Pillars | Spring 2024

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DARDEN RISING: How We Became the World’s Leading Public Business School and What We Have to Do to Stay There

L E T T E R F RO M DA R D E N S C H O O L F O U N DAT I O N L E A D E R S H I P

DARDEN RISING:

SHAPIN G DARDEN ’S NEX T CHAP T ER

Reflecting on my first few months as president of the Darden School Foundation, I’m truly touched by the warmth and energy of our community. It’s been a whirlwind of introductions, and I’m soaking up every moment. Stepping into the shoes left by Carolyn Miles (MBA ’88), whose leadership deeply enriched Darden, reminds me daily of the incredible opportunity I have to contribute to this vibrant community.

I’m excited to work with Dean Scott Beardsley and Frank M. Sands (MBA ’94), chair of the Darden School Foundation Board of Trustees.

Their vision for Darden’s future is not just about maintaining our legacy — it’s about boldly pushing forward, innovating and expanding our impact. And let me tell you, I’m here for it! I can’t wait to roll up my sleeves and work not just with the board but with all our alumni.

Your insights, experiences and passion for Darden energize our mission and shape our journey.

This issue of Pillars brings to life the stories of our alumni and faculty that inspire me daily. From the transformative journey of The Forum Hotel — our very own nexus of learning and connection — to the pioneering spirit of Steve Bachand (MBA ’63), Sonia Hounsell (MBA ’99) and Mandy Lozano (MBA ’09), each narrative showcases the remarkable paths our community members navigate, fueled by their Darden experience. The insights from Yael Grushka-Cockayne and Mike Lenox on the role of our “triathlete” professors highlight the exceptional talent and commitment that define our faculty. I also delve into my vision for the Foundation and the values that guide us in a Q&A later in this issue.

It’s an exciting time to be part of Darden, and I’m honored to join you on this journey. Together, we’re not just writing the next chapter in Darden’s story; we’re setting the stage for a legacy of innovation and leadership that will resonate for generations to come.

Warmly,

Rob Weiler President Darden School Foundation

How We Became the World’s Leading Public Business School and What We Have to Do to Stay There

By Scott Beardsley, Dean and Charles C. Abbott Professor of Business Administration

Darden’s ascent — recently rated the No. 1 public business school in the world by the Financial Times, the top overall business school in the U.S. by a composite of Princeton Review rankings and achieving our highest-ever position in Poets & Quants’ ranking of rankings — is a story of collective ambition and strategic investment.

Driven by the transformational learning experiences we offer our students, these accolades reflect the effectiveness of our efforts to bolster faculty excellence.

Achieving high rankings can be affirming and a great recruiting tool, but it’s the foundational work that matters most. Sustaining the School’s excellence and delivering on our mission — whether rankings continue to follow or not — requires that we continue to move forward together with great purpose.

IGNITING CHANGE: THE CAMPAIGN THAT IS TRANSFORMING DARDEN The launch of the Powered by Purpose campaign marked a turning point for Darden, laying the groundwork for a new era of academic achievement and innovation. Our faculty is at the heart of this transformation.

In the last decade, we’ve recruited the next generation of all-star professors with over 50 new hires, enriching our community with diverse expertise and fresh perspectives. This strategic expansion — growing Darden’s full-time faculty from 69 to 95 alongside growth in MBA formats and our student body — was accompanied by a substantial investment in faculty development, with a nearly 80 percent increase in budgetary compensation and more than a doubling of research support. Professor S. “Venkat” Venkataraman From left, Dave LaCross (MBA ’78), Kathy LaCross and Dean Scott Beardsley

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5. Inaugurate and endow the Center for Transformational Learning to supercharge faculty development, revolutionize curriculum, pioneer advanced case writing, and harness technology for state-of-the-art coaching and feedback.

6. Expand the Mayo Center for Asset Management’s impact further to the institute level, deepening its connection to asset classes such as private equity, venture capital, hedge funds and real estate.

S. “Venkat” Venkataraman, MasterCard Professor of Business Administration and senior associate dean for faculty and research, teaches in the strategy, ethics and entrepreneurship area.

has long said it best: “it’s not about great teaching; It’s about teaching great things.” That’s what these investments are all about: ensuring our faculty consistently delivers the best educational experience by intertwining leading-edge research and practical ideas.

All told, through last fiscal year and our achievement of Milestone I, the campaign raised $136.4 million (including matching funds from UVA) for faculty, thought leadership and curricular innovation. Donors have endowed 30 new chaired professorships to date — more than tripling our chairs — and fundraising momentum for faculty has continued since.

We created the Office of Research Services to ensure that our faculty members have the support they need to conduct groundbreaking research and make an impact in the classroom, business and society. We started exploring exciting new research areas, funding initiatives in artificial intelligence and private capital markets and augmenting existing ones like Darden’s Collaboratory with the UVA School of Data Science. We also relaunched our Ph.D. program, allowing students to collaborate with Darden faculty members to conduct cutting-edge research in business and management as well as develop lifelong relationships with mentors.

But it’s not like Darden to rest on our laurels. We expect the best from our faculty, and they expect it from us.

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RAISING THE BAR: THE NEXT STEPS IN OUR FACULTY EXCELLENCE JOURNEY With the recent launch of Faculty Forward, Milestone II of the campaign, we’re building on this foundation, with an eagle-eyed focus on faculty excellence as the key to sustaining our momentum. This effort underscores our commitment to remaining at the forefront of business education and thought leadership — not just among public institutions or American institutions but all institutions worldwide.

The six significant funding opportunities within Faculty Forward, totaling $200 million, are bold but necessary: 1. Redesign, renovate and modernize the Faculty Office Building for collaboration, transformational student interaction and excellence.

2. Create a dedicated endowment for faculty excellence, building on the Robert F. Bruner Fund for Faculty Excellence to attract and retain the world’s leading educators.

3. Endow the Institute for Business in Society (IBIS), cementing the legacy of Professor Ed Freeman at Darden and fueling our mission to cultivate the next generation of ethical thought leaders.

4. Officially launch the Institute for Artificial Intelligence Business Ethics, so Darden emerges as the trailblazer in ethical and innovative tech applications in the business landscape.

Sustaining the School’s excellence and delivering on our mission — whether rankings continue to follow or not — requires that we continue to move forward together with great purpose.”

— Dean Scott Beardsley

The goals we’ve set and the progress we’ve made so far post Milestone I are a testament to the strength of the Darden community. Since last summer, Dave (MBA ’78) and Kathy LaCross’s recent record-breaking gift, the first of Faculty Forward — which includes funding for research and instruction in artificial intelligence and its ethical implications for business — highlights our ambition to lead in critical areas of business and technology. Additionally, Steve (MBA ’63) and Phyllis Bachand’s $10 million gift (including matching funds from UVA) — which endows a University Professorship in business ethics and spurs IBIS — will enable us to influence the intersection of business and societal challenges. Thus, we are already progressing toward our Faculty Forward, Milestone II goals.

RATED THE NO. 1 PUBLIC BUSINESS SCHOOL IN THE WORLD

BY THE FINANCIAL TIMES

RATED THE NO. 1 OVERALL BUSINESS SCHOOL IN THE U.S.

BY A COMPOSITE OF PRINCETON REVIEW RANKINGS

ACHIEVED SCHOOL’S HIGHEST-EVER RANKING (NO. 8) IN POETS & QUANTS’ RANKING OF FIVE MAJOR U.S. MBA RANKINGS

EMBRACING CHALLENGES, SEIZING OPPORTUNITIES: THE ROAD AHEAD We also must acknowledge the challenging journey ahead.

The evolving landscape of business education demands continued innovation and dedication. To maintain our institutional leadership and continue providing transformational learning experiences to our students, we need your increased support of our faculty.

The uncomfortable reality is that while we have made substantial, material improvements in supporting and investing in our faculty, Darden still lags behind top peers

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ALUMNI PROFILE

HOW READIN G THE MORNIN G PAPER INSPIRED AN ALUMNUS’ MISSION TO SHAPE ETHIC AL LEADERSHIP

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teve Bachand’s (MBA ’63) mornings often start with The Wall Street Journal. But for some time, the news hasn’t been sitting right. Story after story of ethical lapses in business leadership disheartened him. One day, he decided to do something about it.

FACULTY FORWARD IS NOT JUST A CAMPAIGN SLOGAN; IT’S A COMMITMENT.

Rendering from Robert A.M. Stern Architects of the proposed refresh of the Faculty Office Building.

in faculty compensation, making our best professors targets for poaching. Our faculty excellence funds — which enabled some of the successes I mentioned earlier — are already tapped out. Objective measures of our faculty research show we are still far behind not only our elite peers but also many others in the sector, with a No. 46 Financial Times research ranking. Our faculty members need additional leverage to improve the productivity and impact of their research — which in turn fuels teaching leading-edge electives and impacts practice and executive education. And as evidenced by two of our priorities for Faculty Forward, IBIS and the Mayo Center require resources to scale as they are key vehicles for our faculty’s thought leadership.

On the facilities side, Darden’s master plan — approved

by UVA’s Board of Visitors — foresees a significant but fiscally prudent refresh to the Faculty Office Building to support faculty excellence. While it holds memories of the past, it’s time for it to signal Darden’s vibrant future. More than just a space, it’s where ideas are born, collaborations flourish and students connect with mentors. We must turn this space into a living embodiment of Darden’s ethos. The revamped building, featuring a transformational faculty hub, should be a nexus for innovation, collaboration

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and community — ensuring every corner resonates with Darden’s commitment to excellence and student-centricity.

Robert A.M. Stern Architects, which designed the original Goodwin Family Grounds in Charlotteville, has completed an incredible conceptual design that we hope to build in 2025, pending a lead gift.

TOGETHER TOWARDS TOMORROW: JOIN US ON OUR JOURNEY TO EXCELLENCE So, Darden stands at a crossroads. We have the opportunity to further shape the future of business education in the mold of all that this place stands for — ethics, rigor, discernment, honor, relationships and growth. Faculty Forward is not just a campaign slogan; it’s a commitment.

Together, we can continue to set standards of excellence, inspire the next generation of leaders, and make an indelible impact on the world of business and beyond. The path forward is filled with promise, and with your support, we can turn our ambitious vision into reality. Let’s embark on this exciting journey together, shaping a future where Darden leads not just in rankings but also in making a difference.

Late last year, Bachand and wife Phyllis — both members of Darden’s Principal Donors Society — made a significant commitment to the University of Virginia. Their $5 million gift, matched by an additional $5 million from the University’s Bicentennial Professors Fund, established the Stephen E. Bachand University Professorship in support of business ethics. Bachand’s aim was clear: to foster ethical leadership and make a lasting impact on future generations of business leaders.

A JOURNEY OF GIVING Reflecting on his history of giving to Darden, Bachand explains, “Well, initially, my interest wasn’t in ethics. It started with my passion for supporting first-generation college students.” His decision to extend his support from scholarships to faculty support stemmed from his belief in the institution’s ability to shape responsible leaders.

“Why Darden? Because it’s where I believe I received the most impactful education and career development,” he adds.

“More than that, I know Darden is worth the investment. With the case method behind everything Darden does, everyone connected to the School is empowered to tackle big ideas, including issues confronting society.”

INSPIRATION FROM DARDEN’S FOCUS ON ETHICS Bachand’s admiration for Darden’s focus on ethics and the influence of Professor Ed Freeman played a significant role in his decision. Freeman’s pioneering work

highlighting the need for a clear vision and commitment to the cause.

He encourages others who are reflecting on their own philanthropy to make gifts now so they can enjoy the impact of their generosity. “I wish I had made this gift sooner because I am having so much fun seeing its impact unfold,” he says.

Phyllis and Steve (MBA ’63) Bachand in stakeholder theory has shaped a practical and ethical view of how business and capitalism can benefit all. Bachand recognizes the multiplier effect of a professor’s thought leadership in ethics, envisioning how generations of Darden students, who then become leaders, can benefit from such teachings.

THE IMPORTANCE OF TRUST Bachand emphasizes the importance of trust in his decision-making process regarding where and how to make a major gift to Darden. “Starting something like this requires faith that it will make a difference, even if we may not see the full impact ourselves,” he remarks. His hope is that his donation will spark positive change.

ADVICE FOR ASPIRING PHILANTHROPISTS Asked about advice for those considering gifts to Darden, Bachand stresses the importance of aligning one’s philanthropic efforts with their values and trusting in the School’s ability to effect change.

“It depends on what they aim to achieve with their philanthropy,” he begins,

A COMMITMENT TO LIFELONG LEARNING Bachand’s thirst for knowledge remains unquenched, as well as his appreciation of Darden’s transformational education experience. “I’m always eager to learn something new,” he shares, and it excites him to know what Darden students are learning today. He says that if given the chance, he would re-enroll at Darden.

“I’d likely dive into the world of AI,” he suggests, highlighting his curiosity about emerging fields.

Bachand is the former president and CEO of Canadian Tire Corp. Ltd. He later continued public board service spanning Canadian industries. He has been a loyal donor to the Darden School for more than 50 years and made his first gift in 1972.

A LEGACY OF IMPACT Steve Bachand’s commitment to making a difference, both at Darden and in the broader business world, highlights the transformative power of education and the importance of giving back. As he continues to advocate for ethical leadership and lifelong learning, Bachand’s legacy will endure, shaping the future of business for generations to come.

Discover how to support Faculty Forward, Milestone II of the Powered by Purpose campaign, at giving.darden.virginia.edu. For tailored guidance, contact Deputy Vice President for Advancement Samantha Hartog at +1-434-981-4025 or HartogS@darden.virginia.edu.

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DARDEN GROUNDS FOSTERING BELOVED TRADITIONS AND SPARKING NEW ONES Another Thursday at The Forum, this time in November, saw the spirit of Thanksgiving envelop its grand ballroom. The annual international student Thanksgiving dinner drew 240 guests. Once constrained by space, the celebration thrives in The Forum’s expansive setting.

“The Forum is more than a hotel,” says Rob Weiler, president of the Darden School Foundation. “It’s a gathering place that bridges cultures and fosters community.”

First Year sections now have welcome dinners at The Forum, larger gatherings Darden couldn’t accommodate before the hotel’s opening. These dinners, symbolizing the start of many cohorts’ academic journeys, are poised to become a cherished part of the Darden experience.

Adjacent to The Forum, the Arboretum & LaCross Botanical Gardens have quickly become a favorite for the Darden community and the wider University. The outdoor classroom amphitheater has already hosted classes, concerts and other gatherings. It’s one of several spaces near The Forum offering unique opportunities for connection and learning in the beauty of nature.

Students walk across the Carl Mason Franklin Footbridge in the Arboretum & LaCross Botanical Gardens.

The Forum has become an indispensable part of how we teach, learn and connect.”

— Professor Tim Laseter (MBA ’84, Ph.D. ’03)

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THE FORUM HOTEL: A YEAR OF TRANSFORMATIVE EXPERIEN CES AT DARDEN

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ne Thursday in February, amidst the bustling ambiance of The Forum Hotel’s vibrant lobby, groups of First Year students in “Financial Management and Policies” huddled over laptops. They weren’t there for coffee and conversation; they were orchestrating a merger negotiation simulation — a testament to the real-world applications of their rigorous curriculum. This scene, unfolding within the walls of the year-old on-Grounds hotel, vividly captures the transformative educational experiences that define Darden.

“The Forum has become an indispensable part of how we teach, learn and connect,” says Professor Tim Laseter (MBA ’84, Ph.D. ’03), a frequent hotel user both as an instructor and patron. “Frankly, it’s my favorite investment in expanding the Darden Grounds since I first arrived as a student over 40 years ago.”

The Forum hosted over 90 Darden events in its first 10 months, fulfilling its pivotal role in enriching the student and faculty experience. Additionally, it welcomed the wider University community, hosting about 80 UVA events from Virginia Athletics Foundation pre-games to academic and networking events for the School of Law and School of Medicine.

SERENDIPITOUS ENCOUNTERS AND GLOBAL CONVERSATIONS “Serendipitous encounters at The Forum often lead to moments of learning and inspiration,” Laseter notes, highlighting a unique ecosystem where academia and industry intersect seamlessly. He organizes a wide range of events at the hotel, including the Darden Reading Society for faculty and staff; a cross-disciplinary faculty Web3 Conclave; celebratory gatherings for Executive and Full-Time MBAs in the Global Client Projects course; classes for Executive Education & Lifelong Learning (EELL); as well as dinners and breakfasts with alumni. Additionally, executive speakers featured in his courses often stay at the hotel.

“Darden’s mission is about fostering leaders who can make a difference in the world,” says Darden Dean Scott Beardsley. “The Forum enables us to bring world leaders to our doorstep, enriching our community’s understanding and engagement with global issues. The facility and botanical gardens are also open to all members of our Charlottesville and UVA community.”

One evening in January, attendees gathered to hear NCAA President Charlie Baker conversing with Professor Kim Whitler, showcasing The Forum’s capacity to host nationally relevant conversations, drawing students, faculty and the broader community into meaningful dialogue.

Additionally, the hotel hosted last year’s International Symposium on Forecasting — traditionally held in

Professor Kim Whitler and NCAA President Charlie Baker discuss the rise of name, image and likeness (NIL) for college athletes.

cosmopolitan locations such as Dijon, France, and Beijing — positioning Darden and Charlottesville in the same conversation for influential business conferences.

ELEVATING RECRUITMENT AND NETWORKING Recruitment at Darden continues to evolve, with The Forum playing a significant role. Notable companies such as Bain, BCG, CoStar, McKinsey, Wells Fargo and Bechtel Enterprises have leveraged the hotel’s spaces for various events, including office hours, happy hours, speakers and roundtable discussions. While it has become a preferred venue for some, the hotel is part of a broader ecosystem for recruitment activities. Recruiters utilize a combination of venues at The Forum and around Charlottesville, tailoring their approach to enhance the recruitment experience for Darden students and employers alike.

A HOME FOR DIVERSE DEGREE FORMATS AND LIFELONG LEARNING The Forum has swiftly become a pivotal home for Darden’s varied educational paths. It offers a welcoming space in Charlottesville for the Executive MBA, Part-Time MBA and Master of Science in Business Analytics programs.

Despite these programs’ primary operations out of the Sands Family Grounds in Rosslyn, Virginia, the hotel hosts numerous residencies, allowing students to immerse in the rich academic life on the Goodwin Family Grounds in Charlottesville.

Impressively, The Forum facilitated an “All Darden” welcome event last fall, uniting over 550 incoming students from all program formats, including the Full-Time MBA, to commence their Darden experience. This unique gathering underscored the hotel’s significance as a vibrant nexus for the School’s educational programs.

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In addition to serving degree-seeking students, The Forum has been instrumental for EELL participants, hosting many in-person programs and engaging hundreds of professionals. This arrangement has been highly praised by participants, who navigate between the academic rigor of the Classroom Building and the residential comfort of The Forum. The phrase “up the hill and down the hill” has become a fond expression, symbolizing the seamless integration of learning and living that The Forum facilitates.

In the first 10 months of the hotel’s operation, EELL participants have logged nearly 6,400 room nights.

Ashley Williams, CEO and chief learning officer of Darden EELL, comments on this unique dynamic: “The Forum Hotel and the Arboretum & LaCross Botanical Gardens provide world-class facilities and amenities that enhance the Darden learning experience. Lifelong Learning participants are thrilled with the ability to leverage the robust opportunities for learning and community building that the entire Darden Grounds now offers.”

The vision has always been that by 2050, the hotel will be fully paid for, and thus a long-term endowment worth hundreds of millions of dollars for the Darden School.”

So far, we are more than on track versus our investment business case.”

EMPOWERING THE FUTURE THROUGH PHILANTHROPY The hotel was propelled by the vision and generosity of Frank Sands Sr. (MBA ’63) and his wife, Marjorie, whose $20 million naming gift in 2019 inspired over 100 additional donors. “The collective support for The Forum underscores our community’s belief in Darden’s mission and its future,” says Frank M. Sands (MBA ’94), chair of the Darden School Foundation Board of Trustees.

“The Forum name was chosen to reflect my parents’ vision for Darden — a dynamic space for converging ideas, forging leaders and community collaboration,” Sands explains. “They envisioned it standing at Darden’s heart, like ancient forums central to civic engagement. It embodies their hope for Darden: a place for vibrant discussion, learning and idea exchange to prepare the next generation of leaders.”

Significant naming opportunities in The Forum and surrounding Arboretum & LaCross Botanical Gardens invite future benefactors to join this story of innovation, community building and educational excellence. Darden hopes to raise an additional $20 million in philanthropy for the project, and several iconic spaces are available for naming, such as the Conference Center for Executive Education and Lifelong Learning, ballroom and beautiful outdoor spaces.

More than just routine, each day at The Forum is a step forward in shaping tomorrow’s leaders, securing its place in Darden’s legacy as a bastion of educational excellence, propelled by the spirit of generosity and hospitality.

— Dean Scott Beardsley

A SUSTAINABLE FINANCIAL MODEL As The Forum celebrates its first anniversary, this architectural marvel has achieved many of its strategic goals.

It creates a dynamic learning environment, hosts enriching academic and professional development events, delivers unparalleled hospitality experiences, enhances Darden’s brand and mission, and provides competitive spaces for degree programs. The hotel is also LEED certified and eco-friendly, helping Darden garner a No. 2 global ranking in carbon footprint from the Financial Times.

Beyond these achievements, The Forum’s financial model is a beacon of sustainability. “All excess economic proceeds from The Forum are invested back into Darden’s mission, ensuring we can continue to support excellence in our students and faculty,” Weiler explains.

Beardsley adds, “The vision has always been that by 2050, the hotel will be fully paid for, and thus a long-term endowment worth hundreds of millions of dollars for the Darden School.

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FAC U LT Y F O RWA R D

To learn more about naming opportunities, visit darden.edu/ naming-opportunities. For tailored guidance, contact Deputy Vice President for Advancement Samantha Hartog at +1-434-9814025 or HartogS@darden.virginia.edu.

Professor Yael Grushka-Cockayne teaches in the quantitative analysis area, and Professor Mike Lenox teaches in the strategy, ethics and entrepreneurship area.

TRIATHLETE PROFESSORS: MASTERING TEACHING, RESEARCH AND PRACTICE AT DARDEN

By Mike Lenox, Tayloe Murphy Professor of Business Administration, and Yael Grushka-Cockayne, Altec Styslinger Foundation Bicentennial Chair of Business Administration

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s Darden professors, we pride ourselves on being “triathletes” — excellent in teaching, conducting research and engaging with practice. Outstanding teachers who provide powerful learning experiences through instruction and course development. World-class scholars who perform research that is both rigorous and relevant to the world. And partners with leaders of companies and organizations who solve problems and identify solutions.

Critically, it is the Darden philosophy that winning “triathletes” are strong precisely because they are strong across these three dimensions. The best professors are not merely the sum of these three separate and independent activities; the best professors emerge through their harmonious integration.

REDEFINING CLASSROOM DYNAMICS: THE ART OF TEACHING AT DARDEN Teaching students is the primary objective and mission of a Darden professor. In some universities, however, this is not the case. There, teaching is secondary, seen as a distraction from the true calling of the professor — conducting research. In such institutions, research rises in primacy while teaching is devalued.

Students gather at The Forum Hotel before an event.

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“Professors build expertise by immersing themselves in the literature, exploring age-old questions and building on the knowledge of those who came before them. They are trained to be observers of the world — collecting data, crafting models and running experiments.”

At Darden, this is not the case. We cultivate and celebrate teaching excellence. The faculty expect and demand excellence from one another. We take great pride in Darden’s recognition as the world’s best education experience provided by the world’s best teaching faculty.

Our excellence begins in the “pit” — that wonderful space in the center of the room where a Darden professor masterfully conducts a symphony of voices. As a case-based school, we emphasize student-centered learning where the experiences and insights of students are as valuable as the professor’s words. The role of the professor is to guide, prod and push our students’ thinking, individually and collectively.

While the best among us makes this experience seem effortless, it is truly anything but. Professors spend hours preparing for a single class. What appears like a spur-ofthe-moment question during class may be part of a carefully crafted teaching plan to help guide the discussion toward key insights and desired learning objectives. Professors in

the Darden core curriculum gather as teaching teams for hours each week, discussing the week’s cases and crafting a collective lesson plan.

To support our work, we develop the teaching materials that form the basis for discussion — writing cases and technical notes, recording video lectures, and creating simulations and experiences. We pride ourselves on course and curriculum development — crafting a series of modules into a cohesive whole that takes students on a journey of discovery. We strive to offer other professors worldwide the tools to embrace the student-centered approach, emphasizing timely, relevant cases based on real leaders and their decision moments.

Our work does not end when class ends. We meet with students during office hours, participate in Darden Cup events, and have students over to our homes for dinner and discussion. We mentor students on research projects. We counsel them on career paths. We serve as trusted advisors.

BEYOND THE CLASSROOM: THE RIGOROUS JOURNEY OF RESEARCH Research is a long, unpredictable process. To obtain insights and results, a researcher must be thorough and rigorous. One needs many consecutive hours. Sometimes, after hours and hours, over months or even years, some research might fail to produce the desired results. With such an important and potentially impactful job as a teacher, you might ask yourself why Darden professors spend so much time doing research.

We conduct research to build expertise and insight that informs the cases we write and the questions we ask in class.

Insights that we share with our students and that improve management practice. Crafting courses and curricula must be informed by our in-depth study of critical topics.

Professors build expertise by immersing themselves in the literature, exploring age-old questions and building on the knowledge of those who came before them. They are trained to be observers of the world — collecting data, crafting models and running experiments. They use the past to draw ideas about the future. As professors, we seek to separate the causal from the spurious. We seek to identify the underlying nature of things.

The insights we generate will have broad generalizability.

While we may examine the latest trends, we aim to create universal insights that transcend the merely here and now.

While any paper might be narrow or esoteric, gradually accumulating small insights leads to better models of navigating our world.

At a world-class institution like Darden, our students should expect nothing less than to be taught by the leading thinkers in their respective fields. Professors who are informing management practice and public policy. Professors who have established global reputations and are frequently sought for their expertise and insights.

FROM THEORY TO PRACTICE: BRIDGING THE GAP WITH REAL-WORLD INSIGHTS

Luca Cian, Killgallon Ohio Art Associate Professor of Business Administration, teaches in the marketing area.

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Roshni Raveendhran, assistant professor of business administration, teaches in the leadership and organizational behavior area.

Many of us on the Darden faculty have spent some time in business. We have experienced corporate life, the challenges of working in the public sector or have had entrepreneurial experiences.

We became professors not only to inspire and educate leaders through our in-class teaching but also to study, analyze, and solve important and relevant problems that impact business managers and leaders, some of which we experienced and learned about through our ongoing engagement with practitioners.

Elena Loutskina, professor of business administration and Peter M. Grant II Bicentennial Foundation Chair in Business Administration, teaches in the finance area.

We love and are intrigued by the business world. We are inspired by hours of conversations, on-the-ground discovery and deep analysis of what we observe in the field. We aim to ensure that the themes chosen from our research matter and stand to impact the world of practice, helping leaders and managers advance their businesses and helping stakeholders solve societal problems. Inspired by what we learn from individual projects, we identify generalizable principles and frameworks.

Our work with practice helps us connect with our students, write timely and relevant case studies, and teach the most relevant methods for solving current problems. We aim to give our students the tools to lead today’s companies in tomorrow’s world. We only do so with our firsthand knowledge and indepth familiarity with present-day theories and applications.

It is a magical moment when we use the results of an engagement with a company to craft our scholarly research and then educate our current MBA candidates and future leaders on the implications of this work.

THE PROFESSOR AS SERVANT-LEADER: A HOLISTIC APPROACH TO BUSINESS EDUCATION Ultimately, a professor is a servant-leader to many stakeholders. Our teaching, research and practice are part of an integral whole that defines us. Without one, we would be lesser in the others. Together, they provide a calling — the ranks of which we feel privileged to be a part, thanks to the support of loyal Darden alumni supporters.

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using a combination of in-person and online formats. This approach enables us to reach a broader demographic and amplify our impact in various sectors.

Engagement and innovation are crucial to sustaining and expanding our network. By adapting to the changing needs of our alumni and leveraging technology to enhance educational offerings, we can continue to uphold Darden’s legacy of excellence in business education.

MEET ROB WEILER: DARDEN SCHOOL FOUNDAT ION ’S NEW PRESIDEN T

Since you’re familiar with UVA, are there any spots on Grounds that hold special memories for you?

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ob Weiler’s journey back to Charlottesville is a homecoming steeped in nostalgia and forward momentum. Weiler graduated from UVA with a bachelor’s degree in economics in 1986 before earning an MBA from UCLA Anderson. He spent more than 15 years in the banking industry — working at firms such as Goldman Sachs and UBS — and then served 16 years at UCLA Anderson, most recently as associate dean of the Full-Time MBA program.

Weiler’s return to UVA marks a fullcircle moment, accompanied by his wife, Melissa, and their fraternal twin sons, Matt and Jake, both 2021 UVA graduates. This conversation offers a closer look at the new president of the Darden School Foundation — an independent, nonprofit, tax-exempt corporation that supports the Darden School and its academic mission.

Returning to Charlottesville must be quite the journey for you and your family.

Absolutely. I started as an undergraduate student here, then ventured to New York and Los Angeles. But Charlottesville always had a pull on our family. We bought a house in Albemarle County years ago, spent summers and holidays here, and even grabbed UVA men’s basketball season tickets at JPJ early on, knowing we’d return. Eventually, it became clear that Charlottesville was where we belonged. My boys enrolled at UVA in 2017, solidifying our connection. We moved back in April 2021, and while I continued working with UCLA remotely for a bit, the East Coast ultimately called.

How do you plan to bolster the Foundation’s impact on the School and community?

The Foundation’s core mission is to support Darden and its academic mission. This can take many forms, whether operating our top-ranked

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Executive Education & Lifelong Learning (EELL) programs — which serve as a vital bridge between academic theory and real-world practice — or promoting philanthropic support from alumni, friends and corporations. We also manage endowment funds for the School’s exclusive benefit.

The financial support we offer the School is critical to its success, and unrestricted cash flow is key. Now, when we look at our sources of unrestricted cash, we have our annual fund and endowment, the primary traditional sources. Additionally, we have the newly established Forum Hotel, which holds immense potential as a revenue generator. However, it requires careful nurturing to reach its full potential.

The hotel has already proven valuable for EELL. It also attracts the Darden community and the wider UVA and local community. Then there’s the aspect of student housing, which we are exploring and is another asset with significant potential. Dean Beardsley’s long-term vision for Darden is to have these resources become steady sources of funding that provide consistent support for faculty and student excellence in perpetuity.

Undoubtedly, there are numerous moving parts to our work at the Foundation — from EELL to promoting giving to endowment management to ownership of the hotel. With so many operational pieces to the puzzle, we can’t simply prioritize one aspect over another.

Rob Weiler sits beneath the Yulan magnolia near the Rotunda on the Grounds of the University of Virginia.

What has been your focus these first few months on the job?

How do you plan to engage with, enhance and expand the alumni network?

My focus has been on understanding all facets of the Foundation’s work, building relationships across the University and helping prioritize where our resources should be directed.

Scholarships, for example, are essential in attracting top-tier students in today’s competitive landscape. The competition for talent is fierce, and offering competitive financial aid packages attracts students who align with Darden’s values and culture.

When students are fully engaged and committed, it creates a positive cycle of success.

There is a similar virtuous cycle when we support faculty excellence to ensure Darden has the world’s best professors.

So, in essence, our mission is crystal clear: we must provide the necessary resources to recruit and retain the best students and faculty, as they are the cornerstone of our success.

Engagement has been a priority for me from day one. We need to be strategic, recognizing that each generation of alumni requires a tailored approach. For instance, alumni from different decades may have varying financial experiences, which impacts their perspectives on giving. Many may not fully appreciate the current financial landscape for students. Therefore, it’s important to socialize these changes and emphasize the enduring aspects of the Darden experience, such as our collaborative culture and transformative faculty interactions.

Regarding EELL, it’s intriguing how it operates via the Foundation yet aligns so closely with the School’s academic mission. EELL is a conduit for extending Darden’s expertise beyond traditional MBA programs. Leveraging our faculty’s thought leadership, we can cater to a diverse audience, from corporate executives to military leaders,

This intriguing tree — the Yulan magnolia — is right near the Rotunda, along University Avenue. It’s like no other, with its branches seeming to sprout from the ground. It almost looks like it was buried upside down.

I remember many nights walking past that tree, sometimes in deep conversation with friends, other times just marveling at its peculiar shape.

It’s been a constant presence, sparking serious discussions and moments of sheer awe. It just makes you wonder how it came to be that way.

What’s a hobby or interest outside of work that might surprise people?

I’m passionate about gardening, although my attempts have been mixed.

Another interest is my substantial, albeit somewhat disorganized, stamp collection. And, of course, being in Charlottesville allows me easy access to hiking, which I love.

You appeared on a game show once.

Would you share more about that experience?

I was on Scrabble, hosted by Chuck Woolery. A friend of mine and I tried out together, and we both made it onto the show. I managed to win my initial rounds and made it to the showdown.

I walked away with $1,500 in prize money. Funny enough, that prize money covered a good chunk of my tuition for a quarter at UCLA Anderson.

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ALUMNI PROFILE One big takeaway from her class was the importance of trusting your instincts. Sure, I’ve become quite analytical and data-driven over the years, but Luann reminded me that instinct plays a crucial role, too. It was those moments when I’d voice my thoughts, and she’d help me piece it all together, even when I was just shy of the mark. And that lesson stuck with me — how to guide someone who’s almost there, how to coax out that last bit of understanding.

Cycle of Giving: A Road Racer’s Ride to Leadership and Making a Difference at Darden

WHAT HAS YOUR PROFESSIONAL JOURNEY BEEN LIKE SINCE DARDEN?

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andy Lozano (MBA ’09) exemplifies the power of engaged alumni at Darden.

Transitioning from professional cycling to corporate leadership and now to active philanthropy, Lozano’s journey is a testament to the influence of Darden’s transformational education experience. As a member of the Darden School Foundation Board of Trustees and the giving chair for her 15th reunion this spring, she embodies the spirit of giving back, showcasing how every graduate can contribute to shaping the School’s future. This conversation reveals her insights on philanthropy, leadership and the lasting influence of Darden on her path.

WHAT LEADERSHIP AND MANAGEMENT LESSONS DID YOU LEARN FROM CYCLING? One big aspect is the team dynamic. Cycling might seem like an individual sport, but it’s incredibly team-focused and strategic. There’s a whole lot of planning that goes into it. It’s not just about being the fastest rider; it’s about outsmarting your opponents. You need to assess the field, understand your competitors’ strengths and weaknesses, and strategize accordingly.

My role as a domestique exemplified this perfectly.

Essentially, I was the “worker bee” whose job was to support the team, even if it meant sacrificing my own chances of winning. So, whether driving the pace at the front of the pack or chasing down breakaways, I had to constantly adapt and make split-second decisions based on the situation.

Then there’s the aspect of learning from losses. In sports like cycling, you lose way more often than you win. It’s all about taking accountability and figuring out what you can do differently next time.

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a scholarship at Darden. It was a way for me to honor my parents’ legacy of emphasizing the transformative power of education and to help break down the financial barriers that often stand in the way.

Mandy Lozano (MBA ’09) during her days as a professional cyclist.

Rest is another critical factor. People often underestimate the importance of rest and recovery in sports, but it’s just as vital in the workplace. Grinding non-stop isn’t sustainable.

You need to give your mind and body the chance to recharge, or you’ll burn out.

WHO IS A DARDEN PROFESSOR WHO MADE A SIGNIFICANT IMPACT ON YOU? Luann Lynch, our accounting professor in Section C, was an absolute legend. You’ve probably heard people jokingly refer to her as the one who named her twins Debit and Credit.

(I still don’t know their real names!) Anyway, Luann had this knack for making everything click. You’d spend hours puzzling over something, and then suddenly, it would all fall into place. She was relentless in making sure we got it but also incredibly kind. She had this way of gently guiding you when you were almost there, nudging you until it all made sense. She was truly gifted, and I adored her.

I’ve had quite the journey jumping between vastly different industries. Starting with beauty at Burt’s Bees, I knew I wanted to pivot back into marketing and general management. So, I went from beauty to snacks at PepsiCo, then to coffee and retail at Starbucks, then to Nestlé and then to housewares at MiiR, then to molecular science at an ingredients company. But what’s been consistent is my ability to understand and lead in all these different environments.

I attribute a lot of this adaptability to my time at Darden.

The case method and the hundreds of cases we tackled during my time there really honed my ability to quickly assess a situation, create mental frameworks and identify the most critical actions to take.

Working with founders has also been particularly enlightening. I’ve had the opportunity to learn from some incredible entrepreneurs like Roxanne Quimby (Burt’s Bees), Howard Schultz (Starbucks), Bryan Papé (MiiR), and most recently, the co-founders of my current startup company (Spoke Sciences). Managing the personalities of founders and channeling their energy is its own art form. They bring this infectious optimism and belief in their vision, which can be incredibly motivating. Sometimes, it pushes the organization further than it ever imagined, and that’s where the magic happens. I may not be the entrepreneur with the big idea, but I’m the one who can take that idea and run with it, scaling it up and making it a reality.

WHAT DRIVES YOUR SUPPORT FOR DARDEN? Reflecting on my journey, I realize how fortunate I was to have parents who fully supported my undergraduate education without leaving me saddled with debt. However, when it came to Darden, things took a different turn. I ended up accumulating a significant amount of debt, which posed some serious challenges for me after I graduated.

But here’s the thing: the generosity and passion for education that my parents instilled in me stuck with me. It became a driving force behind my desire to pay it forward and help someone else access the opportunities I had, albeit with less financial strain. So, I decided to establish

Mandy Lozano (MBA ’09) is a member of the Darden School Foundation Board of Trustees.

WHAT HAS MOTIVATED YOU TO MAKE A PLANNED GIFT TO DARDEN? Well, one thing is that it helps me think about and plan for my legacy. But beyond that, it helps create dialogue.

Over time, I’ve been talking to my sister, her husband, and their kids about my passion for education and animals.

It helps to have those conversations and seed philanthropy for those around us. For instance, for Christmas, I ask my niece and nephew to donate something in my name instead of giving me gifts. They’re 12 and 14, and if they think at all about giving back, or giving to those in need, when they think of me, then when it comes to being an Aunt, I’d say I crushed it. Moreover, I’ve decided that when I’m gone, they will have some autonomy over a portion of my estate. I’ll let them decide how to donate it.

All these decisions stemmed from stating my intentions, and the Darden team was instrumental in helping me navigate through it all. They facilitated a constructive conversation, and I realized how simple it was to execute my plans.

Ultimately, it’s not about my ego but about being clear about how much I love my alma mater and how crucial it is to support it financially. Moreover, it’s about realizing that you can positively influence the trajectory of students and of different parts of the School if you’re committed to it, which is a big deal for me.

For more information on planned giving, contact Director of Strategic Gifts Mary Katherine Barbour, at BarbourM@darden. virginia.edu or +1-434-924-4783.

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why I try to get involved in Women@Darden, Graduate Women in Business and any group activities I can. I truly believe it’s vital to fostering success for women at Darden.

ALUMNI PROFILE

SHARE AN EXPERIENCE THAT HIGHLIGHTS WHY VOLUNTEERING AT DARDEN IS IMPORTANT TO YOU.

Sonia Hounsell (MBA ’99), center, with two recent Darden graduates after a Women in Entrepreneurship panel in November 2023, holding FunkkOFF! TeethRefreshers.

HOW A SHARK TANK ALUMNA NURT URES C AREER GROW TH, COMMUNIT Y AT DARDEN

D

iscovering unforeseen career paths, fostering lifelong friendships and embracing a vibrant community spirit — these are just some of the transformative experiences shared by Darden alumni.

In this conversation, Sonia Hounsell (MBA ’99), co-founder of reusable travel toothbrush and toothpaste FunkkOFF! TeethRefreshers and Shark Tank entrepreneur, reflects on her Darden days and how and why she chooses to give back.

HOW HAS DARDEN SHAPED YOUR CAREER? I went to Darden to pivot my career.

There, I discovered a whole new career path in brand marketing and consumer

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packaged goods that I didn’t even know existed. I found my passion at Darden.

And when I left, I realized just how important the Darden community was, even in the corporate world. Many people I knew from Darden became my closest friends and valuable resources in the companies I worked for.

Additionally, I formed a strong bond with a group of women at Darden, and we’re still close friends. We try to get together annually. Those women were my lifeline during my time at Darden. While our group was more of a social circle, it was also a support system. Darden can be intense, especially for women who were a minority at the time. We leaned on each other for support and encouragement, and that continues to this day.

HOW HAS YOUR RELATIONSHIP WITH DARDEN EVOLVED SINCE GRADUATION? I started with just making gifts and showing up to reunions. Then, I began attending local chapter events, which I enjoyed. But the big change happened when my kids left for college, and I found myself suddenly an empty nester.

It hit me hard. So, even before they left, I reached out to the engagement team at Darden. I thought, “Okay, what can I do with my time?” And Darden has always held a special place in my heart. I’ve always wanted to do more, and finally, the timing was right.

That feeling of community I experienced at Darden is something I want to see thrive and expand. That’s

I received a call from someone who attended a recent Women in Business webinar in which I participated. It’s been great to connect with so many people reaching out to me on LinkedIn. I’ve had conversations with quite a few individuals, but two in particular stood out.

First, a fourth-year student at UVA participated in the panel. She doesn’t have a strong business background but wants to incorporate business into her career. We had a lengthy discussion about how she could position herself for success at Darden, something I wish I had guidance on years ago. It was rewarding to help her navigate this path.

Then, another woman who has been in the workforce for about three years is unhappy with her current job.

She’s unsure if business school is the right next step for her and is worried about how it might look on her Darden application if she changes jobs. It’s a practical concern, but she contemplated staying in an unhappy situation to maintain a favorable application image. I provided her with some strategic advice on approaching her career before Darden and how to set herself up for success at Darden.

WHAT ARE SOME OTHER WAYS YOU HAVE ENGAGED WITH DARDEN? The Women in Leadership Summit in 2022 was a fantastic event that opened my eyes to what’s happening at Darden and how I could contribute. Through my passion for entrepreneurship, I also connected with some folks from the Batten Institute. And you know, ever since my appearance on Shark Tank, I’ve been drawn to pitch competitions like a magnet. The experience is valuable to me. Sure, I still do plenty of pitches, but there’s something unique about those competitions. Getting involved with the pitch competitions at the Batten Institute has been exceptionally fulfilling and rewarding for me.

DID YOUR DARDEN EXPERIENCE PREPARE YOU IN ANY WAY FOR YOUR APPEARANCE ON SHARK TANK? The experience is pretty wild. I never considered myself a Shark Tank fan — not that I disliked it, but I just never watched it. So, when they reached out and asked us to apply, I wasn’t sure what to expect. Turns out, it’s as real as it gets. The Sharks know nothing about your product or brand, and you pitch to them for almost an hour. They only air about eight minutes of that, but wow, it’s intense. You have to think fast because you never know what they’ll throw at you, and there are no retakes. Once you’re in the hot seat, it’s non-stop grilling from these ultra-successful business titans.

In a way, I think the intense environment at Darden prepared me for it. The School hones your problem-solving

skills and ability to think on your feet, which you need during a pitch. It was nerve-wracking to face these heavy hitters, but ultimately, it was an invaluable experience for our company. The visibility it provided was tremendous. Shark Tank has such a massive audience, both domestically and internationally. It opened up doors for us globally, which is huge for any entrepreneur.

Sonia Hounsell (MBA ’99), second from left, poses with friends at graduation.

IF SOMEONE WANTS TO GET MORE INVOLVED WITH DARDEN, WHAT ADVICE DO YOU HAVE? There are two aspects to this. One is more emotional. Do you remember that special feeling you had on Grounds? That sense of excitement and energy, those moments where you felt your mind expanding, your outlook broadening? Reconnecting with Darden helps you tap into that. It’s this incredible sensation of growth that makes you feel like you can conquer anything.

That feeling is so visceral, you know? And honestly, after being disengaged for so long, I had forgotten about it. But attending events like the Women in Leadership Summit and the Alumni Association Board of Directors meeting reignited that spark for me. It’s truly inspiring to be in that environment again.

But then there’s another piece to it. I think we all carry a sense of pride in having attended Darden, and that pride is not only personal but also crucial for our careers and advancement. Contributing back to Darden adds to that reputation. And as alumni, we benefit from seeing that reputation grow and expand. It’s up to us to keep that momentum going. So, staying involved is not just about giving back — it’s about ensuring Darden’s continued success and the ongoing enhancement of our own reputations.

Get Involved With Darden: Let us know how you’d like to contribute. Fill out the Alumni Interest Form (drdn.mba/interest).

For tailored guidance, contact Jen Oliver, Senior Director of Alumni Engagement, at OliverJ@darden.virginia.edu or +1-434-982-3696.

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P. O. Box 7726 Charlottesville, Virginia 22906-7726 USA

The Darden Campaign in Support of Honor the Future, the Campaign for the University of Virginia

Pillars is published by the Darden School Foundation, a nonprofit organization that supports the Darden School by promoting philanthropic support from alumni, friends and corporations; managing endowment funds for the School’s exclusive benefit; and operating Darden’s top-ranked Executive Education & Lifelong Learning program, The Forum Hotel and Abbott Center hospitality.

Questions, comments and address changes should be directed to: advancement@darden.virginia.edu or Darden School Foundation Office of Advancement P.O. Box 7726 Charlottesville, Virginia 22906-7726 USA Deputy Vice President for Advancement Samantha Hartog Chief Marketing and Communications Officer Juliet K. Daum (TEP ’22) Editor David Buie-Moltz Writer David Buie-Moltz Copy Editor McGregor McCance Design Geoff Molinaro Photography Avi Gerver; Jennifer Grissom; Justin Ide; Amber Knecht; Sam Levitan; Jack Looney; Andrew Shurtleff; Sanjay Suchak