Fall 14 Executive Magazine

T H E C U L V E R H O U S E C O L L E G E O F C O M M E R C E

EXECUTIVEM A G A Z I N E

REACHING OUT WITH DIVERSITY INITIATIVE

WOMEN OF BUSINESS ANALYTICSPage 40

Page 4 Page 12

STEM STUDENTS TAKE ON BREAST CANCER CHALLENGE

I N S I D E T H I S I S S U E

Powerful Women of Culverhouse

FA L L 2 0 1 4V O L U M E 1 9 I S S U E 1

CEO and President of Lockheed Martin Corp.and University of Alabama Alumna,

Marillyn Hewson

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C O N T E N T SOUR W OMEN'S ISSUE IS IN HONOR OF BREAST CANCER AWARENESS MONTH.

NOTE TO OUR READERS: THE ANNUAL DONORS L IST IS MOVING TO THE NEW CULVERHOUSE ANNUAL REPORT PUBLICATION COMING SOON.

3We welcomed more than 7,800 students to the Culverhouse College of Commerce this fall, and a record number of students have enrolled in the Universitys STEM Path to the MBA program. The 2014 STEM class is the largest ever with an enrollment of 306 freshmen. That brings the total number of students enrolled in the program to more than 650 since its inception in 2011, and our first group will graduate with their MBAs in 2016.

This innovative program allows students majoring in science, technology, engineering and math to earn an MBA in one additional year after completing their undergraduate degrees. It is one example of how Culverhouse is positioning itself to become a top 25 business school a business school with relevance, rigor and innovation. By developing these rigorous and innovative programs we are preparing our students to meet and exceed the challenges of global business needs.

Our MBA program at the Manderson Graduate School of Business was recently ranked the top over-performing program in the nation by Poets & Quants, and our online masters program is ranked 12th in the nation by U.S. News & World Report. The Culverhouse School of Accountancy

is ranked eighth in the nation. That is its highest ranking in the history of the College. And we continue to have 100 percent placement rates with our management and information science program.

We are also recruiting diverse students from all backgrounds, in and out of state, who are ready to become future leaders like the women highlighted in this issue of the Executive Magazine. We profile some of the most successful women to graduate from Culverhouse, including Marillyn Hewson, CEO of Lockheed Martin; Sharon Oswald, dean of the business school at Mississippi State; and Cynthia Day, president and CEO of Atlanta-based Citizens Bancshares Corp. and Citizens Trust Bank.

Since 2002, we have offered a graduate-level specialization in business analytics, and we continue to look for innovative ways to increase our role as a leader in this ever growing field. This year, we will develop an undergraduate curriculum in business analytics.

At Culverhouse, we teach students to be creative and to create value, and we prepare them for the challenges of a global business world. We have a corporate recruitment program that matches our students to key positions at companies. The question after

they graduate becomes, Is corporate Alabama ready to create opportunities and hire these students?

In the year ahead, we will continue to accelerate efforts to produce graduates who stand ready to solve the challenges of our global economy. We will continue recruiting the best and brightest to achieve excellence in the business world.

Creating leaders, innovators and jobs it is the goal of Culverhouse and how we build a better business school. Now we can build a better Alabama by hiring these students and investing in our future.

J. Michael Hardin, PhDDean, Culverhouse College of CommerceRussell Professor of Business and Professor of StatisticsThe University of Alabama

FROM THE DEANDEAR FRIENDS AND ALUMNI

C U L V E R H O U S E4

O ctober is Breast Cancer Awareness Month, but events to shine the light on fighting the disease are prevalent throughout the year on UAs campus, such as the Alabama gymnastics teams annual Power of Pink. However, the gymnastics team is not the only group on campus to join the fight against breast cancer. In early 2014, students in the STEM Path to the MBA program were busy developing business plans to market new treatments and diagnostics for breast cancer during a national competition among selected universities.

Three UA teams all from the science, technology, engineering and mathematics program gained real-world experience in breast cancer research when they competed in the

2014 worldwide Avon Foundation Breast Cancer Startup Challenge. And they were the only undergraduate teams mostly freshmen and sophomores in the global competition of more than 40 university teams. The Avon Foundation for Women, the National Institutes of Health National Cancer Institute and the Center for Advancing Innovation launched the challenge to advance biomedical inventions to treat breast cancer and bring breast cancer technologies to market.

Student teams from universities across the globe were presented the opportunity to start new companies by developing a 10-page strategic business plan for one of 10 selected diagnostic or treatment technologies projects and then turn their inventions into

commercially marketed products. The students presented their business plans to a panel of biomedical industry judges.

The Breast Cancer Startup Challenge is designed to accelerate and increase the volume of breast cancer inventions in development, said Marc Hurlbert, executive director of the Avon Foundation Breast Cancer Crusade. In addition to improving public health, we hope to spur economic growth and provide universities a platform to develop their entrepreneurship-learning portfolios.

Sophomore and STEM student Megan Torman served as the CEO of team one. Although none of the UA teams made it to the final round of the competition, Torman said her team was perfectly happy with the outcome.

STEM STUDENTS TAKE ON BREAST CANCERCH LLENGE

BY ED ITH PARTEN


It definitely opened our eyes to another whole side; we never thought any of us would be working in pharmaceuticals or anything like that, Torman said. It was interesting to see a different perspective and be working in something that had actual potential to change peoples lives.

As part of the STEM program, students are required to work in teams to develop business plans and solutions for real-world problems over a course of several five-week projects. The Avon Breast Cancer Startup Challenge was one of those projects.

It added a complete new perspective to our five-week projects because most of us complain about the petty things like having to do this project and present, but this project took less than five weeks and we came out with so many results, Torman said. It was an entire new level of work that we had done. It made us see that we are capable of so much more than we think we are sometimes.

Each of the UA teams was made up of three to four students as well as a seasoned biomedical entrepreneur, an experienced biomedical researcher and an attorney experienced in patent law. Most of the students said they saw the competition as an opportunity to get involved and gain experience, but for others it hit close to home.

I have had relatives die of cancer, sophomore Christian Shannon said. Ive always shared a passion for the battle against cancer. Mine was not specifically breast cancer, but there is a history of colon cancer in my family.

During the summers, Shannon works at a camp with children who are battling cancer. He said his dream job is to be an oncologist at St. Jude Childrens Research Hospital.

They are some of the most inspirational, humble and bold kids on the face of the earth, he said. A lot of the kids at the camp are told they will not be alive next year, and so any chance I can get to fight cancer is something I want to be a part of.

For freshman Sheela Kailasam, the timing of the project made her even more interested in joining a team.

My great aunt died right before we were offered the project, she said. I also was involved in a breast cancer project my senior year in high school. After that, I became really interested in breast cancer research and started researching treatments on my own.

For freshman Michael Royko, his mother is a nurse, and one of his relatives had a jaw removed because of cancer. Royko started work this past summer with a chemistry professor to begin research on colon cancer.

Each of the students had different reasons for getting involved in the challenge, but all of them said they now have a deeper understanding and appreciation for medical research.

Sophomore Rachel Ramey said she learned just how much time is involved in making a product readily available.

I was surprised at how much goes into taking a drug from the point of research until its commercially available, Ramey said. It can take 8-10 years. Realistically, its not going to be that one day somebody discovers a cure for cancer in the lab, and thats the cure for cancer. Theres a whole lot more that goes into it.

Dreaming big, looking big but having the humility to accept failure when you know that youve gone too far with something is what Shannon said he learned from the experience. All these teams here today were the Davids in the David and Goliath story. We were the only undergrad teams in the competition versus graduate teams. We set our aspirations high, and we had a lot of energy compared to the other teams, but at the end of the day it was a great learning experience.

This was probably one of the most meaningful experiences that weve had in STEM, he added.

Although the UA teams did not advance to the final round, one team has an investor interested in its technology, and a second team has been encouraged by a Pacific Northwest company to develop and market their product..

IT DEFINITELY OPENED OUR EYES TO ANOTHER

WHOLE SIDE; WE NEVER THOUGHT ANY OF US

W OULD BE W ORKING IN PHARMACEUTICALS OR

ANY THING LIKE THAT. IT WAS INTERESTING TO SEE

A DIFFERENT PERSPECTIVE AND BE W ORKING IN

SOMETHING THAT HAD ACTUAL POTENTIAL TO

CHANGE PEOPLES LIVES.Megan Torman

7UAS AVON BREAST CANCER CHALLENGE TEAMS AND THEIR HOMETOWNSTEAM 1 IMMUNOTHERAPY USING GRANULYSIN ACTIVATED JAKE GREEN, SOPHOMORE,

SPARTANBURG, SOUTH CAROLINA

RACHEL RAMEY, SOPHOMORE, DAYTON, OHIO

MEGAN TORMAN, SOPHOMORE, UMATILLA, FLORIDA

JIMMY WITT, SOPHOMORE, BIRMINGHAM, ALABAMA

TEAM 2 IMMUNOTHERAPY USING MODIFIED SELF-TUMOR CELLS SHEELA KAILASAM, FRESHMAN,

COLORADO SPRINGS, COLORADO

WILL MACGAVIN, FRESHMAN,

TEMECULA, CALIFORNIA

MICHAEL ROYKO, FRESHMAN,

CROSSVILLE, TENNESSEE

CHRISTIAN SHANNON, SOPHOMORE, DALLAS, TEXAS

TEAM 3 DIAGNOSTIC FROM BIOPSIES WITH SOFTWARE ANALYSIS JIM KRAFCIK, JUNIOR, ST. LOUIS, MISSOURI

ANDREW TALBERT, SOPHOMORE, ORLANDO, FLORIDA

ABBY WHITE, SOPHOMORE, DALLAS, TEXAS

MIA MCCLINTIC, FRESHMAN, OSWEGO, ILLINOIS

MENTORS AND ADVISERS DR. NADEEM ANWER, EGEN INC.,

HUNTSVILLE, ALABAMA (HUDSON-ALPHA INSTITUTE)

BOB CRUTCHFIELD, HARBERT VENTURE PARTNERS,

BIRMINGHAM, ALABAMA

LOYE BUCK, FORMER FDA COUNSEL,

HUNTSVILLE, ALABAMA

TOD OPICHKA, ENTREPRENEUR, HOUSTON, TEXAS

NICK CONTI, VICE PRESIDENT OF RESEARCH AND

DEVELOPMENT FOR QUEST DIAGNOSTICS,

NEW JERSEY

DAN DALEY, ALABAMA INNOVATION AND MENTORING

OF ENTREPRENEURS, UNIVERSITY OF ALABAMA

RICK SWATLOSKI, OFFICE FOR TECHNOLOGY

TRANSFER, UNIVERSITY OF ALABAMA ROB MORGAN, CULVERHOUSE COLLEGE OF COMMERCE, UNIVERSITY OF ALABAMA

Left to right: Megan Torman, Jimmy Witt and Rachel Ramey. Not pictured: Jake Green

Left to right: Michael Royko, Sheela Kailasam, Christian Shannon and Will MacGavin

Left to right: Andrew Talbert, Jim Krafcik, Abby White and Mia McClintic

STEM STUDENT FINDS HER KEY TO SUCCESS IN A POPULAR ADVERTISING SLOGAN

BY ED ITH PARTEN

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F or sophomore Megan Torman, one of the most successful marketing slogans in the world contains three simple words she lives by, words that have led to her unbridled success in academics, in life and at The University of Alabama.

Her decisions and outlook on life and her education follow just three simple words three simple words that have propelled her to a National Merit Scholarship and a 4.0 GPA in chemical engineering. Torman is in the STEM Path to the MBA program at the Culverhouse College of Commerces Manderson Graduate School of Business. The science, technology, engineering and mathematics program and the National Merit Scholarship are what attracted this inspirational student to the University.

Alabama offers one of the best National Merit packages that I have found, Torman said. I narrowed my choices down to chemical engineering, so the STEM program was very appealing to me, she added. I saw the STEM brochure and that helped me make my decision. Its a great program and I thought, wow, thats awesome, I can get my chemical engineering degree at the same time and get a completely different experience.

Although Torman started the STEM program with 133 other classmates, she moved ahead of the other students to start her online MBA courses earlier this year. Dr. Rob Morgan, executive director for innovation initiatives at the Culverhouse College of Commerce

and the STEM program, is Tormans academic adviser. Morgan said he is in awe of Tormans accomplishments.

Megan is entering the MBA portion of the STEM program a year early, Morgan said. Most people have a really difficult time finishing chemical engineering in four years, and shes finishing it in three. I would even guess the average is closer to five.

The STEM program and the words she lives by have also led Torman to become a co-inventor on a hybrid mechanization device thats designed to provide for better fuel efficiency for vehicles. She has a provisional patent pending in the District of Columbia on the invention she co-created with STEM partner Josh Stoddard. That makes them the youngest students at The University of Alabama to receive a provisional patent.

The first concept started with an engineering professor who came up with the idea of creating a push-dinghy device to pull behind semitrucks. The device would use the energy collected to kinetically power the semitruck.

Torman and Stoddard expanded on the idea after Torman got some advice from her dad, a mail carrier in her hometown of Umatilla, Florida. The initial idea was to hybridize 18-wheelers, but now they have incorporated the idea into an air-assisted, hybridizing device for smaller vocational vehicles like mail and garbage trucks.

Morgan suggested to Torman and Stoddard that they pursue a patent on their device.

Josh and I looked at each other and thought, why not?

The University of Alabama approved the patent pursuit, and it is moving forward. The STEM duo is now seeking business partners to help create a prototype and investors to produce and market the device.

And, by the way, Torman accomplished this during her freshman year.

It all makes my head spin. Its so exciting, and I never anticipated this happening, especially not during our freshman year, Torman said.

Torman also loves music. She was the drum major in her high school band, and she plays the piano and alto saxophone. She said it was a natural fit to major in chemical engineering.

Well, you know they say music and math go hand in hand. I completely agree with that. I have always loved math. Its always been one of my favorite subjects.

She added that she wanted to major in a subject that would challenge her and provide career opportunities and job security.

Then she heard about UAs STEM program and knew it would also be a perfect fit.

I realized at a STEM conference, talking to different people in different industries, trying to get a feel for what I wanted to do and realized that I really didnt want to be a mathematician. But I knew I wanted to use math, so I decided to go the engineering route. I do like science, but I didnt have a lot of science or chemistry. I only had one chemistry

C U L V E R H O U S E1 0

class in high school prior to coming to Alabama, and I was hoping that I would enjoy it once I got here. I absolutely love it.

Before Torman arrived on campus, she said she was worried and didnt know what to expect, especially since she came from a small town.

That first semester was really rough for me. Being away from home, being away from friends and family. It was completely new, difficult and challenging. But once spring rolled around it got a little bit better, and the next thing you know youre done with the first year and youve made friends.

Although her time on campus was not easy at first, she said her faith helped her through her first year.

It's always really nice knowing no matter what you go through its all going to be OK. It doesnt matter if you succeed or not.

She is now well-settled in life on campus, and she does not seem to be passing up any opportunities that come her way.

I know once I start doing something I enjoy it. I just have to do it. I just have to get there.

As part of the STEM Business Honors class, students work on a business innovation project every five weeks. They are given a theme and are charged devising an idea for a new product or business.

Megan came to me and said, Dr. Morgan, if you told me a year ago that I would spend all of my free time dreaming up ideas for new products and businesses, I would have told you that you are crazy, but now Ill be walking around campus thinking about what new product or business I can come up with to solve problems, Morgan said.

Its stuff like that, that really makes you feel blessed about what youre doing as a teacher, he added with a smile.

Those first-year jitters are long gone. Torman has not looked back, and she has not been busier. She also seems to find time to volunteer for projects outside of her class projects. She volunteered for the Avon Foundation Breast Cancer Startup Challenge earlier this year. The worldwide challenge was open to university students and offered the opportunity for teams to develop business plans for breast cancer inventions. Tormans team nominated her to serve as CEO.

I am one of those people who goes after every little opportunity I see. I have no experience whatsoever in breast cancer research or that kind of science, pharmacy science, other than chemistry. So I texted a few friends from class whom I had worked with on previous projects and got them together to talk about it. We decided, hey were gonna do this thing. Why not?

The team had a month of crunchtime to prepare for the challenge for which they had to create a 10-page business report and present via phone to executives from the Avon Foundation and National Institutes of Health.

We hunkered down and divided up the tasks, researched and researched and researched. We spent every single moment of free time the last two weeks making final preparations. We were working on it literally up to 2 minutes before the deadline for submission. Once we turned it in and pushed the button to submit, it was such a relief. We felt so accomplished, she said.

Her enthusiasm and positive outlook shined through during the entire interview.

It didnt even matter if we won or placed. It was such a great experience getting to know each other that much better and seeing each other grow along the way and having that contact with our advisers.

Three teams from UA participated in the challenge. All three teams, including Tormans, were the only undergraduate teams in the competition. The other 40-plus teams were composed of graduate students.

It made us see that we are capable of so much more than we think we are sometimes, she said. The entire college experience so far has just been proving that over and over. I look at myself from when I just came in and now what Im doing, and I would not have seen myself doing these things. It definitely surprises me whenever I try something new. Thats why I like trying something new, because you push yourself and get out from behind the wall and experience new things.

If thats not enough, Torman also volunteered for the Target wellness competition. Her team members came up with a business model for Live Healthy, Live Happy, where they created a display at Super Target stores. The in-store display included recipes and the food items for creating healthy meals. Target was impressed with the presentation. The four-member UA team won first place and received $4,000.

When asked about the future and career opportunities Torman is taking a wait-and-see-where-the-road-leads-her mindset, but she did hint at what she finds interesting.

I just read an article about Proctor & Gamble. They have a baby department in the diaper segment of the company where they sit and observe

1 1

and watch little kids walking around in diapers. And I thought what a fun job that would be. And you get to be around kids all day. Maybe something kind of interesting like that.

What advice would Torman offer future UA students trying to decide whether to take the STEM Path to the MBA program?

Definitely do it. It is the most amazing thing. Once you get in, learning is so much fun. Its real-life stuff. You are thinking things through in a different way. It really broadens your perspective. It makes you get outside your box.

Thats one of the things I love most about the STEM program, is being able to build relationships with students. Theyre not just classmates when you graduate. They are going to be other people in industries. You will keep the connections you make. Its unique that you get to stay with the same group of students throughout the program and connect on a deeper level.

Torman had the opportunity to meet Dr. Vijay Govindarajan, nationally known Tuck School of Business professor at Dartmouth College, when he visited University of Alabama STEM students in the fall of 2013.

Govindarajan said of his visit to UA, Of all the keynotes I gave this year, the one I gave to The University of Alabama STEM students is the highlight.

The networking is amazing, Torman said. Where else are you going to get to talk to the world-renowned author of reverse innovation, Dr. Vijay Govindarajan? There are so many amazing opportunities. There are so many opportunities and resources available for you.

Torman said the STEM program is a place to challenge yourself and to meet people who change your life. Students and professors genuinely care about you, your success and your life.

Torman is an inspiration to those around her and the epitome of an ambassador for the STEM Path to the MBA program. It makes one wonder how three simple words can have such a great impact, but they haves definitely made an impact on Tormans life.

I was talking to my dad on the phone and told him I have pretty much figured out the secret to college and success. I stole it from Nike, Just Do It. Youll just be amazed at what comes out of it, she said with a smile.

IT MADE US SEE THAT WE ARE CAPABLE OF SO

MUCH MORE THAN WE THINK WE ARE SOMETIMES.

THE ENTIRE COLLEGE EXPERIENCE SO FAR HAS

JUST BEEN PROVING THAT OVER AND OVER.

Megan Torman,

STEM FACTS The STEM Path to the MBA program focuses on attracting high-achieving undergraduate students majoring in the science, technology, engineering and mathematics disciplines. The program is an innovative approach to engage students early on as undergraduates and employs nontraditional classroom methods that allow top students to complete the MBA in one additional calendar year.

The Culverhouse College of Commerce welcomed its first group of STEM students for the Manderson Graduate School of Business MBA

in 2011. The first class will graduate with MBAs in 2016. As of fall 2014, more than 800 students have enrolled in the STEM Path to the MBA program at The University of Alabama since its inception.

To enroll, STEM path applicants must hold a minimum high school GPA of 3.5 and a minimum ACT score of 28 for early admission to the MBA program. During their junior years, students will apply for admission to the Manderson Graduate School of Business for the MBA program.

Recruiters continue seeking STEM MBA graduates as manufacturing, software engineering, computer science, alternative energy, high-tech steel production, infrastructure replacement, commercial construction, health care and evolving forms of communication create demand for engineers, technicians and scientists from a variety of fields. There is a substantial demand for professionals in these fields who also possess communication, leadership, decision-making and business-analytical skills.

A new initiative at the Culverhouse College of Commerce aims to recruit and reach out to rising high school seniors from diverse backgrounds who are enrolled in magnet and accelerated programs.

The Culverhouse Majors Awareness Program, headed by lecturer Lisa McKinney, is a residential summer institute for exceptional students who are typically underrepresented in the ever-growing Culverhouse College of Commerce. This can include students with disabilities, different ethnic backgrounds or different cultures.

We had been recruiting and conducting outreach for 10 years, but this year we decided to focus our efforts on students with a wide variety of backgrounds, said Dr. J. Michael Hardin, dean of the Culverhouse College of Commerce. We feel like this is what is most important: bringing in talented students with

different backgrounds to increase the diversity of the University and Culverhouse. In future efforts, we will also focus on recruiting military veterans, Hardin added.

The inaugural CMAP camp was held in June and included 30 rising high school seniors from Alabama and Georgia. Some 25 faculty and business professionals presented at the weeklong camp.

We traveled to schools across Alabama and Georgia, seeking the best and brightest diverse students to encourage them to attend this camp so they could learn more about the benefits of obtaining a business degree and specifically a degree from UAs Culverhouse, McKinney said. The camp is an exploratory opportunity to find out what we have to offer so the students can make an informed decision about their future.

CMAP exposes the rising high school seniors not only to Culverhouse

CULVERHOUSE REACHES OUTWITH NEW DIVERSITY INITIATIVE:

MAJORS AWARENESS PROGRAM

BY ED ITH PARTEN


but also to leaders of successful businesses, faculty and the UA campus. The goal of the camp is to provide the students with a better understanding of business and how Culverhouse can help them on their paths to success.

Participants interact with professors and working professionals in a variety of presentations and experiences. Each of the business disciplines accounting, finance, economics, marketing, management, management science and information systems are explored in

interactive formats. Students will also explore such specializations as sales and entrepreneurship.

The camp is not all work. Students enjoy nights of fun and entertainment, including a pool party, scavenger hunt and campus tour.

Students in the initial camp had to apply and must have been seniors in the fall of 2014 with 3.2 GPAs.

Another diversity program that complements CMAP, the Accounting Career Awareness Program, is in its fifth

year and also took place in June. ACAP is a program of the National Association of Black Accountants Center for Advancement of Minority Accountants.

ACAPs primary objective is to increase the number of high school students from underrepresented ethnic groups who attend college and major in accounting. Through ACAPs efforts, students receive educational enrichment experiences and the practical help needed for college preparation and a career in accounting.

WE TRAVELED TO SCHOOLS ACROSS AL ABAMA AND GEORGIA , SEEKING THE BEST AND BRIGHTEST DIVERSE STUDENTS.

Lisa McKinney

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ACAP students enjoy lunch outside Alston Hall.

ofP O W E R F U L W O M E N

P R O F I L E S


They have moved beyond the glass ceiling. From the CEO of Lockheed Martin and one of Forbes top 50 most powerful women in business to an SEC business-school dean and a Wells Fargo executive, Culverhouse is the alma mater to some top-level executives who have broken the glass ceiling.

Although there are dozens of alumnae who have made it to the top of the corporate ladder, the following pages of the Executive Magazine profile seven of some of the most powerful women to have graduated from the Culverhouse College of Commerce.

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Marillyn HewsonCEO and President of Lockheed Martin Corp.


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1. What was your reaction to finding out that you were named by Forbes as one of the worlds most powerful women?

Well, its certainly exciting to be named to that very prestigious list and humbling to be in the company of so many brilliant, successful women. One of the primary reasons Im on the list is because I lead a world-class company. Lockheed Martin is a $45 billion global enterprise thats performing very well for our customers and our stockholders. Thats a credit to the 113,000 talented men and women of Lockheed Martin, who are delivering outstanding work. Im simply a reflection of all of their good work, and Im very proud to represent them.

2. What advice would you give to female business students? My advice for women or, in fact, for anyone who aspires to have a successful business career is dont set limits on yourself. Sometimes its hard to see the growth opportunity in a potential new assignment if its not what you had envisioned, so you may dismiss the assignment before you fully explore it. So my advice is, as you go after what you want in your career, remain open-minded to the opportunities that will push you out of your comfort zone, challenge you and give you a new set of experiences that will strengthen your expertise. Ive found that its often the unexpected opportunities that provide the most valuable experiences.

3. What is the biggest lesson learned, to date, from your career?

The most important lesson Ive learned in my career is that you must always stay grounded in your values. And that means the company you work for should share those values. Strong values are where leadership really begins. One of the many reasons I have loved working at Lockheed Martin all these years is because our values as a company align with my personal values. Theyre very simple: Do whats right, respect others and perform with excellence.

These are the values that guide every one of my decisions. Youll face many turning points and tough decisions throughout your career, and I can tell you from experience that, for the really tough decisions, you have to be standing on a solid foundation of values.

4. Do you feel the way has been paved for women to rise in the leadership ranks of the business world?

Absolutely. Im encouraged to see a growing number of remarkable female leaders take their place in business, as well as politics, the military, academia and every profession. Im especially proud of my industry, which has been opening doors for women for decades. In fact, the aerospace and defense industry was one of the first to hire women into nontraditional professional roles. During World War II, many women went to work hammering, riveting and welding the

ONE OF THE

MOST POWERFUL WOMEN IN BUSINESS

IS CULVERHOUSE ALUMNABY ED ITH PARTEN

O ne of the most powerful women in business today is UA Culverhouse alumna Marillyn Hewson, CEO and president of Lockheed Martin Corp.In 2013 Hewson was making headlines and headway. It was a year that included her being named to the top position at Lockheed Martin and being ranked No. 4 on Fortune magazines list of 50 most powerful women in business. She was also named to Forbes list of the worlds 100 most powerful women. She was also appointed by President Barack Obama to the Presidents Export Council, the principal national advisory committee on international trade.

Hewson received her bachelors degree in business administration and masters degree in economics from UAs Culverhouse College of Commerce. She is also a current member of the Culverhouse College of Commerce Board of Visitors. So when Executive Magazine had the opportunity for a Q&A with Hewson, we took the opportunity to find out more about her career, life and path to the top.

products that would help defend our nation and advance freedom around the world. Such empowerment of women built momentum for the kind of inclusion we have today. Its rewarding to see so many women carrying on the legacy of those women who helped build the modern workplace. Today, women represent more than half of the professional workforce, and the number of women leaders continues to rise. Im proud of how far weve come and confident that theres even more opportunity ahead.

5. Who was your mentor?When I began my career at Lockheed Martin more than 31 years ago, mentoring and talent development played a huge role in getting my career on the right track. When I was a relatively new supervisor, the vice president of operations nominated me for the Lockheed General Management Development Program, which was a very selective program with only four employees of 21,000 applicants accepted.

It required the vice president to do more than just put forward my nomination. He had to commit to having a job for me when I graduated from the program. It was clear that he genuinely wanted me to be successful at Lockheed, and he went out of his way to support me. When I was accepted into the program, he mapped out where I should go and how long I should stay in each rotation to ensure my experiences were diverse and that I would be prepared for my next role. At the end of the two years, he promoted me into my first department manager role and I felt prepared to be successful.

That experience turned out to be one of many turning points in my career. And it was all because a vice president in my company recognized my potential and was willing to get involved.

6. What led to your decision to attend The University of Alabama?

My family lived nearby the school, so I was aware that The University of Alabama had an exceptional business program. It aligned with my academic strengths and career aspirations, and I was working full time in Tuscaloosa to pay for my college education, so it was a natural fit.

7. What is the biggest lesson youlearned from your time at the Culverhouse College of Commerce?I enjoyed my time at the Culverhouse College of Commerce and learned many important lessons that Ive carried with me throughout my career. I couldnt point to just one lesson; however, the diverse and interesting people I met and their willingness to share their knowledge and experiences so openly was a highlight.

8. What is the best piece of advice given to you by a teacher?

There wasnt only one. The faculty was top notch, and they consistently challenged me to remain intellectually curious and to perform my best on every project and assignment. Also, they showed me that great leaders never stop learning.

9. What do you enjoy doing in your spare time?

While my role at Lockheed Martin doesnt leave me with a lot of spare

time, my husband I and do love to play golf, so we try to work that in regularly.

I enjoy traveling with my family. My husband and two sons and I take a family vacation every year. Its an opportunity to spend time together and explore a new part of the world.

10. What would you do differently? Because I feel very fortunate to have

a supportive, loving family and a rewarding and fulfilling career, there isnt anything I would do differently. The breadth of experiences Ive had personally and professionally have allowed me to continuously learn and to grow as a wife, mother and business leader. I believe strongly that if you stay true to your values and surround yourself with others who share those values, you will rarely have regrets.

11. What are the latest books youve read?

I recently enjoyed Malcolm Gladwells David and Goliath. Its all about ordinary people who have taken on huge, oversized challenges, some driven by emotion or passion, others just by circumstance. What you learn from these stories is that the outcome is not always what you might expect, and, sometimes, one persons adversity or suffering can be a catalyst for positive change in the world. I gave copies of it to my entire senior leadership team as a reminder that challenges can be a good thing, and when we work together, we can overcome them.

12. What is your favorite quote?I grew up in a very patriotic family, and I consider myself a patriot. My


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NEW $3.9 BILLION CONTRACT A BOOST FOR LOCKHEED MARTIN FACILITIES IN ALABAMA

Lockheed Martin has been awarded a $3.9 billion contract for THAAD Weapon Systems for the U.S. Army and United Arab Emirates.

Lockheed Martin will provide parts of the Terminal High Altitude Defense Weapons System known as THAAD under the term of a new $3.9 billion contract for the U.S. Army and United Arab Emirates.

The contract includes the manufacture and delivery of up to 110 interceptors that will be used by the Army at Fort Hood, Texas. It also includes interceptors and other hardware for UAE.

The contract is a boost for continuing missile work in Alabama. THAAD interceptors are produced at Lockheed Martins Pike County facility in Troy and the Missile Defense Agencys THAAD program office is in Huntsville.

Excerpt from Al.com article by Leada Gore, Sept. 23, 2013

father worked as a civilian in the Department of the Army, and my mother served in the Womens Army Corps during World War II. They were both drawn by a call to serve our nation, and they instilled that same love of country into me and my brothers and sisters. The work we do at Lockheed Martin in support of our men and women in uniform is my way of serving our nation and ensuring they have the best equipment and technology to protect our peace and freedoms. One of my favorite quotes, which is engraved in the wall at the Korean War Veterans Memorial, says, Freedom Is Not Free.

Its a reminder that we must be grateful for and always remember the sacrifices that our men and women in uniform have made while protecting our personal freedoms.

13. Do you see any future partnership opportunities with the University of Alabama?

Yes, in fact, Lockheed Martin is working in partnership with the University on a new data analytics laboratory.

The lab will focus on using data-driven models to make better decisions in areas such as program management and supply chain management. And most importantly, it will give students a great opportunity to meet with our engineers and develop skills in a technology area that is critical to our future.

Were excited about this partnership opportunity, and I hope that it will help develop the next generation of University of Alabama alumni at Lockheed Martin.


B ehind every highly successful woman is a good business school and, in the case of Nicole Black, also a husband to tend the home fires and the offspring while she achieves in the workplace.

Black, managing director of fixed-income research at Wells Fargo Securities LLC, in Charlotte, North Carolina, has been a master juggler since the day she entered The University of Alabama as a student majoring in engineering. It took about one semester and the encouragement of the Culverhouse College of Commerces legendary Dr. Billy Helms to entice her into the business curriculum. He also offered her a pioneering role in a unique program he had designed. It was a quantitative finance degree, and I was a willing guinea pig, she explained of the mix of corporate finance with graduate-level statistics and math courses.

Her generous scholarship offered time to be a college student, in all senses, so Black (known then as Nikki Black) embraced campus life. In addition to her demanding Culverhouse program, she was president of Alpha Chi Omega sorority, played six intramural sports and served as a teaching assistant in economics for five semesters.

Thanks to Billy Helms, I got to take 300-level economics early, so I was able to be a teaching assistant for five of my eight semesters at Alabama, starting

as a sophomore. There werent many undergraduate teaching assistants.

In her spare time, Black provided play-by-play radio commentary for the UA womens basketball team.

I had a very robust four years on campus, she said.

The National Merit scholar from Decatur, Alabama, was also a member of the Computer-Based Honors Program. At graduation, the Universitys National Alumni Association named her the Outstanding Female Graduate of the 1995 class. She also received the Amanda Taylor Watson Outstanding Quantitative Finance Student Award from the department of economics, finance and legal studies. Black proudly cited her MBA from Harvard, which followed several years later, as yet another academic achievement. Im

proud of that, she said. You cant just mail that one in.

Looking back, one of the traits Black cited as a guiding force in addition to her firm academic foundation in the Culverhouse program is self-confidence. That said, after graduation and all its accolades, she recalled having no idea which direction to turn. Despite a 98th percentile score on the GMAT, she knew she needed a job preferably two to three years of solid experience before she could apply to an advanced business program.

I did what every other student does: I dropped off my rsum at the Career Development Center and had a very successful interview with a bank I wasnt familiar with, she said. But in First Union Banks materials, Black noticed a small paragraph about its investment program. They needed a blend of quantitative and communication skills, she recalled. Within a week, I was on a plane to Charlotte, where I made the cut in their investment-banking-analyst program.

It was the beginning. After two years in Charlotte, Black went to Harvard Business School, then on to New York City.

I had my heart set on trying sports marketing, so I worked at the NBA, which was a dream job on paper. She found her brain underused and that she sorely missed finance. A move to Bear Stearns in equity research did not help.

WALL STREET MOM TRADES ROLES AT HOMEBY C AROLANNE ROBERTS

I HAVE ATTENDED T W O INSTITUTIONS, AL ABAMA AND HARVARD, AND I GIVE MONEY

EACH YEAR ONLY TO BAMA BECAUSE OF THE FOUNDATION

AND THE FINANCIAL ASSISTANCE I RECEIVED

THERE. N i c o l e B l a c k


The fact was, she hated New York. Im not a New Yorker, but Im glad I tried it, she said. If I hadnt moved there, I always wouldve wondered.

Her time back in Charlotte, where she continued her path, has been a journey within a journey. In 2004, she joined Banc of America Securities investment-banking division, shifting from writing reports about stocks to reports about bonds. Then Black returned to First Union Capital Markets, which had become Wachovia by that time; in 2008, Wachovia was acquired by Wells Fargo. Now, as she marches up the corporate ladder, the analyst travels about a third of the year. When she is home, her days start with a 7:15 a.m. meeting before moving onto the trading floor.

Im on the floor; the activity is constant; and no two days are alike, which I love, Black said. But I joke that I live only two songs from work. I could never do a commute.

Her husband, Drew Skinner, keeps the home humming for their sons, Baylor, 5, and Beckett, 3. Black describes her husband an Indiana native who proposed to her on the 20-yard line of Bryant Denny Stadium after a Bama win as a low-ego male displaced from his advertising job in the 2008 economic downturn.

I went back to work from maternity leave, and we didnt bat an eyelash, she said. The game plan was that hed stay home until the ad market came back, but when we found out we were pregnant again in 2010, he had already gotten quite good at the baby-rearing duties. So we evolved into this arrangement; it was not our expected path, but here we are.

So the boys go to bed a little later than their peers so they can visit with their mom when she gets home. Dad takes them to play dates and does the preschool drop-off. In this day and age, I dont even wait until the end of the day to be part of whats going on, she said. I get photos of lessons at school, a text message after pickup, and maybe an email or a video of the kids playing. I know theres a loving parent with our children, which helps me concentrate on my job until Im home with them. And Drew says that even his worst day with the kids is better than the mediocre days when he was in the workforce.

The family plans a trip to Tuscaloosa in the coming months to introduce Baylor to the Bama football tradition. Although Blacks career will no doubt keep her in Charlotte, her memories and allegiance trace to the University. Dr. Cathy

Randalls influence is still very much alive. Randall served as the director of the Computer-Based Honors Program at The University of Alabama and earned a bachelors, two masters and two doctoral degrees from the University.

She held many positions at the University, all the while raising three really outstanding people, Black said, adding that she will forever be grateful to Helms for his influence and to Dr. Lonnie Strickland, professor of strategic management, who demonstrated that you can be hard-nosed and intelligent but still have fun.

The years in the Culverhouse College of Commerce remain strong building blocks in Blacks success. I have no regrets about my decision to come to Alabama, she said.

I have attended two institutions, Alabama and Harvard, and I give money each year only to Bama because of the foundation and the financial assistance I received there.

Carolanne Roberts is a freelance writer based in Birmingham, Alabama, and is a former travel editor of Southern Living magazine.

Nicole BlackManaging Director of Fixed-Income Research

Wells Fargo Securities LLC

C athy Leonhardts conversation is warm, confident and infused with moments of joyous laughter. The 1990 Culverhouse finance graduate has plenty on her plate: traveling to the West Coast and Europe for retail mergers and acquisitions; co-heading Peter J. Solomon Co.s Global Retail Group in New York; and, even more importantly, enjoying a rich family life that includes two young daughters. Yet she is easy, engaged, even relaxed as she reminisces about her days at the Culverhouse College of Commerce.

It ended up being a really good place for me, she said of her choice to study in the Culverhouse program. When I went into my career, I wasnt playing catch-up. I had good skills. You go to these big firms, and they put you through a training program and it was easy. I was very well-prepared. The business school really gave me the foundation to do good work right out of the gate.

The first stop out of that gate was Wachovia Banks corporate training program in Winston-Salem, North Carolina, and a subsequent move to Atlanta to join Wachovias large corporate-lending group. From there she went to the Kellogg School of Management at Northwestern University for an MBA and on to Morgan Stanley in New York. I liked banking, but I wanted something more rigorous, she said. Morgan Stanley

was the No. 1 mergers and acquisitions bank in the world, so I joined that group for seven years and M and A became my career.

She started as a generalist working on transactions in oil and gas, paper and forest products, pharmaceuticals, retail and apparel but one area stood out. I really liked the retail sector, she said. Then,

when I represented Sears in acquiring Lands End, Peter J. Solomon and his team were representing Lands End. That transaction resulted in yet another merger: Leonhardt and the Peter J. Solomon Co. With its large focus on retail, the move has proved a perfect fit for Leonhardt these past 10 years. In addition to being a partner and managing director, she co-heads the firms retail group.

Her rsum in the retail space reads like a whos who of brands meeting

brands. The career score card at Peter J. Solomon includes TA Associates acquisition of Dutch, which is the holding company of contemporary brands Joie and Equipment; several transactions for French luxury conglomerate Kering; PVHs acquisitions of Tommy Hilfiger and Warnaco; Deckers, the parent company of UGG, in its acquisition of Sanuk; the sale of Athleta to The Gap; and the sale of Kate Spade to Liz Claiborne Inc. Leonhardt appears in the media, particularly in Bloomberg TV interviews, on subjects ranging from Internet shopping to fashion business trends. The sector suits her.

I love M and A, the tactics and the strategic aspect of thinking through strategic situations, Leonhardt said. I love positioning companies for sale, finding the highlights to get the deal done, what to bring out when youre selling a business and when youre buying a business, and thinking through how this is going to be a winner. I do a lot of retail apparel, footwear and accessories work. To be successful in this business you have to have a sector focus. You have to know everybody; you have to own it.

This specialty direction had not come into focus during the days at The University of Alabama, but the coed from Nauvoo, Alabama, in Walker County knew she wanted both a career and success. On campus, she was a member of the Capstone

CULVERHOUSE ALUMNA FINDS HER PASSION INMERGERS AND ACQUISITIONS

BY CAROLANNE ROBERTS

I THINK W OMEN, ESPECIALLY NO W, MUST BE AGGRESSIVE IN THEIR CAREER SEARCH.

YOU HAVE TO SEEK OUT OPPORTUNITIES THAT ARENT

SO OBVIOUS. C a t h y L e o n h a rd t


2 3


Honors Program, directed at the time by Dr. John Conroy and Culverhouses Dr. Dave Heggem. As a member of the prestigious Avanti Team, Leonhardt welcomed new students to campus in orientation programs while also serving as counselor for the summer Capstone Honors Programs.

I was heavily involved with Avanti; it was a tremendous experience, she said. It captured you and made you love the University.

All the while, her future prospects were growing and expanding in the business school. For such a large university, you could develop personal relationships and ask questions in this program, getting assistance as you navigated both your academic curriculum and what to do after that. It was Dr. Robert Brooks who helped guide Leonhardt forward. Beyond taking such advanced courses as Brooks options, futures and derivative securities class, Leonhardt gained advice and direction.

He brought a real-world perspective to the academic experience because he was on boards, advising banks and doing other things. He became an important professional in what ultimately happened in my career.

Leonhardt graduated summa cum laude. Brooks named her Finance Student of the Year, an award I was really proud of, but I think my parents were even prouder.

Tuscaloosa remains important to Leonhardt, who will return soon to the fall meeting of the Culverhouse College of Commerce Board of Visitors as a member. It is also the city where, 10 years ago, Leonhardt married Michael Urness, a native of Seattle and a Kellogg business-school classmate. She and Urness, a brand manager with his own Connecticut-based consulting business, are parents to Carson, 7, and Jemma, 4.

How does Leonhardt strike the balance between family and career?

Someone once told me, If you want something important done, ask a working mother. They do the most and have the capacity to do the most, Leonhardt said. We live pretty full lives. We have a big community with our daughters and their school and our church. We ski; we exercise; we travel to our place on the Gulf Coast as often as we can. We definitely spend time in Alabama at the holidays, and my husband is now a Bama fan.

Leonhardt offers advice based on principles she has learned along the way.

I think women, especially now, must be aggressive in their career search. You have to seek out opportunities that arent so obvious. And you have to focus on being personable. You can be proficient and analytical and all the other things that your job requires to fulfill the obligations, but at the end of the day, people like working with people they like. You have to be personable and likable and influential.

Perhaps this explains that gentle laugh, which comes at just the right times, accompanying her authoritative commentary. Which brings Leonhardt to another word of praise for her alma mater.

I have gratitude for my experience in the business program, the education and the foundation Alabama gave me, she said. You can do a lot from that platform.

We would say she already has.


Cathy Leonhardt Managing Director and Co-Head

Peter J. Solomon Co.s Global Retail Group


C ynthia N. Days multitasking aptitudes were evident in the 1980s when she was a Culverhouse College of Commerce student majoring in accounting. She balanced her classes, sorority commitments and work-study schedules as adroitly as she balanced a baton during halftime performances with the Million Dollar Band.

Now this president and CEO of Atlanta-based Citizens Bancshares Corp. and Citizens Trust Bank balances more complex responsibilities. Day is a wife and mother serving on the boards of Primerica Inc. and Aarons Inc. She is a board member for the National Bankers Association and the Atlanta Business League. She is a member of both the Georgia Society of CPAs and the Rotary Club of Atlanta.

In each role, Day is praised for the same cheerful excellence that won her applause while twirling in front of more than 70,000 Bryant-Denny fans.

We are thrilled to have Cynthia join our board, said D. Richard Williams, chairman of the board and co-CEO of Primerica. As a result of her many years with Citizens Bancshares, she understands the needs of middle-income households and the financial challenges faced by these families. Primerica is focused on helping these households

succeed, and Cynthias experience and expertise will be invaluable to us as we fulfill that mission.

When somebody asks about the keys to success, I tell them its nothing glamorous, Day said. Theres not a secret formula. Success is just about hard work, consistency and always doing your best because somebody is always watching. A lot of people will tell you

that getting a mentor is a key to success. And thats OK. I have mentors, even to this day. But setting and maintaining a standard of excellence is what really opens doors.

"Consistency is compelling, Day said. Excellence opens doors. Successful people focus on skill mastery rather than vocational shortcuts."

I tell people just do the best at the job youre in. Focus your attention there. Its good to have goals to move forward,

but first you must be good where you are.

Day also encourages students to focus on their own gifts rather than whatever is temporarily trending, the pursuit of what she calls the major flavor of the day. She equates career balance to someone consistently traveling in one direction rather than being sidetracked by offramps.

I think were most successful when were operating in our own lanes, where we can be most successful. I tell others to find where your strengths and talents lie and play to those. Play to your passions. Youll be very successful because youre in the right lane.

Balance and commitmentUpon entering the University as a pre-medical student, Day did not imagine finding her career path in the financial services industry. Third of six siblings, she realized as a sophomore that she needed to finish college in four years. Since medicine would require another eight years, she reconsidered her major and redirected her analytical skills to accounting. Her senior year interview with KPMG snagged her first postgraduation job. It also turned out to be her last job interview. One employment lane seemed to

THE ART OF BAL ANCE: 1987 CULVERHOUSE ALUMNA CYNTHIA DAY

SHARES HER KEYS TO SUCCESS BY J EAN M . MCLEAN

ITS GOOD TO HAVE GOALS TO MOVE FOR WARD, BUT FIRST YOU MUST BE GOOD WHERE

YOU ARE. C y n t h i a N . D a y

merge smoothly into another. Again, her pursuit of excellence was the catalyst that would ignite a future of smooth transitions.

Mastering her skills as a CPA and hard work at KPMG led Day to a position as an audit manager. One of her clients was Citizens Federal Savings Bank of Birmingham. Impressed by her skills, the banks CEO offered Day an opportunity to join the firm. Day accepted the offer, motivated to move that company to a level where I knew it could perform. She later became the executive vice president and chief operating officer.

The balance she achieved led to her appointment as executive vice president and chief operating officer. She would retain the title when the institution was acquired by Georgias Citizens Trust Bank in 2003.

Nine years and an Atlanta relocation later, Day became the first permanent female president and CEO in Citizens Trusts 90-year history. That accomplishment led to others asking how to maintain a balance among work, life and philanthropy.

The success and balance of work-life responsibilities require the same focus as developing and sustaining a strong work ethic, she said. Im just like every other mom and every other wife who is challenged every day with balancing career and personal obligations. Building and sustaining great relationships with my husband, my daughter and family are extreme priorities. I achieve balance by not only recognizing but also demonstrating that my personal relationships remain paramount and are among my most important responsibilities.

Balance and communityCommitted to sharing her experience and expertise with youth and future e n t r e p r e n e u r s , Day is a seasoned parent-volunteer. She also serves The University of Alabama as a member of the Alabama Entrepreneurship Institute Board. In both roles, her mentorship and dedication to sharing her business and life experiences produce a steady stream of requests for career and business advice. She is an enthusiastic supporter of AEI because she believes in nurturing small businesses.

Thats the lifeblood of the community bank and the fabric of our country, said Day of the small-business-community link. She wants to help AEI participants understand how they can get working capital not only to create a company but also grow it to benefit the surrounding community.

There is another reason Day is involved with the Culverhouse-sponsored AEI program. She wants to give back to the University. She is proud to be a Culverhouse alumna.

Alabamas business school is one of the best business schools in the country. It prepared me for my job and the start of my career. They cant teach you everything in four years, but it gave me a great foundation. I was prepared when I came out of college. The rest was on me.

Those who meet this Atlanta executive often assume her expertise evolved from Ivy League-level preparation. She is quick to correct them, explaining what she learned in the classroom as well as on the practice field.

Balance and learningDay intentionally teaches the glass-half-full perspective: With a positive,

Cynthia Day President and CEO,

Citizens Bancshares Corp., Citizens Trust Bank



can-do attitude you can do a lot of things. A negative attitude doesnt produce long-term results.

She said such optimism for women including her daughter is justified, as corporate climates are changing.

Although Day believes family-friendly balance will always be a challenge, she sees tremendous strides across all industries.

I work with accounting firms and law firms, which have traditionally been very conservative. But even they are becoming extremely flexible because they dont want to lose talent. One of the firms we work with has done a womens power project, hiring coaches for women to see how they can transition to the next level and still have a balanced life.

Day believes corporations are also seeking different gender and ethic perspectives on their boards.

"Companies seeking better balance in both their workforce and in their advisory boards can better meet competitive challenges,"she said.

As she reflected on her 1988 graduation from the University, she remembered not only what she learned in

the classroom but also what she learned from her entire college experience: juggling work, studies, sorority and those Crimsonette practice sessions.

Im extremely proud to be a graduate of The University of Alabama and Culverhouse. Crimson forever runs through my veins. My educational and life experiences gained while attending the University helped build a strong foundation for a successful life and career.

That taught me how to do things now, she said. Being academically off the charts is great, but what happens when you have to balance life? I always tell people that you want to be able to do a lot of different things. Youve got to have not only the intellect but the people skills when youre running a company.

Youve got to learn to balance.

Jean McLean is a freelance writer based in Montevallo, Alabama.

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A s Karen Russell Miller outlined the professional journey that led to her becoming a tax partner at the Birmingham, Alabama, office of PricewaterhouseCoopers LLC, she frequently used the word blessed. That is because this 1996 Culverhouse graduate is grateful not only for the insights provided by her father, who majored in accounting, but also for all the other role models who provided career guidance along the way.

I was always one that loved numbers, Miller said of her early interests. Math was my favorite high school subject. My father had gotten his accounting degree from Alabama in 1970. Although he never practiced in public accounting, I knew how versatile an accounting degree was and how it had helped his career.

Once I arrived at the University, I was blessed with a lot of faculty members who gave me advice and taught courses that confirmed my interest.

Miller credited her senior-year internship as a turning point. That was when she was able to sample real life during busy season of tax preparation in a public accounting firm and to narrow her professional focus to tax practice.

I was blessed in that when I came through, ours was only the second accounting class to be eligible for the spring internship program. Before then, the accounting students didnt have

an opportunity to intern during busy season. I know it took a lot of time by Dr. Tom Howard and Sandy Davidson to put that program together. It has provided an excellent foundation for all the students who came in after me.

Millers internship attention was soon riveted on corporate tax, especially as it related to insurance and financial services firms. Such a specialty not only provided the highly analytical work she enjoyed but also allowed her to offer what she calls value-added assistance to clients. After graduate work at the

University of Virginia, she pursued her current specialization: providing tax planning and compliance services to property, casualty and life insurance companies and other entities connected to the insurance industry. Her work includes evaluating federal consolidated tax return issues and conducting due diligence reviews for large insurance company acquisitions.

Miller advises corporate leaders on complicated tax matters, and she

also makes time to advise young professionals, both those inside and outside her firm, on what they should know if they want to pursue an accounting career.

As I look back over the years, between starting at PwC and making partner in 2011, the highlights for me are the interactions Ive had with leaders, particularly the strong female mentors and role models Ive had, said Miller, who also serves with Culverhouse Connections, a mentoring program that started as a womens mentoring initiative at the College.

Those mentors helped keep me focused and encouraged along the way. They advised me on how to balance family and work. Ive had a number of people Ive interacted with who provided encouragement.

Such encouragement was particularly welcomed in 2006. That was the year Millers son was born. It was also the year she was accepted into PwCs partner-candidate program. The program included an extended rotation in New York City. For several months, Miller and her husband coordinated her weekly commute between Birmingham and PwCs New York office.

"During that time, I affirmed the importance of family and found ways to be flexible and creative with schedules.

Miller brings that flexibility and creativity to the table as a member of

CULVERHOUSE GRADUATE CREDITS UA INTERNSHIP AS TURNING POINT IN HER CAREER

BY J EAN M . MCLEAN

LOOK FOR THOSE OPPORTUNITIES TO NET W ORK

AND LOOK FOR THOSE MENTORING REL ATIONSHIPS.

K a re n Ru s s e l l M i l l e r

the Culverhouse College of Commerces Board of Visitors, in which she provides her corporate perspective on how to prepare a new generation of leaders for todays business climate. In her interactions with Culverhouse students, PwC interns and current employees, she emphasizes how her industry is evolving to meet the needs of a new generation.

The former up-and-out accounting workplace demands that propelled many talented workers out of public practice are changing, she said.

My advice to new graduates coming out of the accounting program is to keep your mind open and to not shut the door too early. The best thing thats happened in the accounting



Karen R. Miller Tax Partner

PricewaterhouseCoopers LLC

profession is weve opened the dialogue. Weve realized the value of flexible work arrangements and sabbaticals, so we can retain the top talent in our field.

Too many young female accountants came to believe they could not combine a satisfying personal life with a challenging career, Miller said. That is why she encourages students to think ahead as they pursue internships, advanced degrees and first jobs.

Female accountants now have more advocates than before. One of the blessings of my position right now is that Im heavily involved in a lot of womens initiatives through PwC. Its encouraging to see that.

Since the largest national public accounting firms known in the industry as the Big Four compete for top talent, they also tend to set the benefits bar for regional and local employers. Those leading companies are now more attuned to female employees concerns, Miller said.

As she talks with young professionals about their career paths and life goals, she also urges each individual to think ahead, evaluating not only which specialty paths to take but also which firms are most likely to make those paths more accessible.

A lot of my friends in accounting had children at about the same time. One thing they said they wished they had done was to think ahead. When they started work, they were focused on the best opportunity for them at that time, but they didnt think about what their lives would be like in three to five years. For example, a lot of them wound up in situations where they didnt have good maternity benefits. When they accepted their first jobs, they didnt stop to think, Where do I want to be five years from now?

As public accounting firms initiate policies aimed at retaining female talent, the benefits of those policies extend far beyond their targeted market.

Across the industry, what youre seeing is a willingness to allow not only variances in the 9-to-5 schedules for both males and females but to dial back with yearlong sabbaticals and a lot of part-time arrangements that allow people to work during busy season and then take summers off to be with their children. I think those arrangements are taking a number of forms. Some are tailoring their schedules to allow care for their elderly parents. That sort of thinking ahead on the part of the firms to keep

their best and brightest employees is changing the accounting profession for the better, Miller said.

As leaders like Miller think ahead to better the industry, she suggested that Culverhouse students, pursue every opportunity the College provides.

Look for those opportunities to network and look for those mentoring relationships, Miller tells business students within every interest area. Start early in your College career to look for someone who can teach you the business skills and answer the questions you dont yet know to ask. Find someone who can be both a sounding board and someone who can offer constructive feedback.

Miller said she was blessed by others willing to share their perspective from her professors to her PwC mentors. Now this executive is sharing that same blessing, offering her partnering perspective to the next generation of business leaders at Culverhouse.


CULVERHOUSE ALUMNA FINDS HER PASSION AT MERCEDES-BENZ

BY J EAN M . MCLEAN

A lthough Tonja Cochran has witnessed dramatic industry changes since she earned her degree in 1996 from The University of Alabamas Manderson Graduate School of Business at the Culverhouse College of Commerce, she believes basic business principles have not changed.

"Todays managers are still seeking the same character qualities in millennials that served previous generations so well, said this vice president of purchasing and logistics for Mercedes-Benz U.S. International.

When asked for career advice, Cochran listed respect, integrity and hard work as keys for opening opportunities at every level.

Partnering for successCochrans latest opportunity focuses on managing a team responsible for an expanding automotive manufacturing supply chain. That team ensures each MBUSI vehicle part is where it needs to be when it needs to be there, from supplier to warehouse, assembly to delivery. The team plays a role in the production of each of the M-Class, R-Class and GL-Class sport utility vehicles MBUSI ships from Vance, Alabama, to more than 136 countries.

The teams responsibilities are growing. MBUSI begins building the C-Class this year, while preparing to add its fifth model in 2015.

Cochran is equally proud of the people she works and the products they make. Although she and her team have become quite skilled at doing whatever

it takes to keep the parts flowing, this is not the sort of job she imagined during her MBA studies.

I had gotten my undergraduate degree in accounting from Evangel University in Springfield, Missouri, and worked for about five years. But I wasnt totally where I wanted to be, said this Tuscaloosa native about the beginnings of an unexpected career path.

By the time I went back to school, I was a little bit older. I think that helped me explore my options a bit. And since the MBA itself is very diverse, for me it offered a more balanced approach. I took courses in production operations, business law, human resources and, of course, finance and accounting.

Cochrans MBA concentration was in finance. That study, combined with her accounting background, led her to assume her subsequent specialty would involve corporate mergers and acquisitions.

But Mercedes-Benz offered me a job in logistics, and I chose to go this route because the job and this company seemed more exciting. After my first years in logistics, I was able to take advantage of the opportunity to do job rotations within the company.

Pursuing the career cross-training circuitCochran then pursued MBUSIs cross-training process, working in various roles with varied teams. In retrospect, her MBA studies paved the way for developing those assorted skill sets.

I think that diverse course of study prepared me for coming into a company like Mercedes, a company that offers so many opportunities to build your portfolio of skills.

Cochrans specialized training in Vance included logistics and supply chain management as well as finance and corporate controlling. She then moved into one of her favorite job assignments: leading a production floor project team that used time studies and improvement trials to reduce waste and cost on a station-by-station basis. She spent 18 months as a logistics manager before being promoted to senior manager of supply chain management. Her teams responsibilities were complex but included supply chain optimization for current and future products, critical supplier management, a parts consolidation center and foreign trade zone operations.

Then I took a two-year assignment with our truck division in the Carolinas, leading a team responsible for freight planning and procurement for all Daimler entities in the NAFTA region. We purchased the freight services used to bring parts from suppliers to the production plant and to deliver finished products from the plant to the customer.

After establishing that first North American Free Trade Agreement region function for Daimlers cars, trucks, vans and buses, she was asked to return to Vance. In December 2013, she assumed new duties as a vice president.


Preparing for jobs that do not exist yetSince Culverhouse faculty work closely with leaders in tech-driven corporations like MBUSI, they know workforce needs may change dramatically during any students course of study. With new specializations seeming to emerge as regularly as smartphone applications, UA professors often tell students that they are preparing them for jobs that do not exist yet.

Cochrans career illustrates that truth. Much of what she now does was unimagined in 1996. Although the industry has changed since she joined MBUSI, her commitments to the company, its products, its people and her own sense of mission have not. This accountant-turned-vice-president still loves her daily duties and finds purpose in every task.

I love the products that we build. Im very proud of them. I can see how what we do in logistics makes that product possible. But I cant overemphasize the importance of teamwork, and the importance of respecting coworkers, because nobody succeeds on their own. I admire the people that I work with here. Its very much a family culture. Ive learned so much from my teammates over the years.

Learning is one of Cochrans passions. She counsels students to pursue excellence while still in school, as that sets a tone for lifelong learning.

I think its just important that you always try to keep learning and growing and never really get settled in. Theres always another opportunity out there. Theres always something to strive for. If you dont like where you are, focus on changing that. Theres opportunity for those willing to take it.

Planning for opportunityThose who spend much time around Cochran soon realize her motivation runs deeper than pursuit of knowledge or career advancement.

I am a Christian. My faith in Jesus Christ guides my life, and I feel very strongly that he has a plan for my life and leads me through these opportunities and through my career. So I feel that as I do my part, he opens up doors for me. Thats who I am and what I believe.

That faith base not only defines Cochrans approach to opportunity but also provides a foundation for complex problem-solving and decision-making. She said certain timeless values persist, even during uncertain times.

Theres a lot that has changed in the marketplace and the workforce, she said. But theres still no substitute for hard work, determination and willingness to go the extra mile and take ownership of your work. That kind of person is always going to stand out. And if you can make yourself stand out in that way, opportunities generally come to you.

Undergraduates undecided about their career tracks might be encouraged by Cochrans vocational route. Although she worked hard as a student, she wasnt always sure about her post-graduation plans. Still, she earned what she calls a solid degree that opened doors. Then she pursued every resulting opportunity.

Cochran declines to make predictions about advances in manufacturing or of any trends related to future careers.

I do think that as technology, new generations, new ideas and creativity change the workplace, the core values of respect for others, integrity and hard work remain timeless.

Tonja Cochran Vice President of Purchasing and Logistics

Mercedes-Benz U.S. International

Of the many reasons a candidate aims for a doctorate in the Manderson Graduate School of Business, Sharon Oswalds motivation must be a stand-alone first.

My brother had one, said Oswald, who received her management degree in 1988. If he could do it, I could do it. Its competition within a family with a sibling Im extremely close to. We laugh about it.

She laughed, but she also worked hard, balancing the doctoral demands with a full-time job in hospital health care.

Im lucky that the business school allowed me to do that, Oswald said, recalling the regimen in which she got little sleep. Armed with a bachelors in journalism from Auburn University and a masters in business administration from The University of Alabama at Birmingham, Oswald acknowledged that she did have a career path in mind.

The plan was that Id stay in health care then go on to consulting, she said. Done deal.

But doesnt life often talk back? In the course of her doctoral work, the candidate from Cleveland, Ohio, learned an important lesson beyond

books and dissertations. She found her true role in life: not health care, not the traditional business world, but another path altogether.

I had no aspirations to teach before my time at Alabama, though Id taught courses at Samford University and at Birmingham Southern College and I kind of liked the experience, she said. Then came a semester of leading a human resources honors class at The University of Alabama at the behest of Dr. Chuck Odewahn, a human resources professor and big Oswald supporter. I had the best possible class I could ever have, and, after that, I was hooked on academia.

There has been little time in the ensuing years to look back. She has been publishing research (more than 70 scholarly articles and one book), teaching (24 years at Auburn University), rising in the ranks (department head at AU) and repeatedly traveling to the Czech Republic to speak on the health care reform. In 2011, Oswald ascended to her current role as dean of the College of Business at Mississippi State University.

Once I decided my direction during my years in the Manderson program, I

realized this path was really great, she said. Its the most rewarding thing Ive ever done in my life.

Her dissertation focused on gender biases and arbitration.

That has nothing to do with anything I do today or have done for years, Oswald said. But it does bring to mind the changing roles of women in business, which the doctoral work addressed.

What I found was that women are much, much tougher on other women. When I started in academia, it was a good old boys network, and Ive watched it change over the years. I felt I had to prove myself back then and decided to go for tenure. I wanted it more than anybody else. I worked harder and set goals for myself. When I became a department head, there were no female department heads. Im excited because this year several of the women I mentored have become full professors.

Oswald shares her secrets with young women: Dont take yourself too seriously, and be true to who you are. Always readily available for student conversations, Oswald tailors those sentiments to the individual women she inspires. The avid walker and

THE DEAN MEANSBUSINESS

DR. SHARON OSWALD, DEAN OF THE COLLEGE OF BUSINESS AT MISSISSIPPI STATE UNIVERSITY,

EARNED A DOCTORATE IN MANAGEMENT AT ALABAMA AND CHANGED HER LIFES PATH

BY C AROLANNE ROBERTS


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enthusiastic traveler shows her followers that lifestyle can mix with career. Her secret weapon: making full use of every moment.

The busier I am, the happier I am, she said. When I was in school, the more hours I took, the better I was.

As dean of a program with 2,600 students, she is busy and happy.

We have a lot of student entrepreneurs in our business school, she said. Students run from 30 to 50 businesses here with the faculty working along with them. We are so big into entrepreneurship and helping students start businesses while theyre young.

The MSU program also includes the Center of Family Enterprise Research, which studies the strategic management of family businesses and all aspects relating to success and failure of those enterprises.

All this from a person who might never have entered the academic world except for the self-discovery the Manderson doctoral program offered. An Auburn undergraduate earning an advanced degree at Alabama, no less.

Im not really into football, Oswald said, thereby dismissing rivalries. I really related to my time at Alabama; I loved my time there. I know there were faculty who preferred traditional students rather than students who are also working full time, but the University gave me the chance.

Getting the chance can be a deal breaker. Nobody realizes that better than Oswald, the determined dean one state to the west who is out to make a difference for business students. Just as the Manderson program made the difference for her.


SHARON OSWALD Dean of the College of Business

Mississippi State University

QUOTES FOR THE ROADSometimes the advice you hear sticks and you heed it. Sharon Oswald recalls the following bits of wisdom that guided her along the way:

Sometimes people, like plants, need to be repotted.A former dean and mentor of mine helped me with the decision to leave Auburn for Mississippi State. And its so true that we sometimes need to make a change, Oswald said.

I thought I taught you better, not to be in your office at 4 p.m. on a Friday.

I love this one. Chuck Odewahn (from The University of Alabama) and his wife, Toppy Ezell (former Culverhouse College of Commerce marketing professor) stopped by my office and didnt tell me they were coming, she said. And I was working at 4 oclock on a Friday afternoon. Theres a message.

To make one persons life a little better, this is to succeed. From Henry David Thoreau, this is probably my favorite quote, Oswald said. Through what Ive done, I hope Ive made others lives better.


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The key to long-term survival for many businesses is having a woman in charge, according to Cornell University researchers.

Many businesses survive longer under female ownership, according to research by Michele Williams, assistant professor of organizational behavior in the ILR School, and Arturs Kalnins, associate professor of strategy at the School of Hotel Administration.

We find that female-owned businesses consisten

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