Three CEOs with Texas Tech degrees took their companies public.
Texas Tech University ranked second among universities in the initial public offering (IPO) class of 2014, according to a list compiled by Equilar, an executive compensation data firm. Three CEOs who earned their undergraduate degrees from Texas Tech took their companies public during 2014.
Steven Gray, CEO of RSP Permian, Inc., had an IPO date of Jan. 17, 2014; Lynn Bourdon, III, took Enable Midstream Partners, LP public on April 11, 2014; and Jack Clem, CEO of Orion Engineered Carbons S.A., had an IPO date of July 25, 2014.
“I'd like to congratulate these individuals for their professional accomplishments and thank them for the wonderful representation of Texas Tech University,” Texas Tech President M. Duane Nellis said. “Their hard work to elevate their companies and themselves is reflective of the entrepreneurial passion we try to instill in all of our students.”
Texas Tech tied with Columbia University, Stanford University and the University of North Carolina. Each school produced three CEOs. Harvard was first with seven CEOs taking their companies public in 2014.
Companies led by CEOs produced by Texas Tech also had an average gain increase of about 7 percent, according to Equilar.
Bourdon graduated from Texas Tech with a bachelor's degree in mechanical engineering in 1984. He became president and CEO of Enable Midstream Partners, LP in February 2014.
“I feel very fortunate to have been able to attend and graduate from Texas Tech with a degree in mechanical engineering,” Bourdon said. “I will always be grateful for the time, effort and teaching afforded me by my professors. The education gained at Texas Tech provided a solid foundation of knowledge which I was able to use in the many different roles I have had since graduating. Today, I also feel fortunate to use these same principles to help build Enable Midstream Partners into the country's preferred provider of midstream energy services.”
Clem obtained a bachelor's degree in mechanical engineering at Texas Tech in 1975. The Whitacre College of Engineering awarded him the distinguished engineer citation in 1993. Clem has been CEO of Orion Engineered Carbons since July 2011 and became manager of the company in May 2014.
“I was pleased to see Texas Tech on this list,” Clem said. “My degree from Texas Tech provided a solid foundation for a career that went from engineering to chief executive to CEO of a NYSE listed company.”
Gray graduated from Texas Tech with a bachelor's degree in petroleum engineering. He co-founded RSP Permian in 2010, which is when he became CEO.
“RSP Permian is very fortunate to have many Texas Tech graduates employed, including myself,” Gray said. “I look back at my time at Texas Tech fondly and am very proud to be a Red Raider. My 30-plus years in the industry would not have been possible without the education I received from the Bob L. Herd Department of Petroleum Engineering at Texas Tech. Texas Tech has a great reputation for turning out excellent engineers in the oil and gas industry. I am proud to be part of the continuing success of the university.”
The rankings included 84 schools and represented undergraduate and graduate institutions. They focused on IPOs that raised at least $100 million in 2014, according to the Associated Press.
According to the Whitacre College of Engineering, approximately 450 of its graduates are presidents or CEOs of organizations.
“These alumni's distinctive achievements are representative of the entrepreneurial and innovative spirit that our graduates bring to the table,” said Al Sacco Jr., dean of the Whitacre College of Engineering. “Red Raider engineers are leading the advancement of technology and forging solutions to society's problems all over the world.”