D CEO June/July 2024

JUNE /JULY 2 024

Taylor Shead has secured funding from venture capitalists and the Gates Foundation.

CEO

of The visionary behind the AI-powered ed-tech and workforce platform Stemuli has mastered the art of not putting limits on herself—or those around her.

WWW.DCEOMAGAZINE.COM WWW.DCEOMAGAZ IN E.COM

JUNE/JULY 2024

$7. 95

PLUS:

Claudia Mirza of Global Translation Force Akorbi

The State of Women Entrepreneurship in DFW

LEAD WITH PURPOSE. Building a new beginning requires careful planning, purposeful guidance, and a clear vision. Whitley Penn’s team of experienced advisors provide you with the knowledge and direction needed to navigate the path towards growing your business and building your purpose.

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We’re in the business of helping Texas business thrive.

Chad Burke President & CEO Economic Alliance Houston Port Region

Deborah Davenport Territory Management Specialist Texas Mutual Insurance Company

Building a better Texas starts with supporting Texas business.

That’s why we’ve put over $4 billion back into the state’s economy through dividends and community giving. We’re proud to partner with organizations like the Economic Alliance Houston Port Region.

Together, we’re supporting working Texans — today and tomorrow, developing the workforce of the future and helping to strengthen the Texas economy.

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Dividends are based on performance, are not guaranteed and must comply with Texas Department of Insurance regulations.

Centennial Celebration Year June 10, 2024 marks 100 years of scientific discovery and innovation.

For 100 years, the American Heart Association, along with our volunteers, supporters and collaborating organizations, has worked to build longer, healthier lives.

Our future is about improving yours.

JOIN US NorthTexas@Heart.org

The American Heart Association Proudly Recognizes our Second Century Campaign Supporters TRISHA AND RICK ALLEN AMERICAN HEART ASSOCIATION NATIONAL CENTER AT&T BAYLOR SCOTT & WHITE THE HEART HOSPITAL - PLANO THE THEODORE & BEULAH BEASLEY FOUNDATION BLUE CROSS BLUE SHIELD OF TEXAS BOUNDLESS NETWORK PATTI AND JOE BRAYTON CALIBER CHESMAR HOMES CMC DALLAS SOUTHWEST OSTEOPATHIC PHYSICIANS DELOITTE DENBURY INC. FORVIS, LLP GRANT THORNTON LLP HARRY S. MOSS HEART TRUST HAYNES AND BOONE, LLP LYDA HILL PHILANTHROPIES HF SINCLAIR IMPELSYS EILEEN AND CHRIS KENDALL

MCCARTHY BUILDING COMPANIES, INC. MEDICAL CITY METROCREST HOSPITAL AUTHORITY KELLY MITCHELL MOODY FOUNDATION JAMES E. AND EMMA LEE MUTRIE STACY AND DAVID NAHAS NCR VOYIX JAN L. OBERLENDER *FRED OBERLENDER ONCOR PARAGON HEALTHCARE DAVE AND KELLY PFEIL PICKLER UNIVERSE MARK AND JENNIFER SANDERS THE SHERWIN-WILLIAMS COMPANY DIANE AND DANIEL L. SHIMER TEXAS HEALTH RESOURCES STEVE TOPLETZ TOYOTA NORTH AMERICA TUESDAY MORNING SUSAN WETZEL AND JASON BALGOOYEN *IN MEMORIAM

Thank you to our Executive Volunteer Leadership DALLAS DIVISION BOARD OF DIRECTORS DALLAS BOARD CHAIR MARK SANDERS, RETIRED CEO OF CALIBER PRESIDENT DR. SANDEEP DAS, PROFESSOR OF INTERNAL MEDICINE, CARDIOLOGY, UT SOUTHWESTERN MEDICAL CENTER LEADERSHIP DEVELOPMENT CHAIR DOREEN GRIFFITH, OFFICE MANAGING PARTNER, DALLAS, GRANT THORNTON LLP – DALLAS 2023-2024 EVENT CHAIRS TRISHA AND RICK ALLEN, CÔTES DU COEUR CO-CHAIRS KATHLEEN AND SCOTT KIRBY, CÔTES DU COEUR OPEN YOUR HEART CHAIRS SUSAN WETZEL, GO RED FOR WOMEN CO-CHAIR STACY NAHAS, GO RED FOR WOMEN CO-CHAIR DARLENE ELLISON, CIRCLE OF RED CHAIR ELLIE HUFF, COLLIN COUNTY HEART FEST CHAIR DR. MARK CHASSAY, DALLAS HEART WALK CHAIR

Elevate. Empower. Lead.

Leadership isn't just about holding a title - it's about making a difference.

Over 50 million Girl Scout alums are leading with authenticity, empathy, and purpose.

Join us in building the leaders of the future.

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of northeast texas

Get involved as a volunteer or donate at gsnetx.org

November 1, 2024 11:30 a.m. to 1 p.m.

Omni Hotel | Dallas txwfluncheon.org

ts exas studen 200 North T

heon Annual Lunc attend 38th

Join Texas Women’s Foundation for another memorable, motivational Annual Luncheon experience, where we’ll bring together our community in support of women and girls across Texas.

Cynt Marshall moder ates a conversation with Olympic Gold Me dalist Allyson Felix

This inspirational event will feature a soon-to-be announced keynote speaker who will talk about their work as an advocate for social change. And, how you and your organization align with the movement to build inclusive communities where women can thrive.

Former Target Executive Laysha Ward moderates a conversation with journalist and editor Elaine Welteroth

vists with writer Ava Duvernay Filmmaker and Screen le Norris che Mi list Journa

Geochemist Dr. Hope Jahren

Emmy Award Winning

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Don’t miss this transformative moment!

Sponsor and event information to be announced soon at: txwfluncheon.org

THE MAVERICK FACTOR IGNITES

AMBITION At UTA, ambition is more than a goal to be met— it’s a journey of self-discovery and empowerment.

Under the leadership of Jennifer Cowley, UTA’s president and the first woman to hold the office, we’ve built a culture focused on mentorship, access to resources, and a commitment to lifting each other up so that every woman can take that journey.

Join us as we redefine what it means to be ambitious and unlock boundless opportunities for women in every field.

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Truist Bank, Member FDIC. © 2024 Truist Financial Corporation. TRUIST, the Truist logo and Truist Purple are service marks of Truist Financial Corporation.

TAKE HEART TAKE COMFORT TAKE CARE

Wherever your journey leads, there are a few things you should take along so you can always give your best.

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AGENDA

Seth Koschak, Forrest Cook, Steve Modory, Luke Davis

Brooke Hollis Hortenstine, Doug Deason, Piper Wyatt, Julie Sardisco

Steve Lieberman, Ran Holman

Commercial Real Estate Awards

Torrey Littlejohn, Ali Greenwood

Daniel Moon

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David Craig

Allison Johnston Frizzo

Geoff Ficke, Baron Aldrine, Rena Padachy, Andy Leatherman

Karla Smith, Melanie Maguire, Patti Sarvadi, Kaylyn Murray, Abbey Blessing

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P H OTO G R A P H Y BY B R E T R E D M A N

Sarah Hinkley Kennington, Steve Trese, Steve Berger, Reid Goetz

the region’s top industry leaders gathered at the Frontiers of Flight Museum to honor D CEO’s 2024 Commercial Real Estate Awards finalists and winners. Christine Perez, editor of D CEO, presented the awards alongside Managing Editor Ben Swanger and Bill Shaddock, owner and CEO of Capital Title. Jack Matthews, president of Matthews Southwest, was honored with this year’s Pioneer Award for sparking growth in the southern sector of downtown Dallas and for creating unique partnerships to lift others. An especially touching moment came when Cushman & Wakefield’s Michael Wyatt was posthumously honored with the first-ever Industry Impact Award. Doug Deason of Deason Capital Services joined in the tribute, as did Piper Wyatt, who accepted the award on her late husband’s behalf. Thank you to title sponsor Capital Title for their support of this program.

AGENDA

Hanna Howard, Chandra Matthews

Elizabeth Gassos, Laura Foran Berend, Lexie Okeke, Cristal Retana Lule, Amber Robinson

Daphney Fenelon Ford, Michelle Prudhomme-Coleman

2024 Emerging Women Leadership Network D CEO’s Emerging Women Leadership Network members and mentors recently gathered at Communities Foundation of Texas to celebrate the program’s inaugural year. The evening was filled with participants reflecting on their experiences, accomplishments, and lessons learned. The event featured a panel of mentors who discussed achieving a balance between career success and personal growth.

Congratulations to all members and thank you to all mentors who helped pioneer this outstanding program. Special thanks to our signature sponsors: Arcosa, BFS Advisory Group, and Improving for making it all possible.

Bianca Davis, Priya Murphy

Chelsea Lousignont, Crystal Wilkins, Rita Meno Price

Nicole Little, Lorelei Mewhirter

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2024 EWLN Members and Mentors

P H OTO G R A P H Y BY B R E T R E D M A N

Kathleen LaValle, Kristin McLaughlin

Layla Gulley, Maria Maldonado

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THE FINANCIAL EDUCATION

Revolution with The Wealth Woman

Revolution: a fundamental change in the way of thinking about or visualizing something: a change of paradigm.

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At Wealth Woman, Inc. we’ve made it our mission to provide women with the solid, factual, financial education they need to move closer to living their dream lives every day.

The Dallas Foundation welcomes

Julie Diaz

as our new President & CEO.

®

S

ince our founding in 1929, The Dallas Foundation has brought together people, ideas, and investments in Greater Dallas so that individuals and families can reach their full potential.

As we approach our 100th anniversary, our goal is to be the philanthropic partner of choice for this community, innovative and inspiring in our leadership on local issues.

You are an essential part of that vision and we invite you to partner with us so that everyone in Greater Dallas has access to a brighter future.

Together, we are Here for Good.

Web dallasfoundation.org LinkedIn /the-dallas-foundation Instagram @thedallasfoundation Facebook @dallasfoundation

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ASK THE EXPERT

Persuasion Skills: Apologies, Part III R O G G E D U N N , C EO, R O G G E D U N N G R O U P

Tailor the details and length of your apology to how heated and layered the situation is. If the parties are facing DEFCON 1, then your analysis and apology needs to be lengthier and more nuanced. I strongly favor apologies in person—next best is by Zoom or Facetime. Physical and visual signals and tone of voice are lost over the phone.

Physical Displays of Contrition The sincerity of the offender’s remorse is critical in obtaining forgiveness. As described in my article on body language in January/February 2024 D CEO, voice, facial expressions, and eye contact are powerful persuaders. These nonverbal signals are deep rooted and involuntary. You can, however, harness their powerful effect by incorporating them into the delivery of an apology. When recipients see you outwardly express remorse through tears or demonstrative body language, your message is more believable. Leaning back with slumped shoulders and your head slightly down conveys contrition. Compare that to the reception your apology will receive if you are pointing a finger, “bowing up,” or getting in someone’s face. What makes a good apology are the visual signals sent, not just the words spoken.

Matthew Hornsey, “Embodied Remorse: Physical Displays of Remorse Increase Positive Responses to Public Apologies, But Have Negligible Effects on Forgiveness,” Journal of Personality and Social Psychology, 2019.

Offended persons are looking for a promise of future behavior evidencing your commitment to address concerns and change your behavior. Alison Brooks, a Harvard Business School professor, teaches negotiation tactics. She studied parole hearing apologies. Her research determined that apologies accompanied by a commitment to good behavior in

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the future were more persuasive than apologies that explained or tried to justify the prisoner’s criminal behavior. An apology accompanied by explanation sounds like a hollow excuse. See my article “The Less Splainin’, the Better,” D CEO, October 2023.

Dealing with “There You Go Again” One obstacle to acceptance of an apology is the historical or emotional past baggage. The offended person often “throws in your face” perceived, or actual, past transgressions you committed. Resist the temptation to bat down this criticism as President Ronald Reagan did when he responded to an attack by quipping “there you go again.” Instead, respond “I know and admit I’ve made mistakes in the past.

I’ve resolved to do much better in the future.” If the offended person keeps dredging up past errors, gently suggest that both of you are better off focusing on the future. The value of focusing on the future is why the phrase, “I don’t want to look in the rearview mirror; I’m focused on the way forward and the road ahead” has become a cliché. See Susanna Newsonen, “Stop Looking in the Rearview Mirror,” Psychology Today, June 13, 2022.

An apology is only a starting point; initiate the next step in moving towards reconciliation. “On Apology,” Dr. Aaron Lazare’s book, is a great resource.

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ROGGE DUNN represents companies, executives, financial advisors, and entrepreneurs in business and employment matters.

Clients include the CEOs of American Airlines, Baker Hughes, Beck Group, Blucora, Crow Holdings, Dave & Busters, Gold’s Gym, FedEx, HKS, Texas Motor Speedway, Texas Capital Bancshares, and Texas Tech University, and sports figures like New York Mets manager Buck Showalter, NBA executive Donnie Nelson, and NBA Hall of Fame coach Larry Brown.

Dunn’s corporate clients include Adecco, Beal Bank, Benihana, Cawley Partners, Match.com, Rent-A-Center, and Outback Steakhouse.

In 2021, 2022, 2023 and 2024 Dunn was included in D CEO Magazine’s Dallas 500 list, which recognizes the most influential business leaders in North Texas.

He has been named a Texas Super Lawyer every year that award has been given and recognized as one of the top 100 attorneys in Texas by Texas Monthly (a Thomson Reuters service) and a D Magazine Best Lawyer 15 times.

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Uncharted paths. Boundless possibilities.

NAV IG ATE THE FUTU RE WITH US. We have a vision to create a world where everyone can move freely. At the forefront of this movement are inspiring women, driving us forward with their unique perspectives and groundbreaking ideas.

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CONTENTS J U N E /J U LY 2 0 2 4

VO LU M E 1 9 | I S S U E 0 5

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The Education of Taylor Shead The visionary behind the AIpowered ed-tech and workforce platform Stemuli, Taylor Shead has mastered the art of not putting restrictions on herself—or those around her. story by AUDREY HENVEY

P H OTO G R A P H Y O F T R E V O R P A U L H U S

photography by SEAN BERRY

48 Claudia Mirza’s Akorbi has translated more than 45 billion words and is one of the largest womenowned language service providers in the world.

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A Way Wtih Words Job loss and a chance encounter led Colombia native Claudia Mirza to co-found what’s now a global translation powerhouse, Akorbi. story by HILARY LAU photography by TREVOR PAULHUS

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CONTENTS

22 EDITOR’S NOTE

DOSSIER 29 THE LAND OF OPPORTUNITY

34 MEET THE 500

Michele Shibuya, Mohr Partners 3 4 L O C A L LY S O U R C E D

Janie Cook and Caroline Nix, Oventure 3 6 F O O D A N D B E V E R AG E

Susan Sarich, SusieCakes 3 8 C O N V E R S AT I O N W I T H

64

66

36 F O O D A N D B E V E R AG E S U S I E C A K E S ; E D U C AT I O N U P L I F T E D U C A T I O N ; A R T O F S T Y L E S E A N B E R R Y ; S N A P S H OT A M Y S T E W A R T ; W E L L T R AV E L E D A N D A Z C O S T A R I C A R E S O R T

North Texas is one of the best places in the country for women to launch and run their own enterprises. Our comprehensive guide looks at DFW innovators, emerging leaders, big exits, challenges, and more.

Kate Rose Marquez, Ascend Dallas 4 0 E D U C AT I O N

Yasmin Bhatia, Uplift Education

FIELD NOTES 55 LEADING OFF

Courtney Tawresey, Polsinelli 5 6 R E A L E S TAT E

Meet three women leaders who are writing the next chapter for their family businesses— and for the construction industry.

58 ON TOPIC

Tatiana Chomorro of Toucan Cocktails, Cheri Garcia of Cornbread Hustle, and Amy Power of The Power Group share the one thing they’d change about the North Texas business environment.

OFF DUTY 61 ART OF STYLE

Caren Lock, TIAA 62 PURSUITS

Lori Ryerkerk, Celanese Corp.

64 SNAPSHOT

Amy Stewart, Stewart Law Group 64 EMBARRASSING MOMENTS

We asked execs to share some mortifying experiences they’d rather forget.

Gretchen Frary Seay, Clearsight Advisors

61 020

Taylor Shead has secured funding from venture capitalists and the Gates Foundation.

CEO

6 6 W E L L T R AV E L E D : P E N I N S U L A PA PA G AYO , C O S TA R I C A

40 of

The visionary behind the AI-powered ed-tech and workforce platform Stemuli has mastered the art of not putting limits on herself—or those around her.

PLUS:

Claudia Mirza of Global Translation Force Akorbi

The State of Women Entrepreneurship in DFW

68 ROOTS

Jihane Boury, Savills 84 END MARK

St. Mary’s College at Dallas

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ON THE COVER:

Stemuli’s Taylor Shead, photographed at Hôtel Swexan by Sean Berry.

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LETTER FROM THE EDITOR

Sisters Are Doing It For Themselves

CongratulationsFrannie!

Gardner Wallace Financial Solutions GardnerWallace.com 972-833-2565 YourTeam@GardnerWallace.com

Certain appropriately licensed individuals of Gardner Wallace are registered to offer securities through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC and/or investment advisory services through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Neither Kestra IS nor Kestra AS are affiliated with Gardner Wallace. Investor Disclosures: https://www.kestrafinancial.com/disclosures

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P H OTO G R A P H Y BY E L I Z A B E T H L A V I N

Frannie Gardner Managing Partner Gardner Wallace Financial Solutions

last month, wells fargo shared some research from a new national study that looks at the economic clout and impact of womenowned businesses. The study ranked North Texas as the No. 2 market for women-owned enterprises in the country. No other Texas metro made the top 10.

D CEO editors decided to dig deeper into the topic; our special report begins on page 29. In it, we feature perspectives from established entrepreneurs like Mahisha Dellinger, a former Intel exec who launched the natural haircare company CURLS. We also write about two women in their 20s who are running their own companies.

Managing Editor Ben Swanger talked with two of the region’s most successful women business owners—Jamie O’Banion of Beauty Bio and Merrilee Kick of BuzzBallz—both of whom recently sold their flourishing enterprises. Associate Editor Audrey Henvey interviewed three women who “got off the hamster wheel” and left careers at large corporations to pursue their entrepreneurial dreams.

Senior Editor Will Maddox brought the package together with an overarching story that pulls in the data and examines the region’s history in supporting women business owners—from Sarah Cockrell to Mary Kay Ash—to where things stand today. He found that although North Texas and the rest of the country still fall woefully short when it comes to gender equity in the corporate C-suite—Lori Ryerkerk of Celanese is the region’s lone female CEO at the helm of a Fortune 500 company—it provides a rich environment for entrepreneurial growth. (Note: See more on Ryerkerk on page 62.)

This issue of D CEO is filled with women who provide real-life examples behind the Wells Fargo research, including feature stories on innovators Taylor Shead of Stemuli and Claudia Mirza of Akorbi. They show why, like Aretha Franklin and the Eurythmics used to sing, more “sisters are doing it for themselves.” Enjoy.

Christine Perez Editor

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PROUDLY SUPPORTING WOMEN IN BUSINESS PlainsCapital Bank proudly celebrates the women entrepreneurs and leaders who are shaping the future of business in Dallas.

We are committed to empowering women-owned and -run businesses by providing the financial support they need to succeed.

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© 2024 PlainsCapital Bank. Member FDIC. PCB1259016355

P U B L I S H E R Noelle LeVeaux EDITORIAL

EDITOR Christine Perez MANAGING EDITOR Ben Swanger SENIOR EDITOR Will Maddox ASSOCIATE EDITOR Audrey Henvey ASSISTANT EDITOR Layten Praytor CONTRIBUTING WRITERS Richard Alm, W. Michael Cox, Hilary Lau EDITORIAL INTERNS Celie Price, Bridget Reis

ART

DESIGN DIRECTOR Hamilton Hedrick STAFF PHOTOGRAPHER Elizabeth Lavin

A DV E R T I S I N G

SALES MANAGER Rachel Gill ADVERTISING DIRECTOR Rhett Taylor SENIOR ACCOUNT EXECUTIVES Cami Burke, Haley Muse MANAGING EDITOR OF SPECIAL SECTIONS Jennifer Sander Hayes DIGITAL SALES COORDINATOR Olivia Booth CLIENT OPERATIONS COORDINATOR Julianne Emeterio

MARKETING & EVENTS

MARKETING DIRECTOR Madeline Alford MARKETING MANAGER Natalie Swaim ADVERTISING ART DIRECTOR Katie Garza ASSOCIATE ADVERTISING ART DIRECTOR Andrea Chavez EVENTS PRODUCER Kevin Morgan EVENTS COORDINATOR Breanna Furrow SPECIAL PROJECTS ASSISTANT Jordan Radasch

AU D I E N C E D E V E LO P M E N T A N D B RA N D AUDIENCE DEVELOPMENT COORDINATOR Emma Barretto EDITORIAL PROGRAMS MANAGER Sarah Masquelier Risi SPECIAL PROGRAMS COORDINATOR Betty Burns SENIOR GRAPHIC DESIGNER Anita Moti RETAIL STRATEGY MANAGER Steve Crabb MERCHANDISER David Truesdell OPERATIONS ASSISTANT Macey Pieterse

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DIRECTOR John Gay PRODUCTION MANAGER Grace John PHOTO RETOUCHER Jasmine Green PRODUCTION INTERN Alexa May

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CONTROLLER Sabrina LaTorre SENIOR ACCOUNTANT Debbie Travis SENIOR STAFF ACCOUNTANT Randall Rasor ACCOUNTS RECEIVABLE COORDINATOR Jessica Hernandez AP SPECIALIST Ron Dewey EMPLOYEE ENGAGEMENT DIRECTOR Patricia Martin IT TECHNICIAN Luan Aliji OFFICE MANAGER Will Smith ADMINISTRATIVE COORDINATOR Nikhael Virden HOW TO REACH US MAIL 750 N. Saint Paul St., Ste. 2100, Dallas, TX 75201 MAIN OFFICE 214-939-3636 WEBSITE www.dmagazine.com/dceo The magazine assumes no responsibility for the return of unsolicited manuscripts.

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LEADERSHIP SPOTLIGHT

How industry-leading hospitals in Dallas-Fort Worth are positively impacting the patient experience.

S E N D E R O C O N S U LT I N G , C O C K TA I L S A N D C O N V E R S AT I O N

Sendero Consulting hosted Cocktails and Conversation, a thought-leadership event drawing healthcare leaders from throughout Dallas-Fort Worth to discuss the patient experience in healthcare. Underlying processes impact the patient experience, and it’s important to look at the whole system to make meaningful improvements.

The event was moderated by Vishal Ahuja, SMU Cox School of Business healthcare leadership development initiative academic director, associate professor of information technology and operations management and adjunct faculty at UT Southwestern Medical Center. Featured panelists were Dr. Kavita Bhavan, MHS, chief innovation officer at Parkland Health; Dr. Brett D. Stauffer, MHS, FHM, chief quality officer at Baylor Scott & White; and Dr. Sarah Way, chief quality and medical officer at Texas Health Presbyterian Hospital Dallas.

About From scheduling and wayfinding to empathy and connection, to information accessibility and good communication, the patient experience can be complex. Delivering a satisfactory experience is a challenge, and it requires emotional intelligence and technology in addition to quality medical care. The stakes—improved clinical outcomes, lower costs, greater patient safety, and reduced malpractice risk.

Connection “People come to us when they are vulnerable and sick. A key part of a good patient experience is to address issues of trust, dignity, and respect,” says Dr. Bhavan. “To do that, you have to connect on a personal level. But how can that be scaled across a complex system?”

According to Dr. Way, there is a solution: “Texas Health has an ongoing initiative to train everyone

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who walks into a patient’s room to let them know they are checking on them in some way. And, we’ve found that patients who have been checked on every hour have higher levels of satisfaction because of the connection.”

Technology in Service of Humanity While this personal connection may happen during a patient visit, impacting the patient experience begins well before the doctor visits the patient’s hospital room.

“The tech stack matters,” adds Dr. Stauffer. “Accessing health records through an app, integrating health records from other systems, and texting appointment reminders make a huge difference in the quality and safety of care, not to mention appointment show rates.”

Adds Dr. Way, “That efficiency and access to information builds trust between the patient and the healthcare system. When people have trust, they make better decisions about their own health, such as keeping preventive medicine appointments.”

Empathy begins with Leadership Empathy goes a long way, and health systems need to create space for everyone—from clinicians to staff to leadership—to practice it. Beyond that, it’s critical that leaders at all levels of the organization model empathy and create an environment that supports a culture of care.

Says Dr. Ahuja, “I get asked, ‘How can I teach empathy and leadership to residents knowing it is material to the patient experience?’”

Dr. Bhavan responds, “It comes from a shared purpose, the culture within a workplace, and behaviors that are demonstrated and talked about by senior leaders every day.”

DR. KAVITA BHAVAN, MHS Chief Innovation Officer Parkland Health

DR. BRETT D. STAUFFER, MHS, FHM Chief Quality Officer Baylor Scott & White

DR. SARAH WAY Chief Quality and Medical Officer Texas Health Presbyterian Hospital Dallas

VISHAL AHUJA, PH.D. Healthcare Leadership Development Initiative Academic Director SMU Cox School of Business

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the #1 children’s hospital in North Texas With unparalleled access to groundbreaking research, the latest clinical trials and academic expertise, Children’s Health provides nationally ranked care close to home. Our success is because exceptional leaders and expert health care professionals all work together to accomplish the incredible.

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DOSSIER TRENDS

TO

WATC H

A N D

NORTH TEXAS NEWSMAKERS

WOMEN’S ENTREPRENEURSHIP

The Land of Opportunity PHOTOG R APHY BY MA AHOO

North Texas is one of the best places in the country for women to launch and run their own enterprises. Our comprehensive guide looks at DFW innovators, emerging leaders, big exits, challenges, and more.

stories by AUDREY HENVEY, WILL MADDOX, CHRISTINE PEREZ, LAYTEN PRAYTOR, CELIE PRICE, BRIDGET REIS, and BEN SWANGER

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Women have played an essential role in the economic growth of North Texas from the start. Sarah Horton Cockrell, considered Dallas’ first businesswoman, built the first iron bridge across the Trinity River in 1872.

Entrepreneurs like Ebby Halliday and Mary Kay Ash enhanced the legacy, and today, powerhouses like Celanese’s Lori Ryerkerk are carrying the baton. still, in a land that’s filled with corporate giants, Ryerkerk is the region’s lone female CEO at the helm of a Fortune 500 company. Where DFW shines is in its support of women-owned businesses. Wells Fargo recently named the region the nation’s No. 2 metro area for female entrepreneurs due to its strong local economy, supplier diversity programs, training opportunities, women’s business centers, and capital support.

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“Dallas-Fort Worth showcases a balanced growth profile for women-owned businesses,” the report said. “The rank in growth of women-owned firms coupled with top-five positions in employment growth and the share in the number of women-owned businesses suggest the region is a hub for women-owned firms.”

The pandemic had a transformative impact on female entrepreneurship in North Texas— and across the country—as life reevaluation pushed many women to start their own companies. Despite the economic shock of Covid-19, women launched more enterprises in 2020 than they closed, and women-owned businesses grew their workforces and increased revenue, while comparative numbers for companies owned by men decreased.

On the verge of passing Chicago as the third-largest metro area in the country, North Texas remains a great place to launch an idea.

It’s a place where aspiring entrepreneurs can connect with corporate leaders or funders who have the power to change the fortunes of their enterprises. “Dallas is still a big, small city,” says Jennifer Sanders, executive director and co-founder of the Dallas Innovation Alliance.

“People who would be hard to meet in other places are very friendly and welcoming here.”

That collaborative environment extends to mentorship, and women business leaders are increasingly positioned to help bring the next generation along. Sanders says the innovation community has been especially supportive and collaborative. Connecting with resources is much easier with a guide. “Entrepreneurship is hard, but we have created a wonderful ecosystem and strong formal and informal communities,” Sanders says.

An especially bright point in DFW’s strong entrepreneurial market is the gain in the number of Hispanic female entrepreneurs. Among Texas’ 1.4 million women-owned businesses, Hispanic owners are the fastest-growing demographic. “Despite all the challenges that women of color face, we still see the continued growth of Latina entrepreneurs,” says Latosha Herron Bruff, senior vice president of diversity, inclusion, and community engagement at the Dallas Regional Chamber.

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P H O T O G R A P H Y B Y J I A C H U A N L I U ; I L L U S T R AT I O N S B Y I VA N H A I D U T S K I ; H E A D S H O T S C O U R T E S Y O F C O M PA N I E S

WOMEN’S ENTREPRENEURSHIP

ENTREPRENEUR

SPOTLIGHT

Jasmin Brand, founder of the women’s entrepreneur network HER Texas, also notes the growth of Hispanic women-owned businesses, as well as the need for more resources and skill-building opportunities. Her organization now spans 73 cities in Texas and has more than 26,000 members and supporters.

‘WE ARE THE BANK’

L AU R E N MCMINN

Aiming to improve waste management practices, Lauren McMinn founded composting company Turn in 2018. The enterprise operates on a subscriptionbased model, offering residential and business customers weekly pick-up services for their food scraps. Turn serves more than 1,000 customers. “A primary emphasis for me is turning dead urban spaces into living green spaces,” she says. “I would love to see more women working in eco-friendly-driven companies.”

—Bridget Reis

Brand aims to respond to the need for a virtual network for those outside major metropolitan areas. The state is ripe for opportunity. The Wells Fargo study ranks Texas No. 8 nationally due to its strong economy, growing population, diverse workforce, and services tailored to meet the needs of female entrepreneurs.

“The state’s women-owned businesses significantly influence the economy,” the report said.

“Ranking third in share of women-owned firms, second in employment, and second in revenue share, Texas highlights the vast presence and impact of women-owned businesses.”

For her part, Brand’s strategy has been to “sneak broccoli in the brownies” and make sure women entrepreneurs are building their network and skillset while enjoying themselves at HER Texas social gatherings. “Our events look fun, but underneath the surface, there is a very powerful movement of economic empowerment with a more aggressive approach,” she says.

That forward-thinking outlook is reflected in several incubators and business development continued on page 032

EMERGING LEADERS

After cutting gluten from her diet, 22-year-old Addison Labonte founded e-commerce, gluten-free cookie company Sweet Addison’s. “People have underestimated this business,” she says. “They say, ‘Oh, that’s a cute idea,’ or ‘Oh, that must be so fun.’ This business has shipped to almost every state and has only been in business for a few months. Someday, they’ll say, ‘I knew her back when I thought this was just a little hobby.’”—Celie Price

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The Big Exit Jamie O’Banion and Merrilee Kick sold the flourishing brands they founded. Here’s why—and what’s next.

Just before the pandemic, Merrilee Kick, founder and CEO of BuzzBallz, put her company up for sale. After four years, Sazerac, the largest privately owned alcohol company in the U.S., emerged as the buyer. “I told them, ‘We plan to grow by 50 percent this year,’” Kick says. “They countered with, ‘We think we could grow you by four times that.’” Kick was sold.

After the acquisition closes, she will stay on with BuzzBallz as CEO for the next four years. Another successful entrepreneur, Jamie O’Banion, founder and CEO of skincare giant BeautyBio, sold her company to Rhyz Inc., the investment arm of publicly traded Nu Skin Enterpris-

es, for the simple reason that it would have been “selfish to continue to hold on,” she says. “We had grown to a spot where we were in more than 10,000 stores, but having a massive R&D team and access to massive manufacturing facilities would increase our speed to market.” For entrepreneurs who plan to sell, Kick advises owners to decide between a private equity sale or a strategic sale. “PE is in it to make money and sell your business five years later,” she says. “Strategic buyers want to buy you because you fill a needed area where they are weak.”

What’s next for the leaders? O’Banion’s chief passion is mentoring young entrepreneurs and helping them build their brands.

“I feel I was just in those shoes yesterday,” she says. Kick wants to travel the world. She wants to write a book—and maybe some screenplays. After that, perhaps it will be time to “develop more fun, innovative products,” she says. —Ben Swanger

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Taking the Leap After climbing the ladder, more women execs are leaving corporate careers to pursue their entrepreneurial dreams.

In 2016, Emiliy Shack Wickard was offered a severance package amid a corporate restructuring at Flowserve. She was on the verge of rejecting it but had a moment of clarity.

“I said to myself, ‘If I don’t get off this hamster wheel now, I may never have another opportunity.’”

With an affinity for fashion, she opened online boutique Avara. A brickand-mortar store followed, as did a private label.

Shack Wickard is among a throng of women leaving the corporate world to leap into entrepreneurship. Research shows that nearly half of all businesses founded in the pandemic were launched by women, compared to 29 percent in 2019.

After a career in HR at Quaker Oats, Frito-Lay,

translated it into a small business format,” she says.

For Lisa Ong, two days after she concluded a 30year career at PwC, she opened DEI strategy and leadership consultancy Wishing Out Loud. Many of her clients now talk with her about pursuing entrepreneurship. “I always caution them to make sure that they’re building to their ‘why,’” Ong says. “Many people who leave corporate don’t have a good game plan.

They have the passion, but they haven’t done the preparation. I’m always cautioning people to look at the transferable skills they’ve gained and to build their network.”

—Audrey Henvey

programs throughout North Texas. At premier retail destination Legacy West in Plano, Rachel Chang leads the Legacy West Small Business Cohort, which isn’t limited to women entrepreneurs but has more than 90 percent women founders, a testament to the robust business environment for female entrepreneurs. Launched three years ago, the cohort selects a dozen businesses yearly for networking and training in branding, real estate negotiation, business planning, and more.

“I’m really encouraged with the state of women entrepreneurship in DFW,” Chang says. “The appetite for entrepreneurship is motivated by barriers and the gender pay gap.”

Despite the positive trends, a significant imbalance still exists. Women own nearly 40 percent of U.S. businesses but generated just 5.8 percent of firm revenue in 2023. Just 8 percent of companies in the S&P 500 are led by women entrepreneurs, and last year, women CEOs finally outnumbered CEOs named John.

Women still receive less than 2 percent of venture capital funding, and financial support continues to be a hurdle in scaling women-owned businesses. Brand, of HER Texas, is pushing to shift the funding role into the hands of female entrepreneurs, considering that women will control 75 percent of discretionary spending by 2028, she says. Her organization’s members and supporters raise funds for a giving circle meant to lift other female business owners. “We want to empower women to have an active role,” Brand says. “We are the bank.”—Will Maddox

ENTREPRENEUR

SPOTLIGHT

MAHISHA D E LLI N G E R

Mahisha Dellinger founded CURLS to fill a gap in the market for natural hair care products for women of color.

It’s now an estimated $20 million haircare business in 100,000 stores. Recently, Ulta Beauty began carrying the brand.

“The acquisition of a new customer base and the acceptance of natural hair has me very excited,” she says. She also is expanding into other consumer product lines. In early 2024, Dellinger launched a line of healthconscious, nonalcoholic carbonated beverages called Huzzy Smart Sips.

—Celie Price

and Yum! Brands, Karen White gave it up in 2017 to launch home accessories business Oasis Accents.

Corporate experience with cross-functional teams taught White about how a company operates. “I just

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EMERGING LEADERS

An espresso martini fan, 29-year-old Nicole Craven wanted to find a way to can the drink. So, in 2021, she co-founded Après Hours and secured distribution with major retailers in the first year. “People look at a woman who is young as a challenge,” she says. “I think it equips us to have an edge—especially in hospitality and F&B, where things have been done the same way for so long. It gives me a unique perspective.” perspective.”—Layten Praytor

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MEET THE 500

L O C A L LY S O U R C E D

MICHELE SHIBUYA

Ending the Lost Key Conundrum

COO M O H R PA R T N E R S

after joining her husband, robert, in buying tenant representation powerhouse Mohr Partners in 2017, Michele Shibuya took on various roles across multiple departments to gain a well-rounded understanding of the business. “It taught me the value of adaptability, teamwork, and embracing new challenges,” she says. Her prep work led to her being named chief operating officer last year. She now oversees human resources, information technology, legal and risk management, marketing, and corporate communications. Shibuya is credited with having played a key role in the company’s evolution from a full-service U.S. firm into one that advises an international array of clients. Earlier this year, Mohr Partners further entrenched its status by forming a partnership with Canadian commercial real estate firm CDNGlobal.

EDUCATION: University of Southern California (BA) FIRST JOB: “I worked the late shift in an inbound call center taking orders for commercial advertisements and learned that people don’t make optimal purchases in the middle of the night.”

BEST ADVICE: “Anticipate. Be constantly looking forward and not back.”

HOBBY/PASSION: “My favorite activity is traveling or planning travel to new places with my lifelong girlfriends.”

DESTINATION OF CHOICE: “I love returning to my childhood home in Maui.”

DINNER PARTY: “If I could have dinner with any two local execs,

I’d choose Craig Hall because entrepreneurs of his caliber are rare and Fred Perpall because I love his story and balance of life.”

INDUSTRY CHANGE: “I’m proud of our work to make commercial real estate more diverse and inclusive.”

KEY STRATEGIES: “Don’t say no to people’s ideas. Listen to your employees and clients.”

GUILTY PLEASURE: “Overindulging in the candy in my office” FUN FACT: “On a recent trip with my girlfriends, I beat them all at a monkey bars obstacle course.”

MUST-READ: “I just finished Jim Lowry’s Change Agent. Jim is an inspirational leader who is changing the

economic landscape for minorities.”

PIVOTAL MOMENT: “When Bob and I bought Mohr Partners and moved to Texas from California, It reaffirmed that unexpected turns can lead to rewarding outcomes.”

LOCAL FARE “My go-to is Le Bilboquet’s Cajun chicken.”

SPIRIT ANIMAL: “A hummingbird because it is always moving, compact in size, and relentless in its mission.”

WALK-UP SONG: “I’d choose ‘Jump’ by Van Halen. It’s a reminder of my Pasadena roots, it’s upbeat and motivating, and it symbolizes success and taking chances—all qualities I want to bring each and every day into my work life.”

I COLLECT: “I collect hotel pens from all the places I travel to.”

ALTERNATE REALITY: “I like to be on job sites and build structures, so if I weren’t in my current career, I would probably become a developer.”

FUTURE FORECAST: “I’m keeping an eye on the possibilities of the integration of generative artificial intelligence.”

VARIETY IS KEY

In addition to its signature key ring, Oventure makes crossbody phone holders, bracelet bags, and more.

This Q&A is extended content from Dallas 500, a special edition produced by D CEO that profiles the region’s most influential business leaders. Visit www.dallas500.com for details.

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young moms janie cook and Caroline Nix were routinely frustrated by losing their keys. So, in 2012, the two friends began brainstorming ways to make it easier for women to carry their everyday items.

In the end, they transformed the traditional mini metal key ring into a fashionable, supersized Big O key ring made of silicon, leather, or resin material. The duo launched Oventure from their homes and quickly scored placement in boutiques and, a year after launching, they kicked off e-commerce sales. The following year, the Big O was named one of Oprah’s Favorite Things. Today, the spiffy bracelets come in more than 120 colors and the company has sold more than 1 million key rings.

“We are proud of our city and proud to be a Dallas brand,” Cook says.

“Dallas women are tastemakers,” Nix adds, “and business owners here are dynamic. Without that combination, Oventure would not be where it is today.”—Celie Price

M E R R I S BY J A K E M E Y E R S ; LO C A L LY S O U R C E D C O U R T E S Y O F O V E N T U R E

Local moms turned an age-old problem into multimillion-dollar accessory brand Oventure.

Fueling our clients’ success With Bank of Texas, Empire Baking Company found not just a financial services provider—but an ally to help them grow.

For more than 100 years, we’ve worked with local businesses, international corporations, committed nonprofits and everyone in between, helping them manage operations, grow and expand when the time is right.

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FOOD + BEVERAGE

story by

LAYTEN PRAYTOR

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growing up in chicago, susan sarich spent many childhood afternoons in the family kitchen. It was there where her grandmothers, Mildred and Madeline, taught her how to bake using recipes they had jotted down over the years on 3-by-5 index cards. Sarich enjoyed baking so much she decided to try to make a business out of it. When she launched SusieCakes in 2006, the concept was straightforward: Use simple ingredients to produce high-quality baked goods by following the recipes on those index cards. She also wanted to create sustainable food and beverage opportunities for women. “I wanted to build a business where women could have careers without having to work long shifts and be away from their families during the holidays,” she says. Today, about 80 percent of SusieCakes’ employees are women—including all local bakery general managers.

Prior to founding SusieCakes, Sarich spent more than two decades in hospitality. She also founded a bistro in Portland—but she longed to get back to those index cards.

“While in California, I noticed the desserts were overly composed,” she says. “They were also like half a bite. I just wished I could find a restaurant where they served good, old-fashioned Midwestern desserts.”

So, Sarich did it herself—with help from her parents; they took out a second mortgage, and her father cashed out his retirement fund for the bakery’s launch. “From day one, people knew what we were trying to do,” Sarich says. “It brought people back to their childhoods.”

The first SusieCakes bakery opened in L.A. and quickly grew a fan base that included celebs like Reese Witherspoon and Jennifer Garner. The brand expanded to Texas in 2016, and Sarich, who now lives in Dallas full time, relocated the company’s headquarters here in early 2022.

Today, SusieCakes has 26 bakeries across California, Texas, and Tennessee, and is planning for more. Through it all, Sarich holds true to her initial business plan, which includes a commitment to being a good neighbor. Following through, SusieCakes has donated more than $4 million in baked goods. “One of our core values is remembering where we CAKE CRAVINGS came from,” Sarich says. “For me, it’s SusieCakes recently launched about humility. I know how hard it was national shipping to make its cakes to open that first door, but sometimes available across people forget how they started.” the country.

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P H OTO G R A P H Y C O U R T E S Y O F S U S I E C A K E S

Susan Sarich launched her popular, national bakery, SusieCakes, with her grandmothers’ recipes and her father’s retirement fund.

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C O N V E R S AT I O N W I T H

Kate Rose Marquez Is Taking Ascend to New Heights The CEO of the nonprofit formerly known as WiNGS has reinvigorated the 116-year-old organization.

story by CHRISTINE PEREZ illustration by JAKE MEYERS

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k ate rose marquez grew up as the youngest of six children in South Bend, Indiana. The family lived about a mile away from Notre Dame, where her father, Jim Murphy, led public relations and fundraising efforts for the school, working out of the university’s iconic golden-domed Main Building. For Marquez, Notre Dame was an idyllic childhood playground. “I can tell you some of the best hide-and-seek places on campus,” she says. “I would ride my banana-seat bike around, learned to swim in the lakes, and took classical lessons for eight years in the music department.”

Today, Marquez is CEO of Ascend Dallas, an influential community organization that until April was known as WiNGS. It launched in 1908 as the YWCA. It’s no surprise that her career path eventually led to nonprofit leadership. Marquez got her start working at her father’s fundraising events when she was in the fifth grade. But her meandering career path started with journalism. Her father, who worked as a television news producer before joining Notre Dame, oversaw the school’s Ave Maria Press, a publishing arm formed in 1865.

She and her parents and siblings avidly consumed the news, with multiple newspapers landing in the front yard every morning and PBS NewsHour often playing on the television at night. “It’s what dictated our table conversations at dinner,” Marquez says.

After earning a B.A. in American history and English (Notre Dame did not offer a journalism degree at the time), she worked as a television producer and radio broadcaster for NBC affiliates in South Bend. She moved to Dallas in 1989 and ran her own communications firm, before working at what’s now Cumulus Radio and DDB Need-

ham Worldwide. A chance meeting ultimately led to her becoming VP of marketing at the Dallas Morning News, where she had a $13.7 million budget and a team of more than 30. The entrepreneurial bug bit again in 2001, and after developing branding and cause marketing initiatives for corporations and nonprofits for 17 years, she took over marketing and development for Society of St. Vincent de Paul of North Texas.

These myriad but aligned experiences made her the ideal choice to lead Ascend as CEO, a post she has held since January 2020. She hit the ground running and developed a new threeyear strategic plan. Every single milestone was achieved within 18 months. The organization’s budget increased by 84 percent. In the past year, the number of clients served has grown by nearly 40 percent, and Marquez expects an additional 27 percent in growth by the end of this fiscal year.

After a century as YWCA Dallas, the organization “uncoupled” from its national affiliate and rebranded as WiNGS, an acronym for Women in Need of Generous Support. But the name never quite fit with the organization’s mission, which focuses on empowerment—women helping women overcome poverty by taking charge of their futures and being supported with financial, skill-building, and community and parenting resources.

“It’s really inspiring, what all these women have gone through and achieved,” Marquez says.

“The rebrand ties it to the outcomes. It has been positively received and celebrated by our clients.

They feel an emotional connection and pride with the name as it describes their trajectory and their families’ future generations.”

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E D U C AT I O N

story by

WILL MADDOX

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while working as a consultant for mckinsey, yasmin bhatia always raised her hand when the opportunity came up for pro-bono work. After earning an MBA from Stanford University, she decided to change course and work for a social impact organization. A two-hour conversation with the outgoing CEO of Uplift Education and a visit to one of its sites helped her fall in love with the group, which runs a network of public, tuition-free charter schools across the region.

Though it is rare in the world of education for the top executive at a school district to have never served in the classroom, Bhatia’s background equipped her to excel in leadership but she didn’t pretend to be anything she wasn’t.

She leaned on experienced educators to help guide the instructional direction of Uplift Education in the early days.

“We use data to guide decisions, inspire innovation, and be creative for the betterment of kids,” Bhatia says. “As an ex-consultant, it’s in my DNA to be a learner, so it was about how I honor the expertise and put in systems to scale.”

Uplift Education has experienced significant growth since Bhatia joined in 2009. Back then, there were just 15 schools. Today, 45 primary, middle, and high schools are on 21 campuses across DFW, educating 23,000 students.

In a network where 82 percent of students are economically disadvantaged, 100 percent have been accepted to college. More than 50 percent of them earn college degrees, four times the national average for similar peers.

Bhatia is also proud of how Uplift supports students’ mental health. Each campus has support specialists to address developmental gaps and equip students to learn and interact with peers, a challenge often left to teachers.

Bhatia’s diverse background serves her well, too. Her mother was a farm girl from Indiana, and her father was an Indian man who worked hard to be able to live in the United States. Bhatia says that her father’s challenges, which are similar to those faced by many Uplift students, makes her role even more LIFTING SPIRIT meaningful. “He was an example in our Yasmin Bhatia’s passion for social family about how high-quality educaimpact took her from McKinsey tion can empower,” she says. “My dad is & Co. to public an Uplift kid.” education.

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P H OTO G R A P H Y C O U R T E S Y O F U P L I F T E D U C A T I O N

Yasmin Bhatia embraces the mindset of a lifelong learner on her mission to change students’ lives with Uplift Education.

portraits by

SEAN BERRY

Education of Taylor Shead story by AUDREY

HENVEY

The driving force behind the AI-powered ed tech and workforce platform Stemuli, Taylor Shead has mastered the art of not putting limits on herself—or those around her.

Taylor Shead operates in the parallels between the scientific method and the entrepreneurial spirit.

on

I

There were more realizations to come. After years of SAT prep and AP courses to prepare for a pre-med route, Shead was confronted by college chemistry; math wasn’t her forte, and she had a high school teacher who hadn’t effectively taught the concepts she needed to learn. Upon reflection, Shead saw in herself someone who grew up in the best schools in the state with dreams that were supported by her parents, yet she was someone who still wasn’t set up for success. If she was in this position, she wondered, what about the people she knew who didn’t have the best resources?

Other pressures began to mount. Experiences with anxiety, the stresses of being a high-level athlete, and the feeling that she didn’t have the skills to continue down the career path she wanted twisted together and led to her skipping classes. “And there’s one thing that happens when you stop going to class,” Shead says, “you definitely fail that class—that is a guarantee.”

Shead remembers the moment her coach told her that her scholarship had been revoked. She remembers that she had options to play elsewhere. But merely playing somewhere else wasn’t the right thing to do, she believed. “I had the thought of, ‘I need to do something big enough so when people look back on the life of Taylor Shead,

IT TAKES TAYLOR SHEAD NINE WORDS to thread a connection between the scientific method and the entrepreneurial spirit. “In the sciences, everything is about having a hypothesis,” she says.

She expands the connection into a web of parallels: although math is formulaic, science is about testing those hypotheses. As you gather findings and hone the hypothesis, she adds, you develop a theory. The entrepreneur’s process works the same way.

Shead has made her home within those parallels.

As a child, the daughter of two entrepreneurs told everyone she wanted to be a reconstructive plastic surgeon. But by the time she went to Loyola Marymount University to play basketball, she found herself torn between majoring in business or natural sciences— ultimately landing on the latter. Today, she has built her career in the STEM education field, redefining what it means to get students engaged and on track for their careers with her edtech platform, Stemuli.

The journey between Shead’s beginnings and present is also strung together by a collection of hypotheses, studies, experiments, and tests. But it’s a journey that led to a clear result: Shead has mastered the art of not limiting herself.

And along the way, she has removed limitations from the people around her.

A toddler Shead, held by her mother Cassandra, who raised the the future tech expert in Plano.

Shead’s father, Kenneth (center) was a big player in licensing deals with major sports leagues.

While studying at Loyola Marymount University, Shead played on the school’s basketball team.

Stemuli raised $3.25M in funding in 2022, making Shead the 94th Black woman to ever raise $1M in VC.

YOUR ONLY LIMIT IS YOUR CREATIVITY Shead describes the boardroom of her dad’s office in the context of hats. They were hung on the walls from floor to ceiling with a variety of logos. He worked in sports marketing and was one of the first Black retailers to win licensing deals from all major sports leagues. It was just one of many examples of creativity that Shead saw from her parents throughout her childhood.

After leaving her hometown of Plano for Loyola Marymount, Shead found the competitive environment in Los Angeles served as a haven for budding entrepreneurs. She also found that traveling as a Division I athlete presented its share of challenges. Just as she was having struggles accessing school materials while on the road, the iPhone was released. “If you can do all of these social things and other apps on your iPhone, why can’t you access everything from school on your iPhone?” Shead remembers thinking.

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H I S TO R I C P H OTO G R A P H Y C O U R T E S Y O F T A Y L O R S H E A D

they don’t see the failure of me losing my scholarship, they see more,’” she says.

While in L.A., Shead surrounded herself with a group of older friends, many of whom were entrepreneurs who provided her with opportunities to grow.

One, a software engineer who worked for Disney, fielded her questions about technology. “Finally, he told me: ‘Alright, Taylor, you’ve asked me the same question a million different ways. You can literally do anything you want with technology. Your only limitation is your creativity,’” Shead says. “That was the one quote or piece of advice that just changed my outlook on life. All of a sudden, I was living in a world with no limitations.”

Shead was also inspired by her own examples of this within the greater tech industry. Going into college, she convinced her mom she needed a MacBook computer. She heard the stories of tech innovators like Steve Jobs and those within Pixar Studios, who were continuously besting themselves as a key part of their trajectory. “Hey,” she thought, “you can develop products that are great, that people love, and that people want to stay devoted to for an entire lifetime.”

PLOT TWISTS AND TURNS On a late March afternoon, Shead is sipping from a glass of lemonade at Little Daisy on the ninth floor of the Thompson Dallas. Although her accolades and roles don’t begin to spell out her full impact in education and business, they provide hints: executive board member of Texoma Semiconductor, board member of the North Central Texas Economic Development District, and previous board member of the Dallas Education Foundation, to name a few.

Quite a list for an entrepreneur who’s just 34 years old.

Initially, Shead was resistant to moving home. After withdrawing from Loyola Marymount her junior year, Shead was still living in L.A. She raised about $300,000 to start her first business—an educational tool that helped kids learn on the go and understand the importance of science and math in their future careers. Former Disney employees developed the minimum viable product (MVP) version, she says, and funds were raised through Greg Bestick of The Learning Co. and through a family friend and former PepsiCo executive.

At the time, tech had not yet caught up with her vision. However, the experience helped cultivate a knowledge through projects with the state of Utah, Pearson Education, and other clients. It also gave her experience in developing relationships and public speaking. Her dad encouraged her to move home, but Shead told him she liked L.A. She gave the same response to her grandmother.

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“I need to do something big enough so when people look at the life of Taylor Shead, they don’t see the failure of me losing my scholarship, they see more.”

“My grandma said, ‘Taylor, I’m gonna pray about that.’ Thirty days later, I ended up moving home.”

After returning to Texas in 2013, she got a job with Apple. There, she learned about creating a finely tuned company culture. In June 2016, she filed paperwork to launch Stemuli as a business.

Another wave of opportunity came that same year from Dallas ISD. The district was opening a Pathways to Technology Early College High School (P-TECH) program that connected industry partners with high school students, and they had noticed Shead’s tech-based education platform.

She began volunteering with the program and mentoring students during her lunch breaks at Apple, giving her a chance to give back and learn. “I thought, ‘Oh my gosh, this is what I knew needed to happen,’” Shead says. “Corporations need to be involved with this; they’re doing something right.’”

At the end of the first year, Shead asked students what their favorite field trip destination had been “And they said, ‘Miss Taylor, all we know is you and Stemuli.’ I was shocked by that,” she says. Looking into it, she found it came down to an accessibility issue. “Students didn’t have transportation to get out to the Microsofts of the world,” Shead explains. “So, we wanted to bring the world to the kids.” Stemuli began developing a platform to virtually connect students with mentors.

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Stemuli is is one of 41 members of the Texoma Semiconductor Hub led by SMU.

Fighting for Representation Last year, Southern Methodist University was named the lead agency for a federally funded economic development initiative focused on the semiconductor supply chain. Called the Texoma Semiconductor Innovation Consortium, the hub includes 41 members; Stemuli is among them. “That proposal would have looked very different without Taylor,” says Khiry Kemp, head of operations for Stemuli.

“As a leader, she said, ‘Hey, we can’t be doing this work and not get Dallas College and Paul Quinn College involved. If we’re talking about making a difference we must serve populations that are held behind, including South Dallas, where the average income is $30,000.’ Taylor changed the very nature of this $70 million proposal.”

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During her time at Apple, Shead met Wade Aston, a co-worker who was studying computer science at UT Dallas. After he graduated, he began working with Shead on her app. Today, Aston serves as the engineering manager.

Stemuli’s first product launched in 2018. The platform was adopted by DISD and eventually spread to Garland and Fort Worth, as well as some districts on the East Coast. By 2020, the platform was still in ‘chapter one’ of its existence, connecting students to mentors at Fortune 500 companies. Microsoft and Accenture employees were the first to use the platform.

And then, in the spring of 2020, Shead encountered a plot twist with the emergence of the pandemic. She worried that the students she met in 2016 through DISD’s P-TECH program, who were now seniors, wouldn’t be able to graduate if they couldn’t connect with their teachers. Fostering that connection became her new mission.

Shead and her team worked with the Dallas Education Foundation and DISD to create a virtual classroom on top of the existing platform.

“We built that platform within three months,” Shead says. The product launched in June 2020.

Although Shead had experience teaching kids about building resumes and interviewing with companies, developing the new product gave her a window into basic classes of the day. “Science and math class is just as boring as it was when I was in high school,” she says.

DISD leadership tasked Stemuli with build-

ing something the world had never seen before. A call from the district’s now current chief technology officer suggested that Shead gamify her platform. The Stemuli team began studying video games, taking notes on what made Roblox, Fortnite, Minecraft, The Sims, and other ames so successful. In August of 2021, Stemuli launched the country’s first educational metaverse that turned school into a video game. The move paved the way for an immersive gaming platform that took traditional school content and turned it into educational video-game quests. It could look like answering questions about physics concepts in order to help launch a rocket into space, or even playing racing games to answer questions about the Roman empire. The product allowed kids to choose an avatar. Unlike the Brady Bunch grid offered

by Zoom, the Stemuli platform allowed students to see their teachers in a simulated classroom; they might see one of their friend’s avatars raise their hand if they had a question. If they wanted to emote, hearts appear over their heads.

Despite running into funding challenges, the team continued to enhance and support the product. Come May 2022, the company raised $3.25 million in funding, making Shead the 94th Black woman to ever raise more than $1 million in venture capital. Today, the Stemuli platform includes workforce development features like college and career readiness content, as well as agriculture and semiconductor content.

With the success of the product came feedback—students wanted to do more in the virtual world beyond a classroom. Teachers said kids were asking them for more homework so they could stay on the game. Parents loved that their kids had to be pulled away from learning to come to the dinner table but wanted to know what their kids were learning.

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H I S TO R I C P H OTO G R A P H Y C O U R T E S Y O F T A Y L O R S H E A D

A convening at the Bill and Melinda Gates Foundation focused on student and teacher voice (right).

Based on that engagement, Stemuli acquired “GPS of Learning” tech to integrate into the game and provide analytics and data on student progress.

Shead says Stemuli has launched the MVP of the next version, securing a deal valued at $15 million over the coming three years and an $8 million investment. Funds from that will be used to accelerate the next version of the platform, which personalizes curriculum for each student using their interests.

Shead says it’s about leveraging data for kids based on their interests. “Our view on data is different,” she says. “It’s like, ‘Who is this person? And how do you shape their entire learning experience around who they are?’”

FROM GAMERS TO CHIP MAKERS Shead is nowhere near finished crafting the future of Stemuli. Last year, the company celebrated a double merger with infinity.careers, founded by Naomi Thomas, and Oppti, founded by Khiry Kemp. Thomas now serves as Stemuli’s head of digital, while Kemp is the company’s head of operations. The three met through an entrepreneur residency program called Jobs for the Future.

“My first impression of Taylor was that Stemuli was a much bigger company than the company I’d been working on,” Kemp says. “Her vision was bigger; she seemed to communicate on an inspiring-type level.”

Shead, Kemp, and Thomas gelled, so Shead suggested meeting in person. There, she pitched the idea of merging their companies; Kemp and Thomas agreed. “Taylor’s a big personality in all the right ways,” Kemp says. “I wanted to be in a position where I could be the lesser known, like Roy Disney to her Walt, as an example. I saw myself being the operations guy driving a lot of the execution while she’s continuing to up revenue and investments.”

Looking ahead, Stemuli is integrating generative AI into its platforms to build a never-ending video game and lifelong learning experience. The goal is enjoying a funding boost thanks to a grant from the Gates Foundation. Shead and Titilola Harley, program director of R&D K12 for the Gates Foundation, connected during a panel discussion in Washington, D.C. The foundation’s K12 education team focuses on improving math experiences for all students, especially Black and Latino students and students impacted by poverty, Harley says. At around the same time as the D.C. event, the K12 team was developing a cohort designed to connect ed tech developers who have math products that engage and motivate students.

As the team was building its cohort, Harley says, Stemuli kept coming to the surface. Not many math products are using augmented reality and virtual technology in the same way, she says. “They are constantly trying to make their product better,” Harley adds. “They do a lot of work to solicit feedback from students and teachers about all the elements that they’ve designed in the product so that all the design features are intentional.”

Stemuli is also poised to be a game-changer in developing the semiconductor workforce of the future. When it was announced that Southern Methodist University was designated as the lead agency for a federally funded economic development initiative focused on the semiconductor supply chain, Stemuli was added to the list of 41 members of the Texoma Semiconductor Hub. “Stemuli is going to be the digital learning platform for that tech hub,” Shead says. “When people hear about the industry, they’re going to go to the Stemuli landing page and it is going to tell them how to navigate the resources in order to become prepared for jobs in this career.”

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It’s a vision that Shead wraps up in a tagline: “Gamers to chip makers, chip makers to wealth makers.” A game within Stemuli will teach young kids how to develop chips, Shead says. She envisions Stemuli becoming a continuing education tool for students who graduate from high school but don’t immediately go to college. “As soon as they say, ‘I want to do something more,’ they have nowhere to go,” Shead says, “And sometimes they’re scared to step on a college campus.

With our platform, they’ll have a compass.”

When Shead thinks about defining success, she’ll tell you it hasn’t yet been achieved. “When millions of kids are learning on our platform and getting great jobs, that’s what success means,” she says. “They’re on a career pathway. They’re not just learning math for the sake of it.”

Today, Stemuli boasts 100,000 learners. Shead says that will triple in the next school year. She has her sights on reaching 2 million.

For now, Shead says the infrastructure is in place for success. “We have the right people, we have the right partners, and we’re on to something with a product,” she says. “We’re doing what we can, but ultimate success is millions of learners having a different education experience than they have today.”

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Claudia Mirza spent a week working on her first translation. “I wanted to get it done right,” she says. “It didn’t matter how long it took ... this was the start of something very special.”

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A Way With Words story by

HILARY LAU

portraits by

T R E VO R PAU L H U S

Claudia Mirza grew up in Cartago during the height of Colombia’s violent drug wars.

Job loss and a chance encounter led her to co-found what’s now a global translation powerhouse, Akorbi. Here’s her story.

THE MOUNTAINOUS city of Cartago, Valle del Cauca, is known as el sol mas alegre de Colombia, or “the city with the happiest sun in Colombia.” Valle del Cauca’s port, the country’s most active in the Pacific, is a hub for exporting coffee, sugar, cotton, sawn wood, gold, and platinum.

Valle del Cauca was also home to the Norte del Valle Cartel, an offshoot of Pablo Escobar’s infamous Medellín

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and rival Cali cartels that rose to prominence in the 1990s, which meant that a lot of cocaine traveled through this port. Between 1990 and 2004, the cartel exported more than 1.2 million pounds of cocaine worth more than $10 billion that was ultimately resold in the United States.

Claudia Mirza’s father, Hector, left her with her mother in their hometown of Cartago in the 1980s when Mirza was just four years old. He had been offered a job working with thoroughbred horse trainers at racetracks in America. The life-changing pay was enough to convince him to leave his young family behind with little but a promise to send money back to them in Colombia to put toward a better life.

Mirza and her mother struggled to find a place to live after her father left and the hospitality of family and friends ran out. Her mother moved them to the projects in Medellín with good intentions, but they were ultimately faced with living in another cartel-controlled town with rampant drug use, prostitution, and violence.

“The city was on absolute fire,” recalls Mirza, now co-founder and CEO of Dallas-based translation company Akorbi. “There was a group called Los Pepes—they were people against Pablo Escobar, chasing Escobar—so, he was bombing the city, the police, the buses, and anything that was public.” Because her school was close to police headquarters, Mirza remembers frequent evacuations and running to take cover with her teachers and classmates.

“I kept dreaming about maybe going under a fence at the border,” Mirza says. “I remember digging with my hands, trying to somehow go under and see my dad.”

Hector eventually faced his own challenges that affected his employment at the racetracks, but he found work at the Miami Quarantine Station, where animals are imported into the United States from other parts of the world. By chance, he met a man importing an ostrich from Africa to Whitney, Texas, who offered him another training job in the Lone Star State.

Back in Colombia and without ever losing hope for a new life with her father in the United States, Mirza tirelessly worked to turn her dreams into goals, and, ultimately, flourishing success.

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IN COLOMBIA, there’s a cultural importance and sense of significance around the family and providing for one’s own. Aside from the dynamic wherein a parent would immigrate to the U.S. and send money back home to their families, Mirza remembers a common type of “informal employment.” Families relied on what they knew to create and run businesses out of their homes. “We really become very entrepreneurial because we have to survive,” she says.

It took 17 years for her to reunite with her father in the United States. He had filed for her green card, but due to administrative hurdles and communication issues with the Colombian consulate, she was never able to obtain it. After graduating from college in Colombia, though, Mirza got a job at an

Growing up in Colombia, a young Mirza shared her father’s passion for horses. She was a natural rider and frequently won honors in Paso Fino Youth Championships.

An infant Mirza with her father, Hector, and mother, Liria. Her dad left the family when she was 4 years old to take a job working with thoroughbred horse trainers in the United States.

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oil infrastructure company and was able to save enough money to visit her father in the States on a tourist visa.

She had grown up to be grounded, grateful, agreeable, and conscientious—great qualities for a peace negotiator, which Mirza says she can still envision herself becoming one day.

When she arrived in America in 1997, her parents were waiting for her. Partly because her mother had always kept a steady focus on her education, even as they struggled in Colombia, Mirza made it a priority to enroll at DeVry University and began working with her dad at the racetrack, preparing stalls and conducting drug tests on horses following the races. “We used to intercept horses that were picked up for anti-doping tests, take them through the test barn, and take their blood and urine. It was fun work, it was interesting, and I made $7 an hour.”

Mirza later got a data entry job that led to her creating technical documentation for Genuity, a company that spun off to satisfy Federal Communications Commission requirements around the GTE-Bell Atlantic merger in 2000 that created Verizon. Although it paid for her second degree in business administration with a minor in information systems, Mirza became one of 10,000 employees who were laid off after Genuity went bankrupt in 2002 during the dot-com crash.

“It was really a very important moment because I really hated to be so helpless,” Mirza says. “So, I went to the Greater Dallas Hispanic Chamber of Commerce to ask for a job.”

Gabriela Carvallo, the chamber’s president of economic development, suggested that Mirza open her own enterprise. Although she hadn’t thought of doing so before, Mirza liked the idea of creating a company that provided some kind of solution for other small businesses. Plus, it felt “right” to honor her entrepreneurial and resourceful Colombian roots.

“Claudia is very smart,” Carvallo says. “If you give her a suggestion, she’ll go and do it. And as an overachiever, she’ll come back and say, ‘I did this, plus this, plus this, plus this.’”

While mulling over her next move, Mirza went back to work at the racetrack with her father. Shortly after she arrived, there was a horse racing seminar featuring a Spanish-speaking trainer, and the person who was set to interpret didn’t show. This proved to be a fortuitous opportunity for Mirza, who stepped in. “I started reading all his material and noticed we had to correct it; one of my degrees from Colombia was a minor in agricultural business, so I knew the agricultural terminology was not

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right. And there were spelling mistakes.”

What began as a volunteer interpretation effort at the racetrack evolved into referrals to outside companies willing to pay for more interpretation and translation. After a particularly frustrating experience trying to read and understand a Spanish version of her health insurance policy, Mirza had an epiphany: translations and interpretations could become tenets of her business plan.

“The lack of employment, the chamber of commerce, the racetrack, the translation needs, and census data, I saw around the growth of minorities in the United States, along with major mistakes in American media,” she says, “I realized that there was an opportunity.”

AKORBI, a neologism that is based on the words “a bilingual corporation” and, by design, short, easy to pronounce, and begins with the letter “A” for the Islamic idea of putting everything in front of Allah, was created at the racetrack. Mirza strategically named her company to begin with the letter “A” to position it at the top of indices and databases and took care to ensure there were no negative connotations in other languages since the business would be supporting multilingual operations for organizations through the art of translation services.

Mirza co-founded Akorbi with her then-husband, Azam, in 2003 and now serves as its CEO. It made its first $50 by translating a death certificate from a client that the Greater Dallas Hispanic Chamber of Commerce had referred. Mirza spent a whole week working on it.

“I wanted to get it done right,” she says. “It didn’t matter how long it took because this was the beginning of something very special.”

Mirza was right; referrals continued—and grew in scale. Soon, she was translating for large, well-paying customers in Dallas-Fort Worth, such as 3M and Dallas Area Rapid Transit. “I loved DART; they really gave us an opportunity to translate and had an amazing small business office that made us a substitute for a PR company,” Mirza says. “With that, we started getting a little bit of cash flow. The first year, we made $13,000. The second year, we made about $50,000. And the third year, we made $200,000. It just kept growing.”

Today, the Akorbi group of companies is estimated to generate up to $65 million in annual revenue. Its translation services are still at the core, but just as Mirza predicted, its offerings have evolved. “Every service company at some point will become a technology company because of the significant technological innovations they make.”

Beyond basic translation services, Akorbi helps com-

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panies to do business internationally by breaking down barriers to multilingual communication. Its team can translate, localize, staff, provide customer support, and interpret. It has its own proprietary language service translation management platform and acquired a company called RunMyProcess about three years ago to instate a low-code system that seamlessly integrates with natural language processing tools to assist in more accurate, efficient, automated translation processes.

“RunMyProcess brings everything together and connects it, and it’s also a computer system that generates more computer systems,” Mirza explains. “We don’t need to wait for 15 months of development to connect one API or one system to the other, or to be able to create reports of webpages or a dashboard. The future of our industry is going to be a lot of integration, and AI is going to add a different layer of complexity. I’m excited about that, too.”

Mirza has stayed ahead of the curve, seeing an opportunity more than 15 years ago to gain efficiencies by upskilling employees to use and develop AI and machine learning.

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Mirza gets away from it all at her farm in Van Alstyne. There, she keeps two miniature donkeys, rescued through a nonprofit run by Celinabased Donkey & Equine Haven USA.

Carrying on the family equine tradition in North Texas Mirza keeps her father’s memory alive by continuing his equine-based lifestyle at her farm in Van Alstyne, about an hour north of Dallas. There, she has two miniature donkeys, Annabelle and Anacleta, to remind her family of his legacy. They were rescued through the Association for Donkey & Equine Haven USA, a Celinabased group that rescues, rehabilitates, and rehomes abused, neglected, or abandoned equine animals. Most of its adopters are firsttime donkey owners.

Known for being intelligent, friendly, and affectionate, most miniature donkeys grow to be 36 inches tall and weigh between 200 and 450 pounds. They can live for up to 40 years and often form a special bonded pair.

“Prior to his death, he wanted to have donkeys,” Mirza says of her father. “To me, they represent a lot of what his wishes were. They are self-sufficient and amazing.”

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“One thing that is very important to me is that, through my journey, I was able to give back to the people where I came from.”

Mirza says Akorbi has translated more than 45 billion words, and is one of the largest women-owned language service providers in the world. It has customers in more than 200 countries and works in 170 languages, completing about two million minutes of translations per month.

When it first became time for expansion, Mirza returned to Colombia, a place very close to her heart. “Whenever you have a business, a lot of people recruit you to create employment in a lot of locations because everybody wants those taxes,” she says. “I went to the town where I came from, where there is no employment since it’s so violent, and I saw amazing youth and potential. So, we opened Akorbi in that town.”

Due to issues with local officials, though, Akorbi ultimately shifted operations to Pereira, Risaralda, where Mirza says the business climate is extremely favorable.

She was able to keep employees it hired in Cartago because it was only a short commute.

“One thing that is very important to me is that, through my journey, I was able to give back to the people where I came from,” Mirza says.

Today, along with Pereira, Arkobi has offices in Dallas, El Paso, Tucson, Paris, and Hyderabad, India, and counts Google, Blue Cross Blue Shield, Aetna/CVS, and Apple among its clients. The company has 700 employees and more than 4,000 contractors worldwide.

ning Women, U.S. Hispanic Chamber of Commerce’s Business Woman of the Year, and among WBENC’s Women’s Business Enterprise Stars.

Akorbi is also ranked among the top 30 of the 50 Fastest Growing Women-Owned/Led Companies, according to the Women Presidents’ Organization.

“In today’s world, if there is a country you should be in to do business, that’s the United States,” Carvallo says.

“If there’s a state you should be in, that’s Texas. And if there’s a city where you should be in to start a business or run your business, it’s Dallas. The economy is very vibrant, and Claudia is in the perfect state and city.”

Through it all, Mirza continues to run her global enterprise with an eye on opportunities around technology, continuous change, and disruption within the translation industry. She’s also focused on her two sons, Kamil, 13, and Anwar, 18, whom she counts as her life’s greatest blessings.

She’s grateful that she was able to see them experience her father’s love and attention before he died about two years ago. “I got to enjoy my father again,” Mirza says.

“I got to see the same love he gave me when I was little.

He gave it to my children, and it was the most amazing thing—the purest form of love a person could have.”

As a child growing up in Colombia, Mirza never could have dreamed that she’d grow up to become CEO of a flourishing global enterprise.

A CORE PART of Mirza’s strategy has been a focus on information security, talent, and technology. She has made conscious strides to grow her executive team, empower the company’s rise in industry rankings, and continually launch new services.

She also stayed ahead of trends in AI, making a key decision more than 15 years ago to replace inefficient, human-driven translation processes with automation and machine learning after a revenue flatline. Just like the one she saw in translation at racetracks, she saw an opportunity for her employees to upskill and learn how to train artificial intelligence engines, merging various divisions of Akorbi to capitalize on cross-learning opportunities.

Mirza’s accomplishments have been recognized by Time, MSNBC, Forbes, Fortune, and Inc. She was named among Ernst & Young’s Entrepreneurial Win-

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N O R T H T E X A S B U S I N E S S A D V I C E , A N A LY S I S ,

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PHOTOG R APHY BY JAKU B AND J E DRZE J KRZ YSZKOWSKI

Broadening the Horizon Courtney Tawresey, Shareholder POLSINELLI

“at the end of 2017, i was a senior associate with a law firm and represented a major investor in tax credit deals. When the Tax Cuts and Jobs Act of 2017 passed and took effect, that client came to our firm and told us they would be reducing their investments by a significant amount. As the most junior tax attorney, I was laid off shortly thereafter. It required me to become creative and look for employment that was more broad-based than focused on tax credits. That brought me to Dallas and my current practice, where I represent developers in tax credit deals, but I also work with many other clients with general tax issues, M&A, and more. It was a hard time for sure, but it taught me to deal with adversity, expand my skill sets, and make a bet on myself that it would all work out. And it has.” —As told to Layten Praytor

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Building on a Firm Foundation How three women leaders are writing the next chapter for their family enterprises—and for the construction industry. story by AUDREY HENVEY

w hen a young k aty kothmann abraham visited her father’s office in the Fort Worth Stockyards, she was tasked with things like sharpening pencils and organizing books for his construction cost estimating business. As an adult, she embarked on her own career, working as a buyer for multimillion-dollar retail operations before switching to oil and gas and overseeing more than 50 drilling rigs. But in 2012, her father asked if she would consider buying his company, Construction Cost Management.

She tested the waters first, working both in her previous job and her father’s enterprise. Two years in, though, she took the reins as CEO. In her first few years of ownership, the enterprise grew by an impressive 600 percent. And things have continued to go well. Between 2021 and 2023, sales at Construction Cost Management grew by 67 percent. Last year, it handled about 120 projects.

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“Katy has done such a wonderful job—an amazing job,” says her father, Keith Kothmann.

He credits her success to the way she leveraged her previous corporate leadership experiences.

For Kothmann Abraham, the ownership opportunity was far more than a business deal.

“When you’re an entrepreneur, and you work so hard at something, like my dad did, building this company, late hours, weekends—if you ask any entrepreneur, it becomes your baby as well,” she says. “In the beginning, I was very intimidated, because I was afraid that the people that my dad had worked with for so long wouldn’t take me seriously because I’m not an estimator. But what that allows me to do is work on the business instead of in it.”

Only about one-third of family businesses make it to the second generation. Young leaders who step in to take the reins have the benefit of a set foundation, but also have the added pressure to not squander the opportunity and mess things up. Women who take over companies in traditionally male-dominated industries like construction have an extra challenge.

When Kelly Smith moved to Dallas in 2013 with her husband, Smith and her father were in the same city for the first time since her high school days. Her father opened a Dallas office for his Ohio-based electrical services business.

Soon after Smith relocated, her dad’s financial partner decided to exit the company. On the horizon of change, Smith—who had built a corporate career in business intelligence and data warehousing—and her father began exploring what it would look like for her to step in. They came to terms, and she became his new business partner. “I decided if I didn’t try it, it might be something that I would regret for the rest of my life,” Smith says. “I felt like I was qualified at that point. I had a degree in electrical engineering. I had been in Corporate America, worked for very large corporations, and I just felt like I was probably equipped to try it. And so I bought his partner out.”

Today, Smith serves as managing member and CEO of All Tech Electric. The company, now based in Lewisville, provides electrical work for construction projects across multiple industries. Since Smith took the helm, the company

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has grown from about 25 employees to 70. It saw nearly 30 percent growth between 2022 and 2023 and handles 20 to 30 electric projects a year with a “sweet spot” in projects that range from $1 million to $8 million. It also performs smaller service and maintenance projects ranging from as small as $250 to $1 million.

Although her father had a wealth of field experience and technical expertise, Smith says she has built her own identity in the industry through networking and building relationships. A pivotal moment for her came when her network of peers and mentors encouraged her to follow her gut and lead from experience. “I think we started working even better together as a team at that point,” Smith says, “because I gained the confidence I needed, and I realized I didn’t need to be my dad to be successful.”

Entrepreneur Carmen Autry did not take over her father’s company, but she does credit him with introducing her to the construction services industry. She grew up in the business, as her dad and uncle were both welders. It was her father who taught her things like how to change a car tire, drive fast cars, speak up, and not be afraid to ask questions. “My dad never said, ‘You can’t’ or ‘You shouldn’t’ or ‘Don’t—that’s not a good idea,’” Autry says. “He always said, ‘Whatever you want to do, kiddo. What do you want to do?’”

That support and encouragement has formed the basis for how Autry approaches her career, from rolling up her sleeves and operating a forklift when needed to launching her own company, NTD Mechanical, in 2001. The Garland-based mechanical contractor generated $500,000 in revenue in its first year and today rakes in about $30 million a year. The company grew by nearly 40 percent between 2022 and 2023 and handled about 40 projects.

When it comes to forging your own way forward in the family industry—no matter what it may be—Autry’s advice is to go for it. “Know who your competition is, know what they do, and know how you’re going to be a little different,” she says. “Make sure your ethics and your quality are very clear upfront. If you start to compromise with some of those things, it’s probably not going to end well. Your word is your honor.”

KEY PROJECTS

Breaking New Ground Notable assignments handled by three DFW women-led construction services companies.

CONSTRUCTION COST MANAGEMENT Founded: 1979 Headquarters: Fort Worth Key projects: Elwha River, Washington; The Pentagon; Zion National Park; various military installments around the world ALL TECH ELECTRIC Founded: 2003 Headquarters: Lewisville Key projects: Carpenter Park, Klyde Warren Park, Dallas College Cedar Valley, Hello Fresh, University of North Texas HSC Regional Simulation Center NTD MECHANICAL Founded: 2001 Headquarters: Garland Key projects: Core Construction headquarters; Hilton Canopy Hotel, WilmerHutchins High School

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What is one thing you would change about the North Texas business environment? edited by LAYTEN PRAYTOR

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illustrations by JAKE MEYERS

CHERI GARCIA

TATIANA CHAMORRO

AMY POWER

Founder and CEO CORNB RE AD H USTLE

Co-Founding Member and Vice President T O U C A N C O C K TA I L S

President and CEO TH E P OWE R G RO U P

“I would love to see more companies hire people with criminal backgrounds. I would also love to see more transparency in job descriptions regarding criminal background policies for the sake of hopeful applicants looking for a second chance. It is very discouraging to apply for jobs, get hired, then get an offer rescinded due to the results of the criminal background check. This is why ‘ban the box’ isn’t very effective and can be harmful instead of helpful to returning citizens.”

“I believe the North Texas business environment is working strong toward a more inclusive and diverse landscape of business professionals. However, among our area board members and leaders, we are far from being able to truly reflect the diversity we see in our residents. I would love to see more local female leaders, minority women, and immigrants who have incredible growth stories to share be reflected in our leadership in the private and public sector, especially within our more urban areas.”

“I would pour more money into education, especially career and technical education that helps young people get into trades and other specialties, such as culinary, veterinary, and nursing careers. Not everyone is meant to be an influencer or a business executive. We need people who can design, build, and maintain the infrastructure we have already created. And the region needs to invest collectively. As it is said, ‘If you want to go fast, go alone; if you want to go far, go together.’”

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DFW BUSINESS LEADERS

ART OF STYLE

P H OTO G R A P H Y BY S E A N B E R R Y

PUBLIC AFFAIRS EXEC CAREN LOCK’S STYLE RANGES FROM ELEGANT TO ‘ROLL OUT OF BED CHIC’

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WHAT I DO: “I’m a public affairs executive at TIAA, a financial services company.”

STYLE ICON: “I admire Nicole Kidman’s bold color choices; she always dazzles on the red carpet. Who can forget that chartreuse John Galliano-era Dior gown?

She’s not afraid to try different patterns and mix up the length and cut of her outfits.”

ON THE JOB: “My job as a lobbyist requires me to dress professionally, but it also affords me the flexibility of embracing a bit of fun.

I don’t wear dark suits like I did when I was a lawyer.

Now, I have pink, yellow, and green dresses, and even some metallic ones.”

FASHION INSPIRATION: “I try to go for comfort first because I travel quite a bit for work.”

STYLE DEFINED: “Fun but elegant” FASHION ESSENTIALS: “I never leave home without tinted lip gloss, so I look more polished; Lumify eye drops to take the red away; and dental floss and mints for obvious reasons.”

GO-TO LOOK: “I have more white jeans in various shades than you can possibly imagine.”

HOW I ACCESSORIZE: “For me, less is more. I have a two-piece jewelry rule. If I’m wearing earrings and a necklace, then I won’t wear bracelets.”

PURSUITS

Lori Ryerkerk Braves the Blue The Celanese CEO feels right at home beneath the surface—even when encountering some of the fierce predators in the sea.

lori ryerkerk has logged more than 500 dives in exotic destinations around the globe, ranging from the Red Sea to the Maldives. It’s a far cry from her first experience—in a cement quarry filled with freezing water in the middle of Iowa. Despite the conditions, she was hooked. “I like nothing better than to be underwater,” Ryerkerk says. “I find it very relaxing, very calming.

As someone who has a lot going on in their head all the time, it is a way for me to instantly destress.”

That said, early in her career the Celanese CEO struggled to find time to travel for diving as she rose through ExxonMobil, Hess Corp., and the Royal Dutch Shell. In 1983, Ryerkerk, who is Dallas’ only female Fortune 500 CEO, moved to the south and started to dabble in snorkeling.

Once her daughter Kate turned 12, Ryerkerk set her up with diving lessons to become scuba-certified. When her son, Grant, came of the same age, he also earned his certification. “It was

a way to connect with my kids in their teenage years,” she says. “I may not have been cool about a lot of stuff. But diving, to them, was cool.”

Some of Ryerkerk’s favorite adventures include swimming through underwater canyons with Kate in Bali and diving in the Red Sea with Grant alongside 30 sharks—beasts she has come to admire. “I love to dive with sharks—except I never want to be near a Great White,” she says. “Sharks are just beautiful creatures.” Up next for the Ryerkerk family? The Caribbean and the Sea of Cortez off the coast of Cabo on Mexico’s west coast.

According to Ryerkerk, who typically plunges about 25 meters deep but has gone as low as 40 in Belize, diving is a lot like business. On two occasions, both of her children ran out of air while diving, causing Ryerkerk to spring into action. “I had to give them my supplemental air and go to the surface, but that’s what you prepare for when you train to dive,” she says. As a CEO, she takes a similar approach to guiding a $10.9 billion corporation. “There will be emergencies when leading a business, but the key is to train people,” she says. “If you have 90 percent of a situation planned for, you have the capacity to deal with the 10 percent that is unexpected.” —Ben Swanger

MARINE MOMENT Lori Ryerkerk with her daughter Kate, now 33 years old, scuba diving off the coast of Hawaii.

P H OTO G R A P H Y C O U R T E S Y O F L O R I R Y E R K E R K

WEEKEND LOOK: “Oh, I can go super casual, borderline ‘roll out of bed’ chic. I don’t wear makeup on the weekends to give my face some time to breathe, and I love my yoga pants and T-shirts.”

FAVORITE STORES: “I’m a huge fan of Milly and Cinq à Sept’s colorful dresses. I like Reformation, Ted Baker, and L’AGENCE for work. If I’m hitting the town and want something edgy, I like alice + olivia.”

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EMBARRASSING MOMENTS

We asked execs to share some mortifying experiences they’d rather forget. Here’s what they had to say.

The Woman in the Arena Stewart Law Group Founder Amy Stewart’s competitive streak took her from the basketball court to the courtroom.

as the final whistle blew and the crowd rushed the court, Amy Stewart and three of her fellow Tulane University women’s basketball coaches embraced with a feeling of exhilaration that’s nearly impossible to replicate in professional sports. The Green Wave won the 1999 Conference USA championship and was headed to the NCAA Women’s March Madness tournament for a fifth consecutive year. Stewart, now a partner at her firm, Stewart Law Group, coached under Tulane legend Lisa Stockton, who led the program for three decades.

Born in North Carolina, Stewart grew up a UNC fan in the wake of Michael Jordan’s days as a Tar Heel. A college visit CUT THE NETS to Wake Forest University Stewart celebrates Tulane’s 1999 Conference in Winston-Salem, howUSA Women’s Basketever, introduced Stewart ball Championship.

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to the Demon Deacons. Following the trip, she received a basketball scholarship to the school.

After playing for Wake from 1990 to 1994, Stewart spent her post-grad years developing strength and agility programs for high school athletes until she was recruited by Coach Karen Freeman to join the Demon Deacons’ coaching staff in 1996. When Freeman left to coach the WNBA’s Charlotte Sting, Stewart took a job at Tulane, coaching there from 1997 to 1999.

She loved coaching, but didn’t feel that it was her true calling. She left to work as a consultant for the NCAA, helping college athletes parlay their skills into the professional world, then transitioned to pharmaceutical sales. A doctor she met suggested that she attend medical or law school. After earning her law degree in 2007 from the University of Missouri–Columbia, where she met her husband, Ed, the couple moved to Dallas after he accepted a job as the executive associate commissioner for football at the Big 12 Conference. Stewart worked for various firms as a corporate trial lawyer, but in 2017, she founded the only minority woman-owned litigation boutique in Dallas.

Today, Stewart focuses on everything from contract disputes to employment matters. She is a Title IX investigator and offers counsel for companies wading into Name, Image, Likeness matters. Although her playing and coaching days are over, Stewart has found the next best thing. “Name another profession where you have a practice and one key game, which is our trial,” she says.

“People come to the courthouse in Dallas County and watch phenomenal trial attorneys compete.” —Will Maddox

“I was on a big market tour of three cities in a day and upon getting off the plane, the heel of my shoe broke off. I couldn’t walk with only one shoe, so I went barefoot. The only shoes I could find in my size were flip flops, so I wore flip flops with my suit.”

MARISSA SOLIS

SVP, Global Brand and Consumer Marketing National Football League

“When I was 12, my family vacationed at Disney.

I was so in awe of my surroundings that I walked straight into the pool at our hotel. I received a round of applause from guests.”

HETTIE RICHARDSON

Interim Dean TCU Neeley School of Business

“I was at a Dallas Stars game, right behind the glass. Mike Modano just broke a record that game.

Then, I got hit by a hockey puck and had to be assisted out of the arena and taken to the ER to get staples in my head.”

JEANETTE TECKMAN

SVP, Associate General Counsel, Litigation Match Group

“A couple of years ago, I was traveling abroad and didn’t think to check the expiration date on my passport. As it turns out, it had just expired.

I had to make several stress-filled phone calls to get a renewal expedited so l could present at an international conference.”

S U L AG N A B H AT TAC H A R YA

Co-Founder, CEO Nanoscope Therapeutics

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NATURE’S CANVAS

The immersive Andaz Costa Rica weaves through the tropical dry forest, with cascading vines and lush greenery.

GULF EATS

Beachside Mediterranean eatery Virador at the Four Seasons Costa Rica overlooks the Gulf of Papagayo.

W E L L T R AV E L E D

Peninsula Papagayo, Costa Rica The gated peninsula, a go-to destination of Clearsight Advisors’ Co-founder Gretchen Frary Seay, embodies the Pura Vida lifestyle. story by BEN SWANGER AND WILL MADDOX

WELLNESS RETREAT

The Four Seasons spa offers a Tibetan sound bath, reiki, and other treatments.

UNIQUE PERKS

Guests of the Andaz’ expansive villas can opt for personal meals prepared in room by resort chefs.

LUSH FAIRWAYS

The peninsula’s Arnold Palmerdesigned course is one of the top venues outside the U.S., per Golf Digest.

MESOTERRANEAN Meso combines Mediterranean flavors with a mesoamerican influence. The Beef Tagliata is a star.

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PLAYA DOBLE

P H OTO G R A P H Y C O U R T E S Y O F A N D A Z C O S T A R I C A R E S O R T A N D F O U R S E A S O N S R E S O R T C O S T A R I C A

Four Seasons Costa Rica at Peninsula Papagayo is flanked by twin beaches and is a short walk from a host of amenities.

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formed by volcanic activity on 1,400 acres of dry tropical forest, Peninsula Papagayo in Guanacaste, Costa Rica, is home to some of the Central American country’s most scenic beaches, luxurious resorts, intriguing restaurants—and an abundance of monkeys. During recent visits, we had the opportunity to experience the Four Seasons Resort Costa Rica and the Andaz Costa Rica, both luxurious options that will not disappoint.

If you opt for Andaz, start with a visit to the ONDA Spa & Wellness Sanctuary. Nestled deep in the jungle that intertwines the 177-key property, the treatment rooms provide views of the lush greenery. The Energize Treatment is the perfect way to decompress and prepare for adventure.

Andaz’s signature restaurant is Ostra, a modern reimagination of traditional local cuisines.

Start with the chicharron, a plate of pulled pork gyoza dumplings, and the Costa Rican croquettes stuffed with roast beef and guacamole cream. For mains, the tico-style shrimp paella and Caribbean snapper filet are top options. Chao Pescao offers tapas-style fare with flavors from various South and Central American countries. Four to six tapas are sufficient for two patrons—the choripan, civeche Puerto Limon, and grilled steak gallos are standouts. Take a boat to Casa de Playa for beachside cocktails and savory dishes.

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If you opt to stay in one of the 25 villas at Andaz, Executive Chef Froylan Ramos will cook a meal for you on site. You can make any request for dinner, but why not go all out and try the Cara Flaca fish? A trip to Costa Rica isn’t complete without a proper coffee tasting. Request an in-villa barista class to learn about the country’s coffee roots and how best to brew a cup of joe.

At the family-friendly Four Seasons, you’ll find twin sand beaches that flank the property. The gentle slope of the seashores and calm waves are perfect for a sunset swim or snorkeling among coral reefs. Both beaches are just a short walk from three levels of pools and six restaurants.

Follow a swim by dining at open-air Bahia or Añejo, with options for kids and adults. For an early evening wine tasting, La Reserva is perfect.

Mirador Beach Club offers beachside Mediterranean fare, but Nemare, located within the clubhouse at the peninsula’s lone golf course—the Ocean Course at Peninsula Papagayo—stole the show with top-notch steaks and stunning views.

The course, which is open to all peninsula guests, boasts dramatic elevation changes. The par 72 is in pristine condition—you could sleep on the lush fairways—and provides breathtaking views of the Pacific. The vistas from holes six, seven, and eight are especially impressive.

Both resorts offer wildlife tours to spot black iguanas, coatimundi, parakeets, and monkeys that inhabit the island. A mango grove near the peninsula’s nature center is an excellent place to find all the above.

The Four Seasons’ rooms overlook either beach, and its private residences are available for rent and dispersed throughout the peninsula, giving guests an immersive natural environment. With howler monkeys aplenty on both properties, there STAYING INLAND is no need for an alarm clock. The Water adventures in the rainforest can world’s loudest land animal will eninclude kayaking, river rafting, sure you are ready for another day canoeing, water of adventure. It’s all part of the Pura biking, and more.

Vida vibe of Costa Rica.

T R AV E L T I P S

Gretchen Frary Seay Embraces the Pure Life Four years ago, Clearsight Advisors Co-founder and Managing Director Gretchen Frary Seay embarked upon her first trip to Costa Rica; she loved it so much she recently purchased a home on Peninsula Papagayo. Her favorite activities include zip lining and paddle boarding.

In terms of fare, she is a regular at Nemare where she indulges in the steaks and savors the tropical fruits she always misses when she’s in Dallas. “Costa Rica embodies the essence of Pura Vida, [the country’s unofficial slogan], a philosophy characterized by simplicity, positivity, and a profound connection to nature,” she says. “I am drawn to the warmth of the local community and inspired by their commitment to sustainability.”—Bridget Reis

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A FATHER’S LOVE

By moving his family to the U.S. Jihane Boury’s father, Tony, changed the trajectory of their lives for generations.

TIES THAT BIND

Boury, shown here as a child, returned to Lebanon after 19 years away and had “extremely emotional” reunions with friends.

CAREER MOVE

Boury shifted to commercial real estate in 2003 when she joined Harwood International.

ROOTS

Vice Chairman, Dallas S AV I L L S

story by LAYTEN PRAYTOR illustration by JAKE MEYERS

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BONDED FOR LIFE

Boury (center) and her two siblings get together with their families every Sunday for lunch, to maintain the close relationship they have.

commercial real estate executive Jihane Boury left Lebanon in October 1985 when she was 17 years old. The civil war between the country’s religious and ethnic factions began when she was six, and she lived in constant fear of missile strikes and snipers. A tennis player growing up, Boury recalls occasions when stray bullets would find a way onto the court. In 1984, her father, Tony—whose employer, Caltex Petroleum, was then based in Las Colinas—decided it was time to move to America. A year passed before the family could depart; their flight took off as the Beirut airport crumbled around the runway.

Here, the vice chairman of Savills’ Dallas-Fort Worth office shares her memories of that takeoff and its lasting impact on her. “My dad’s company had three other cars with us in a convoy to the airport because there were a lot of barricades. Depending on which militant group

stopped the vehicle, you had to have someone who knew them to let you pass. We arrived at the airport after being stopped three times. As we took off, you could see missiles landing all around the airport. There was much panic and many tears, especially from the young passengers. When I got to the United States, I would have recurring dreams that I was being shot at, and I could feel the bullets pierce my body.

Even though I have been shot at, I’ve never been hit. Listening to fireworks is still difficult for me because it brings back these memories. Hearing the whistling and explosions and smelling sulfur sends shivers down my back.”

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P H OTO G R A P H Y C O U R T E S Y O F J I H A N E B O U R Y

JIHANE BOURY

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the STATE of HEALTHCARE A Roundtable Discussion for Businesses Industry experts discuss the role of employers in today’s healthcare system, technology and AI updates, health insurance improvements, and healthcare landscape predictions.

O P E N E R : A D O B E S T O C K ; H E A D S H OT S C O U R T E S Y O F C O M P A N I E S

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THE STATE OF HEALTHCARE

CARY GRACE President & CEO, AMN Healthcare

ANDREW K. LEE, M.D., MPH Radiation Oncologist & Medical Director, Texas Center for Proton Therapy

COLEMAN MOORE Senior Vice President, Commercial Banker, Commerce Bank Dallas-Fort Worth

What role do employers have in the overall healthcare ecosystem, particularly when it comes to cost control, improving health equity, and holding providers accountable for quality outcomes?

ANDREW LEE, M.D.: Employers need to optimize

healthy work environments while also providing appropriate levels of healthcare insurance. Companies should hold their insurance companies accountable, particularly when employees have a self-funded health plan. One of the biggest challenges in oncology around delivering appropriate levels of care and patients returning to work is the relatively stringent policies of some health insurance providers. Overall, employers have significant influence in shaping the healthcare landscape for their employees and communities.

JAMES SPRINGFIELD: Employers have more impact than most folks realize. For perspective, nearly one in two Americans receive their healthcare coverage through an employer-sponsored health benefit plan. Our employer groups are continuing to demand more visibility and control across their healthcare programs and spending. We maintain

overall costs. Providing healthcare benefits and promoting wellness for all employees helps ensure improved health equity. Employer-based health insurance remains a key to ensuring health equity and is foundational to our system.

JAMES C. SCOGGIN, JR.: All employers who are major healthcare providers should, as an employer, share the same priorities of any employer, while also holding themselves accountable, as healthcare provider, for outcomes. Employers can steer improvements in healthcare affordability, access, and quality for their workforce by influencing cost control through benefit design, wellness programs, and collaborating with providers. Health equity can be addressed by offering comprehensive benefits, including mental health support and preventive care, and addressing disparities in access. Through designing meaningful quality measures and incentives, employers and providers can work together to offer superior care while achieving positive outcomes.

COLEMAN MOORE: Employers are one of the largest payers in the healthcare ecosystem, especially when you consider the majority of Americans receive their healthcare coverage through an

“Employers need to optimize healthy work environments while also providing appropriate levels of healthcare insurance."

JAMES C. SCOGGIN, JR. Chief Executive Officer, Methodist Health System

JAMES SPRINGFIELD President, Texas Plan & Senior VP, Markets, Blue Cross and Blue Shield of Texas

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AN D R EW L EE, M .D.

an open-ended relationship with them to identify opportunities for them to control costs and improve health outcomes by promoting preventive care, encouraging relationships with primary care providers, and expanding benefits that help employees meet basic needs. Additionally, employers, along with payors and providers, are part of the combined effort to advocate for quality outcomes.

CARY GRACE: Employers have a strong vested interest in contributing to the health and well-being of their employees. This is particularly true today when many people are reassessing where, when, and how they work. By providing pathways to better health, through wellness programs, emotional and family support and other channels, employers can enhance employee satisfaction and retention. In the larger context of the healthcare system, better employee health, with an emphasis on prevention, also reduces utilization of expensive, interventional services and thereby reduces

employer-sponsored health benefit plan. Employers interested in moving the needle for their employees can continue to focus on more proactive and preventive approaches to healthcare, such as behavioral health, more in-depth maternal healthcare, IVF coverage, etc. These are benefits that few employees have access to through their current employee benefits plans.

ANTHONY PLACENCIO: Employers have the ability to influence costs by selecting plan designs, such as high deductible health plans that make employees more cost conscious on how they spend on their health. The employee’s cost share of an employer sponsored family plan has increased to 65% since 2010, based on the 2023 Kaiser Family Foundation Employer benefit survey. Employers can influence the types of benefits their employees receive, such telehealth visits, mental health coverage, or access to preventive health services, which could act as a catalyst for employee

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retention. Broadening access to these types of services can improve disparities in health equity and can bend the cost curve downward over the course of time.

Consolidation continues to be a factor in the healthcare industry, beginning with hospitals but moving into primary care and specialty practices. What are the pros and cons of continued consolidation in the market?

CARY GRACE: The need for consolidation in provider settings has been driven by the need for efficiency and cost pressures. Managing broader requirements and cost burden becomes impossible for individual entities, especially as healthcare becomes increasingly technology enabled. Economies of scale continue to push for consolidation in healthcare. Many times, the goal of consolidation

priate mechanisms in place to establish and support physician organizations that are employing or otherwise making available to the community more primary care and specialty practices. While there are certainly challenges to the increased physician employment trend, at least health system and physician interests are more aligned around the patient care delivery model. Relative to consolidation of physician practices within venture capital and private equity, the industry is experiencing too many examples of bankruptcies and dissolutions which can be destabilizing within a market.

ANTHONY PLACENCIO: Some of the trade-offs may include expansion of specialty and primary care services that certain communities did not have access to before a merger of two organizations and enabling better technology utilized in the care of services. This helps combat the access issues that

“The future of healthcare delivery combines people and advanced analytical capabilities, which creates a responsible form of augmented intelligence.”

JAMES S P RIN G F I E L D

“Employers can influence the types of benefits their employees receive, such telehealth visits, mental health coverage, or access to preventive health services, which could act as a catalyst for employee retention.”

ANTHONY P L AC EN C I O

is to increase efficiency and care coordination and thereby achieve better outcomes at a lower cost. This is easier said than done, but ultimately helps create more efficiencies when the incentives are aligned in these consolidations. Partnerships between healthcare payors, providers, and service providers like us are key in developing these ecosystems. There is a definite benefit to patients when their medical histories, primary care, and specialty care are all housed and coordinated under one umbrella. This eliminates the fragmentation and inefficiency we have seen in the past.

Caregivers need to continue to be at the heart of the new models in delivering care. Doctors, nurses, and other healthcare professionals will always be the foundation for strong healthcare delivery.

JAMES C. SCOGGIN, JR.: At the health system level, consolidation is quite mature in North Texas.

One positive is hospitals that might otherwise have closed remain viable due to the support of a larger system. All health systems have appro-

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exist in healthcare. The cost of care is always a concern for many when mergers occur and fear of communities will see higher costs association with the care provided, post-acquisition.

ANDREW LEE, M.D.: Consolidation of healthcare may allow more cost-effective optimization of existing resources. However, it may also result in more difficult access to healthcare for patients in remote areas and could stifle competition and subsequent innovation. Balancing these factors is crucial for ensuring positive outcomes for both patients and providers.

JAMES SPRINGFIELD: I have an extensive hospital background, so in that space there were claims from private equity or other healthcare industry firms involved in merger and acquisition activity that consolidation would result in generating greater efficiencies, lowering costs, and more coordinated patient care. However, typically consolidation results in high healthcare prices, skewed market power, and decreased competi-

tion of health systems. Our members deserve 360-degree, whole-person care, and employers are already facing inflationary and recessionary pressures, so we have a duty to stand up for affordable, quality care.

COLEMAN MOORE: A benefit of such consolidation includes those practices that merge with multi-specialty providers, which can offer patients accelerated diagnostics and treatment options, often within the same location. In addition, consolidation can help providers operate more efficiently, which is a huge benefit to patients who live in underserved areas. A resulting drawback to consolidation, however, is that some healthcare consumers may have fewer options. When there are fewer competitors, consolidation may sometimes drive up prices as well.

How is artificial intelligence and specifically large language modelbased models impacting how healthcare is being delivered?

JAMES C. SCOGGIN, JR.: AI is already impacting care delivery today, most notably in clinical care and administrative workflows. There have already been AI-driven imaging tools deployed for rapid detection of stroke and cancers and Intelligent Process Automation assisting with routine billing office tasks. Next up are AI-automated voice driven clinical notes. The possibilities for AI are unlimited but pose challenges of validity and responsible use. Hence, healthcare providers should focus on proven solutions to help solve targeted problems. AI should work for healthcare providers on behalf of their patients and caregivers and not the other way around.

ANDREW LEE, M.D.: The oncology space has yet to see a large impact from artificial intelligence or large language model-based models. Within proton therapy, AI is used as part of the treatment planning process to help the radiation oncology team better define tumor targets as well as identify the normal tissues that should be spared from radiation. There is growing research and utilization of AI to optimize radiation treatment planning.

ANTHONY PLACENCIO: One specific issue AI and LLM tools are addressing in healthcare is physician burnout. We have helped systems utilize these tools to augment the patient message response process and drastically reduce the amount of time it takes a physician to respond to a patient message, saving a significant amount of administrative time that can improve margin and create better patient outcomes. AI adoption in healthcare will expand rapidly due to the data trove that

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exists in healthcare. Healthcare data represents 30% of the world’s data, according to a report by RBC markets.

CARY GRACE: AI is impacting healthcare in several ways, and we have been using AI-enabled technology in both our workforce solutions and increasingly to automate our company. Primary among them are: • Work automation and aids to make care more effective and improve the healthcare experience for both patients and clinicians • Forecasting and prediction accuracy—both on the logistics side and for enhancing the patient journey and projecting patient needs • Clinical applications, particularly diagnostics, where AI is assisting radiologists and other clinicians to be more effective in direct patient care.

As we look to implement and then scale AI applications in healthcare, we must ensure that those applications are truly creating a net positive experience, outcome, or reduction in cost and friction. AI already is a game changer in workforce management and provider job satisfaction, and we are just scratching the surface.

JAMES SPRINGFIELD: The future of healthcare delivery combines people and advanced analytical

COLEMAN MOORE: Price transparency is important. We’ve all heard and seen ways that some patients must cut corners to manage their healthcare expenses, sometimes going as far as missing annual exams or rationing medications. Patients should be able to know how much a procedure costs in advance of scheduling it. To ensure patients understand how much they will pay, cost estimator tools should be readily available and show accurate ranges.

ANDREW LEE, M.D.: Increasing price transparency and reducing surprise billing can empower patients to make more informed healthcare decisions and protect them from unexpected financial burdens. Many services and treatments provided in a hospital-based setting are billed at a higher rate than the same services provided at a freestanding center. This does not necessarily translate into higher quality care or a higher level of expertise. Policymakers can enforce stricter regulations and penalties for noncompliance, incentivize providers to adopt transparent pricing practices, and invest in consumer education to raise awareness around healthcare costs and billing practices. Price transparency and minimization of surprise billing should become the norm.

“Private equity is bringing an increased amount of new capital to healthcare providers, helping to introduce innovative ways to deliver care and bend the cost curve, which are benefits.”

COLEMAN M O O R E

capabilities, which creates a responsible form of augmented intelligence. To be clear, we are keeping the human element in the work we do as we utilize AI to lead and innovate. We are focusing our efforts on using AI to augment human judgment but not to replace it. We’re deploying AI in elements across our business, from claims processing and clinical operations to member and provider engagement and retention and have seen a positive impact on how efficiently we can support our members and healthcare provider partners.

There has been federal pressure to increase price transparency and reduce surprise billing for patients, with many hospital systems and providers slow to integrate or resistant to change. Are these changes worthwhile, and what can be done to speed them along?

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JAMES SPRINGFIELD: Price transparency and

knowing how much a procedure or visit will cost makes healthcare easier to understand. We encourage providers to be timelier and more transparent with their patients about costs, including posting prices.

JAMES C. SCOGGIN, JR.: All major healthcare systems should be advocates for their current and future patients and support the efforts for healthcare pricing transparency. For example, in 2019, Methodist launched a self-service, patient-facing cost estimation tool online, and since then has continuously generated individualized patient estimates of out-of-pocket costs regardless of a patient’s insurance status. It is important to assist patients in their understanding of the potential financial liability before services are performed and work to encourage current and future patients to request an estimate for any hospital procedure/service/test by accessing online

Price Estimate Tools, Price Transparency Files, or meeting with facility financial counselors by phone or in person.

What is one change you would make to the healthcare system to impact unsustainably rising costs? Why? JAMES SPRINGFIELD: The healthcare industry is long overdue to shift away from the fee-for-service world to one that incentivizes value, quality, and outcomes. But that cannot happen without meaningful collaboration between payers and providers. A path we must consider is moving toward supporting doctors as much as we support health systems, which means contracting directly with independent physicians so their patients and our members can access care at affordable rates.

To contain the rising costs of healthcare for our members, we must empower physicians so they can make healthcare decisions that match the needs of their patients.

ANDREW LEE, M.D.: One of the largest impacts to healthcare optimization and cost of care have been the prior authorization requirements and the utilization of third-party benefit review organizations by payors. These factors have increased the time to care delivery and negatively impacted the overall quality of care across the healthcare landscape, while providers cope with greater administrative costs and patients grapple with unclear benefits. Revising the prior authorization and review process on a large scale would save time and improve quality, particularly important considerations when fighting cancer.

CARY GRACE: There is no one tweak we can make or button we can push to address unsustainable costs in healthcare. This is a societal problem.

We have a growing and aging population that engages in many unhealthy lifestyle habits and choices, creating huge needs that are costly to address. We are a healthcare workforce company, so I would like to see the continued focus on new workforce models to address expected shortages of healthcare providers as our population ages. We are innovating on these models with our clients to help them use data, analytics, and technology automation to ensure they have the right caregivers when and where they need them.

COLEMAN MOORE: While there are multiple solutions to decrease the rising cost of healthcare such as the reduction of administrative costs, increased outpatient care and controlling prescription prices, a major change to impact rising costs would be to also focus on preventive care. Changing from disease management to prevention will take an

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ongoing shift of the current model from providers, payors, and consumers.

ANTHONY PLACENCIO: The recent cybersecurity breach at Change Healthcare serves as a stark reminder of the vulnerabilities within the healthcare data transfer ecosystem. This attack exposes the inherent risks associated with the supply chain and underscores the need for robust business practices to mitigate cyber threats. However, the path toward improved security presents a compelling opportunity for healthcare organizations. By implementing stricter third-party vendor management protocols, strengthening enterprise risk programs, and refining ransomware response plans, significant cost reductions can be achieved.

Additionally, enhanced security practices can lead to improved consumer retention as consumers become more confident in how their data is protected. This, in turn, can translate to higher margins for healthcare providers.

How does the Dallas-Fort Worth healthcare business community differ from other major regions across the country? What are our competitive advantages and differentiating factors?

CARY GRACE: We are a large, growing area with

ANDREW LEE, M.D.: Dallas-Fort Worth offers a robust infrastructure that includes a leading-edge healthcare landscape. Dallas-Fort Worth benefits from a diverse economy, drawing talent and investment from various industries. There is a favorable regulatory environment and low cost of living compared to some other major healthcare hubs, making it an attractive location for businesses. Strategically locating a hub in the center of the country enhances accessibility and connectivity, which helps to facilitate the distribution of healthcare services and products nationwide JAMES SPRINGFIELD: Dallas-Fort Worth is a strong and competitive region with explosive growth and a large business community. Six of the 25 largest employers in North Texas are in the healthcare industry, and health systems, insurance, and other subsectors represent about 15% ($52 billion) of the regional economy, according to the Dallas Regional Chamber. Compared to other major regions, Dallas-Fort Worth boasts a robust network of healthcare providers, innovative medical technologies, academic healthcare institutions, and a favorable regulatory environment.

JAMES C. SCOGGIN, JR.: Several factors that contribute to the healthcare business community in North Texas are a strong economy, robust popu-

“Employers can steer improvements in healthcare affordability, access, and quality for their workforce by influencing cost control through benefit design, wellness programs, and collaborating with providers.”

JAMES C. SCOG G I N , JR .

many employed, insured patients—and a lot of competition for these patients. Unlike some markets, we are experiencing growth, with multiple hospitals under construction. We have the advantage of being a desirable area attractive to healthcare professionals. Dallas-Fort Worth has become a national healthcare hub and is in an enviable position and we feel very fortunate to be headquartered here and an active partner in the health and wellbeing of the Dallas-Fort Worth community.

ANTHONY PLACENCIO: There is a thriving healthcare hub in Dallas-Fort Worth. There are world class children’s hospitals, academic medical centers, modernized safety-net hospitals, and a sizable health-tech hub that when woven together, spurs impactful innovation that creates better patient outcomes for the Dallas-Fort Worth area that is unrivaled when compared to other majority cities and communities.

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lation growth, biotech development, expanding workforce, and growth of new start-up corporations and existing corporations relocating to Dallas-Fort Worth. Businesses, including healthcare, can innovate and plan for success rather than just maintaining and surviving. It is also impressive in many areas of Dallas-Fort Worth that the planning that has gone into infrastructure to support the growth that is occurring. A major concern is the number of uninsured in Dallas-Fort Worth and Texas. One change to lift all boats would be expanding Medicaid.

COLEMAN MOORE: With several large health systems covering a broad swath of our geography, we are very fortunate in Dallas-Fort Worth to have access to world-class healthcare and critical subspeciality providers. That said, we are experiencing unprecedented growth in the region, and there are underserved areas and populations. Our incredible healthcare resources should be widely

accessible. Additionally, there is a shortage of behavioral health resources, just as there is in other areas of the nation. To maintain our reputation for world-class healthcare, more behavioral health options would be beneficial to Dallas-Fort Worth.

What is one healthcare innovation you can see having a major impact in the next five years?

ANDREW LEE, M.D.: Healthcare is seeing continued

improvements in refining treatments for a given level of disease, especially in cancer. This allows us to match the appropriate level of therapy for any given stage of cancer. We are learning and making improvements at a higher rate than ever before, allowing us to optimize care on an exceedingly personalized level.

JAMES SPRINGFIELD: In a fragmented system, I’ve seen that technology innovation has been an impactful tool to help keep members and customers in control of their benefits and health journey as the consumer market is changing. For example, we offer Collective Health’s integrated solution, which provides a single digital platform that enables self-funded employers to administer benefits, reduce workload, manage costs, and help manage the health of their people in one place.

For members, it enhances navigation, providing a personalized experience with products and features that make it easier to understand and manage their healthcare, from wherever they are.

CARY GRACE: Technology. New uses of technology are a resource across all aspects of healthcare that will likely prove transformative in how we predict patient needs, diagnose problems, achieve better outcomes, and more efficiently manage the workforce. It is a high-tech way of achieving a high-touch result. It does require system interoperability and seamless connections to be effective. Technology innovation already has had a major impact on how AMN Healthcare delivers for our clients, and I am excited to see how it will impact the healthcare system as a whole.

ANTHONY PLACENCIO: The healthcare industry faces a multitude of headwinds, including rising administrative burdens, physician burnout, health disparities, and an ever-increasing number of payment denials. These challenges are rapidly outpacing the growth of the healthcare workforce, creating a critical need for innovative solutions. In this context, generative AI emerges as a powerful tool for positive disruption within the healthcare ecosystem. This technology has the potential to address several of the industry's most pressing issues. For instance, generative AI can be used to

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automate administrative tasks, freeing up valuable time for physicians. Additionally, it can be employed to develop automate prior authorization protocols and can help increase the access and timeliness of patient-centered care.

How has the trend of care moving out of the hospital and into the home impacted your business?

JAMES C. SCOGGIN, JR.: The business impact has been minimal to date. However, over time cost pressures from payers, technology advancements, and patient/family preference will determine the ultimate destination of in-home care. Hospital at Home is a complex process and requires large dollar investments in monitoring technology, staffing, and workflow design as well as development of the program to your patient population. The Centers for Medicare and Medicaid Services (CMS) has, as of April 2024, not extended the waiver which allows hospital at home to operate with payments from CMS past 12/31/24. The American Hospital Association is pushing hard for CMS to extend the

ous barriers to healthcare access. Trends show consumers like the convenience factor of care in the comfort of their home because members want access to the right care, in the right place, at the right time. That could look like members calling our nurse line at midnight, seeking virtual primary care or behavioral health visits, or scheduling a routine surgery with their provider at an outpatient facility.

COLEMAN MOORE: Removing barriers for patients to receive the care they need is important, and home healthcare is becoming a more widely embraced method for helping achieve that goal. In many cases, home healthcare can be a more affordable model than receiving treatment within a hospital. In addition, patients who live alone or who don’t have the required support systems they need for transportation to their healthcare provider can recover at home instead.

CARY GRACE: AMN Healthcare is a workforce solutions company, and our mission of empowering the future of care is aligned with the continued transformation in healthcare around how and

“Employers have a strong vested interest in contributing to the health and well-being of their employees. This is particularly true today when many people are reassessing where, when, and how they work.”

CARY GRAC E

waiver and make reimbursement permanent for this type of care, which is essential to expanding these services.

ANTHONY PLACENCIO: We’ve seen this trend in the healthcare industry positively impact consumers and employees as care providers and home recovery care companies collaborate to enhance and improve the care for consumers at the convenience of their home. Hospitalization or recovery at home programs enable consumers the ability to recover more efficiently at home than in a hospital setting and can help reduce the burden care teams in a hospital setting. This may allow consumers in the workforce to get back on their feet and working sooner than if care was completed in a hospital setting. We know this trend will continue to accelerate given $265 billion of Medicare services could be delivered in the home by 2025. We would expect commercial carriers to move in this direction as well.

JAMES SPRINGFIELD: Technology is shaping how we expect to receive care and removes numer-

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where healthcare is delivered. Each of these settings needs highly skilled, credentialed, and caring clinicians and supportive people to deliver care and care for patients. With our workforce technology solutions and global network of clinicians, we can make sure that happens across settings, geographies, and situations. The transition to home healthcare and outpatient venues is another opportunity for us to evolve as our clients evolve but does not change the fundamentals of what we do.

How has the increase in private equity coming into the healthcare market impacted the industry and how it provides care?

COLEMAN MOORE: Private equity is bringing an

increased amount of new capital to healthcare providers, helping to introduce innovative ways to deliver care and bend the cost curve, which are benefits. However, the traditional private equity model also focuses on profit generation, reducing

expenses and improving margins which could result in higher costs for patients over the long term.

JAMES SPRINGFIELD: There’s been a stealthy influx of private equity firms in the market, and these companies don’t always advertise their ownership. These firms are amassing high market shares in local physician practices, and Texas even has the most private equity-owned hospitals in the U.S. While private equity has added capital for innovation and expansion, it unfortunately also introduces profit motives, which can driveup healthcare costs while overshadowing better health outcomes and patient safety. As a member-owned organization, we stand for affordable, quality care for our members so there needs to be increased attention to the competition impacts of private equity.

CARY GRACE: Private equity has driven new investments broadly across the healthcare industry, both in where care is provided and how care is provided. The successful investments have driven innovation and efficiency while keeping patient care and quality outcomes at the center. In a world of limited supply of healthcare professionals, a proliferating number of entities are competing for a limited group of workers, potentially affecting turnover and worker volatility in the future.

JAMES C. SCOGGIN, JR.: The impact of private equity on how the industry provides care is evolving and something to be monitored carefully. Healthcare is complicated, capital and labor intensive, and relational. The requirement for higher and more rapid investor financial returns can be underestimated and consequently detrimental.

What are the most serious risks facing healthcare systems and providers?

COLEMAN MOORE: Data theft and cyber breach-

es rank very high on that list. Between January and the first week of March 2024, there were 116 healthcare data breaches impacting more than13 million Americans.* Education starts with the workforce, making sure employees don’t accidentally click on a link or fall for a phishing scam. Also, digital transformation offers long-term strategies to help healthcare providers avoid these risks, which includes improving payments technologies and better managing refunds to patients and insurers. Working with a banking institution focused on healthcare means you have a partner to help analyze risk and drive value. *Bailey, Victoria (2024, March 14). Healthcare data breaches are piling up 3 months into the year. (https://healthitsecurity.com/news/healthcare-data-breaches-are-piling-up-3-months-into-the-year)

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Best in the nation for commitment to patient care, community health, and innovation.

Methodist Health System is proud to be named the first Health System of the Year by Press Ganey, a healthcare leader working with 41,000 facilities nationwide to enhance the experience of patient care.

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Honoring a legacy of serving our friends and neighbors for nearly a century.

And, looking toward a future where we continue to advance the healthcare experience for all. That’s community and why so many people Trust Methodist.

Congratulations to the entire Methodist Health System team.

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*Press Ganey’s HX24 Health System of the Year award recognizes healthcare systems dedicated to improving the human experience of healthcare. Texas law prohibits hospitals from practicing medicine. The physicians on the Methodist Health System medical staff are independent practitioners who are not employees or agents of Methodist Health System or any of its affiliated hospitals. Methodist Health System complies with applicable federal civil rights laws and does not discriminate on the basis of race, color, national origin, age, disability, or sex.

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PART OF THE PAST

Dallas’ First Women’s University

All that remains of the St. Mary’s College of Dallas campus is its chapel, which is still in use today.

D

story by CELIE PRICE

allas opened its first higher education institution for women, st.

Mary’s College at Dallas, in 1889, with 76 students in its inaugural class. Rev. Alexander C. Garett founded the college as bishop of the Protestant Episcopal Church in the Diocese of Dallas. He was an Irish immigrant who moved to the U.S. in 1870 and remained the bishop in Dallas until his death in 1924 at age 92. In addition to his duties with the church, Garrett taught astronomy, logic, and psychology. The school offered Bachelor of Arts and Science degrees for its students and a Master of Arts program. Its Victorian Gothic-style school was built on North Garrett Avenue in East Dallas. St. Mary’s continued to grow and add buildings through the early 20th century on its 20-acre campus, nicknamed “College Hill.” By the 1920s, the school had become an accredited junior college when higher education for women was rare. The vestry of St. Matthews Episcopal Cathedral voted to move its congregation to the college and assume the school’s debts in 1927, but the stock market crash in 1929 forced St. Mary’s to cease operation in the summer of 1930. The university’s main building was demolished in 1948, but its chapel was expanded and preserved and is actively used as St. Matthews Cathedral today. The college’s impressive alumni include writer and suffragist Margaret Bell Houston, sculptor Clyde Giltner Chandler, and Claudia Taylor, who would later be known as Lady Bird Johnson.

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