New York Times Finds
Wisconsin Grads in the Corner Office

November 28, 2005

A recent article in The New York Times found fewer CEOs with Ivy League degrees than in the past.

According to the story, in 1980 about 23 percent of chief executives had attended an Ivy League college. Today, among CEOs in the Standard & Poor’s 500, that share has fallen to 10 percent. The article cited research by Spencer Stuart, an executive search firm, that the University of Wisconsin is tied with Harvard as the most common alma mater for top executives.

The reason for the switch, according to executives interviewed in the article, is an increasing need for a diverse leadership with skills in communication, real-world smarts and a common touch.

David R. Whitwam, Whirlpool’s former chief who earned his undergraduate degree in economics from UW-Madison, was one of the executives quoted in the story. "I think of the people at Whirlpool who failed over the years, and it rarely had to do with their technical skills," he said. "It’s usually their leadership capabilities."

Similar comments came from Robert A. Eckert, chief executive of Mattel and an emeritus member of the Dean’s Advisory Board of the UW-Madison School of Business: "When you look at today's C.E.O., he or she has to be very comfortable talking about the business with folks on the factory floor or customers who are increasingly diverse."

Thomas J. Neff, chairman of U.S. operations for Spencer Stuart, said he couldn’t remember the last time a client doing an executive search asked for graduates of a particular college. According to Neff, when it comes to senior-level appointments, it’s "What have you done for me lately?"