Sergio Solanot Timothy J. Sherbak Todd A. Senturia Martin M. Gottlieb Tomoyuki Teraguchi Janet Sun Frederick N. Stefany Mark Slater Eugene W. Harris John C. Thompson, Jr. Thomas M. Wilsack Kathy K. Stokes Kevin R. Swords Diane Junker Hirsch Jessica S. Toth Masayuki Tada Jill Q. Tran Maria C. Junqueira Ichiro Unoki Laurie D. Baird Marcus A. Von Kapff Juri Uustalu Fumio Kakiya Susan B. Weisenbeck James B. Duke II Gavin C. H. Zau Hironori Watase Roger N. Klepper Kirk B. Wortman Joseph Gioioso Clarence G. Williams, Jr. Frederick L. Konopka Nancy N. Wu Seth C. Hollander Susan E. Barnes Sherri L. Wolf Noah J. Kroloff Tsukasa Yamashita Malcolm J. Humphrey Peter G. Bittinger Stacey Y. Wu Richard A. Krueger Hiroaki Yokoyama John R. Jordan, Jr. Renee M. Buck Pavlos Yeroulanos Sam Levine Danielle Nazarian Stephen F. Clark Julie Y. Zhu Leslie L. McCafferty Robert M. Crooker, Jr. Peter Pavlina Nina M. Eigerman Mark E. McDonough Patricia O. Hubbell Bruce G. Rosner Robert H. Falstad Quentin P. Cote Iason Onassis Michael F. McDonough Deborah K. Schwartz Henri-Pierre Jeancard Timothy J. Greiner Antonio M. Parham Sharon B. Murphy Scott V. Seidewitz Stella Leo Todd R.Jackson Curt D. Petrucelli Tom Nickell Robert C. Young Donna D. Mayo Eunice C. Kho Murari Rajan J Andrew Patrick Muriel Mora John F.McCaffrey Susan Rousselot Parthasarath Rajgopal Umberto Pisoni William H. Newman Vito Salvaggio Karen B. Rosner Luis Troyano-Bermudez Keith T. Pigue Gabriela M. Soppelsa Christopher L. Steffens Caroline W. Ren Shankar Suryanarayanan Dean A. Vlasak Shailesh Shukla Pankaj Vaish Hideyuki Takahashi Marco A. Viola Timothy M. Wood Russell A. Wenger

Adam S. Bogue David F. McManus N. M. Milona John J. Nicols Carolyn A. Theodore

31 1995 1996 1997 1998 1999 $17,846 28% $8,287 17% $11,373 19% $11,100 23% $12,851 21%

Partners Investors Investors Investors Investors Yukari A. Saegusa Mamta R. Shah Carla F. Avila Christos Ioannou Roberto A. Awad Eric Swergold Mihai Farcas John L. Cullivan Byeongchan J. Jeong Archan Kumar Basu Timothy P. McKeown Brendan L. Dolan Stacey B. Karp Gianmarco B. Broggini Investors Joseph A. Naggar Jean S. Elliott Christopher T. McCormick Wendy Hearn Craig Fingold James B. Raboy Laura L. Granahan Ichiro Otobe Nicolas Karageorgis Thomas M Gross Jonathan E. Higginson Ellen M. Rizika Rebecca Bic-Cay Li Gregg Hardy Shareholders Judah E. Kaplan Tory M.Wolff Zeeshan H. Mirza Emily Breuner Jaquette Thomas J. Adams Thomas G. Kelly John D. Roth Andrew H. Rebele Marco Z. Alberto Mark I. Lopez Shareholders Samer S. Solh Mark Retik Luis M. Barros Prinyawut Bandityanond Ren Wang Karin Knoll Roof Beverly J. Bockus Shareholders Kathryn A. Bueker Francis J. Troise Christopher J. Braun Will N. Clurman Susan K. Christy Shareholders Jean Paul Zalaquett Rebecca M. Brown Alan Cooke Amy C. Cutler Jose Luis Espinel Liliana Castillo-Dearth Frank Feist Matthew W. Davis Domenick M. Bertelli Shareholders Sophia Y. Chiang Dennis E. Follmer Francis M. Days Vinay Bhargava Eleanor G. Baldwin Matthew L. Dearth Demian M. Gage Lorna Dewhirst Scott I Blanksteen Deborah J. Baron Roland Dennert Pilar Gomez Bravo Margaret Dings Follmer LaRoy Brantley Eric Bernard Marisol Diez De Bonilla Jessica A. Greenfield Eric J. Friedman Rohini S. Chakravarthy William Bule Carolina Eiris Molloy Ivan M. Hajadi Devra I. Goldberg Laurits R. Christensen Howard Buznitsky Lisa M. Beisser Douglas Hettinger Margo R. Gorra-Stockman Jeffrey J. Conway Richard J. Carter Paul C. Hambelton Steven L. Hill Edward J. Gramer III Stuart Emlyn Davies Mark Cheshire Scott M. Johnson Paul R. Hummel Cem Hacioglu L.J. Gage Jose M. De La Torre Verea Walter L. Kehoe Ken Kasegawa Maia A. Hansen Jeremy B. Hockenstein Lander Gamboa Rose Lee Alvin D. Lao Maarten K. Herrebrugh Christine J. Jantz Jennifer Wanling Ho Terrence W. Norchi Paul K. Lieberman Wendy B. Kahn Jeffrey S. Kasten Paula Stick Horowitz Lydia A. O’Neil Christopher J. Lyons Panop Kasemsarn Stephanie N. Kivett Ohnegian John P.Joseph Michael J. Pozsar Kenji Matsubara Aileen C. Kim Asadej Kongsiri Zuhair Khan Katrina B. Pugh Sherief M. Meleis Gregory A. Kleiner Brian Samuel Lewis Wilder J. Leavitt Todd D. Rosseau Christopher Park David A. Kovner Carlos F. Medina Angelika Mayman Paul A. Ruh Scott H. Pearce Hans Lin Christopher John Moeder Aaron F. McPherson James P. Shivnan William C. Severns Jeffrey M. Looby Mark Joseph Mullikin Michael W. Minnich Peter J. Troost Matthew J. Shannon Steven J. Luttrell Susan Marie Najjar Trevor J. Moody Deepak Verma Thomas Shimada Glenn M. Medwar Enrique Ortiz Akihiko Nakaoka Kohei Wakayama Matthew D. Siegel Dylan N. Miyake Lorianne Pannozzo Axel Nielsen Gary J.Wang Kirk A. Solo Sean S. Padgett Michael P. Rhattigan Nuno Nunes Jacqueline E. Yeaney Dan Swift Terdsongchai Putthisri Claudio U. Ribeiro Suzanne C. Oakley Brian P.Zilvitis Laura Weiss Mary M. Quillian Robert F. Tagiuri Brian Slobodow Paul Wiesner Alfonso Riveroll-Pietri Richard B Toothill Taeminn Song Alain Charewicz Silvan O. Wyss Stephen G. Rosenblatt Francisco Eduardo Varela John C. Townsend Nathan W Eigerman Roy A. Yackulic D. Robert Rutledge Alex L. Wang Nana Y. Tseng Karla J. Holcomb Peter M.L. Skillings Sherry Zhu Deslie Webb Gaven I. Khan Mark A. Bieler Kevin P. Smith Andrew T.Yang Frederick W. Broussard Perry S. Solomon Carlos Alberto Ariza Sunny M. Youn David M. Christenson Susan M. Sullivan Lu Chen Darcy M. Ytterdahl Timothy J. Foley Juan Fernando Valdivieso Mark L. Doughty Niclas K. Ytterdahl Michael D. Gerard Julie L. Walker Gouri O. Edlich Christopher P. Gutek Stephen Alan Evans Robert A. Garzotto Ricky W. Ho Anonymous Sherry Smoot Freitas Sharon E. Gillett Jeanine K. Murphy Meredith C. Applegate Chad L. Hawkinson Daniel Gilman Christopher H. Norris Gautam J. Bar George Lyman Hunnewell Heather W. Hardy Danielle A. Pedreira Tyrel A. Bennion Kevin E. Melia Dianna Magnani Jeffrey D. Peterson David K. Chan Craig Niiya Andre Morkel Patricia J. Rivera Jeremy P. Clifford Laura Dorival Paglione Michael F. Stollenwerk Diane B. Simmons Anna L. Halpern-Lande Mauricio F. Quintana Alex von der Goltz Yun Sun Stephen J. Jeselson, Jr. Paul L. Rosenstein Lauren E. Weiss Junichi Suzuki Robert E. Jordan Alison Savitz Kimberly A. Walsh Migene Kim Harold Mark Simansky Debra Woog McGinty Dennis S. Lee Zachary D. Soolman Tami T. Zhu Midori Makino John Peter Swope Dana Maor C. Ray Tharpe Merritt Maxim Andrew Tsang Jorge L. Menendez John N. Voyzey Carmen R. Monks Leland C. Webster Dan S. Olexio David A. Windsor Frank E. Samuels Xianzhong Zhu Ellen B. Sandler Simon S. Stopol Stephanie H. Tan Trevear A. Thomas Madeleine Waechter Wendy W. Wang 32 2000 2001 2002 Rune Aasen Hansen Ripley MacDonald Waymond Harris Cameron Mackey $11,675 22% $8,333 20% $13,400 27% Lynne Noelle Harrold Joy Masterson Weir Thomas Robert Isenberg Sabina McMahon Investors Investors Investors Anne Owen Jackson Charles Meade Paulo Sergio Ferraz Derezende Anonymous William Behrman George Anthony Karayiannakis Guido Meardi Jordan M. Frank Michael D. Carroll Aaron Leonard Cowen Samantha Clare Karinch Melody Nelson James Eric Geshwiler Kyungoh Kook Jason Richard Escamilla Paul Ko David Nguyen Kimberly Markert Chandragupta Sooran Timothy Olin Jarrett David Andres Krause Peter Obdeijn Michael Ashley Schulman Frederick Arthur Wysk Lisa Marie Schirf Eugene Y. Kuo Liam C. O’Connell Paul Strasma Gregory N. Leidner Sidharta Oetama Shareholders Shareholders Stanford M. Lin Tara O’Grady Darren Palmer Amundson Anthony Leonard Arone Shareholders Maria Metzger Giulio Pappalardo Matthew T. Arpin Ryan Berryman Julia Abramovich Anita Moorthy Kenneth Parkhill Pietro Busnardo Emanuele Bona Robert George Ayan Rachael Ann Muecke Stephen Perreault Jenny L. Cotner John Buhl Cyrus Hugo Beagley Andre C. Oliveira Giulia Poli Barbara A. Cushing Angel Antonio Cedeno Jeremy Bender Charles Andrews Page Josef Preschel Ralf Peter Deltrap Dieter Johannes Cohrs Lara Berkowitz Edward S. Park Marina Regelman Carmine Di Palo David Lyon Coutts Anne Bosser Anne Elizabeth Pelz Craig Rottenberg Janet Di Palo Mark Eugene Dmytruk Adam Brady-Myerov Glenn Ready Michele David Rubino Stefan Dobner Theron B. Dodson Jennifer Jane Bratton John J. Schneider Leora Schiff Kristina Nicole Fernandes Mark Edward Freiheit Scott A. Burns Joseph A Skorski Jeremy Daniel Seidman Joshua Galper Andrew Gribbel Juan Carlos Calderon Edwin Tai David Spector Fares Ali Ghandour Rami Habal Eric Kin Chan David Hendrik Verfaillie Federico Carlo Stubbe Darren C. Gibula Carles Iborra Roger J. Chiang Raghu Subramanian Isabel C. Gilbert Kerry A. James Allison Warrington Brabson Venkat Swaminathan Heidi Marie Grenek Chian Jiang Conrad 2003 Rachel Theran Sean Foster Hinners Norman Washington Jones Elizabeth Weale Debus Jeffrey Francis Uller Lycia Hossaka Terrence B. Jones Rodrigo Fernandez $21,779 30% Christopher A. Vinckier Peter Howe Olav Arvo Junttila Shuman Dave Ghosemajumder Lawrence A. Wang Simon Hughes Maxim Alexandrovich Kozlov Eric Graber-Lopez Investors Andreas Woess Nicholas Iatropoulos Herbert Ka-Fai Lai David Brent Harelick Thomas Baker Ping Yu Yoshi Ikurumi Shunichi Makita Andrew T. Henshon Erin Marie Bigley Jiecong Yu Joshua Lawrence Kanner Joshua Han Miller Steven Andrew Hill Kolawole Olofinboba Aleksandar Zelenovic Chansiri Kulvaraporn Fatemeh Nazgol Moussavi Andres Hernan Jalfen Erikka Arone Yu Zhang Luis Martin Lalanne Anthony T. Nichtawitz Kenneth M. Khouri Shawn Foutch David Malpica Naresh Rao Kevin Bruce McLellan Jennifer Koop Friends Justin K Martinez-Sowers Gregory Scandrett Michael V. McMahon Joaquin Mascaro Beneyto Arely Benavides Susan Elizabeth Minch Marcus Schulmerich Kaidra Mitchell Michael Volpe Lonny Bernath Heather Mitchell Vadim Sokolovsky Gregory Veronneau Moeller Aaron Westrick Rodrigo J. Canales Salvatore Mole Brian Toll Jason Jon Ottman Ryan Cole Lorien Moore Jie Wang Victor Hugo Pena Shareholders Christina Cragholm Melissa M Morehead Joao Woiler Matthew Rhoden Sanjay K Aggarwal Olga Filippova Daryl Morey Isidro J. Zoroza Gertrude Rowello Todd Alwart David Garraway Natalie Niers Sherwin Soo Sean Michael Athans Virginia Guerrero Kyongsoo Noh Friends Keith Edward Capapas John Barton Paul Andrew Konasewich Kenneth Bryan Olson Opoku Tenten Archampong Waxelman Christian Bassila Frances Lai Joyce A. Pinkham Rolf Cederstrom Cynthia Anne Weaver Christopher Bauserman Chung-Hung Lee Daniel S. Platt Theresa T. Chiueh Bransby MacDonald Whitton David Bierman Katrina Lundberg Philippe B. Regnault Evan Keith Cohen Eric Bentley Witherspoon Dexter Lim Borbe Enrique Augusto Perez Randi Rittenband Laurent Rene Cohen Keelan K.Yang Lucas Bravo David Reynolds Michael G. Rogol Scott Constance Justin Lucus Youngblood Alexandra Brykman Safiye Aylin Sasa Cesare Roselli Hala Fadel Lan Zhou Elizabeth Burns Tanaz Sowdagar Hendrik Ten Hoeve John Thomas Hutchinson Jeffrey Chen Eric Spaly Julian C. Ting Stacy C. Jackson Friends Lawrence Chiang Anatolie Vizitiu Gary B. Kaplanovich Maria J. Andrews Simon Chiavarini Jyothi Vourganti Dean Howard Langendorf Tomomi Aozono Brian Curtis Mark Waterman Wohlfarth Angela Y. Liao Nisa Bradley Cynthia DeTar Daniel Hungyi Yang Kjell Johannas Lundal Lucia Helena Brower Curtis R. Eubanks Wendy Tricia Alejandra Marta Byczkowska Hong Fan Ben D. Ackerman Maldonado Anthony S Calderon Colleen Filipo Russell R. Ayan Matthew Walker McDonald George Chang Patricia Gagnon Gregg A. Bierman Juan Mendez Neeraj Choubey David George Gagnon Mikhail Dobrolioubov Smaranda Maria Moisescu David H. Chung Isabel Veronica Garcia Leiva Kristine Foss Monica Naranjo Riccardo Cumerlato Andrew Gitelson James P. Hamilton Sunanda Narayanan Kevin Dorn Douglas Grant Jennifer Lynn Himelfarb Junichi Nonami Steven Gifford Fong Rui Gu Gerard Lawrence Gokul Rajaram Juan Antonio Garcia-Gayou Nathaniel Harrison Issac Stephen Levin Geoffrey Beran Rose Mark Schroeder Giordono Robbin Higby Salvador J. Paiz Melinda Alison Rothstein Eitan Golani Mark Alan Hughes M. Teodora Quiroga Castro Rafik Michael Ward Naoki Inaba Marco Antonio Roman Amanda Russell Whalen Theodore Kim Astrid Warden Adam Frederick White Renee Kuo Burnside Caroline Hee Young Yang Jonathan Levin Phillip Lin Piyush Lumba 33 2004 Arturo Trevino 2005 Eric Westphal Ervin Tu Erik Williams $20,921 71% Alina Turian $135,010 75% Soichi Yamaguchi Lucas Turton Demetrio Zanartu Investors Sara Weiss Joseph Zeff Christopher David Bloise Ryan Wener We gratefully acknowledge the contributions and Matt J. Ziskin Robert Byrne Mary Elizabeth Wheeler 2005 Jonathan Gruber Mark Williamson efforts of the Class of , who, upon their gradua- Shareholders Jeb E. Keiper Hester Wong tion, raised important support for MIT Sloan’s new Karim Allal Abbadi Russell Kellner James Wynn Robert Abbanat David Douglas Kuo Veronica Yeung facility. Sixty-six percent of the class participated in Daniel Alberto Alarco David Lee this campaign, raising over $128,823. Jennifer Andrews Manav Maheshwari Friends Roy Appelman Lesley McAdams Gino R. Abram Gautam Anant Awalegaonkar Karen Freeman The following lists acknowledge class members of the Kenneth Beausang Shareholders Rahul Kamath 2005 Jang Won Boo Geoffrey Vincenzo Arone Natalie Karpov Class of who gave to the class gift fund or other Daniel Brenninkmeyer Christopher Bell Christopher Lee School initiatives. J. Andrew Bunce Stephen Bernier Susan Lee Thierry D. Casiez W. Scott Bush Lance Macon Alberto F. Cavallo Michael Sterling Cann William Musto Pratap Chakravarthy Scott Case Keith Nichols Directors Roberto R. Grosman Anthony Chen Jung In Chey Anil Phull Chad Heaton Joshua Grover John T. Chen Ronald Chiu Adnan Qadir Amauri Chienmin Hong Weiguo Gu Kaming Cheng Ana-Marie Codina Gil Shapira Alexander Loucopoulos Justin Guichard Mog Chu-Yang-Heu Zoran J. Crnja Rajesh Srinivasaraghavan James K. Marchetti Lucas Raduy Guimaraes Geoffrey Coco Thomas Earnest Cheng-Soon Wee Liesbet D. Peeters Xiao Guo Manuel Costescu Chad Christopher Eckes Jose Guzman-Morales Jeffery Davis Jeffrey Enquist Partners Gudmundur Hafsteinsson Neil DeSilva Eduardo Erana Paula M. Ferguson Elizabeth M. Hawkins Patrice Manuel Diaz-Migoyo Deborah Finkel Antonio Miguel Galloni Xingcen He Raquel Diniz Derek Mather Flynn Benton Moyer Stephanie Jill Healy Joseph Dunn Michael Goddard Jaime Enrico Reyes Singson Hildegard Heins David James Edery Douglas McLean Gordon Brynjar P.Young Mr. Grant I. Ho Luca Erpici James B. Graham Michael Holmes Kwai-Kuen Fan Brian Hennessey Investors William Hull Jesus M. Fernandez Salido Courtney Sullivan Homer Asier Alea Maria del Pilar Iglesias Jed Finn Michael Wasfy Ibrahim Terry N.Angelos Eric Jacobsen Meghan Mary Fitzgerald Amit Jaisingh Francisco Anselmi Matthew Jarman Joseph Fowler Courtney Jones Artis Arnold Rushan Jiang Stephen R. Fox Daniel Jones Sissel Johanne Auerbock Nicholas Jones Allison Thomas Friedman Patricia Chien Fang Kao Adeyemi Babington-Ashaye Mary Joseph Bruno L. Furtado Jeremy Kirsch Silvia Battigelli Canga Kamwambe Andrew Garschagen Karina Krulig Edward Bicks Shane Keats Timothy Gasperoni Andrew Kvaal Robert Ian Blakely Johanna Louise Klein Andre Gisiger Kristina Laforteza Alberto Eduardo Brause Michael Klein Yael Glassman Luis Eduardo Laguna Aponte Nicolas Burr Mark Lehrich Sergio Gongora Julius Lai Peter M. Capozzoli David Lipman Inigo Gonzalez de Cosio Nhat-So Lam Alberto F. Cavallo Nicholas Lopez Mr. Anil Gopala Derrick C. Lay Omer K. Cedar Elliot Lum Rachel Greenblatt Shenkiat Lim Juan Chaia Jeremy Victor Macdonald Stefan Hamann Min Lin Wayne Chang Kotaro Matsuda Elizabeth Haynes Francisco Lippke Mark Chasse Yukari Matsuzawa Mark Andrew Hendy Katerina Lusher Ms. Stella S. Choi Brett T. Mattingly Mr. Carlos A. Herrera Joshua John Mahon Ansgar Chorhummel Jung Min Ms. Elizabeth A. Hoffmann Christophe Meunier Sergio Civetta Cory W. Monroe Thomas Hollenberg Andrea Migliassi Bruce A. Constantine Nicole Nollette Benjamin Holzman Alvaro G. Mucida Yichao Cui Alice Park David Homing Hui Salvador Muzzo Lia Nadia Dean Darrin T. Parker Tae-Young Hwang Boris Ondercin Michael Dean Bryce Poland Saowani Serene Jiratanan Ethan McDowell Phillips David Eckford Brett Prince Kimberly Picciola Morrie Eisenberg Ramani Ramachandran Matthew Richards Lisa Engler Christine Reiners Cummins Evan Seth Richman Deborah Farese Manuel Robledo Tort Todd Rose Alberto Maria Farronato Ms. Marjorie L. Rosenthal Michelle Aileen Santos Salazar Edward Freyfogle Michael Shirk Joshua Jay Schanker Avtandil Garakanidze Jose Francisco Siade Cajiga Erin Sellman Ricardo Garcia de Alba Ellen Greenfield Sluder Andrea Silva Darr Gerscovich Hadi Solh Bradley Smith Jeffrey Gerson Robert Stevens Daniel Smith Brian Jay Greenfield Noora Sweid Justin Steinman Dimosthenis Tsoukalas Torben C. Thurow Michael I-Hsiang Tsung Carlos E. Tocantins Charles Turlinski Renaat Ver Eecke Javier Eduardo Vicente Dubocq 34 Mr. Jaymee L. Johnson Friends MIT Sloan Leaders for Conor Joseph Jones Juan Barbolla Perez Byoungyup Kang Toben Curtis Blalock Manufacturing Program Armina Karapetyan Guenevere Vanessa Burke Norman Karo Jim Chauvapun Anita Khosla Dale M. Chon Jiny Kim Eugene F. Chow Jose A. Kliksberg Justin Cook Bong Dug Koh Joney de Souza Philip Komarnitsky Alexis Paul A. Dimarucot Dimitri Korvyakov John Doyle Milena Krasteva Renata Duarte Directors Caryl B. Brown ’95 Anthony Kwame Kyiamah Suzanne Pulliam Farnsworth Augustus O. Tai ’91 Kristine T. Budill ’93 Charlotte V. La Niear Ron Feldman James Burke ’96 Cecile Lal John Fesko Investors Kristie Burnham ’02 Phong Le Josephine R. Gibney Anonymous David H. Campos ’01 Elaine Lee Stephen G. Hazelton Elizabeth J. Altman ’92 Matthew Capeci ’03 Jooyong Lee Toshihiko Hirashima James Robert Anderson ’02 Eva M. Casamento ’92 Alex Leung Laura Kauderer William N. Anderson ’95 James W. Casamento ’88 Yicong Li Csaba Koppany Teresa L. Bazel ’99 Douglas S. Cesiel ’93 Jian Liu Carolyn Lee Brian Bowers ’03 Jimmy Chow ’93 Katherine Long Mr. Andrew T. Luan Matthew F Bromberg ’00 Sherry L. Clough ’98 Paola Maleh Derick G. McGee Christian Caballero ’05 Mark S. Coggin ’95 Kabeer Mamnoon Sumeet Mehra Keith E. Camhi ’91 Elana Ann Cohen ’04 Mitchell Martin Yonas Nebiyeloul-Kifle Jeremy W. Cram ’97 Stephen C. Cook ’98 Kirk David McKeown Jesse Needleman William W. Crandall, Jr. ’94 Jeremy W. Cram ’97 Cornelius C. McNab Louis Joseph Paglia Matthew D. Gates ’04 Michael Dickinson ’99 Steven Nolen Christina W. Pan William B. Householder ’83 Audrey A. Dima ’96 Alison O’Neill Paul John S. Paredes Christopher K. Keith ’91 Franz R. Drees ’89 Nimish Parikh Joogy Joo Park Christine Marie Lindsey ’04 Bryan G. Eagle ’94 Deborah Pasachoff So Young Park Minja Lohrer ’05 Rasheed El-Moslimany ’02 Prem Venkatachalam Pavoor Joel E. Peito Junior James L. Nagle ’91 Erol Erturk ’91 Steen Pedersen Timocin H. Pervane Susan Perrin Nagle ’91 Michael J. Farrell ’98 Hsulin Peng Claudio P. Querol Calderon Hiep The Nguyen ’02 Wayne S. Firsty ’90 Sergey Y. Pichugov Kalina Ranguelova Stewart Ongchin ’05 Kevin J. Florey ’97 John M. Pierre Kimon Roufas John Palmer ’05 Lynn A. Foley ’93 Jorge Porras Gutierrez Ethan G. Russell Aaron M. Raphel ’00 Douglas S. Fong ’98 Christopher Porter Bernardo Santos Neves Rachel Sheinbein ’04 Mary E. B. Gallahue ’91 Camille Prado Manu Sareen Jason M. Smith ’05 Robert Andrew Garber ’04 Cyriaque Puemi-Sukam Balazs Xavier Sarlos Kevin M. Smith ’00 Kenneth S. Gayer ’98 Priti Rajagopalan Nicolas A. Scafuro Maria C. Sonnet ’05 Emanuele Filiberto Gillio ’02 Stephen Ripp Yanina E. Silva Kevin M. Thompson ’96 Bryan Gilpin ’95 Elena Marshall Ritchie Adrian Tompsett Jose Leoncio Valdes ’03 John E. Glancy, Jr. ’92 Nathaniel Roberts Jane G. Tunnell David J. Wenstrup ’91 Ankur K. Goel ’03 Liliana Robu Courtney Briscoe Wheaton Claudia Wu ’05 Soon Hock Goh ’93 Luis Xavier Rojas Rebecca White Benjamin G. Goss ’00 Brian Roughan Catherina Dewi Wijaya Shareholders Cynthia Deller Goss ’00 Israel Rozen Hideaki Yajima Thomas E. Abell ’87 Christine Jutte Graham ’92 Carolyn Sages Makoto Yokoo Jeffrey L. Alcalde ’97 Eric Green ’03 Rachel Roberta Schiff Tomohiro Yonei Arthur Altman ’95 Kris Robert Harper ’02 Omar Shalhoub Charles Zedlewski Michael M. Amati ’04 Heath Holtz ’05 Miranda B. Siano Frederic Zussa Lindsay N. Anderson ’93 Peter N. Kacandes ’97 Enakshi Singh Cristen Camille Baca ’02 Suparna B. Kadam ’02 Myong Sup Song James S. Ball ’00 James A. S. Katzen ’96 Mauricio N. Soufen Brent Russell Beabout ’02 Brian J. Kelly ’96 Donato Torres Todd H. Becker ’91 Thomas M. Kelsch ’96 Naoki Tsukamoto Craig Belnap ’95 Christopher Kilburn-Peterson ’05 Peter Vinick Amy C. Blake ’94 Vida Killian ’03 Shourong Wang Ryan L. Blanchette ’94 Adam J. King ’99 Michael Wargel Andra S. Bolotin ’94 Leslie Erin Koenigs ’02 Brian Wilson Brian Bowers ’03 James P. Koonmen ’89 Ana Yankova Roberta Michelle Braum ’99 Jason Ku ’94 Jinah Yoo Christine Bromberg ’00 Edward M. Lee ’94 Zheng Yuan Matthew F. Bromberg ’00 Mark E. Lundstrom ’91 Leonid Zeltser James R. Brooks ’04 Mark D. MacLean ’96 Parand Zendehrouh Melinda Keyser Manente ’95 Kazunori Maruyama ’05 Meghan McArdle ’00 Alison D. Mccaffree ’99 Neville McCaghren ’05 Christopher McFadden ’03 Kevin Patrick Meehan ’01 Michael J. Mihelick ’97 Robert D. Moeller ’97 Christopher Albert Morrison ’00 Kimberly R. Murdoch ’04 Neetu Nangia ’03 35 Lawrence R. Oliver ’94 Neha S. Bar ’96 MIT Sloan Michael Parkins ’04 Ana S. Bolotin ’92 Michael L. Peterson ’94 Mark C. Capone ’91 Fellows Program Randal D. Pinkett ’98 John Stuart Creighton ’00 Karen Ponchner ’02 David J. Fanger ’96 Olapeju A. Popoola ’96 Brad Douglas Forry ’00 Jonathan A. Rennert ’93 Diana V. Garcia ’02 Scott A. Rosenberg ’03 Kenneth S Gayer ’98 Yoel Roznitsky ’01 Jeffrey T Gray ’94 Joan S. Rubin ’93 William Graylin ’00 Vikram N. Sahney ’05 Brian R. Harris ’90 Mira K. Sahney ’05 William B. Hetzel III ’93 Vikram N. Sahney ’05 Jennifer Y. Hsu ’97 1951 1958 Mark S. Schaefer ’00 Michael Allan Kimber ’99 David J. Seitelman ’93 Charlene Land ’96 Rachel Sheinbein ’04 Ian B. Land ’96 John W. Bard Directors Lincoln James Sise ’03 Francis J. MacDonald, Jr. ’92 Willis White, Jr. Erik Sean Smith ’03 Kevin B. McKenney ’00 Gregory J. Smith ’93 Kimberly R. Murdoch ’99 1953 Robert L. Kelly Rajesh Srinivasan ’01 Vivek M. Phanse ’00 Frank T. Murray David B. Stagney ’03 Michael A. Raftery ’94 Matthew Street ’01 Jonathan M. Rheaume ’03 Bennett D. Buckles Jonathan M. Strimling ’96 Scott A. Roza ’98 1959 Timothy James Sweitzer ’02 Julia S. Schneider Johnson ’90 Elise Tagawa ’99 David J. Stec ’98 1954 $320 27% John T. Tagawa ’99 Nathan V. Stuart ’92 Catherine Anne Tedesco ’01 Roderick D. Tranum ’93 Shareholders Amy S. Vallely ’04 Kathryn Whiting ’92 Shareholders Franklin J. Ross Jens P.Voges ’02 Brian S. Wolkenberg ’00 George Konkol Franklin Walter Jeremy C. Wallach ’00 Raymond F. Winch Oliver Meschan Weir ’00 William Wheeler, Jr. Kemp B. Wills ’91 John I. Cumberland, Jr. Qian Wu ’01 1955 Friends 1960 Bevin Barberich ’04 Aaron David Bilstrom ’01 Shareholders $6,850 31% Christian Caballero ’05 Alfred E. Fernald Gregory Shane Chalker ’02 Philip J. Gow Partner Gavin James DeNyse ’01 C. Franklin Logan William R. De Long Sarah Egan ’05 C. Maston Thomas Tamara Greenlaw ’05 Investors Peter Torgil Haughton ’04 Peter Wallack Merrill Holpert George Heaps-Nelson ’05 Edward J. Ward, Jr. Howard H. Kehrl Aimee L. Henkle ’04 Frederick A. Roessle Debika Bhattacharya Ingham ’02 David Knudsen ’01 1956 Shareholders Charlene Lieu ’05 Conrad F. De Sieno Carlos Mazariegos ’05 Theodore G. Macklin Kevin B. McKenney ’05 Shareholders Cordes G. Seabrook, Jr. Wesley D. Margeson ’03 Oswald Newell, Jr. Milton A. Zimmerman Andrew James Muench ’03 Stewart Ongchin ’05 Harry W. Buchanan Leroy E. Day Mira K. Sahney ’05 Lee C. Tait Micah T. Samuels ’02 Kevin D. Schwain ’04 1961 Eric A. White ’03 1957 $1,200 16%

Shareholders Investors John H. Mitchell Jerome W. Keating

James R. Connell Shareholders Robert E. Huber

John Ingles Peter M. Sarles Cornelius F. Weiss, Jr.

36 1962 1966 1969 1972 1976 $3,255 33% $1,600 27% $6,525 20% $1,525 18% $1,525 16%

Partner Shareholders Directors Investors Investors John F. Prendiville, Jr. Robert W. Bishop William M. Newport Cline W. Frasier Louis Chertkow Elmer L. Field Robert W. Van Niel Investors Charles A. Heller, Jr. Shareholders Shareholders Nathaniel Howe Robert Lee Lord Robert P.Arnold Shareholders Fredric Cohen Ralph L. Pickard Millard T. Battles, Jr. Charles F. Baxter William A. Garrett Shareholders David O. Smart, IV Robert L. Dorn Rev Gerald L. Tavis Richard J. Jackson George W. Bates W. Zeigler, Jr. H. Hoyt Harris W. D. Williams George T. Smith Chester W. Diercks, Jr. Charles A. Norman Dennis H. Vaughn F. Fox Stoddard Hunter E. Harvey, Jr. Fred Wojtalik Robert J. Baker, Jr. John Weibel, Jr. S William Linko, Jr. Zwi Kohorn Lincoln D. Cathers Irving Skorka George P. Buckey Albert O’ Trostel III James M. Osborne 1967 1973 1977 $113,285 31% $1,090 24% $11,155 27% 1963 1970 Founders $1,835 25% Investors Partner $1,900 26% Robert F. Calman Thomas R. Thomsen William Harral III William A. Porter Investors Phillip J. Riese Investors R .Anderson Pew Shareholders Colby H. Chandler Investors Donald H. White Charles A. Buchanan, Jr. Investors Alan E. Thomas Barry Rosenberg Douglas R. Hellstrom Richard A. DeCoste Shareholders Douglas A. Milbury Charles E. Larson Shareholders Shareholders Mattio O’ Diorio C. Clement Patton Richard V. Nuttall, Jr. John W. Anderson Roosevelt Jones Richard L. Hartman Spencer E. Smith Robert P. Clagett Robert C. Luscomb, Jr. Walter R. Herbert III Shareholders Russell C. Youngdahl Gordon Cochrane William P. Schlarb John T. Howley Tommy C. Bannister Robert M. Pedraglia Edgar A. Vaughn, Jr. Richard M. King Robert E. Fenton August J. Gartner W. John Swartz H. P. MacCowatt Ryuzo Fujiki James L. Powell Robert H. Cowart Edgar H. Twine E. Quinton Gordon Robert E. Darling George W. Morgenthaler Richard G. Rhoades C. Victor Meyer Robert H. Rollins II 1964 1974 Megan Evans Thomas G. Frost $1,800 29% 1968 1971 $21,505 17% Ann H. Sandford

Investors $48,330 23% $6,950 31% Founders Steve Cenko Gerhard H. Schulmeyer 1978 Wayne A. Robins Founders Partner C. Richard Jones Sir Robert B. Horton Investors $5,275 20% Shareholders Thomas J. Vincent Peter B. Oram Reinhard Frank William B. Andrews Anthony Hoberman Partner Partner Investors F. Duane Ackerman Nicholas Baracos Herman R. Staudt Richard V. Borzilleri Shareholders Peter B. Teets Russell M. Barnes Jon D. Helms Jerome A. Halperin James R. Fitzgerald Investors Michael Holtcamp Shareholders George P. Fryling II Wendel W. Cook Shareholders David R.McLellan Brian J. Geraghty Philip Lang Nicholas D. De Pasquale Feliciano Giordano T Franklin Morring Shareholders Philippe G. Masson B.Jack Risse Elizabeth M. Hastings Irving Taylor Alan F. Haycraft Thomas C. Moody David Lee Winterhalter Thomas M. Perdue Calvin H. Perrine Ronald W. O’Connor Robert E. Spitzer Robert L. Swain Keiji Tachikawa 1965 R. Bryan Erb Francis A. Wiesner 1975 Stephen G. Janick III Taieb Hafsi $450 17% James E. Singer Alan F. White $2,400 20%

Shareholders Investors Neil A. Holmberg Peter D. Fenner Robert A. Nafis Edward W. Kissel

Richard H. Boehm Shareholders William A. Frye Thomas J. Lazear Edward G. Koepnick Joseph R. Miller Witt I. Langstaff Calhoun W. Wick

Gordon D. Kirk John T. Murray Mrs Maureen C. Stefanini Simone B. Stephens

37 1979 1983 1988 1992 1996 $9,259 10% $4,870 13% $3,750 20% $600 10% $525 9%

Directors Partner Investors Shareholders Shareholders Roger W. Hale Thomas E. Kelly III Richard E. Agee Timothy G. Forbes Gustavo F. Gomes Edward J. L. Davies Masaaki Iida Sanjay Saini Partner Investors Angelo J. Messina Seth H. Robbins Hideki Takezawa Robert M. Amick Stanley J. McLaughlin Claudia P.Wells Robert O. Otto Shareholders John H. Ward Shareholders Bruce W. Ellis Chiaki Yasuda Andrea Borondy Kitts Philip P.A. Panzarella Shareholders Yvonne D. Jones Jiro Tsuboya Jerry L. Johnson Nicholas P. Matich Seiji Takashima Ronald Shuff 1993 1997 Dennis A. Zalar George W. Waller Freeman T. Beasley, Jr. Gus J. White $11,620 19% $725 13% A. Thomas Jacoby Carl J. Willis 1980 Founders Shareholders Elizabeth Moore David J. Lewis Peter E. Chenard $29,138 23% 1984 Kwang Jong Cho Investors Jeffrey B. Pantages Founders $20,700 14% 1989 Mark F. Miller Donald C. Simonson William L. Bucknall, Jr. Terry T. Taber Founders $750 12% Shareholders Investors Ronald A. Williams David A. Gift Colleen K. Charles James B. Ellis II Shareholders Stephen C. James Gregory E. Colbert Denise D. Selden Shareholders Eric K. Azuma J. David Janiec R. Brooks Stover R. Wiley Bourne, Jr. Charles M. Cutler Georges C. Lammoglia Kuan-Hsiu Hsiao Xiaoying Gao Edgar A. Reed III 1998 Shareholders Larry D. Lyons Stephen N. Gerson Mineo Shimura W. Hagood Bellinger Juan A. Solares $1,300 13% William G. D. Frederick Nelson W. Marshall James R. Dominy Richard D. Hansen Richard C. Millar Charles A. McCauley Mark W. Stromberg Shareholders Sister Mary N. Malinowski Kent H. Williams R. Scott Gill Ann Peterson Janie L. Mines John T. Proske 1990 1994 Chih-Hong Tsai Takayuki Yamazaki 1986 William J. Way $1,800 17% $6,350 12% Raymond Yong-Am Yoon Claudia B. Liebesny $495 8% Investors Directors Gregory R. Bellopatrick Anthony J. Ahern Stephen A. Malone John D. McEvoy Robert B. Thirsk 1981 Kate Fickle Sammie D. Joplin Shareholders Investors $255 10% Jester M. Loomis III Belinda H. Adams Michael E. Charles 1999 Richard A. Alston Shareholders John P. Casey Shareholders $3,110 20% Walt W. Braithwaite 1987 Bryan L. Kinnamon Koichi Harada Ludmila Kopeikina Cathy-Ann Martine-Dolecki Investors Irvin E. Boyles, Jr. $1,325 11% Mary B. Schaefer Viney Sawhney Craig McHugh Jarchow Marion M. M. Jacks Diana W. Tremblay Ronnie Robinson Robert C. Sharp Investors Paul Vogel Paul M. Brenner Vi A. Traynor Harvey M. Donaldson Shareholders Edward J. Zellner Jeffrey G. Barnett 1991 1995 Anita J. Bizzotto 1982 Shareholders Ernesto M. Hernandez Lawrence A. Denton $26,150 20% $825 11% Ching-Lan Lee $1,750 13% Larry W. Hull Jill McCarthy Founders Shareholders Norris P. Sneed Investors Shyamal Choudhury Daniel H. Leeds Christopher M. Hernandez Christopher J. Amenson Stephen W. Lasswell Licio A. Minvielle-Lagos Steven C. Gerber Takeo Suzuki Investors Douglas E. Walker CAPT James K. Louttit Richard E. DeVaughn James William Pennito Shareholders Ira D. Adelman William O. Albertini Shareholders John Potter Larry C. Atha Kirk P. Gregg James T. Quinn Edward E. Heller, Jr. Charles R. Higgins Kenneth W. Senior Jeffery C. Martin C. Dale Register Gary L. Burkart William U. Borger Frederick E. Cone Robert L. Miller Nicholas J. Neuhausel Thomas E. Richards

38 2000 2004 MIT Sloan $845 13% $1,851 10% Management of Shareholders Investors Technology Program Clara Chow David A. Cunningham Peter Lewis Duffy Ken D. Knight Jane L. Dyer Joseph A. Gigantelli Shareholders Martha A. Leonard Patrick D. Fleck Naoki Kitamura Judith Beth Seltzer Shiv K. Shrestha Partners Imran Qayyum ’03 Curtis A. Springer Jun Chen ’03 William Trotter Shelton ’03 Jonathan B. Green ’93 Joseph H. Simpson III ’91 2005 Susan D. Spencer ’97 2001 Investors Thitipong Srisomburananont ’04 $18,270 28% Rajiv Chamraj ’00 Mitsuhiro Tatsunokuchi ’99 $1,675 21% Chung L. Ho ’93 Mark P.Taylor ’91 Partner Yujiro Mochizuki ’04 Hisakazu Tsuboya ’03 Investors Su Kon Kim Hector E. Mosconi ’93 Hirokazu Tsuchiya ’95 Jane Rudolph Akira Matsuki Charles Myers ’98 Thomas Varghese ’99 Jeffrey M. Ver Heul ’94 Tony F. Weighous ’89 Shareholders Investors Shih-Lung Wu ’03 Julian Weinstock ’95 Stephen Eric Bonder Fred Peeples Bickley Edward Y. Wong ’91 Alexsis M. de Raadt-St. James Francisco Enrique Diarte Shareholders Soo Sheung Wong ’91 Martin Eugene Frederick Martinez Frederic C. Amerson ’89 C. David Wright ’91 James R. Maus Shozo Egoshi Robert C. Amick ’93 Hirotaka Yamanami ’00 Jeffrey Allen McCutcheon Yoshiro Fujimori David B. Aune ’88 Ali Yeyinmen ’03 Hong Wang Brian P. Halligan William E. Bachrach ’98 Dean R. Zaumseil ’88 Hirofumi Hojo David A. Birnbach ’89 Friends Sanjay Inamdar Elliot S. Blackman ’82 Friends William Baillie Toshio Kitamura Robert L. Capell III ’88 Partha Anbil ’01 Kellee Sue Condra Koji Nakae Juming Chen ’03 David Tsay ’03 Michael Ross Dudley Frank Neri Albert C. Chin ’02 Charles Douglas Ebersole Nobuhiko Shiga Christopher Lee Clay ’01 Hitoshi Adachi ’95 Luis Carlos Parody Brian J. Smith Todd Cleland ’03 Goban Arasu ’90 Yukari Tsuji Barbara J. Corning-Davis ’01 Bruce T. Beck ’88 Jong Seok Yoo Roberto Cremonini ’94 David T. Beecham ’93 2002 Ghaleb H. Daouk ’91 Harry F. Benz ’93 Shareholders Evan J. Davies ’99 Biliyar N. Bhat ’99 $275 8% Michael H. Lawrence Robert Sean Donahue ’00 Donald K. Brown ’88 Cesar Pablo Michelutti Roger S. Foster ’98 Kevin G. Christensen ’95 Shareholders Lee Anne Visci Carl B. Frank ’00 Harriet J. Cohen ’95 Raymond Thomas Leach Dale Ivan Freelove ’99 Rajiv Desai ’94 Geoffrey K. Gill ’89 Joseph M. DiTommaso ’92 Friends Joseph M. Gilman ’90 Simon Dodd ’04 Masaaki Maeda Bruce D. Gobioff ’84 Mark J. Emery ’91 Sergio Regueros Roberto Gregori, Jr. ’93 Thomas R. Flanagan ’95 Jon G. Retzlaff Fernando Guillen ’91 Kevin M. Gunn ’98 Koichi Hagishima ’92 Lyle L. Hart ’92 John Hallal ’85 Mary Jane Hellyar ’94 2003 Guy T. Hatch ’94 Audie E. Hittle ’91 Thomas Hornstein ’00 I-Pai Terry Hsiao ’98 $2,120 19% Catherine L. Iacobo ’89 Akira Kagami ’97 Yasushi Iguchi ’04 Masatoshi Kano ’94 Investors Mikihiko Kato ’91 Harry A. Karasopoulos ’01 Hartmut B. Junghahn Toshiro Kawahara ’02 Patrick S. Kiraly ’97 Hikaru Kawachiyama Toshihiko Kawamoto ’00 Anita M. Kirkpatrick ’85 Le Kha ’00 David P. Mattis ’92 Shareholders Masahiro Kimura ’95 Brendan Patterson ’99 Thomas Curtin Shalom Kopelman ’94 Israel Ruiz ’01 Timothy Dimacchia Sigmund Kvernes ’93 R. Eric Schmidt ’87 Akira Kamosaki Donna Gail LeClair ’99 Byron Sheppard ’97 Soo-Keun Lee Grant F. Lenahan ’89 Steven J. Siegel ’91 Kou Yew Liew ’04 Karen E. Simms ’87 Friends Paul P.Lu ’03 Stanley A. Smith ’93 David Gitlin B. Declan Murphy ’88 Scott D. Spence ’97 Katherine I. O’Flaherty Tharunidhar Narravula ’00 Nevin M. Summers, Jr ’93 Gary Romano Glenn E. Nedwin ’87 James G. Timmins ’87 Jean Su Hiroyuki Ogawa ’91 Peter M. TomHon ’90 Haruhiko C. Ohya ’03 Tracy R. Trent ’97 Jonathan P. Otterstatter ’92 Masaya Watanabe ’91 Tomoyuki Oya ’00 Allan Wiser ’89 Ramesh G. Pai ’98 Kurt M .W. Zachhuber ’96 Ismael Perera ’90 Vidyadhar Phalke ’03 39 MIT Sloan MIT Sloan Senior Executive Systems Design and Program Management Program

Founders Peter A. Rosenbladt ’88 Shareholders Friends Philip C. Kwok ’95 Hugo T. Ruberg ’70 Jack Wei Chao ’99 Sylvie N. Bokshorn ’01 Patrick J. Scollard ’76 Shui-Fang Chou ’02 Keith J. Britton ’03 Investors Edward F. Sise, Jr. ’84 Jean M. Ellefson ’01 Douglas C. Hague ’01 Robert L. Pennock ’73 Noel E. Stasel ’73 Christopher C. Mann ’00 Thomas K. Mathai ’02 Teck-Meng Tan ’92 Carol A. McDevitt ’02 Allan J. McQuarrie ’03 Shareholders Robert L. Thompson ’91 Donald J. Mecsey ’02 Tulsi D. Ramchandani ’02 Otto Berner ’79 Wayne Willich ’91 Habs M. Moy ’00 Raymond I. Ro ’01 R. Dean Buchanan ’89 Philip Perschbacher ’00 Sridhar Sadasivan ’03 John J. Carey ’88 Philip S. Allen ’80 Luis C. Rabelo ’01 Hans D. Schumacher ’02 Robert W. Child ’69 Joseph T. Brophy ’87 K. Hari Reddy ’01 David E. Willmes ’03 Howell S. C. Chou ’69 James A. Carman ’94 Agus Sudjianto ’01 Paul M. Cofoni ’88 Henry V. Greene, Jr. ’65 Paul B. Adamsen II ’98 Leon D. Crossman ’78 Martin D. Klenke ’92 Michelle T. Beckert ’00 R. Adm Peter De Mayo ’81 Bernard W. Miner, Jr. ’77 Michael H. Bravo ’99 Norihide Eguchi ’91 Palmer L. Moe ’91 Daryl R. Hunt ’99 Mike Fillipoff ’81 Richard M. Ornitz ’85 William Edward Hutchison ’00 Jean-Pierre Y. Gillard ’85 David R. Rees ’83 Gregory Joseph Mascoli ’99 Michael A. Grimaldi ’87 Roy H. Sjoberg, Jr. PE ’87 Timothy Root ’00 Jerry D. Hawsey ’84 Leo B. Tudela ’92 Vijay Ruhela ’99 George R. Howard, Jr. ’70 Ighor Uzhinsky ’90 Mark Winfield Scott ’99 Andrew C. Knowles ’76 Edward R. Vrablik ’70 Steve P. Sides ’00 Gai Kobayashi ’83 Changsen Wan ’88 Robb Wirthlin ’00 Albert J. Kullas ’73 Chiswell D. Langhorne, Jr. ’79 Keith J. Martin ’68 Alberto A. Masoero ’76 Joseph A. McCue ’86 Stanley E. McGinley ’79 William H. Muloin ’71 Roger P. Onorati ’81 Donald E. Ridley PE ’75 George Rieveschl, Jr. ’56

40 MIT Sloan MIT Sloan Doctoral Program Undergraduate Program

Founders Ephraim R. McLean ’67 Founders Friends Gary L. Bergstrom ’68 Marc H. Meyer ’80 Anonymous Andrea S. Au ’02 Patrik L. Edsparr ’94 Michael G. Miller ’96 Vivek Bohra ’96 Brett C. Boshco ’05 Saman Majd ’79 John R. Minahan ’88 C. Richard Cryer ’61 James P. Flynn ’02 Paul R. Samuelson ’77 Sandra W. Morgan ’73 Bruce A. Enders ’70 Prabha P. Kannan ’02 Kazuhiko Ohashi ’93 Fred Kayne ’60 Anusha Prasad ’03 Directors Themis A. Papageorge ’82 Ronald A. Kurtz ’55 Glorimar Ripoll ’01 Paul L. Eckbo ’76 Gil Preuss ’98 George J. Michel, Jr. ’53 Mark I. Alpert ’64 Bruce E. Stangle ’74 George P. Richardson ’85 J. Spencer Standish ’45 Neil S. Bernstein ’59 John F. Rockart ’68 Frederick A. Bielawa ’59 Partners Saul A. Rubinstein ’96 Directors Kenneth H. Bohlin ’52 Paul R. Carpenter ’78 Debashish Sarkar ’82 Elliot K. Wolk ’57 Arthur Coren ’54 Donald H. Peters ’69 William A. Shaffer ’76 John D. Cunningham, Jr. ’38 James A. F. Stoner ’61 Yong-Chul Shin ’98 Partners G. Michael Gignac, Jr. ’59 Lakshmi Shyam-Sunder ’89 C. Yardley Chittick ’22 Joseph J. Grant ’83 Investors Fred I. Steele ’65 Robert J. Gellert ’53 Joseph M. Harian, Jr. ’49 C. Charoen-Rajapark ’86 John D. Sterman ’82 Roger D. Lace ’73 John T. Hassey ’48 Kenneth R. Chelst ’75 Marti G. Subrahmanyam ’74 Kenneth Whipple, Jr. ’58 Ronald H. Jacob ’70 Jean-Marie Choffray ’77 John M. Thomas ’66 Shrah S. Ng ’99 Alan F. Dowling ’81 James M. Utterback ’69 Investors Harold Ottobrini ’48 Arnout Eikeboom ’94 Rita Vachani ’87 Mark A. Arvin ’69 Norman N. Rupp ’47 Peter S. Fader ’85 Anil Verma ’84 Arthur L. Beals ’70 Carl G. Sandin, Jr. ’58 Nathan B. Forrester ’82 Bruce D. Weinberg ’93 Howard W. Boise, Jr. ’42 James F. Gammill ’80 Albert Edmund Wenger ’99 Donald L. Cassidy ’54 Priscilla A. Glidden ’83 John P.Workman, Jr. ’91 Robert J. Demartini ’41 Leonard M. Lodish ’68 George Michael Wyner ’00 Ira H. Dorf ’61 Arun S. Muralidhar ’92 S. Akbar Zaheer ’92 Stephen Friedman ’59 Scott A. Neslin ’78 Srilata A. Zaheer ’92 Michael D. Kinkead ’66 Nitin Nohria ’88 Richard I. Linde ’53 Jay E. Paap ’79 Friends Lawrence A. Lowe ’57 Michael Peterson ’92 Laura Jean Black ’02 Gilbert V. Rohleder ’48 Eric R. Rosenfeld ’80 Joon Chae ’03 Bernard J. Ruskin ’49 Terry W. Rothermel ’63 Jean Jacques Degroof ’02 Norman P. Soloway ’62 Denis M. Slavich ’71 Carsten Svarrer Osterlund ’03 James Veras ’49 John W. L. White ’44 Shareholders Anonymous David F. Andersen ’77 J. Scott Armstrong ’68 Shareholders John D. Aram ’68 Anantaram Balakrishnan ’85 Edgar C. Ahlberg ’45 Joseph Y. Battat ’84 Rosemary L. Batt ’95 Norman S. Andrews ’49 Jonathan D. Bohlmann ’96 Annette L. Beatty ’92 Vernon B. Baker ’49 J. Randall Brown ’65 Roger E. Bohn ’82 Richard B. Chandler ’67 Shyam R. Chidamber ’94 Lloyd Brodsky ’91 John C. Collins ’65 Simeon Chow ’87 Jon A. Chilingerian ’87 Robert W. Danforth ’52 Perry D. Cohen ’71 Kevin G. Crowston ’91 James H. Duffy ’55 Joel E. Cutcher-Gershenfeld ’88 William G. Dyer, Jr. ’84 David R. Ellis ’68 Deborah J. Dougherty ’87 Theodor H. Eytan ’85 William C. Estes ’49 Robert G. Fichman ’95 Steven F. Freeman ’98 Raymond F. Ferrara ’67 Peter G. Gerstberger ’67 Ronald E. Fry ’71 George A. Filak ’54 Cyrus F. Gibson ’69 Michael M. Gold ’64 William A. Hanpeter ’46 Stephen M. Gilbert ’92 Dale L. Goodhue ’88 Joseph Robert Hastings ’03 Paul M. Goldberg ’71 Nitindra R. Joglekar ’97 John W. Hurd ’74 Bruce L. Golden ’74 Henry Kon ’96 Stanley L. Jarrow ’41 Judith R. Gordon ’77 Charles H. Kriebel ’69 Ben Khowong ’78 Arnold J. Herzog ’75 Douglas B. Lowry ’69 Philip L. Magley ’67 Philip A. Hirschsohn ’98 Dennis L. Meadows ’69 William P. Moser ’48 Jody Hoffer Gittell ’95 Cyrus R. Mehta ’70 L. Kenneth Rosett ’42 Meichun Hsu ’84 Prakash Mirchandani ’89 Murray M. Scott ’41 Soulaymane Kachani ’02 Walter L. Ness, Jr. ’63 Paul W. Stern ’54 Pieter Klaassen ’94 Rogelio Oliva ’96 Robert J. Sukenik ’54 Barbara S. Lawrence ’83 Jeanne L. Palleiko ’84 Thomas L. Varney ’81 Natalia Levina ’01 Brian Tomlin ’00 Raymond D. Wachter ’53 Donald E. Lewin ’67 Philip R. Webber ’75 John P. MacDuffie ’91 Lester T.Yaguchi ’59 Johnny T.Yang ’04

41 Charles A. Simberg MIT Alumni, MIT Sloan David B. Spencer ML ’71 Steven James Stasick CE ’04 Students, Parents, and Daniel S. Stout SDM ’98 Philip A. Stymfal Friends Mr Wendell G Sykes ’50 CH John B. Webster Andrea Zwerling

Anonymous Renata Alves ’06 Founders Investors Robert A. Backus Anonymous (2) Ray W. Ballmar Laura Basha David Pun Chan ’72 LI Donald A. Belfer Brandt C. Casey ’91 ME Nelson An-ping Chang Tim E. Bliamptis ’79 EE Bing Chen ’06 Lucy Chen Wang P ’02 P ’04 James E. Colgate ’83 ME Yung-Chang Chen P ’07 Bruce Cheng Jennifer K. Desisto Jui-Fen Chen P ’07 Eugene Flood, Jr. EC ’83 Paul D. Edelman PhD ’78 PH Ludo F. L. Gelders H. Gifford Fong P ’02 Jordan L. Golding Leigh M. Gelser Victor K. Fung ’66 EE Kenneth A. Hagstrom Ginger D. Green ’97 CP Robert L. Gipson Theodore W. Henning ’46 EE Bette J. Hart John Harrison Goldie Estate Harvey Kram PE ’42 ME Stephen Hom Charles E. Harris Jacob and Nancy Levy Yunshui Huang CE ’94 John M. Hennessy Donald C. MacLellan M. Charles R. Laverty, Jr. Tsu Ho Hong P ’05 Lynn Magill Elaine Lee Po T. Ip ’34 CE Donald A. Mains ’47 CH Siu-Shyong Lin John W. Jarve ’78 EE Jonathan Mallamud Mats G. Lindquist Charles W. Johnson CE ’55 David L. McAdams Asha Lundal Thomas & Ingrid Kwok Professor Kenneth P. Morse Anne Migliaccio Beer Kenneth Lo ’68 PO Charles W. Monroe CH ’55 David T. Morgenthaler ’40 ME Neil E. Paton ML ’69 Matthew T Mulkern ’53 MT Scott F. Richard ’68 EE Joseph C. Perkowski CE ’77 Darren D. Obrigkeit CH ’97 Mary E. Salipante Debbie Slavich Emilio Salvador Prieto ’06 Jack C. Tang ’49 CH Amy B. Smith ’84 ME Malati Raghunath Paul K. Tchang ’44 ME Sang H. Sohn Pamela J. Ruprecht P ’04 Polyvios C. Vintiadis CE ’61 Jennifer P. Stone Elaine Siederman P ’07 Patrick Wang P ’02 P ’04 Seung Y. Suh Joseph J. Siederman P ’07 Marjorie M. T.Yang ’74 MA Sue E. Thompson P ’08 Margaret L. Sjoberg M. James L Waters ’46 WC Nancy Tsuei ’06 Directors Abraham I. Dranetz EE ’48 Shareholders John D. C. Little ’48 PH Cynthia Albert-Link Nicholas Piramal Philip Bragar ’48 EC Christine Bromberg Partners Fouad N. Chartouni Donald M. Alstadt David R. Chittick Steven C. Carhart ’70 WC Barbara D. Cunningham and Craig Hattabaugh Frank P. Davidson Terry Marsh Marshall H. Edgell ’61 PH Dorothy F. Silver P ’83 P ’91 David C. Evans ’88 AA Bertram R. Silver P’ 83 P’ 91 Jay W. Forrester EE ’45 John F. Snow ’35 ME Charles L. Gagnebin III EE ’66 Denise Tyler Debra R. Gift P ’03 Moises J. Goldman Richelieu D. Hemphill ’79 EE Chester S. Ho CH ’87 and corporate William R. Hopkins ’44 OE Anne Kiyoizumi Joel H. Lamstein Dennis H. Lytle Allegra Manacher Stephen A. Massey Michael F. McBreen Laurel Miyake Kristin K. Moeller Cynthia Z. Peltier ’81 NT Robert A. Peterson Steven B. Pitschke CE ’80 William E. Pitts Heather E. Richardson CP ’05 Christopher Schuh John H. Scott, Jr. foundation donors foundation Kady K.L. Shen P ’05 Ein-Yuan A. Shen P ’05

42 IBM Corporation Richport Developments Ltd. IDe Rolls-Royce ING Groep N.V. Samsung Cheil Industries Institute for Information Samsung Corning Industry Company, Ltd. Intel Corporation Samsung Electronics Intelligroup, Inc. America, Inc. International Finance Corp. SAS PPe Investment Technology Group Saudi Aramco ITT Industries Schlumberger Jefferson Pilot Foundation Shell Oil Company Please note that the following list recognizes contribu- Johnson & Johnson SK Telecom tions of $10,000 and above made during fiscal year 2005. JPL State Street Company Kamakura State Street Global Advisors Kirin Brewery Company, Ltd. Sumitomo Mitsui Banking Korean Air Corporation LG Electronics Sun Microsystems 170 Systems, Inc. Darby Overseas Investments LG-Caltex Oil Corporation Suruga Bank A123Systems DecisionPoint Software Lockheed Martin Corporation Taico Properties, Inc. ABB Dell Inc. Lucent Technologies Inc. Tata Consultancy Services– Acorn Foundation Deloitte Tech-Venture Center MasterCard International America Aetna Inc. Delta Environmental and McKinsey & Co. TD Banknorth Agilent Technologies Education Foundation Merck Company Foundation Techint Group Alcoa Incorporated Det Norske Veritas AS Merck Research Teknekron Software Systems Allstate Insurance Company DiamondCluster Laboratories–Boston Telenor ASA Amazon.com International, Inc. Merida Meridian, Inc. Teradyne Incorporated American Axle Direct Energy Merrill Lynch & Co. Foundation Testa, Hurwitz & Thiebeault American Express Corporation Eastman Chemical Co. Merrill Lynch & Co., Inc. Toyota Applied Marketing Science Eastman Kodak Company MetLife TRW Automotive, Inc. ArvinMeritor Ecopetrol Microsoft Corporation U.S. Air Force Asiana Airlines eFunds Corporation Ministry of Defence, Singapore U.S. Army AstraZeneca EMC Corporation Mitsui & Co., Ltd. U.S. Aviation & Missile Pharmaceuticals, LP Enterasys Networks, Inc. Mizuho Bank, Ltd. Command Axcelis Technologies Epoch Foundation Mohegan Sun U.S. Navy Axle International Ernst & Young LLP Morgan Stanley United Nations–DESA Bank of America Esquel Enterprises Limited Motorola Ventures United States Coast Guard Bank of Tokyo-Mitsubishi, Ltd. Estoril Corporation Motorola, Inc. United States Postal Service Bear Stearns & Company, Inc. Exxon Mobil Foundation NASA United Technologies Biogen Idec Fidelity Charitable Gift Fund National Kidney Foundation, Corporation BMW Fidelity Investments Singapore University of Lecce Boeing Company Flagship Ventures Management National Science Foundation UPS Boston Consulting Group Flucon Equipments National Technology Verizon Communications, Inc. BP America, Inc. FNC Technology Company Enterprises Company Volkswagen Foundation Broad Institute Ford Motor Company Nemak, S.A. Wolf Greenfield and Sacks, P.C. BT France Telecom Nippon Telegraph & Telephone World Vision BT Group Fubon Insurance Corporation Worldwide Business Research Cabot Corporation Fujitsu Nomura Research Institute, Xerox Corporation C&S Wholesale Grocers, Inc. Fuji Xerox Co. Ltd. Ltd. (Japan) Yazaki Corporation Campbell Soup Company Gartner Nortel Networks Yazaki International Canon, Inc. GE Aircraft Northrop Grumman Corporation (YIC) Capricorn Ventue Partners n.v. General Catalyst Partners Corporation Care USA General Electric Foundation NTT DoCoMo, Inc. Carlson Capital, Ltd. General Mills Inc. Parametric Technology Celanese Corporation General Motors Corporation Corporation CellExchange, IBCC General Motors Foundation Inc. Pasco County CEMEX Genrad Pfizer, Inc. CERT Genzyme Corporation PFPC, Inc. ChevronTexaco Corporation Gerdau Group Pitney Bowes Inc. China Petroleum Gerhard LLC Polaroid Pipeline Bureau Gifford Fong Associates PolyTechnos Venture Partners Choate Hall & Stewart Globalstar TESAM Argentina GmbH Cisco Goodwin Procter LLP Pratt & Whitney Citigroup Google, Inc. PricewaterhouseCoopers LLP Civil Aviation Authority of Groove Networks Procter & Gamble Singapore Guardian Life Insurance Product Genesis Continental Airlines Company of America Publicis Group SA Credit Suisse First Boston H.C. Starck Pyramid Digital Solutions CSK Harley-Davidson Raytheon Company Motor Company Reuters Holdings PLC Harris and Harris Group Inc. Hewlett-Packard Company Honeywell

43 Office of Resource Development Cynthia Albert Link Catherine Canney Phone: 617.253.3989 Executive Director Associate Director, Donor Relations and Fax: 617.253.5584 Stewardship [email protected] Margaret Keller Dimock Director of Principal Giving Alex Dippold Associate Director, Reunion Giving Loren Van Allen Director of Annual Giving Lillian Paratore Associate Director, Annual Fund Paul Zernicke Director of Major Gifts Jill Soucy Assistant Director, Corporate Relations David Weber, SM ’83 Director of Corporate Relations L. Denise Tioseco Assistant Director, Reunion Giving

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Tamara Cupples

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