Who is the man behind the namesake of Kelley School of Business? Learn about the impressive philanthropic legacy of E.W. Kelley, entrepreneur, and Steak ‘n Shake leader.
The Kelley School of Business (KSB) at Indiana University boasts a long and distinguished history spanning more than a century. Its curriculum not only imparts a solid foundation in business principles but also fosters critical thinking, leadership skills, and a global mindset.
Located in Bloomington and Indianapolis, two cities in the US state of Indiana, KSB offers its students unique advantages through its metropolitan setting. This proximity provides valuable connections to prominent Indiana organizations. The business school’s extensive alumni network offers fertile networking and career advancement opportunities. The school offers various master’s programs, including Finance, Healthcare Management, and a Master’s in Information Systems.
Established in 1920 as the School of Commerce and Finance, Indiana University business school underwent three name changes. In 1933 it became the School of Business Administration, in 1938 the name was changed to simply the School of Business, and in 1997 the school was renamed in honor of its alumnus E.W. Kelley and became the Kelly School of Business.
E.W. Kelley had given the school $23 million to enhance its resources, expand its programs, and recruit top-notch faculty. Let’s find out more about this generous donor and his philanthropic motivations.
Estel Wood Kelley (1917–2003) was a businessman and philanthropist commonly known as Ed Kelley. Kelley held a number of prominent executive positions in the food industry. He worked for notable companies like Standard Brands and General Foods. Kelley played a significant role in bringing many popular American grocery items to market, such as Cool Whip, Smirnoff vodka, A-1 Steak Sauce, and Tang lemonade.
In 1981, the ownership of the famous fast food chain Steak ‘n Shake was transferred to E.W. Kelley and Associates, an investment group Kelley established. He led Steak ‘n Shake for decades and expanded the restaurant chain from 125 to 412 locations.
Kelley’s commitment to philanthropy created opportunities to improve the quality of life in his hometown, Sharpsville, Indiana, and beyond. His donations to Indiana University Kokomo created the Kelley Student Center, Kelley House, the library building, and the E.W. Kelley Scholarship fund. His donations were motivated by his belief in the uplifting power of education.
There are no current plans to change the name, but if the Kelley School of Business ever wanted to change its name for a fourth time, what other alumni could it choose as its namesake? Let’s take a look at some of the best candidates.
John T. Chambers is a renowned American businessman who was the CEO and executive chairman of Cisco Systems, a leading tech giant. He graduated with from the Kelley School of Business with an MBA in 1975, Chambers joined Cisco in 1991 and quickly ascended to the CEO position. His supervision drove innovation through acquisitions and partnerships, propelling Cisco into a global networking and communications leader.
Chambers retired in 2017 after shaping Cisco’s success and contributing to the digital transformation of businesses worldwide.
Mark Cuban, a self-made billionaire and entrepreneur, graduated from the Kelley School of Business in 1981 with a Bachelor of Science in management. From a young age, he sold garbage bags, traded stamps and coins, and sold newspapers during a strike when normally deliver ceased.
Cuban chose Kelley School of Business for its affordable tuition and pursued multiple business ventures in college. His ownership of the Dallas Mavericks, his role as a “shark” investor on the TV show Sharktank, and his philanthropic endeavors have made him an inspiring figure for aspiring entrepreneurs worldwide.
Alicia Boler Davis, an accomplished American engineer and businesswoman. She kick-started her career at General Motors, steadily advancing to global manufacturing executive vice president. While at GM she earned her MBA from Kelley.
In 2019, Boler Davis joined Amazon as senior global customer fulfillment vice president. At Amazon, she oversaw the company’s response to the business threats posed by COVID-19. She achieved a remarkable milestone as the first Black executive to join Amazon’s senior leadership team.
Currently, she is the CEO of Alto Pharmacy. This digital pharmacy startup boasts impressive figures of approximately $1 billion in revenue and a workforce of 1,200 employees. This new chapter in her career further solidifies her reputation as a trailblazer in the industry.
The Kelley School of Business aims to shape future leaders, drive growth, and make a meaningful societal contribution through strategic partnerships. Committed to research and experiential education, the institution leads in shaping the future of business education and impacting the global business community.
