The Fortune 500, which ranks companies by total revenue, boasts chief executives who studied at business schools like Harvard, Chicago Booth and Wharton, based on data from 2014. Apple, AT&T and General Motors are all led by MBAs.
For business schools, alumni are key to promoting their postgraduate programs. Alumni provide an indication of what students can eventually achieve in their careers.
An MBA is seen as a route to senior management positions. As JD Clarke, an executive director of recruitment and admissions at Ivey Business School, says: “We view the MBA program as a transformational experience for ambitious leaders who want to… Accelerate their career success.”
The appointment of INSEAD MBA Tidjane Thiam to Swiss investment bank Credit Suisse last month was another win for global business schools. American schools dominate the ranks of MBA chief executives.
The fluctuating fortunes of companies means the percentage of CEOs at the helm of Fortune 500 firms, and other rankings based on market capitalization, will shift. But a core group of schools have accelerated the careers of the chiefs at companies including Walmart, Chevron and JPMorgan.
Apple
The death of Steve Jobs created a void that was difficult to fill. But the world’s most valuable company installed an MBA from the one of the world’s top business schools to take over from the creative genius. Tim Cook received his diploma from Duke’s Fuqua School of Business in 1998. He took the helm at Apple in 2011.
Since then the MBA has steered the tech group on a record-smashing journey. Apple in January reported the largest net income of any public company in history in the three months to December – producing a tasty $18 billion in profit. Apple’s latest innovations include the Watch, while the company is widely reported to be developing an electric car in a push into the automotive market.
Chevron Corporation
John S Watson has presided over a tumultuous time at the US energy major as the price of Crude oil plunged by about 50% in recent months. The oil group expects to see a slowdown in its production growth as it cuts investment in response.
He graduated from the MBA at Chicago Booth in 1980. He joined Chevron in 1996 and rose to the chief executive’s role in 2010. Previously he served as vice chairman of the board from 2009 to 2010 and was responsible for business development, mergers and acquisitions and strategic planning, among other areas.
He will need all of his MBA skillset as the oil market buckles in for a bumpy ride. A wave of corporate takeovers are slated to potentially reshape the sector, as oil majors struggle to adapt to the new normal of low prices.
General Motors
The first female chief executive of the world’s third largest automaker by sales, Mary Barra is a great case study for business schools’ efforts to promote corporate diversity. She has risen through the ranks at the US-based company after joining in 1980 as a university co-op student. An MBA at Stanford GSB in California allowed her to move into a senior position within GM’s operations engineering services upon graduation, in 1990.
Mary took the reins of GM, known for its Cadillac and Chevrolet brands, last year. The General Motors chief has presided over the tail end of a remarkable turnaround at the American carmaker, following its government-managed bankruptcy in 2009. She has sought to invest in developing luxury lines, and made an ambitious push into the electric vehicles market at this year’s Detroit auto show.
JPMorgan Chase
JPMorgan Chase CEO Jamie Dimon earned an MBA at Harvard Business School within the same class as Jeff Immelt, the General Electric chief executive. Since becoming chief of the world’s third-largest bank by market cap in 2005, the JPMorgan executive has survived one of the worst global financial crises.
He was president and COO of the bank following JPMorgan’s merger with Bank One in 2004. At Bank One he was chief executive and chairman. Before joining Bank One, he held a wide range of executive roles at financial services groups including Citi and American Express.
Although lauded for its resilience during the crisis, like many universal banks JPMorgan has faced the twin hurdles of onerous regulation and falling activity – and political and public distrust.
Verizon Communications
Before joining the US telecoms market leader, Lowell C McAdam studied engineering at Cornell University, spent time in the US Navy, and graduated from the MBA program at University of San Diego. Be became its chief executive in 2011 and its chairman a year later.
Lowell is considered one of the architects of today’s global wireless industry. Under his leadership as CEO, Verizon took over complete ownership of Verizon Wireless by purchasing Vodafone’s stake in the company, positioning the group for a new phase of wireless growth. But a price war started by Sprint, the number three US wireless operator, is hurting profitability and prompting more customers to switch networks.
Future leaders propelled by business school
Myriad public companies in general are led by MBA holders. Future leaders have been propelled to board seats by business schools, particularly those in the US.
The Kellogg School of Management and Wharton in January both had six FT500 CEOs each – including Alex Gorsky of Wharton at drugs giant Johnson & Johnson, and Kellogg MBA Bill McDermott, who headed SAP, the German software company.
California’s Berkeley: Haas had two CEOs in the FT500 – including Joseph Jimenez of Swiss drugs giant Novartis – and Vanderbilt University: Owen counts David Farr, CEO of Emerson Electric, as an alumnus.
In Europe EMLYON business school counts Schneider Electric CEO Jean-Pascal Tricoire among its alumni, and drugs giant AstraZeneca is headed by HEC Paris MBA Pascal Soriot. Also Spain’s Gas Natural is led by Rafael Villaseca Marco, an MBA of Barcelona-based IESE Business School.
For the UK, Coca-Cola’s chief executive is Muhtar Kent, a graduate of Cass Business School; Cranfield School of Management graduated Antony Jenkins, CEO of Barclays.
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