Alumni News Harry Shimp Carries on a Family Tradition continued
can do this. You will be successful. I trust you completely, and you absolutely have to do this.’ Her confidence in me was overwhelming. And she convinced me that I had to take this giant leap of faith. That moment changed my life, and I owe it all to her.” Unfortunately, the companies managed by the new firm relied heavily on defense contracts. With the end of the Gulf War, their business prospects were no longer promising by 1993. Shimp and his partner made the difficult decision to dissolve their firm that year.
FINDING HIS DESTINY
While his partnership had ended, Shimp believed that, with Helen’s support, he had found his true calling as a venture capitalist. He quickly joined with fellow Carnegie Mellon Industrial Admin- istration alum Donald McMurchy (M.S. 1980) to found their own private equity firm, Charon Industries.
Named for the mythological ferryman who transports the dead over the River Styx, Charon was founded to help small high-tech businesses transform themselves and achieve new levels of success. “We chose the name because we are agents of change,” explains Shimp. As President and Chief Executive Officer (CEO)
of Charon, since 1993 Shimp has had profit- and-loss responsibility for 17 different industrial manufacturing and manufacturing service businesses. He has helped companies in a range of industries—including water chemistry, engineered materials, precision optics, and aerospace—identify and address their most critical strategic challenges. One of Shimp’s most notable successes was Solarex, a photovoltaic company that was acquired by BP in 1999. Shimp served as President and CEO of BP Solar for the next four years, leading the division to an annual growth rate of 55 percent and eventually capturing nearly 20 percent of the global solar market. Today, Shimp serves as the CEO or Chairman of four middle-market manufacturing companies that serve the energy and aerospace markets. With his valuable insights, he also serves on the boards of numerous other technology-focused businesses.
12 CARNEGIE MECH
Shimp’s professional success has been matched in equal measure with personal hap- piness. His three children with Helen are creating their own success stories. Continuing a family legacy, Elizabeth is a senior engineering major and Jon Paul is a junior engineering major. Both attend Miami University of Ohio. Son Christian, a high school freshman, also plans to follow the Shimp family tradition by pursuing an engineer- ing education, hopefully at Carnegie Mellon.
ONCE A TARTAN, ALWAYS A TARTAN While Harry Shimp has found incredible success as an agent of change, one thing has remained constant: his close ties to Carnegie Mellon Uni- versity. Since he graduated in 1979 and moved to Ohio, he has made frequent visits back to the Pittsburgh campus. “Carnegie Mellon—and the Department of Mechanical Engineering—will always be an im- portant part of my history,” Shimp points out. “I think it’s critical to stay in touch with the Universi- ty and serve as a mentor to students. Successful people in all fields should make an effort to come back to campus and expose current students to different career paths. It’s all part of the idea of giving something back.” “My grandparents really instilled this idea that institutions like Carnegie Mellon are a pathway to achieving a dream,” he adds. “This University has been so important to me and my family. I really feel that it’s my obligation to help other young people advance by actively supporting Carnegie Mellon.”•
Shimp’s mother Peggy (left) was a member of the Margaret Morrison rifle team—which won the NCAA championship in 1937.
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