NEWARK, N.J., Jan. 12, 2016 /PRNewswire-USNewswire/ -- NJIT's School of Management (SOM), which shapes students to become technology leaders, managers and powerbrokers, will be named March 3, 2016 in honor of distinguished alumnus Martin Tuchman. This is the first time in the school's 27-year history that it will carry a formal name: The Martin Tuchman School of Management.
Tuchman, a philanthropist and entrepreneur, earned his bachelor's in mechanical engineering from NJIT in 1962. Soon after, Tuchman started his career at Railway Express Agency as an automotive engineer. In this position he and a team of shipping engineers developed the current standard for intermodal containers and chassis. The purpose of the innovation was to allow for total interchangeability of equipment in every mode: rail, truck and ship, as well as structural integrity. The standard is still in use.
"Marty Tuchman has always been an innovator in technology and business, and an alumnus who is generous with his time on the behalf of his alma mater. He has been a longtime adviser and friend to me personally and to the university," said NJIT President Joel S. Bloom. "He's an exemplar for our students who need to understand the interstices of technology, business and life in order to succeed. We're honored and delighted to have the School of Management named after Marty Tuchman."
In 1968, Tuchman and his colleague Warren Serenbetz founded Interpool, one of the nation's leading container leasing corporations. In 1987, just a year before SOM was founded, Tuchman formed Trac Lease and developed it into the largest chassis leasing company in the United States. In July 2007, Tuchman sold Interpool to a private equity firm for approximately $2.4 billion.
"I believe so strongly in NJIT's programs and vision that I provide support through time and resources for its endeavors. The leadership and faculty are devoted to propelling NJIT to the next level by focusing on the hands-on principles that engineers and others will use throughout their careers," said Tuchman. "I'm particularly excited about the new direction of the School of Management and its attention to the critical intersection of management and technology."
Tuchman has served and supported NJIT throughout the years, and was the recipient of the Alumni of the Year Award (1996), served as a member of NJIT's Board of Trustees (1996-2002) and is currently a member of the NJIT Board of Overseers. A loyal Highlander, Tuchman made his first donation as a young alumnus, just a few years after graduation. Since, he has generously given for scholarships and to support other causes, culminating in a recent gift.
Born in New York but raised in New Jersey, Tuchman currently is the chief executive officer of the Kingstone Capital V, an investment firm with holdings in real estate, banking and international shipping. Additionally, Tuchman serves as chairman of The Tuchman Foundation, which is an umbrella company for the Tuchman Foundation and Parkinson's Alliance, which works closely with Parkinson's research organizations that seek grants and approval from the National Institute of Health.
"It's that groundbreaking spirit of innovation coupled with a true concern about the world around us, which Mr. Tuchman embodies, that we hope to instill in our students," said SOM Dean Reggie Caudill. "He has succeeded in the professional world and used his resources to make the world a better place for those less fortunate. He has a pioneering way of looking at business and what it means to be successful. We like to call that STEM2, or expanding the power of STEM by adding the management component."
SOM focuses on delivering highly valued-academic programs that are business focused, technology integrated and experientially driven to educate and prepare students not only to be competitive in today's business world but also to excel and be leaders in the future. SOM is business with the power of STEM.
"Having the School of Management named after my family is a great honor," said Tuchman. "The school focuses on creatively solving new world business problems in our technology driven economy and that is exciting. I look forward to witnessing the new opportunities available to the next generation of entrepreneurs."
Tuchman, who earned his MBA at Seton Hall, devotes his free time to numerous boards and philanthropic enterprises. Some of the organizations include: the American Cancer Society of Mercer County, Trenton Area Soup Kitchen, Parkinson's Disease Foundation at Columbia Presbyterian Hospital in New York, Robert Wood Johnson-Hamilton, the United Nations Association of the United States of America, and the New Jersey Commission on National and Community Service. In banking, he served on Yardville National Bank's board of directors and currently serves as Chairman of First Choice Bank in Lawrenceville. In addition, Tuchman serves as Advisor on National Security to Congresswoman Carolyn B. Maloney of the 14th Congressional District.
Tuchman is also the recipient of numerous awards and honors including: being named as Entrepreneur of the Year by Ernst & Young LLP (1995); recognized by Cisco Systems for receiving the Grand Prize as part of the "Growing with Technology Awards" program for small and medium-sized businesses that are networked for growth through the innovative use of networking technology and the Internet (1999); and for preparing an extensive case study of Interpool, Inc. for the 2000 Computerworld Smithsonian Collection, which resulted in a nomination for the world Smithsonian Award and the awarding of the Hero medal (2000).
Tuchman's gift is part of the NJIT NEXT comprehensive campaign, which exceeded its $150 million goal two years early to become the largest fundraising effort in university history. The campaign, which raised $153,700,251 or 102 percent of the goal by June 30, 2015, supports scholarships, faculty fellowships, endowed chairs, programs and facilities. On Nov. 12, 2015, the NJIT NEXT campaign was extended to raise an additional $50 million.
More than 19,000 donors contributed gifts to NJIT NEXT since its launch in July 2007. Of those gifts 75 were leadership contributions of $250,000 or more, including several multimillion-dollar donations. To date, the NJIT NEXT campaign has raised more than $160 million.
One of the nation's leading public technological universities, New Jersey Institute of Technology (NJIT) is a top-tier research university that prepares students to become leaders in the technology-dependent economy of the 21st century. NJIT's multidisciplinary curriculum and computing-intensive approach to education provide technological proficiency, business acumen and leadership skills. With an enrollment of 11,000 graduate and undergraduate students, NJIT offers small-campus intimacy with the resources of a major public research university. NJIT is a global leader in such fields as solar research, nanotechnology, resilient design, tissue engineering, and cyber-security, in addition to others. NJIT ranks 5th among U.S. polytechnic universities in research expenditures, topping $110 million, and is among the top 1 percent of public colleges and universities in return on educational investment, according to PayScale.com.
SOURCE NJIT’s School of Management (SOM)