Laurence M. Downes '79, '81MBA, '17H

Laurence M. Downes '79, '81MBA, '17H is the retired Chairman and CEO of New Jersey Resources, where he guided the company through decades of growth and strategic transformation. Before becoming CEO, he held senior leadership roles within the company, including Executive Vice President and CFO. Downes is recognized for his expertise in energy infrastructure, corporate governance, and long-standing commitment to sustainability and community service.

Why did you choose Iona to pursue your MBA?  

I had a very successful academic experience with the undergraduate finance program and decided to pursue an MBA

How did your MBA help you in your career?  

My MBA gave me the tools to become Chief Financial Officer of New Jersey Resources, a New York Stock Exchange company, at the age of 32. That was followed by my being named Chief Executive Officer and Chairman at age 38. I remained in those roles for nearly 25 years.

What is your advice for current students?  

My advice is to strive to learn something new every day and understand that life is about learning, teaching, and sharing.  It’s also important to realize that everyone is a leader and learn from their experiences. And finally, be humble enough to know that you don’t know everything.

What is your fondest memory/favorite faculty member at Iona?  

During my tenure at Iona, I was blessed with a talented and caring faculty. Two professors in particular, Dr. Berislav Karcic and Dr. Martin Zweig, taught me the fundamentals of strategy and finance, which guided my career for over four decades. I pray for them every day.

What is your favorite movie, book, TV show or podcast?

I read everything by Roger Martin, Andrew Ross Sorkin, Jim Collins and Andrew Grove. Right now, my most recommended books are Playing to Win and A New Way to Think by Roger Martin and 1929 by Andrew Ross Sorkin. I’m also an avid 50-year fan of Bob Dylan.

What do you believe are your secrets to success?  

I believe my secrets to success begin with focusing on the fundamentals—doing the simple things well and consistently. I’ve also learned to be grateful to all the people who help you, because no one succeeds alone. Also, share what you have learned with others and encourage others to do the same. And finally, never forget the importance of your faith - good timing, good luck and the good Lord drive success.