February 23, 2007
UW Business School to create new entrepreneurship program with gift from Leonard Lavin
The University of Washington Business School announced today that Leonard Lavin, founder and chairman emeritus of the Alberto-Culver Company, has donated $2 million to establish the Leonard and Bernice Lavin Entrepreneurial Action Program.
“The Lavins’ exceptionally generous gift will strengthen the Business School’s reputation as one of the nation’s premier centers for entrepreneurship studies,” said Dean James Jiambalvo. “This new program will help attract top students with entrepreneurial aspirations and produce graduates with the drive and skills to succeed. He is truly a living legend in marketing and advertising.”
The goal of the program is to produce a new generation of successful entrepreneurs from the UW Business School. Lavin, who attended the UW prior to serving in the navy during World War II, has received numerous awards for his philanthropic, civic and business endeavors. In 1993, he was inducted into the Merchandising Executives Club Hall of Fame. In 2001, he was awarded an honorary master’s degree in business administration from the UW.
“More than any other question I am asked, people want to know if we could do now what we did starting in the mid-fifties in terms of building a great company,” said Lavin. “I’d certainly like to think we could, and I think it is essential for the future competitiveness of America for individuals with dreams and ideas to be able to turn those into successful businesses. We want to help give others a chance to realize the success Bernice and I have enjoyed. We hope Dean Jiambalvo’s new program becomes a hallmark for real world education at the University of Washington.”
The program will be administered through the School’s Center for Innovation and Entrepreneurship, which helps foster student entrepreneurs, providing them with direct access to mentors from the business community and superb networking opportunities. Special field trips, lecture series and internships will be a part of the Lavin Entrepreneurial Action Program. Twenty-five undergraduate students will be admitted to the program each year beginning in fall 2008.
Alberto-Culver was founded in 1955 when Leonard Lavin and his wife Bernice purchased a small beauty supply company on the West Coast. The company’s flagship product, Alberto V05 Conditioning Hairdressing, had developed a strong following among Hollywood stylists. Lavin took that product to the consumer marketplace using innovative advertising and taking risks. Today, Alberto-Culver (NYSE: ACV) is a global marketer with a broad range of beauty, personal care and household products and sales approaching $1.5 billion.
Lavin is now chairman emeritus of the board and a director. The company operations are directed by the Lavin’s daughter, Carol Lavin Bernick, who is executive chairman. In addition to its product successes, the company has often been cited for its innovative cultural and values initiatives. Alberto-Culver is based in Melrose Park, IL, a suburb of Chicago.
The Lavins are also actively involved in the breeding and racing of thoroughbred horses from their Glen Hill Farm in Ocala, Florida.
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For more information, contact Jiambalvo at (206) 543-9132 or jjiambal@u.washington.edu; or Lavin through Daniel Stone, vice president, corporate communications, (708) 450-3005; or dstone@alberto.com.
