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Goolsby Leadership Academy meets $3 million challenge

News Release — 8 October 2009

FOR IMMEDIATE RELEASE

Media contact: Herb Booth, (817) 272-7075, hbooth@uta.edu

ARLINGTON - Lockheed Martin Corp. has helped The University of Texas at Arlington complete a $3 million challenge that will prepare future business leaders and fund faculty support for the College of Business' Goolsby Leadership Academy.

The Goolsby Leadership Academy was established in 2003 as a leadership development program for select undergraduate business majors through an anonymous $2 million gift made in honor of former Howard Hughes Corp. CEO John Goolsby (BBA '64) and his wife Judy.

Half of the $2 million initial gift was designated to support scholarships; the other half was designated for faculty support. The donor required the College of Business to raise an additional $2 million for scholarships and an additional $1 million for faculty support.

Lockheed Martin enabled the college to meet the goal with today's new $40,000 gift, which establishes the Lockheed Martin-Goolsby Endowed Scholarship and Program Support to benefit the Academy.

"Development of the next generation of business leaders is an essential need," said Craig Happel, Lockheed Martin's deputy to the vice president of business ventures.  "Lockheed Martin is looking to today's brightest students to one day lead with the highest level of competence and integrity. The Goolsby Leadership Academy is a remarkable institution, and Lockheed Martin's investment in tomorrow's leaders benefits the North Texas region, the state, the nation and the global marketplace. The academy is a venture that will pay back in huge dividends."

The Academy takes high-achieving business students beyond the classroom through ethics training, team building and other skills vital in today's business world. The endowment supports several distinguished faculty positions in the Academy and provides each Goolsby scholar with a $2,000 scholarship each year of the two-year program.

Undergraduates apply to the academy in the spring before their junior year. New scholars are selected to fill a 30-member cohort through a competitive selection process based primarily on academic performance and demonstrated leadership potential. Scholars progress through the program as a team-based unit.

"The Goolsby Leadership Academy is a step beyond the conventional business educational experience," said Daniel Himarios, dean of the UT Arlington College of Business. "It's a special program that cultivates the unique leadership qualities of some of our most promising students. We are grateful to Lockheed Martin's investment in the Academy, which completes the college's $3 million fundraising challenge. More importantly, the Lockheed Martin-Goolsby Endowed Scholarship and Program Support will benefit the academy and its scholars in perpetuity."

About UT Arlington and the College of Business

With a commitment to life-enhancing research, teaching excellence and service to the community, The University of Texas at Arlington is the educational leader in the heart of the Dallas-Fort Worth region. The College of Business is home to innovative thinkers who know business and a place where blazing trails is the norm. One of the largest business schools in the nation, the college prepares more than 5,000 students each year for their roles as leaders, innovators and influencers in the global community.

About Lockheed Martin

Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 140,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The corporation reported 2008 sales of $42.7 billion.

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The University of Texas at Arlington is an Equal Opportunity/Affirmative Action employer.