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External Partners Alumni Search Submit Return to home Search Search About About Olin Home Why Olin Equity, Diversity & Inclusion Leadership & Strategy News & Media Events Contact Us Programs Programs Home Explore Our Programs BS in Business Administration MBAs Specialized Master's Doctoral Executive Education Dual Degrees Faculty & Research Faculty & Research Home Faculty Directory Research Research Centers Olin Brookings Commission Olin Award Student Resources Student Resources Home Career Services Center for Experiential Learning Entrepreneurship Academic Calendars Student Organizations For Current Students For Military Veterans Admissions Admissions Home Scholarships & Aid Attend Program Events Visit Olin Ask a Student Student Profiles Request Information Refer a Candidate External Partners Alumni Koch Family endows Family Business Center, 2 professorships February 20, 2018 By Kurt Greenbaum 2 minute read Home News Koch Family endows Family Business Center, 2 professorships Four members of St. Louis’s Koch family have contributed $12 million to endow and establish the Koch Center for Family Business and two professorships—one at Olin Business School and the other at the Washington University School of Law. The family provided the gift to raise awareness about the complexities of family businesses and engage students in understanding the career opportunities available in such enterprises. Paul, Elke, Roger, and Fran Koch at the third annual Family Business Symposium on Feb. 20, 2018 (in front row with Dean Mark Taylor and Chancellor Mark S. Wrighton). Roger and Fran Koch and Paul and Elke Koch &＃8220;have been passionate about seeing a greater focus on family businesses here at Olin for many years,&＃8221; said Chancellor Mark S. Wrighton, as he announced the gift. &＃8220;There&＃8217;s a lack of perception about how many family businesses there are and what role they play,&＃8221; Paul Koch said, following the announcement. &＃8220;There&＃8217;s also a lack of perception about the complexities of family businesses.&＃8221; The announcement kicked off the third annual Family Business Symposium at Olin&＃8212;part of&＃160;a family business initiative the Kochs established&＃160;several years ago. The brothers noted how frequently family businesses fail to survive past the third generation of family ownership&＃8212;a phenomenon Paul Koch said was &＃8220;a waste of resources.&＃8221; Paul A. Koch (BSBA &＃8217;61, JD &＃8217;64, MBA &＃8217;68) and Roger L. Koch (BSBA &＃8217;64, MBA &＃8217;66) are co-chairmen of the board, and the third generation in leadership at Koch Development Co., a St. Louis-based developer and manager of commercial real estate and owner/operator of select entertainment attractions. &＃8220;It was clear from the moment I arrived in St. Louis that family business is integral to the community,&＃8221; Dean Mark Taylor said during the announcement. &＃8220;Some of the very first people I met&＃8212;even before I became dean&＃8212;were Roger, Fran, Paul, and Elke Koch. They have been extremely instrumental in thinking about how we can move forward scholarship in family business.&＃8221; Taylor noted that family businesses are a substantial driver of the global economy, responsible for 80 percent of new job creation. Family businesses contribute more than $68 trillion to global GDP and drive 64 percent of the US economy. With the announcement, Olin will launch a search for the Koch Distinguished Professorship in Family Business, who will lead the new family business center, contributing to a curriculum for students and research in the field. The center &＃8220;will have a strong practical application and will also have a very, very strong research side,&＃8221; Taylor said. &＃8220;The Kochs were keen in their discussions that we should have a strong research leader.&＃8221; The Kochs&＃8217; $12 million gift also creates a distinguished professorship at the Washington University School of Law. Wrighton noted that the Kochs will &＃8220;be providing additional expendable gifts, which will help with the ongoing growth and development of the Family Business Center and the endowed chair holder who will lead that center.&＃8221; About the Author Kurt Greenbaum As communications director for WashU Olin Business School, my job is to find and share great stories about our students, faculty, staff, and alumni. I've worked for the Consortium for Graduate Study in Management as communications director and as a journalist for the St. Louis Post-Dispatch, Sun-Sentinel in South Florida and the Chicago Tribune. Contact Us For assistance in finding faculty experts, please contact Washington University Public Affairs. Monday&＃8211;Friday, 8:30 to 5 p.m. Sara Savat, Senior News Director, Business and Social [email protected] &＃160; Kurt Greenbaum,Communications [email protected] Twitter: WUSTLnews Share article Apply Now Visit Us Request Info One Brookings Drive, St. Louis, MO 63130-4899 [email protected] 314-935-7301 News & Media Events Faculty Directory WashU Center for Career Engagement Washington University home Olin Links Sitemap Privacy Policies Title IX Accessibility ©2024 Washington University in St. Louis