Leo Guthart

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Leo Guthart is an American economist and businessman. Guthart is a former Vice Chairman of the Pittway Corporation, and co-founder of the Long Island Research Institute, Topspin Partners, and the Long Island Venture Fund.

Contents

Education

Leo Guthart graduated from Harvard College with a BA degree in Physics in 1958. He later attended Harvard Business School, where he received both an MBA in 1960 [1] and later a Doctorate in Business Administration. [2] As a writer, his work has appeared in textbooks, including Financial Management; Cases and Readings by Pearson Hunt and Victor Andrews. [3]

Career

Leo Guthart’s research as a doctoral candidate at Harvard Business School found that companies were repurchasing larger amounts of their own stock than had generally been realized, determining that these purchases had become a previously underappreciated factor in the stock market, [4] [5] [6] [7] tracking the trend from 1954 to 1963. [8] [9] He also wrote in 1965 that the practice would become more widespread. [10] Guthart joined ADEMCO in 1963, which grew to the world’s largest manufacturer of security and alarm devices by 1992, [11] under the leadership of Guthart. [2] He then served as Vice Chairman of Pittway Corporation and Chief Executive Officer of its Security Group of Companies, including ADEMCO, until its sale to Honeywell in 2000. [12] Simon Hakim and Erwin Blackstone wrote of Guthart’s role that ADEMCO’s “success” over the years, “can be attributed to Leo Guthart, [his] innovative behavior and willingness to take risks”. [13] Guthart has also worked with technology transfer, focusing on commercializing the scientific work of research organizations. He also co-founded the Long Island Research Institute, alongside the Brookhaven National Laboratory, Cold Spring Harbor Laboratory, North Shore University Hospital, and Stony Brook University. [14] In 1993 Guthart co-founded the Long Island Venture Fund with James Simons, [15] and in 2000 he and Simons formed Topspin Partners, LP. [16] Guthart is currently Vice Chairman of Accelerate Long Island. [17] Guthart has also served as the Chairman of the Cylink Corporation. [18]

Personal life

Guthart was elected Chairman of the Board of Trustees of Hofstra University in 1993 [19] and is currently a member of the Hofstra Board of Trustees. [20] In 2021, Hofstra University announced that a business school building on its campus will be known as the Leo A. Guthart Hall for Innovation and Discovery. [21] Guthart is also the Treasurer and serves on the Executive Committee of the Cold Spring Harbor Laboratory, [22] whose campus complex features the Laurie and Leo Guthart Discovery Tower in honor of his late wife. [23] Guthart also established the Laurie Carrol Guthart Professorship in Medicine in the Field of Neuroendocrinology at Harvard Medical School. [24] In 2010, Guthart was inducted into the Long Island Technology Hall of Fame. [25] [26]

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References

  1. ↑ "DEBRIEF: Leo Guthart, Topspin Partners - Innovate Long Island". 8 June 2015.
  2. 1 2 Tarsala, Michael (15 May 1997). "Ademco Security's Guthart: Persistence Pays Off For An Alarm Business Bell Ringer". Investor's Business Daily.
  3. ↑ Hunt, Pearson; Andrews, Victor L. (1968). Financial Management; Cases and Readings. Richard D Irwin Inc. ISBN   0256017468.
  4. ↑ Berton, Lee (29 July 1969). "Buying Yourself". The Wall Street Journal. ProQuest   133391705.
  5. ↑ Elia, Charles (19 March 1965). "Corporate Cannibalism Thrives". New York World-Telegram. p. 26.
  6. ↑ "Growing Trend: Firms Buying Back Stock". New York Herald Tribune. 28 March 1965.
  7. ↑ Murphy, Pat (19 March 1965). "Trend Has Impact on Market: More Firms Rebuy Their Own Stock". Chicago Daily News.
  8. ↑ “Management Services”. American Institute of Certified Public Accountants. Volume 5. 1968. Page 55.
  9. ↑ "Management Services". American Institute of Certified Public Accountants. 17 March 1968 – via Google Books.
  10. ↑ "More companies buy their own stock, lowering near term supply, study shows". Business Week. 27 March 1965.
  11. ↑ "CLOSE-UP Leo Guthart: A Man Ahead Of His Time". Long Island Business News. 1988-04-25. p. 3.
  12. ↑ "Company Overview of Topspin Partners LBO, LP". Bloomberg Capital Markets. Retrieved 23 July 2017.
  13. ↑ Hakim, Simon; Blackstone, Erwin A. (17 March 1997). Securing Home and Business: A Guide to the Electronic Security Industry. Butterworth-Heinemann. ISBN   9780750696296 – via Google Books.
  14. ↑ PENENBERG, ADAM L. (9 July 1995). "Building a Bridge for Business and Science". New York Times. ProQuest   109497958.
  15. ↑ Bernstein, James (23 June 1993). "LI Gets a High-Tech Startup Fund". Newsday. ProQuest   278642593.
  16. ↑ "The Other Face of Jim Simons". www.institutionalinvestor.com. 2004-12-06. Retrieved 2017-08-14.
  17. ↑ "Key piece of LI's tech future Venture capital could be the catalyst to help Long Island become a research hub - and a job generator". Newsday. 5 January 2014. ProQuest   1473999957.
  18. ↑ "Company Overview of Cylink Corporation". Bloomberg. Retrieved 23 July 2017.
  19. ↑ "College Briefs". Newsday. 5 December 1993. p. 3. ProQuest   278701919.
  20. ↑ "Hofstra University Trustees - Hofstra - New York". www.hofstra.edu.
  21. ↑ "Hofstra Renames Business School Building, Center for Entrepreneurship to Honor Leo A. Guthart". 20 May 2021.
  22. ↑ "CSHLLeadership | About Us". www.cshl.edu. Archived from the original on 2014-08-18.
  23. ↑ "CSHLNew Research Buildings Open at Cold Spring Harbor Laboratory | News & Features". www.cshl.edu. Archived from the original on 2015-03-20.
  24. ↑ "Klibanski named first Guthart Professor". Massachusetts General Hospital.
  25. ↑ http://techisland.org/inductees2010.asp Long Island Technology Hall of Fame
  26. ↑ "Long Island Technology Hall of Fame - Quantum Chromodynamics - Particle Physics". Scribd.
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