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Jeffrey R. Immelt

Keynote

Jeffrey R. Immelt
Chairman and CEO, General Electric

Jeffrey R. Immelt '78 is chairman of the board and chief executive officer of GE. Appointed on September 7, 2001, he is the ninth chairman in the company's 126-year history. Previously Mr. Immelt was president and CEO of GE Medical Systems, which is today a $12 billion leader in the health-care industry.

Mr. Immelt began his GE career in 1982 and has held a series of global leadership roles in GE's plastics, appliance, and medical businesses. He became an officer of GE in 1989, and joined the GE Capital board in 1997. He was the Financial Times's "Man of the Year" for 2003.

He serves on the board of two nonprofit organizations: Catalyst, devoted to advancing women in business; and Robin Hood, focused on addressing poverty in New York City.

Mr. Immelt holds a BA in applied mathematics from Dartmouth College (1978) and an MBA from Harvard University (1982). He and his wife, Andrea, have one daughter.

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Opening Remarks

Gregg Fairbrothers '76
Gregg Fairbothers '76 is founder and executive director of the Dartmouth Entrepreneurial Network (DEN). For more than twenty years, he founded, built, and managed oil and gas exploration and production companies on three continents, most recently serving as president of Samson International, Ltd. Since returning to the Upper Valley in 1999 he has been involved in a variety of start-ups, including several with faculty of the Tuck School. Those partnerships led Fairbrothers to propose DEN, the entrepreneurship support initiative for Dartmouth and its professional schools.


Honorable Craig R. Benson
Craig R. Benson is governor of New Hampshire and an ex officio trustee of Dartmouth College. In 1983, he co-founded Cabletron Systems, an infrastructure solutions company based in Rochester, New Hampshire, and for sixteen years served as its chairman, chief executive officer, president, and director of operations. By 1988, Cabletron was ranked sixth on Inc. magazine's list of the fastest-growing, privately held companies in America and in 1991 Benson was named Inc.'s "National Entrepreneur of the Year." He left Cabletron in 1998 to enter politics and was elected governor in 2002. Benson received his BA from Babson College and MBA from Syracuse University. He lives in Rye, New Hampshire, with his wife, Denise, and their two daughters.

James Wright '64A
James Wright '64A is the sixteenth president of Dartmouth College. A veteran academic administrator and noted historian, he has spent more than thirty years in higher education. Wright joined the faculty of Dartmouth's history department in 1969. Prior to becoming president in 1998, he chaired a succession of key committees at the College, including the committee that proposed changes in the undergraduate curriculum that led to a comprehensive overhaul in 1993. A specialist in American political history, he is the author or editor of five books. Wright received a BS from Wisconsin State University-Platteville and an MA and PhD in history from the University of Wisconsin at Madison. He is married to Susan DeBevoise Wright.

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Moderators and Panelists

Bill Achtmeyer
Michael Barach
Colin Blaydon
Larry Bridges
Dana Callow
Mike Carusi
Jeffrey Citron
Tim Craycroft
Bob Cronin
Don Drakeman
Gregg Engles
Phil Ferneau

Bob Fleming
Peter Georgiopoulos
Mike Gonnerman
Dick Green
David Holveck
Michael Horvath
Alan Kirby
Scott Kirsner
Blair LaCorte
Steve Lazarus
Sean Mahoney
Rob McGrath

Jeff McKinnon
Dave Morse
Bob Molinari
Tom Naughton
Amanda Reed
Bryan Roberts
Mark B. Stein
Rob Utzschneider
Fred Wainwright
David Weld
Barbara Yanni

 

Bill Achtmeyer TU'81
William F. Achtmeyer TU'81 is chairman and managing partner of The Parthenon Group, which he co-founded in 1991. A business consultant for more than twenty years, he has advised chief executive officers from corporations such as Goldman Sachs, the McGraw-Hill Companies, Saatchi and Saatchi PLC, and Starwood Hotels and Resorts on corporate strategy. Previously, Achtmeyer was a director of Bain & Company, responsible for its worldwide mergers and acquisitions practice. He also led Bain's North American business development. Achtmeyer is chairman of the Board of Overseers of Tuck School and president of the board of Lawrence Academy. He holds an AB from Princeton University and an MBA from Tuck School.

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Michael Barach

Michael I. Barach is a general partner of Village Ventures, a fund focusing on early stage investments in underserved geographic regions. He directly oversees three regional funds: Long River Ventures in central and western Massachusetts, High Peak Ventures in upstate New York, and Inflexion Partners in central Florida. Previously, Barach was chief executive officer and president of Mothernature.com, where he raised $113 million with three private rounds of capital raising and an IPO. He was also a partner at Bessemer Venture Partners, specializing in telecommunications, retail, and electronic commerce. Barach earned a BA summa cum laude from Amherst College, where he was Phi Beta Kappa, and a JD and an MBA from Harvard.

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Colin Blaydon

Colin Blaydon is the founding director of the Tuck Center for Private Equity and Entrepreneurship. He is also dean emeritus at Tuck and the William and Josephine Buchanan Professor of Management, teaching entrepreneurship, corporate governance, and private equity finance. His research interests include private equity finance (both venture capital and buyout) and strategy and governance of firms providing or receiving private equity financing. Formerly on the faculties of Harvard and Duke Universities, Blaydon has also worked at the Defense Department and Federal Budget Office and as an executive at a number of private-sector firms. Blaydon received a BEE from the University of Virginia, and an AM and PhD in applied mathematics from Harvard University.

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Larry Bridges TU'79

Larry E. Bridges TU '79 is president and chief executive officer of Red Car, Inc., an editing and design boutique he founded in Los Angeles in 1982. He started as a film editor, then in 1988 became a director. Two of his commercials that year made Advertising Age's annual top 100, and the following year he was named "Best Advertising Auteur" by Connoisseur magazine. Since then, he has worked with top advertising agencies and directed a feature film. Bridges also founded the AVA network, an internet-based facility enabling creative talent worldwide to collaborate, regardless of where they are. He received an undergraduate degree in English from Stanford and an MBA from Tuck School. Bridges lives in Los Angeles with his wife, Elizabeth, and daughter, Melanie.

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Dana Callow TU'79

A. Dana Callow Jr. TU'79 is founder and managing general partner of Boston Millennia Partners. He is also a director of a number of public and private companies and a member of the advisory board and the executive committee of Tuck's Center for Private Equity and Entrepreneurship. Callow co-founded Boston Capital Ventures after working as a senior consultant at Braxton Associates, an international strategic planning firm formed by professionals from Boston Consulting Group and Bain & Co. Previously, he worked with Fortune-100 companies in strategic planning and implementing merger and acquisition strategies. Before becoming a management consultant, Callow worked in sales and marketing and was an application engineer for the Tymshare, Inc. (McDonnell-Douglas), software division. He received his BA from Tufts University and his MBA from Tuck School.

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Mike Carusi TU'93

Michael Carusi TU'93 has been general partner of Advanced Technology Ventures since 1998. He provides leadership and insight for emerging companies in the life sciences and medical device sectors. ATV's health-care portfolio benefits from his significant domain expertise and strong industry relationships, a result of ten years of experience in operations and management consulting. Prior to joining ATV, Carusi served as director of business development for Inhale Therapeutic Systems, a venture-backed pulmonary drug delivery company that went public in 1994. He was also a principal at the Wilkerson Group, a strategic ATV partner and leading management consulting firm focused on health care. Carusi has a BS in mechanical engineering from Lehigh University and an MBA from Tuck School.

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Jeffrey Citron

Jeffrey Citron is chairman and chief executive officer of Vonage. In 1995, he founded The Island ECN, a computerized trading system designed to eliminate problems associated with order execution. Next, Citron founded and was chairman and chief executive officer of Datek Online Holdings Corp. Under his leadership, Datek became the fourth-largest online brokerage in the United States. Recently acquired by Ameritrade Holdings for $1.3 billion, it is now the second-largest online financial services company. Citron departed Datek in 1999 and, recognizing a similar opportunity, founded Vonage. He currently serves on the board of New Jersey's Montclair Art Museum and through his family foundation funds medical research, supports the arts, and dedicates time and resources to children's charities.

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Tim Craycroft '93

Tim Craycroft '93 is co-founder of 842 Technology, a small software firm based in San Francisco. Prior to 842, he was the founding chief technology officer of i-drive; later, as chief executive officer, he led the company's transition from service provider to software company. Craycroft has twelve years of experience as a professional software developer, architect, and executive. Prior to i-drive, he held engineering and technical leadership positions at Apple and Netscape, where he developed operating system and Internet software technologies. Craycroft recieved an AB in computer science from Dartmouth College.

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Bob Cronin '84, TU '89

Robert N. Cronin '84, TU '89 is a founder and senior managing director of Stonebridge Technology Associates, a Boston-based investment banking firm that provides corporate finance advisory services to middle market and emerging growth companies. He focuses exclusively on raising private capital and providing merger and acquisition advisory services to early-stage and emerging growth technology companies. Cronin began his career in the corporate finance department of Bankers Trust Company. He received an AB in economics from Dartmouth College and an MBA from Tuck School.

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Don Drakeman '75

Donald L. Drakeman '75 is the co-founder, president, and chief executive officer of Medarex, a biotechnology company developing monoclonal antibodies for the treatment of a wide range of life-threatening and debilitating diseases. He previously served as vice president of Essex Chemical Corporation, where he was responsible for several biomedical ventures, as an attorney at the international firm of Milbank, Tweed, Hadley & McCloy, and as a faculty member at Princeton University, where he taught constitutional law and civil liberties. Drakeman received an AB degree magna cum laude from Dartmouth College, a JD degree from Columbia Law School, and a PhD in religion from Princeton University. His wife, Lisa N. Drakeman, PhD, is president and chief executive officer of Genmab.

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Gregg Engles '79

Gregg L. Engles '79 is chairman and chief executive officer of Dean Foods Company, the nation's leading dairy processor, distributor of fresh milk and other dairy products, and a leader in the specialty foods industry. He founded the company in 1988 by acquiring the Reddy Ice division of The Southland Corporation. In 1993, the company entered the dairy industry with the purchase of Suiza Dairy in San Juan, Puerto Rico. Dean Foods completed its initial public offering in April 1996. Through an aggressive acquisition strategy, company revenues have grown from $17 million in 1988 to nearly $10 billion today. Engles has an AB in economics from Dartmouth College and a JD from Yale University.

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Phil Ferneau '84, TU'96

Phil J. Ferneau '84, TU'96 is co-founder and managing director of Borealis Ventures, a Hanover-based venture capital firm that invests in seed and early-stage companies in northern New England and throughout the national Dartmouth network. Ferneau formerly served as the founding executive director of Tuck's Center for Private Equity and Entrepreneurship He is now an advisory director and an adjunct associate professor teaching private equity and entrepreneurship at Tuck. Prior experience includes senior operating roles with an application software company and a private legal practice specializing in international trade. He received an AB from Dartmouth, a JD from the University of Virginia School of Law, and an MBA with high distinction from Tuck.

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Bob Fleming '78

Robert C. Fleming Jr. '78 is general partner and co-founder of Prism Partners. A venture capitalist for more than eighteen years, he has served as general partner with Norwest Venture Capital, and before that with the Vista Group. There, he managed two Vista-affiliated funds, Vista Ventures III, LP, and Orien Ventures II, LP. Fleming has also served as a director for numerous venture-backed companies. Prior to entering the venture capital industry, Fleming was an early employee at the Gartner Group, which was then a venture-backed start-up. He founded and managed Gartner's Local-Area Communications consulting practice, consulted at Booz, Allen & Hamilton, and designed data communications equipment for Dataproducts New England. Fleming holds an AB cum laude in engineering sciences from Dartmouth College and an MBA from the Wharton School.

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Peter Georgiopoulos TU'87

Peter C. Georgiopoulos TU'87 is the chairman, chief executive officer, president, and founder of General Maritime Corporation, the second-largest mid-sized tanker company in the world. Georgiopoulos started his career working for private shipping companies in New York and Greece, chartering, buying, and selling vessels. He later joined Drexel Burnham Lambert as an investment banker specializing in mergers and acquisitions. In 1990 he joined oil tanker brokerage firm Mallory Jones Lynch & Associates, then the next year started Maritime Equity Management, a ship owning and investment company. In 1997 Georgiopoulos launched General Maritime with one vessel. The company joined the NYSE in 2001 and today owns and operates a fleet of 46 tankers. Georgiopoulos earned an MBA from Tuck School.

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Mike Gonnerman '65

Michael Gonnerman '65 has 33 years of combined business experience: with Arthur Andersen & Co. in Washington, D.C. and Italy, as the chief financial officer for two public and two private high-technology companies, and as a financial consultant to more than fifty companies. He serves on the boards of directors and advisors of several companies, typically chairing the audit and compensation committees. Gonnerman has an AB in economics from Dartmouth College and an MBA from Northwestern University. Married 33 years, he and his wife have three adult children. Gonnerman roots for the Boston Red Sox and Washington Redskins, enjoys bowling and long distance running, and has coached ten baseball teams in seven years.

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Dick Green '75

Richard L. Green '75 is co-founder and managing director of Granite State Angels, a regional investment group located in Hanover, New Hampshire. He is a co-founder, director, and former chairman of VoteHere, Inc., a Seattle-based producer of security systems for electronic and online voting. In 1983, Green was co-founder of Corporate Microsystems, Inc., a New Hampshire data communication software company. He served as CMI's chief executive officer and chairman until he sold the company to Legent Corporation in 1993. Green is president of the Grafton County Economic Development Council, and one of the partners in the planned Dartmouth Regional Technology Center incubator. A graduate of Dartmouth College, he was awarded the John G. Kemeny Prize in Computing in 1976.

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David Holveck

David P. Holveck is vice president for corporate development at Johnson & Johnson. Previously, he was president of Johnson & Johnson Development Corporation, a title he assumed after Centocor, Inc., of which he was chief executive officer and a director, merged with Johnson & Johnson in 1999. Prior to joining Centocor, Inc., he held positions at General Electric Company, Corning Glass Works, and Abbott Laboratories. He is on the board of governors for Pennsylvania's State System of Higher Education and serves on the board of trustees for the Fund for West Chester University. Holveck received a BS degree in education/science from West Chester and served in the U.S. Navy. He and his wife have two daughters and four grandchildren.

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Michael Horvath

Michael Horvath is an associate professor at Tuck School, research director of the Foster Center for Private Equity, and chief financial officer for GlycoFi, Inc. He teaches high-tech entrepreneurship and venture capital electives and is studying the effects of venture capital, entrepreneurship, and innovation on regional and macroeconomic growth. Horvath is also a co-founder of Kana, Inc., which provides web-architected enterprise relationship management solutions (eRM). Kana delivers a broad range of integrated e-business and interaction applications for both Internet and Global 2000 companies, including eight of the ten most trafficked websites. Prior to joining Tuck School, he taught macroeconomics at Stanford University for six years. Horvath received a BA in economics from Harvard University and a PhD in economics from Northwestern University.

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Alan Kirby

Alan Kirby is director of engineering in the VPN and Security Business Unit of Cisco Systems, Inc., and a research affiliate at MIT's Laboratory for Information and Decision Systems. He has developed data communications and computer security technology for nearly thirty years, and holds several networking and network security patents. Most recently, Kirby was chief technical officer and vice president of engineering at Okena, Inc., which develops end-system security products that prevent a variety of intrusions. Okena was acquired by Cisco Systems in 2003; he remains responsible for engineering efforts for this product line. Kirby has a BS in computer science from Worcester Polytechnic Institute and an MA in computer science from the Polytechnic Institute of New York.

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Scott Kirsner

Scott Kirsner is a Boston-based business and technology writer focusing on new technologies, the people and companies that create them, and their impact. A contributing editor at Fast Company and a contributing writer at Wired magazine, he also writes "@large," a column on the tech sector in New England that appears each Monday on the front page of the Boston Globe's business section. Kirsner has also written for the New York Times, Newsweek, CIO Magazine, Salon.com, and the London Sunday Telegraph, and often discusses technology issues on TV and radio. He is a founder and program chair of "Future Forward: The New England Technology Summit," to be held this November in Portsmouth, New Hampshire, and the Nantucket Conference on Entrepreneurship and Innovation in May.

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Blair LaCorte TU'90

Blair LaCorte TU'90 is executive vice president of Corporate Development and Strategy at Savi Technology. Named one of the top ten business-to-business marketers of the year by Business Marketing and Advertising Age, he takes the lead in determining corporate strategies. Previously LaCorte was Savi's executive vice president of Business Development and Marketing. He was instrumental in the conception and establishment of Smart and Secure Tradelanes, a global container security and management network at major ports. Prior to Savi, LaCorte was VerticalNet's senior vice president of Strategy and E-Commerce, and part of the team that took the company public in 1999. He received a BA from the University of Maine, an MBA from Tuck School, and an FMP degree from General Electric.

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Steve Lazarus '52

Steven Lazarus '52 is founder and a managing director of ARCH Venture Partners. Previously, he was president and chief executive officer of ARCH and associate dean of the University of Chicago's Graduate School of Business. Before founding ARCH in 1986, Lazarus was group vice president of Baxter Healthcare's Health Care Services Group. During his thirteen years at Baxter, he also served as senior vice president for technology. In the early 1970s, Lazarus was deputy assistant secretary of commerce and was the founder and first director of the Bureau of East-West Trade. A 21-year Navy veteran, he retired with the rank of captain in 1973. He received a BS with honors from Dartmouth College and an MBA with high distinction from Harvard University.

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Sean Mahoney

Sean Mahoney is president of Millyard Communications, Inc., publisher of BusinessNH magazine and producer of EventsNH. Over the course of his entrepreneurial career, he has built companies that have been sold to both private equity and strategic buyers. Mahoney is currently an active investor in several private equity investment funds and a direct investor in rapidly growing, job-creating companies. He has also worked in corporate finance, raising capital in the public equity markets for emerging growth companies. Mahoney earned a BA from the University of Pennsylvania and an MBA from Harvard Business School.

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Rob McGrath '82, TU'92

Robert L. McGrath III '82, TU92 founded Private Retreats by Abercrombie & Kent in 1998 and serves as president and chief executive officer. Named "Entrepreneur of the Year" in 2003 by Ernst and Young for starting the "club of clubs," he previously developed luxury condominiums in Telluride, Colorado, and Jackson Hole, Wyoming. Before that he was a commercial mortgage-backed securities trader at J.P. Morgan and Nomura Securities, financing real estate. McGrath received an AB in comparative mythology from Dartmouth College and an MBA from Tuck School, graduating as one of ten Tuck Scholars. A former competitor on the World Pro Ski Tour, he lives with wife Susan and their two children in Fairfield, Connecticut.

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Jeff McKinnon

Jeff McKinnon is president and chief executive officer of Concordia Partners LLC. A serial entrepreneur specializing in direct marketing to consumers, he has over the past 25 years developed new businesses as a consultant, as CEO of a venture capital start-up, and while working within a corporate parent. Most recently, he founded a bootstrap start-up, Concordia Partners. Launched in 2001, Concordia markets "Women to Women's Personal Program," a natural approach to hormonal balance. Following two years of testing and a shift to sales through the internet, Concordia is profitable, has a positive cash flow, and is growing rapidly. McKinnon holds an AB from Harvard University.

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Dave Morse TU'67

David S. Morse TU'67 is managing director of MS Capital, which operates a hedge fund. A Silicon Valley veteran, he has, over twenty years, founded seven technology companies and raised more than $100 million in equity. Notable companies Morse founded include Amiga Computer, 3DO, Crystal Dynamics, and Silicon Gaming. He has a strong track record of identifying new proprietary technologies and developing them to profitability. Morse has a BS in engineering from Tufts University and an MBA from Tuck School.

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Bob Molinari '74, TU'79

Bob Molinari '74, TU'79, owner of Medstars and an angel investor, specializes in biotechnology reagents, genomics, proteomics, and biopharmaceutical research companies. He is a genomics affiliate to the Institute for the Future, a Menlo Park, California-based think tank, and executive director and board member of Intrinsic Bioprobes, Inc., a mass spectrometer-based proteomics company. As co-founder, chief executive officer, and president, Molinari led Protogene Laboratories, Inc., to become the world's largest supplier of custom DNA in the mid-1990s. After Protogene was acquired by Life Technologies, Inc. (now Invitrogen), he ran a spin-off of Protogene that developed ink jet technology for custom DNA chips. Molinari has an AB and an MBA from Dartmouth College and a PhD in biophysical chemistry from Brown University.

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Tom Naughton '89, TU'96

Thomas W. Naughton '89, TU'96 is a managing director and founder of NeoCarta Ventures, a venture capital partnership that makes private equity investments in technology companies. Prior to forming NeoCarta, he was vice president for GE Equity, the private equity arm of GE and GE Capital. Naughton holds an AB in mathematics from Dartmouth College and received an MBA from Tuck School, where he graduated as an Edward Tuck Scholar with high distinction.

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Amanda Reed '86

Amanda Reed '86 is a partner in Palomar Ventures, which she joined in 2001. She is one of four partners investing in Palomar II, a $220 million early-stage venture fund focused on the information technology market. Previously, Reed was the senior vice president of strategy and development for LogicTier, where she built and led the sales, business development, and marketing teams of this internet operations services provider. As vice president for marketing and business development at Connect, Inc., she supported the launch of the company's first internet-based product in 1995, a successful IPO the next year, and the restructuring of the company to reach profitability in 1998. Reed has an AB in economics from Dartmouth College.

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Bryan Roberts '89

Bryan Roberts '89 is a general partner of Venrock Associates. He joined the firm in 1997 and is involved with its activities in health care. Roberts serves on the boards of athenahealth, Concurrent Pharmaceuticals, Microbia, Nanosys, Satiety, Sirna Therapeutics, and Xenoport. Previous, he worked at Kidder Peabody & Co., Inc. Roberts Bryan received an AB in chemistry from Dartmouth College and a PhD in chemistry and chemical biology from Harvard University.

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Mark B. Stein '83

Mark B. Stein '83 is a partner in McDermott, Will & Emery's Corporate Department in Boston. He concentrates his practice in securities, mergers and acquisitions, and general representation of start-ups, principally in information technology and health. Stein is also outside general counsel to several companies in industries such as software, computer peripherals, internet infrastructure systems, and health information systems. He speaks regularly to emerging and growth companies about corporate finance strategies, corporate governance, equity-based incentive compensation, and other issues. Previously Stein was acting executive director of the Massachusetts Office of International Trade and Investment. He earned an AB magna cum laude in Russian and Soviet studies from Dartmouth College and a JD magna cum laude from Harvard Law School.

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Rob Utzschneider '79

Rob Utzschneider '79 is executive director of Ascential Software's Field Engineering organization and sits on the company's Operating Committee. He is also founder of Torrent Systems, a venture-backed start-up providing parallel processing software infrastructure. Since joining Ascential after it aquired Torrent in 2001, he has helped grow the company's quarterly revenues from $20 million to $65 million. Utzschneider has an AB with honors from Dartmouth College and an MBA from the University of Chicago Graduate School of Business Administration.

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Fred Wainwright TU'02

Fred Wainwright TU '02 is executive director of Tuck's Center for Private Equity and Entrepreneurship, and teaches MBA and executive education courses on those topics. He has more than ten years of experience in financial services and entrepreneurship and has written extensively on finance and strategy. Wainwright is an investor and board member in start-ups, a fellow of the Dartmouth Entrepreneurial Network (DEN), and executive director of the North Country Angel Investors and the Granite State Angels. He also serves on the editorial board of the Journal of Entrepreneurial Finance and Business Ventures. Wainwright earned his BA in economics and BS in engineering from Stanford University and his MBA from Tuck School.

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David Weld '85, TU'90

David L. Weld Jr. '85 TU'90 is president and chief executive officer of MessageGate, Inc., a messaging security and compliance company. Previously, he was president and chief operating officer of Loudeye Technologies, a Seattle-based media technology and services company that acquired Alive.com, which Weld founded. He also founded Cognisoft (later acquired by Verity, Inc.) after a five-year tenure at Microsoft, where he was group program manager on Windows NT and director on the Microsoft Network (MSN). Weld also created and led the technical and production team (and came up with the name) for Slate magazine. Before Microsoft, he worked in finance and consulting. Weld holds an AB in computer science and Russian from Dartmouth College and an MBA from Tuck School.

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Barbara Yanni

Barbara Yanni is vice president and chief licensing officer of Merck & Co., Inc. Working with her scientific colleagues, she leads the group responsible for negotiating agreements to acquire compounds, programs, and new technologies to complement research programs that lead to the development of new medicines. Previously, she was the company's executive director of corporate development, negotiating acquisitions, divestitures and other business arrangements. She also worked in finance. Before joining Merck in 1985, she was a tax lawyer for several years at Bristol-Myers and in private practice in New York City. Yanni received an undergraduate degree from Wellesley College and a JD from Stanford. She also holds a master's of law in taxation from New York University.

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