Toolson receives college of business award
The College of Business celebrated its Annual Fall Awards Banquet by recognizing scholars and presenting its Distinguished Executive Alumnus Award to Kay Toolson, CEO of Monaco Coach Corporation, Thursday night.
Douglas Anderson, dean of the College of Business, began the evening by giving a welcome address and presented Toolson with the highest award given by the college.
“I’m not sure we’ve ever given our Distinguished Executive Alumnus Award to anyone more deserving than Mr. Toolson,” Anderson said. “Clearly he has had a strong and positive impact on many lives at Monaco Coach Corporation.”
Toolson and a partner purchased the company in 1987 when it was a small, specialty recreation vehicle manufacturer, recording $17 million in annual revenues. Today, it employs more than 5,400 employees and generates revenues of $1.3 billion, making a broad spectrum of custom-made recreational vehicles for celebrities such as Dolly Parton and Jackie Chan.
“Kay Toolson has been just the kind of leader we like to hold up as an example,” Anderson said. “He shows consistent respect for his employees and has developed a culture of integrity in his company.”
After accepting the award, Toolson spoke briefly and reminisced about his experiences at USU.
“USU’s College of Business is my home and where it all began,” he said. “Any student will get as good of an education at this university as you will anywhere in the world.”
Toolson, a native of Smithfield, Utah, completed his bachelor of science degree in business administration in 1968 and later returned to USU to earn his M.B.A. in 1970.
“There is no other school that can prepare you better than this school,” Toolson said. “No other school can give you the tools you need any better than USU.
Toolson said he’s a firm believer in the integrity, enthusiasm and desire the College of Business possesses.
“I learned a long time ago that you will have people come and knock you down, but you just have to keep getting up,” he said. “I look out to you young people and see the potential you have. You can be anything you want to be. I promise you will get as good of an education at this university as you will anywhere in the world. It isn’t about where you get your education, it’s about what you learn and how you apply it.”
By setting his goal early on of becoming a CEO of his own company, Toolson realized more important things along the way, he said.
“You can achieve anything, but you have to recognize when you set your goals what is truly important to you,” Toolson said. “Not everyone wants to go to through the difficult challenges that are required to become a CEO. That was the goal I had at times early on in my life, but many times I thought I wouldn’t be able to achieve it. Don’t set your goals so high you can’t achieve them. Always be willing to reset them, or even totally change them as you grow and change in life.”
Toolson also mentioned his own definition of success.
“Success isn’t about being CEO, it is about being happy and fulfilled in your life,” he said. “Never get caught up in the power or stuck reading your own headlines. Success is having the piece of mind that you lived a good life, you’ve achieved something you wanted to and you made a difference in your life and others, making your community and world a little bit better place to live in.”
Anderson said he is pleased and honored to recognize such a humble leader.
“When asked about his accomplishments, he turns the focus to the people he has worked with,” Anderson said.
One suggestion Toolson provided business students with learning a second language.
“I would highly recommend Mandarin,” he said. “China is one our biggest competitors and also a great opportunity. Another great one would be Spanish.”
Following Toolson’s remarks, many others were recognized, including 19 professors for their dedication, expertise and innovation.
Brian Watson, recipient of the J.D. Clark Family Scholarship, represented more than 260 students who received scholarships this year as he thanked alumni, scholarship donors and business students.
According to the college’s Web site, USU’s College of Business is one of the oldest in the country, giving its first degrees in 1894. The College of Business has approximately 2,000 students and 84 faculty members, including seven new professors this year. There are 11 undergraduate majors, 10 graduate programs and two doctorate programs within the college, as well as 13 professional student organizations.