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Leaving a Legacy
Dean's retirement prompts alumni 'appreciation campaign'

When Richard Furst arrived as the new dean of the University of Kentucky’s college of business and economics in 1981, he brought with him a determination to recruit talented, dedicated faculty and help bright students attend the college, regardless of their personal financial circumstances.

To achieve that goal, Furst was diligent in his efforts to secure new resources to bolster the work of the college. Over the course of his 22 years as dean, the college has seen significant increases in scholarship endowments as well as increases in endowed chairs and professorships.

Furst’s efforts have also resulted in national recognition for innovative academic programs and new facilities, including:

• recognition by Business Week in 1992 as one of the best values in business education
• the Small Business Development Center, launched in 1981
• recognition for quality and innovation by the Princeton Review
• a 7th-place national ranking in the Journal of Marketing Education for academic research by marketing faculty members
• a 9th place national listing research in terms of the output of finance doctoral students after graduation from the Gatton College
• a high-tech classroom and state-of-the-art information center recognition by the ARCO college guide as one of the top 66 business schools in the U.S.

Upon Furst’s announcement that he would be retiring this summer, a group of alumni and friends decided to form a campaign to secure funds to “carry on the legacy that will always be associated with Richard Furst.”

The “Furst Appreciation Committee” has set a goal of raising $500,000 that will fund the Richard W. and Janis H. Furst Scholarship Endowment Fund to provide annual scholarships to deserving students. Monies will also be used for a named room in the university’s new Professional Development Center, which will be located in downtown Lexington. (For more information on how to make donations, contact Bart Meyer at (859) 257-9825.)

Though Furst is stepping down from his position as dean – the university mandates that its deans retire at age 65 – he plans to remain engaged in teaching and will lead an MBA class at UK this fall. He also plans to remain involved in the University’s Center for Entrepreneurship, an area that has long been one of his primary interests.

Stepping into the role of dean is Dr. Devanathan Sudharshan, who comes to UK from the University of Illinois Urbana-Champaign, where he was a professor of business administration for 20 years.

Karen Baird is associate editor of The Lane Report
editorial@lanereport.com

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