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November 11, 2003
Three Alumni to be Inducted into the Hall of
Fame
Cockrell, Jastrow and Tate are this year’s honorees.
The McCombs School is pleased to announce its 2003 inductees for the 20th anniversary of the McCombs School of Business Hall of Fame. Induction into the Hall of Fame is one of the highest honors the school can bestow on its alumni and friends.
Nominated by McCombs faculty and Advisory Council members and chosen by a select committee of McCombs leadership, these individuals have contributed significantly to business practice and “by their exemplary civic, philanthropic, and educational activities, have advanced humanity.”
For 2003, the honorees are Ernest H. Cockrell, chairman of Cockrell Interests Inc.; Kenneth M. Jastrow, II, chairman and CEO of Temple-Inland Inc.; and Charles W. Tate, chairman and founder of Capital Royalty LLC.
McCombs School Hall of Fame 2003 Inductees
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Ernest Cockrell (MBA, 70) is a life-long supporter of UT Austin. In fact, his philanthropy is wide-ranging, extending to Houston — and Texas — area causes of nearly every description. Cockrell gives freely of his personal time and experience as well, contributing his input and managerial insight on the boards of The Welch Foundation and The Cockrell Foundation, both contributors to UT Austin. He also serves as Vice Chairman of the Board of Visitors of M.D. Anderson Cancer Center and served as former Chairman of the UT College of Engineering Foundation Advisory Council.
After earning a degree in Engineering from UT Austin, Cockrell served in the Army Reserves. Joining his family’s oil and gas exploration and production company in 1968, he began as an oil-field roustabout. He took time away from the business to return to UT to earn his MBA degree in 1970, a decision he has never regretted. In fact, Cockrell observes that “the solid academic foundation the McCombs School provided for me has been invaluable to my business career and personal life,” a frank endorsement from a man who is no stranger to success.
Cockrell returned to the family business and became President and CEO in 1979. He sold the oil company in 2000 and now heads his family’s investment company.
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Kenneth Jastrow, II (BBA 69, MBA 71), Chairman and CEO of Austin’s Temple-Inland, is another true Texas success story. His career began 26 years ago with Lumbermen’s Investment Corporation, a subsidiary of Austin-based Temple-Inland, and today he directs the operations of this Fortune 500 company. Temple-Inland is involved in three businesses — corrugated packaging, building products, and financial services — and Jastrow is focused on bringing value to shareholders through cost-effective delivery of goods and services to customers and aggressively serving the markets for each of Temple-Inland’s strategic businesses.
Jastrow takes a similar approach to education, believing strongly in the power of higher education and the international reputation of UT Austin and its McCombs School. After completing his undergraduate business degree at UT in 1969, he stayed to complete his MBA in 1971 and is therefore well acquainted with the life-changing possibilities of an education from UT Austin.
Jastrow notes humbly that “It is a privilege to give back to The University of Texas through life-long service, in order to continue the advancement of higher education.” Backing up this belief, Jastrow has served as former Chairman of the McCombs School Advisory Council and UT’s Development Board. He is also Chairman of UT Austin’s Commission of 125, a group of national leaders convened in 2003 to help President Larry Faulkner chart the University’s future course.
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Charles Tate (BBA 68) rounds out the slate of honorees for 2003. A private equity investor whose career began on Wall Street, Tate notes with more than a little Longhorn pride that he was the first Texan to become Partner at Morgan Stanley, a venerable and prestigious investment banking firm. He rose to Managing Director of Morgan Stanley’s Mergers and Acquisitions Department, as well as its Merchant Banking Division, before joining Hicks, Muse, Tate & Furst as a Partner and member of the Management Committee.
Tate played a major role in establishing the firm’s presence in New York, and in extending the firm’s investment activities into Mexico and Latin America. Throughout his career, he has participated in more than $100 billion in private equity transactions spanning the United States, Europe, Asia, Mexico, and Latin America.
Tate remains actively engaged with the University in volunteer leadership and advisory capacities. As chairman of the External Advisory Committee of the Department of Biomedical Engineering, as a member of the Executive Committee of President Faulkner’s Commission of 125, and as a member of The University Cancer Foundation Board of Visitors for M.D. Anderson Cancer Center, he regularly lends his insight to University leadership.
Reflecting his belief in the transformational power of UT Austin, Tate also financially supports many of its centers of excellence, and has been a generous benefactor of the Harry Ransom Center, Center for American History, Blanton Museum of Art, the Schools of Fine Arts and Engineering, the Longhorn Foundation and, of course, the McCombs School.
Tate sums up his motivation for such loyal support: “An outstanding education, a broadened perspective on Texas and the world, life-long mentors, and enduring friendships are some of the most valuable gifts I received during my years at UT.”
For additional information, including a list of former inductees, or to submit a nomination for future Hall of Fame candidates, visit http://www.mccombs.utexas.edu/dean/halloffame.
For information on specific programs at the McCombs School, consult our contacts page. For media information, contact the Communications Director by phone at 512-471-3314 or by email at CommunicationsDirector@mccombs.utexas.edu.
