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For Release
06 JUN '03

Krause Foundation donates $2 million

The Citadel receives $2 million from The Krause Foundation to encourage Leadership Development

Charleston, SC - The Krause Foundation of Los Altos Hills, California has committed to giving $2 million dollars to The Citadel Foundation to support, advance, and endow leadership activities conducted by The Citadel. Initiated by Bill and Gay Krause, the gift will fund The Krause Initiative in Leadership and will endow and establish The Krause Chair in Leadership.

This fund will support the creation and administrative expenses of a new initiative in ethics and character development that is designed to strengthen the college’s preparation of principled leaders. Mr. Krause states that "The Krause Initiative in Leadership will enable The Citadel to integrate leadership models and ethical principles into continuously expanding aspects of campus activities and create much needed leaders with high integrity for society."

The essential goal of The Krause Initiative in Leadership is to engage students in a discussion of leadership principles, character development, and ethics. "Such qualities are the centerpiece of a Citadel education, which is based on an honor code that expects cadets not to lie, cheat or steal or tolerate those who do," remarks Major General John S. Grinalds, President of the College. With the program’s particular emphasis on the honor code, cadets will be challenged to study the practice and supporting theory of leadership in everyday life through an interdisciplinary, strategic, and action-oriented approach.

Regardless of their majors or fields of study, cadets will emerge as better problem-solvers, strategists, innovators, and team-builders. The Krause Initiative will also provide operating support for an individual who will coordinate leadership activities through campus programs and steward the program through its formative years.

Bill Krause, The Citadel Class of 1963, is currently Chairman and CEO of Caspian Networks an Internet networking systems company. However, Krause is perhaps best known as President and CEO of 3Com Corporation through the company’s high growth years in the 1980s, and as chairman of the 3Com board from the late 1980s through 1993. Krause’s leadership transformed 3Com from a venture capital start-up into a $600 million publicly traded data networking company with operations worldwide.

In addition to his involvement with 3Com, Krause spent 14 years at Hewlett-Packard, and served as President and CEO of the digital imaging company Storm Technology, Inc. He has been president of LWK Ventures, a private investment firm, since November 1998.

Gay Krause, Bill’s wife and a former elementary school teacher, counselor, and middle school principal in Mountain View, California, has been instrumental in developing the Krause Center for Innovation, a teacher training center at Foothill College. As Executive Director of the Krause Center for Innovation, Mrs. Krause has established an outstanding regional technology-training center for educators in Silicon Valley.

Through their extensive community commitments, both Bill and Gay Krause have demonstrated their profound commitment to leadership, innovation and education. The Citadel Foundation is pleased to express its gratitude for the Krauses’ long-term dedication, through The Krause Initiative in Leadership, to ethics and character development at The Citadel.

The Citadel is a comprehensive college that is best known as the home of the South Carolina Corps of Cadets with about 1800 students who are educated under a classic military system. Founded in 1842 in Charleston, SC, The Citadel is a state-assisted college with a rich historic tradition that has provided leaders in all sectors of business, the military, government and the professions. Academically, the college is among the top institutions in the country for its four-year graduation rate and has a nationally-recognized engineering school. About a third of Citadel graduates are commissioned into the military each year.

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