CREATING HIS OWN SUCCESS STORY Encouraged by the lessons of his parents—and inspired by his love of engineering—Shimp set out to fashion his own success story. With a young man’s desire to leave his hometown for a few years, he earned his bachelor’s degree in Mechanical Engineering at Lehigh University in 1973. Following graduation, Shimp joined the Marine Corps aviation program, where he first flew planes, then conducted critical research on rockets, air defense systems, and nuclear weapons.
While conducting this research, Shimp became interested in the business aspects of technology development. “In my undergraduate education and my work with the Marine Corps, I learned a lot of technical content,” notes Shimp. “But I began to wonder, ‘How can you establish a successful company around tech- nology? How do the worlds of business and research intersect?’”
Fueled by these questions—and, perhaps, also pulled by his family legacy—Shimp returned to Pittsburgh to study at Carnegie Mellon. In 1979, he graduated with a dual degree: an M.E. in Mechanical Engineering and an M.S. in Industrial Administration. “I loved my time at Carnegie Mellon,” says Shimp. “For the first time, I was able to under- stand the interrelationships among engineering, technology development, and running a suc- cessful company. I learned the tools needed to earn a profit from a great scientific idea. I was combining engineering theory with practical business lessons for the first time—and that was a life-changing experience for me.” As a distinguished graduate, Shimp was
recruited by the Cleveland office of consulting firm Booz Allen Hamilton. He spent the next two years helping companies overcome their stra- tegic challenges—but he missed the hands-on nature of his previous work as an engineer.
“I was looking for a position that would com- bine my technical expertise with my knowledge of business management,” Shimp remembers. “I had a unique combination of skills that I was looking to maximize.”
Shimp found the perfect opportunity when he
was recruited by a client, GE Lighting. He steadily rose through the ranks in the company’s high- temperature materials business, a $350 million division which was known for its high profits— but also for its high degree of technical content. In managing the engineering, production, and marketing of these high-tech materials—sold primarily to semiconductor clients—Shimp was able to combine his business acumen with his technical insights. He remained at the company for a decade, eventually becoming Vice Presi- dent and Division General Manager. He also met his wife Helen, who enabled him to combine his growing professional success with a rich and rewarding personal life.
BEGINNING A NEW CHAPTER In 1991, at the pinnacle of his success, Shimp was approached by a retired former boss at GE with a unique proposition: an invitation to become a junior partner in a new private equity firm. “With my business and technical background, it seemed like the ideal next step—and an excit- ing new venture,” explains Shimp. “I could help small businesses improve their technologies, commercialize their ideas, and achieve incredible success. I immediately wanted to seize the opportunity.”
But Shimp hesitated for a slew of practical
reasons. He was 38 years old, and a very successful executive at GE. He and Helen had just had their first child. While the idea of a new venture was thrilling, it was also fraught with risk. “When I came home and talked the opportu- nity over with Helen, I was surprised by her swift reaction,” recalls Shimp. “She said, ‘I know you
“ My grand- parents really
instilled this idea that in- stitutions like Carnegie Mellon are a pathway to achieving a dream. This University has been so impor- tant to me and my family.”
Continued on page 12 › CARNEGIE MECH 11
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