Sixty-five years ago, the always innovative Purdue University established the foundation of what is now the Daniels School of Business with a department of economics. Over the years, the school took on new names, expanded programs, constructed buildings and thrived due to the generosity of devoted alumni.
Explore how the school met the challenges of each decade to become what it is today — a forward-thinking school of business intersecting with science, technology, engineering and math that celebrates its people and past while looking ahead.
1953
Emanuel Weiler is hired and later becomes the first dean of the business school. His relationship with business leader Herman Krannert leads to a gift that funds the school and a new building.
Emanuel T. Weiler
1957
Arnie Cooper is among the first graduates from the management master’s program. He returns to Purdue in 1963 and becomes a pioneering scholar in the field of entrepreneurship.
1957
A total of 29 students, all men, graduate from the first management master’s degree program.
Professor John S. Day teaching a master's class in 1957
1958
The School of Industrial Management is formed from the Department of Economics in the School of Science, Education, and Humanities, and the Department of Industrial Management and Transportation in the Schools of Engineering. The school offers graduate and undergraduate degrees.
1961
Frank Bass, considered the “father of marketing science,” comes to Purdue. A mentor to many students and faculty, he helps establish marketing as a quantitative science.
1961
Vernon Smith joins the faculty. A pioneer in the field of experimental economics, he wins the Nobel Prize in Economic Sciences in 2002, and a lab bearing his name is located in the Krannert Building.
Herman C. and Ellnora D. Krannert
1962
The Krannert Graduate School of Industrial Administration, Purdue’s first named school, is established with a $2.73 million endowment from Herman and Ellnora Krannert.
Bill Lewellen
1964
Bill Lewellen begins a career at Purdue that spans 50 years. He serves as long-time director of Krannert Executive Education Programs and is listed by the Journal of Financial Literature (along with John McConnell) in 2005 as one of the most prolific authors in finance over the past 50 years.
Cover of the Fall 1969 edition of the Purdue Business Journal, then known as the Krannert Alumni Bulletin
1965
Classes move from Stanley Coulter Annex to the newly constructed Krannert Building.
1967
The school receives accreditation from the American Assembly of Collegiate Schools of Business (AACSB), the gold standard in business education.
1968
Associate Dean John Day and faculty members create the Business Opportunity Program (BOP), a first-of-its-kind program aimed at broadening student access to business careers.
Cornell Bell
1969
Cornell Bell, a high school principal from Gary, Indiana, is hired to direct the Business Opportunity Program. For 37 years, he serves as a father figure and mentor to hundreds of students.
1972
Joe Forehand (MSIA ’72, HDR ’05), retired chairman and CEO of Accenture, led the company through its split with Arthur Andersen and an international rebranding campaign.
1973
The Executives in the Classroom lecture series, later renamed the Executive Forum, is created and brings business leaders to class to speak with undergraduate students.
1974
Marge Magner (MSIA ’74, HDR ’04), retired chair and CEO of Citigroup’s Global Consumer Group, named to the Fortune list of “Most Powerful Women in Business” and the Forbes list of “100 Most Powerful Women in the World.”
Marge Magner
1975
Sam Allen (BSIM ’75, HDR ’17), retired CEO of John Deere, started at Deere after escorting company representatives in the Executives in the Classroom course.
1976
Purdue Trustees approve name changes to the Krannert Graduate School of Management and the School of Management.
1977
Terry Cross (MSIA ’77), retired United States Coast Guard Vice Admiral, served as Vice Commandant of the USCG, second in command, from 2004-06.
Terry Cross
1977
Major remodeling takes place in the basement of the Krannert Building to accommodate new staff offices.
1977
Venu Srinivasan (MS ’77, HDR ’14), chairman emeritus of TVS Motor Company and recipient of the Padma Shri and Padma Bhushan awards from the government of India.
1979
Carolyn Woo earns her third degree from Purdue and begins an academic career that leads to the business school dean position at the University of Notre Dame. She then becomes CEO of Catholic Relief Services and is named one of the “500 Most Powerful” people on the planet for her work.
Carolyn Woo
1981
Beth Brooke (BSIM ’81, HDR ’12), retired global vice chair at EY, named to Forbes list of “100 Most Powerful Women in the World” 11 times.
Beth Brooke
1982
Greg Hayes (BSM ’82, HDR ’21), chairman and CEO of Raytheon Technologies, an aerospace and defense company with 174,000 employees worldwide and $64 billion in annual sales.
1983
The school inaugurates its first degree-granting executive education program.
1983
The Krannert Center for Executive Education and Research is dedicated and houses the school’s programs for working professionals.
1985
The Master of Science in Industrial Relations program, established in 1958 and administered with other Purdue departments, is renamed the Master of Science in Human Resource Management and brought within the school.
1988
The Center for the Management of Manufacturing Enterprises, later renamed for donor Dick Dauch, launches. It promotes research and offers opportunities for students interested in manufacturing.
Richard E. Dauch
1989
Marie Thursby is hired from Ohio State University. She establishes several multidisciplinary programs, including the Innovation Realization Lab, aimed at boosting the university’s efforts in commercializing its technologies.
Dennis Weidenaar, faculty since 1966, became the fifth dean of the Krannert School in 1990.
1990
Dave Ricks (BSIM ’90, HDR ’23), chair and CEO of Eli Lilly, a pharmaceutical giant with products marketed in 120 countries.
1991
Tarrus Richardson (BSM ’91), founder and CEO of private equity company IMB Partners, and founder of the Council of Urban Professionals, a national program to inspire and empower the next generation of diverse business and civic leaders.
1995
A weekend program is launched in response to demand from local business leaders.
1999
The school exports its Master of Science in Industrial Administration (MSIA) program to Germany, resulting in a partnership called the German International Graduate School of Management and Administration (GISMA).
The Spring 1998 cover of the Purdue Business Journal, then known as the Krannert Portfolio
2000
Alum Jerry Rawls pledges $10 million to the Krannert at the Frontier Campaign, allowing completion of what will be known as Jerry S. Rawls Hall.
2001
The Master of Science in Management (MSM) degree is officially changed to a Master of Business Administration (MBA).
2001
Drew Brees (BSIM ’01), Academic All-American quarterback and Super Bowl XLIV MVP.
The Fall 2000 edition of the Krannert Magazine, featuring Drew Brees
2003
Jerry S. Rawls Hall is dedicated. The award-winning facility houses 13 classrooms, a professional career center, 25 breakout rooms, distance learning facilities, and computer labs.
(Above) Rawls Hall is dedicated in a baseball Opening Day theme (Below) Jerry Rawls gives a speech wearing a Purdue themed baseball jersey
2008
A Master of Science degree in Finance is added to the school’s portfolio, with master’s degree offerings in accounting, global supply chain management and marketing to follow in subsequent years.
Steve Webster
2009
With a lead gift from alum Steve Webster, the Webster Suite provides space for undergraduate advisers and counselors to meet with students on the third floor of the Krannert Building.
2010
Alum Roland Parrish provides a $2 million gift to support renovation of the library in the Krannert Building. It is renamed in his honor, the first time a major Purdue facility is named in honor of an African-American alumnus.
The Roland G. Parrish Library
2013
Purdue offers an online master’s degree in economics, the first program of its kind offered by a major research university.
2014
The Purdue University Research Center in Economics (PURCE), directed by Professor John Umbeck, is started and offers data-driven insights into how laws, regulations and government programs affect the market economy and individuals’ well-being.
John Umbeck
2016
The school launches a Master of Science in Business Analytics and Information Management degree, which becomes ranked the #1 data science degree program in the United States within two years.
2016
The Jane Brock-Wilson Women in Management Center, later renamed the Brock-Wilson Center for Women in Business, launches. It empowers women to become confident leaders and prepares men and women to excel in a diverse workforce.
Jane Brock-Wilson
2017
Steve Webster and his wife, Linda, again provide the lead gift to transform part of the Webster Suite into a new home for the Purdue University Research Center in Economics (PURCE).
2018
The Larsen Leaders Academy is established and provides high-achieving undergraduate students the opportunity to translate their academic experience into real-world leadership skills. Former Goodrich CEO Marshall Larsen —once named one of the “best-performing CEOs in the world” by Harvard Business Review — and his wife, Susan, provide funding for the program.
Marshall and Susan Larsen
2019
The school announces a two-year, fully online MBA program, with a focus on technology and innovation ideal for students with STEM backgrounds.
2019
A $5 million gift from John Krenicki Jr. and his wife, Donna, leads to the renaming of the Krenicki Center for Business Analytics and Machine Learning, which serves as a data analytics ecosystem of industry partners, students and faculty.
John Krenicki Jr. and wife Donna
2020
Purdue and the business school pivot to online instruction in the spring as students are sent home due to the COVID-19 pandemic. In-person instruction resumes in the fall.
2021
The Krannert Drawing Room is renovated, giving students a more modern and accessible space to study and work in teams.
The new Krannert Drawing Room
2021
In conjunction with the College of Engineering, the school introduces a bachelor’s degree in Integrated Business and Engineering (IBE), a reboot of the BS degree in Industrial Management that dated to the early 1960s.
Early plans for a new expansion to the School of Business
2022
Preliminary plans are unveiled for a new state-of-the-art building that fits the school’s forward-looking culture and promotes active learning and design thinking.
Barbara and Dean White
2022
Funded by a $20.8 million gift from the Dean and Barbara White Family Foundation, the Dean V. White Real Estate Finance Program is launched.
2022
Purdue announces a major initiative to reimagine the School of Management into a new School of Business that will redefine the preparation of business leaders.
2023
The Vernon Smith Experimental Economics Laboratory, located on the seventh floor of the Krannert Building, undergoes a complete renovation.
2023
The school is formally renamed the Mitchell E. Daniels, Jr. School of Business. The school aims to achieve excellence at scale while integrating business with Purdue’s renowned STEM strengths and providing transformative experiential learning opportunities for tomorrow’s leaders.
(Above) Former Purdue President Mitch Daniels speaking at a commencement ceremony (Below) Students celebrate the launch of the Mitchell E. Daniels, Jr. School of Business
At our school, change seems to be a constant. Let's continue to honor the moves that have brought us to our present moment. From our new dean to our new name to a renewed focus on experiential learning, business analytics, and STEM skills, the list of ways we are evolving into a top school keeps growing.
