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Stanford Business School Honors General Atlantic's Steven A. Denning with Excellence in Leadership Award

April 19 2007

STANFORD GRADUATE SCHOOL OF BUSINESS—Steven A. Denning, the chairman of General Atlantic LLC and the 2007 recipient of the School's Excellence in Leadership Award, said his willingness to take on new, if untested, paths played a critical role in his success as a business leader.

Denning, MBA '78, was honored for his achievements and contributions to the School at a dinner held at the Rainbow Room at Rockefeller Center in New York on April 19. The award is given to an outstanding graduate of the School who has made a mark in the corporate world and the community at large.

"I have consciously put myself in situations that I knew would be challenging and would require both professional and personal growth," Denning said at the event. "Frequently, when I decided to pursue these more uncertain, but potentially more rewarding, courses of action, I was quite aware that I might not be successful. But I also knew myself well enough to know that I was much better in situations that were challenging and where success was not assured than the reverse."

Denning cited his decision to work for McKinsey & Co. in Amsterdam in the summer of 1977. The experience was an eye-opener for Denning who said it sparked a lifelong interest in global business.

Globalization is "a topic for which I have real passion," which is ironic, he said, for someone who never traveled outside the five contiguous Western states before his senior year in high school and who had never been on a plane before he flew out to enter Georgia Institute of Technology.

He lamented that many public leaders do not understand the inevitability of globalization. "With or without us, the 21st century will globalize and the 9 billion plus people on the planet will reap the benefits of globalization or bear the brunt of its forces."

Noting that "socially responsible and insightful management is a critical resource in short supply," Robert L. Joss, the Philip H. Knight Professor and Dean of the School, said the leadership award "recognizes the achievements of an alumnus who has exhibited the integrity and leadership ability that we hope all our students will demonstrate throughout their careers."

"Steve brings a passion to his professional, personal, and service life," Joss added. "He takes a stand and pulls people along with him."

Denning has been with General Atlantic, a leading global private equity firm, since 1980. He has built the organization around investments in technologies that have the potential to change markets and industries in ways that contribute to society. Through the firm's investments in innovative ideas, Denning and his management team have helped shape the future of more than 160 companies.

With more than $12 billion in capital under management, General Atlantic has current holdings in some 50 companies. The Greenwich, Conn.-based company's offices span continents from New York and Palo Alto to Düsseldorf, Hong Kong, London, and Mumbai.

Between earning his MBA and joining General Atlantic, Denning worked for McKinsey & Co. Prior to the MBA, he served six years in the U.S. Navy, where he obtained an MS from the Naval Postgraduate School in Monterey, Calif. He earned a BS degree from Georgia Institute of Technology in 1970.

Denning is chairman of the Stanford Graduate School of Business Advisory Council and is a member of the board of trustees of Stanford University. He also serves as co-chair of Stanford's $4.3 billion fundraising effort, The Stanford Challenge: Seeking Solutions, Educating Leaders, announced in October 2006.

"At Stanford, Steve appreciated early the changes coming in global business," Joss said. "He has exerted tremendous leadership to encourage the School to innovate in the global dimension."

Denning's wife, Roberta Bowman Denning, also MBA '78 and a 1975 graduate of Stanford University, has been a dedicated and active partner in their philanthropy, particularly in the development and support of the arts. Her service to the University includes involvement in the Stanford Arts Initiative, membership on the University's Humanities and Sciences Council and on the Steering Committee for The Stanford Challenge. The Dennings have been generous donors to Stanford University and the Graduate School of Business over many years.

Denning is also vice chairman of the board of the National Parks Conservation Association. He is a member of the board of the American Museum of Natural History, a member of the advisory board of the School of Economics and Management at Tsinghua University in Beijing, a member of the Council on Foreign Relations, a member of the McKinsey Investment Office Advisory Council, and a member of the board of governors of the Partnership for Public Service.