James T. Little, Ph.D., became the first recipient of the Donald Danforth, Jr. Distinguished Professorship in Business in a ceremony at the Charles F. Knight Center. The professorship was established last year in the John M. Olin School of Business to honor Washington University alumnus and distinguished community and business leader, Donald Danforth, Jr., and to recognize the many contributions of the Danforth Foundation, which he helped guide as a trustee.
“Donald Danforth, Jr. left an impressive legacy in the region as a business leader and community philanthropist,” Chancellor Mark S. Wrighton said. “We are proud to have this professorship bear Don’s name and are delighted to recognize his important contributions to the University and to the St. Louis community.”
“Donald Danforth, Jr. was an eminent and distinguished leader in the St. Louis business community, and also an alumnus of the school,” said Mahendra Gupta, Ph.D., the Geraldine J. and Robert L. Virgil Professor of Accounting and Management, and dean of the Olin school. “The Danforths have been a prominent part of St. Louis for well over 100 years. The Danforth name is synonymous with excellence nationwide. Their support has been instrumental in making Olin a world class business school. We are privileged to honor and celebrate the Danforth legacy with this professorship,” he added.
The late Donald Danforth attended Princeton University for two years and completed a bachelor’s degree in business administration at Washington University in 1955. In 1967 he joined the Ralston Purina Company, which his grandfather, the first William H. Danforth, founded and which his father, the late Donald Danforth, Sr., headed. In 1972 he left Ralston Purina, where he had been an executive vice president and headed the agricultural products group; he remained a board member and major shareholder there for the rest of his life.
In addition, he was founding president of Danforth Agri-Resources. He served on the boards of numerous civic organizations, including the American Youth Foundation, which his grandfather founded, and the Brain Injury Association of Missouri, which he helped found. Danforth was widely regarded for his character, humor, and outstanding ability as a public speaker. His vision and support were especially instrumental in the creation of the Donald Danforth Plant Science Center in 1998.
Of primary importance to Danforth was his family: His wife, Carolyn; his children Carol, Kathy, Laura, Don, and Christopher; and his grandchildren.
Danforth passed away in 2001, but his legacy of leadership and service to society is carried on by his siblings: William, the 13th chancellor of Washington University and now chancellor emeritus and past chair of the University’s Board of Trustees; Dorothy Miller, an active supporter of the community; and John (Jack), the former U.S. Senator from Missouri and former U.S. Ambassador to the United Nations.
Little joined the Washington University economics department in Arts & Sciences in 1971, moving to Olin in 1982. He received a doctorate from the University of Minnesota, and completed his undergraduate studies at the University of British Columbia.
Praising his contributions to scholarship, Gupta said: “Jim Little is a great teacher, administrator, and researcher who has been a valuable member of the Olin faculty for more than 20 years, and whose career has been marked by many achievements.”
His research interests include the study of globalization for corporate strategies, the economics of the European Union, and insurance regulation. His areas of expertise are business policy and strategy, international economics, financial investments, and corporate finance. His extensive background also covers many areas of economics.
In addition, his administrative contributions have been pivotal to the growth of the Olin School. He serves as academic director of both the Executive MBA program here and the Washington University-Fudan University Executive MBA program offered in Shanghai. This program was recently ranked #1 in China, and #8 in the world by Financial Times newspaper.
This connection to China made him a natural candidate for appointment as a McDonnell International Scholars Academy Ambassador, a group of distinguished WUSTL faculty members who help develop international ties with other countries’ educational and research institutions. Furthermore, he leads the London summer program.