Honoring Retired IBD Faculty Director Frank Schultz
Written by Danner Doud-Martin
Our beloved IBD Faculty Director Frank Schultz has officially retired as of January 2020 from the IBD program, in addition to his other Berkeley Haas undergraduate and MBA teaching positions. Frank came to the IBD program 14 years ago as a Faculty Mentor, and took over the role of Faculty Director two years ago after Kristi Raube retired. He has worked with countless IBD clients and students over the years, continuing the long tradition of IBD program excellence in and out of the classroom. Frank was the first Faculty Mentor to work with Evening and Weekend MBAs (EWMBAs) on a summer version of the IBD program when it began in May 2012. Recent EWMBA graduate Nik Reddy ‘19 shared that “Frank was excellent at bridging the gap between what we learned in the classroom with what was needed in the ‘real world.’ His teaching approach encouraged his students to think with a client-centric mindset, and I think that’s what made IBD with Frank such an enriching experience for me.”
Frank traveled and taught throughout the world, bringing his global perspective to his work with the IBD program and other Berkeley Haas courses. Arman Zand has a unique perspective on Frank’s tenure, as he was a former EWMBA student of Frank’s, an IBD project client in 2013 and 2014, and he now serves as Frank’s replacement as the IBD EWMBA Faculty Mentor. Arman feels that “Frank’s career as a Haas professor may be best remembered by his classes in leadership or perhaps even his many trips around the world. But for certain students, like myself, Frank was not only a professor, but also a mentor, a coach, a business partner, and for many years, just someone I could have a beer with and share ideas.”
Frank’s impact went beyond his students and the IBD program to benefit Berkeley Haas overall. Jay Stowsky, Senior Assistant Dean for Instruction at Berkeley Haas, said this of Frank: “Frank Schultz has been not only an award-winning teacher, but one of the most service-minded faculty members I’ve had the privilege to work with during my 17 years at Haas. When he came to Haas nearly 15 years ago, Frank quickly made a strong impact on the School’s teaching mission as a thoughtful, highly skilled, and versatile teacher and as a dedicated and effective leader outside the classroom.”
Frank touched many lives at Berkeley Haas, including the IBD team past and present. Former IBD Executive Director Kristi Raube said that “Frank was a stellar example of what it means to be a great colleague. He was thoughtful, supportive, collaborative, and easy to work with. He left an impression not only on his many, many students but also on his grateful colleagues. He can leave Berkeley Haas proud of the work he has done.”
We are all proud of the outstanding work Frank has done on behalf of the IBD program. In a small gathering recently to celebrate his dedication to IBD, we had a moment to talk with Frank about his new life in retirement. Please see the results of our interview with Frank below.
Danner Doud-Martin: What have you been doing with your free time?
Frank Schultz: I have been watching Tesla stock go up and down. I have been doing some traveling around California to destinations that I haven’t seen before, like Pismo Beach and Paso Robles. We also went to the iconic Madonna Inn and stayed in the William Tell Room.
I spent some time in a very cool monarch butterfly grove. It was also sad because the numbers of butterflies are plummeting. Now that both my wife and I are retired, we are able to take dancing lessons five days a week. We have been learning salsa, fox trot, rumba, bachata. I also have an upcoming trip to Hawaii.
I have also been taking a class at Code Academy to learn building financial models and Java Script. I am enjoying it as it is very logical and fits me well. I hope it will help me to make better investment decisions.
Danner Doud-Martin: Are you going to share this new financial model once you are done building it?
Frank Schultz: Sure? There are no good tools available that successfully track individual financial decisions. Ha, I am thinking like Haas professor Terry Odean. My father was a stock broker back in the day, so it’s always been part of my leadership and strategy style.
Danner Doud-Martin: What have you missed most about teaching since retirement?
Frank Schultz: I miss the IBD staff. I miss the students, but I don’t miss the grading.
Danner Doud-Martin: Are you dabbling in any work or volunteer opportunities?
Frank Schultz: Once a month I get the opportunity to engage with the Berkeley Executive Education program. This allows me to stay active in teaching with more flexible scheduling, and the best part is that there is no grading requirement.
Danner Doud-Martin: What are you looking forward to doing in your retirement?
Frank Schultz: A lot more of the above activities plus more reading and more traveling. I have offered to help with BOOST, Haas Zero Waste efforts and IBD, but no calls yet.
Danner Doud-Martin: Wait a second. We called! You are helping us with the first day of IBD class and the Big Reveal.
Frank Schultz: That’s true. I am returning to help with the team building exercise on February 20th. That’s going to be a great day, seeing all the IBD Team Members finding out their projects. I do love that day in the IBD program.
Danner Doud-Martin: How has retirement been for you and your wife Jennifer (also a former Berkeley Haas staff person)?
Frank Schultz: It’s been really good. We don’t have over packed schedules any more. Having time in the schedule has been really good for stress. I recommend it for you all.
Danner Doud-Martin: Do you have any advice to give to IBD students?
Frank Schultz: I always tell this story about how I tend towards being conservative when sharing my thoughts and ideas in groups of people. I have wanted to make sure that I had all the right answers and I wouldn’t say anything unless I was sure it was correct. One time I was with former IBD Faculty Mentor Jo Mackness (now Assistant Vice Chancellor and Chief Operating Officer, Student Affairs at UC Berkeley), and I finally shared something and Jo responds, “that was epic.” I waited 30 years to speak up and have this brilliant idea and finally when I just said something, I got “epic.” I tell students, don’t wait. Speak up, even if you don’t think it’s “brilliant.”
Danner Doud-Martin: Do you have any advice for all us IBD staff and faculty that you left behind?
Frank Schultz: It is hard to fully appreciate the impact you are having on students in a course like IBD. The feedback is all over the place and at times it is really tough. But you ARE having more of an impact on a student’s learning than you realize. Remember that.
Now that we have launched the spring 2020 FTMBA IBD program, all of us in the IBD staff miss Frank. We are excited for him as he embraces his newly retired life, and we hope he will return to say hello and show us some of his newly practiced dance moves. Congratulations, Frank Schultz!