Leo Guthart

Leo Guthart is an American economist and businessman. Guthart is a former Vice Chairman of the Pittway Corporation, and co-founder of the Long Island Research Institute, Topspin Partners, and the Long Island Venture Fund.

Leo Guthart graduated from Harvard College with a BA degree in Physics in 1958. He later attended Harvard Business School, where he received both an MBA in 1960^[1] and later a Doctorate in Business Administration.^[2] As a writer, his work has appeared in textbooks, including Financial Management; Cases and Readings by Pearson Hunt and Victor Andrews.^[3]

Leo Guthart’s research as a doctoral candidate at Harvard Business School found that companies were repurchasing larger amounts of their own stock than had generally been realized, determining that these purchases had become a previously underappreciated factor in the stock market,^[4][5][6][7] tracking the trend from 1954 to 1963.^[8][9] He also wrote in 1965 that the practice would become more widespread.^[10] Guthart joined ADEMCO in 1963, which grew to the world’s largest manufacturer of security and alarm devices by 1992,^[11] under the leadership of Guthart.^[2] He then served as Vice Chairman of Pittway Corporation and Chief Executive Officer of its Security Group of Companies, including ADEMCO, until its sale to Honeywell in 2000.^[12] Simon Hakim and Erwin Blackstone wrote of Guthart’s role that ADEMCO’s “success” over the years, “can be attributed to Leo Guthart, [his] innovative behavior and willingness to take risks”.^[13] Guthart has also worked with technology transfer, focusing on commercializing the scientific work of research organizations. He also co-founded the Long Island Research Institute, alongside the Brookhaven National Laboratory, Cold Spring Harbor Laboratory, North Shore University Hospital, and Stony Brook University.^[14] In 1993 Guthart co-founded the Long Island Venture Fund with James Simons,^[15] and in 2000 he and Simons formed Topspin Partners, LP.^[16] Guthart is currently Vice Chairman of Accelerate Long Island.^[17] Guthart has also served as the Chairman of the Cylink Corporation.^[18]

Guthart was elected Chairman of the Board of Trustees of Hofstra University in 1993^[19] and is currently a member of the Hofstra Board of Trustees.^[20] In 2021, Hofstra University announced that a business school building on its campus will be known as the Leo A. Guthart Hall for Innovation and Discovery.^[21] Guthart is also the Treasurer and serves on the Executive Committee of the Cold Spring Harbor Laboratory,^[22] whose campus complex features the Laurie and Leo Guthart Discovery Tower in honor of his late wife.^[23] Guthart also established the Laurie Carrol Guthart Professorship in Medicine in the Field of Neuroendocrinology at Harvard Medical School.^[24] In 2010, Guthart was inducted into the Long Island Technology Hall of Fame.^[25][26]