Ambar G. Rao, Ph.D., was installed as the first Fossett Distinguished Professor of Marketing in the John M. Olin School of Business Thursday, Dec.4.
The endowed professorship is the gift of J. Stephen Fossett, an explorer and successful businessman who received a master of business administration degree from the business school in 1968, Chancellor Mark S. Wrighton announced. Fossett is a trustee of the University and a member of the Olin School's advisory council.
"We're not only fortunate that Steve Fossett has generously created this professorship," said Wrighton, "but also that we have someone as eminently qualified as Ambar Rao to fill it."
Stuart I. Greenbaum, Ph.D., dean of the business school, added: "We deeply appreciate this important show of support from Steve Fossett, which helps attract and retain world-class faculty at the John M. Olin School of Business."
Rao held endowed professorships at the University of Toronto and the University of Arizona before joining the business school faculty this year. He is teaching marketing analysis and marketing policy and pursuing research interests in those areas, as well as in product strategy. Rao, author of three books and marketing consultant for several Fortune 500 firms, received a bachelor of technology degree from the Indian Institute of Technology and a master of science degree from Case Western Reserve University. His doctoral degree is from the University of Pennsylvania.
"I have many ties to Washington University," said Fossett, chairman of Lakota Trading Inc., a Chicago-based stock options trading firm, and president of Marathon Securities Inc., a member of the New York Stock Exchange, "and I have great confidence in the Olin School."
Known for setting world records in ballooning and sailing, Fossett is preparing to launch his third attempt to be first to circumnavigate the globe in a balloon. He plans to lift off from St. Louis' Busch Stadium sometime between mid-December and mid-January, depending on weather conditions. The University's Brookings Hall will be mission control for the venture.
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