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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.

Education

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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

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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

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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]

References

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  1. ^ "DEBRIEF: Leo Guthart, Topspin Partners - Innovate Long Island". 8 June 2015.
  2. ^ a b 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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