News
April 13
"Those who work harder somehow just end up doing better," Vice President of the Board of Trustees and ARAMARK Chairman Joseph Neubauer told a packed Barnum 008 audience yesterday evening.
Neubauer was invited by the Lyon and Bendheim Alumni Lecture Series, the recent project of two Tufts alumni, J.B. Lyon and Tom Bendheim (both '85), aimed to bring alumni together with students on campus, as well as with other alumni.
The lecture series is also focused on celebrating the entrepreneurial achievements of alumni.
"What we have found is that these alumni, like Neubauer, are always thrilled to come back," Bendheim, the current Rheingold Beer CEO,said.
After graduating with a B.S. from Tufts in 1963, Neubauer earned his MBA from the University of Chicago and quickly rose in the ranks of the business world, particularly with his commitment to ARAMARK.
ARAMARK provides outsourced services and is one of the world's leading service and problem-solving corporations. The company has witnessed continual innovative, financial, and economic success. In 2002, AMARAK was named one of the nation's most admired companies by Fortune magazine.
"The greatest thing about my time spent at ARAMARK is that the people here come to work everyday, wanting to do their best for you," he said. "We don't wake up every morning and think 'What is someone is trying to steal from us? Trying to cheat us?'"
Despite his achievements in the business world, Neubauer was adamant that the most important aspect of his success is his ability to give back to his community, which includes Tufts.
"Analytical work, cooperation, trust, giving back to people -- all of these things I learned when I was at Tufts, yet they continue to apply 40 years later," Neubauer said. "Everything in my life that has been good to me has been built on trust."
Neubauer presented a brief video clip of one of ARAMARK's most recent projects: the American Museum of Natural History in New York City. Neubauer explained how ARAMARK successfully solved a severe dust problem which had been threatening the preservation of hundreds of artifacts, as well as building a large water-chilling system and roof maintenance.
ARAMARK began in 1936, during the Great Depression, when its founder, Davre Davidson, made a living out of selling bagged peanuts to bars across the country. Davidson's passion for "delivering your promises" is the basis on which ARAMARK operates today, Neubauer said.
The company established itself as the Automatic Retailers of America (ARA) in 1959 as a service and vending company. "We still have some of the same customers today as we had back in 1959," Neubauer said.
In 1979, Neubauer joined the ranks of ARA as executive vice president of finance and development, CFO, and a member of the company's board of directors. According to Neubauer, he entered at a time when the company was only operating on a "mediocre" level.
Neubauer continued to rise to become company president and COO in 1981, and then to the position of chairman, a post at which he has remained for the past 20 years.
During this time, ARA changed its name to become ARAMARK. After a hostile takeover attempt by PepsiCo in 1984, Neubauer and a group of executives coordinated a management buyout, which resulted in the privatization of the company.
In 2001, ARAMARK underwent another IPO and listed on the New York Stock Exchange.
Neubauer credits ARAMARK's decision to go public with the events of Sept. 11, 2001, which took the lives of seven ARAMARK employees. "There was no better time to want to give back even more, to dedicate our services," Neubauer said.
Neubauer's presentation was well-attended by students, alumni, and University officials, including President Larry Bacow, Provost Jamshed Bharucha, and Director of Alumni Relations Tim Brooks.
"I wanted to learn about his work because I had just read an article about him. I was very interested in how this transformation of a company happened," sophomore Edward Jun Lee said.
Currently, ARAMARK is a $10 billion company that employs 200,000 people from around the world, including Ireland, Chile, Japan, Korea, and Spain. Clients include Federal Express, Boston University, the Boston Red Sox, British Petroleum, Wendy's, and Exxon-Mobil.