John A. Allison IV
Encyclopedia
John Allison was born on August 14, 1948, in Charlotte
, North Carolina
. He began his career with BB&T
in 1971 following his graduation from the University of North Carolina
with a degree in business administration. He also earned an MBA from the Fuqua School of Business
at Duke University
in 1974, and since has received an honorary doctorate from East Carolina University
and an honorary doctorate from Universidad Francisco Marroquín
. He serves on the Board of Visitors of the Fuqua School of Business
. He has a wife, Betty, and three children.
He is a major contributor to the Ayn Rand Institute
and assigns Rand's Atlas Shrugged
to all of his senior executives. Calling Atlas Shrugged "the best defense of capitalism ever written," Allison has seen to it that "the BB&T Charitable Foundation has given 25 colleges and universities several million dollars to start programs devoted to the study of Rand's books and economic philosophy."
In 2008, Allison was nominated by MorningStar as one of the best CEOs in 2008 calendar year.
While CEO of BB&T (Branch Banking & Trust) in 2008, John A. Allison IV earned a total compensation of $4,690,974, which included a base salary of $993,675, a cash bonus of $1,504,303, stocks granted of $995,089, and options granted of $973,800.
Allison retired at the end of 2008 as CEO of BB&T, handing over day to day control of operations to former COO, Kelly King, who assumed CEO role on January 1, 2009.
Charlotte, North Carolina
Charlotte is the largest city in the U.S. state of North Carolina and the seat of Mecklenburg County. In 2010, Charlotte's population according to the US Census Bureau was 731,424, making it the 17th largest city in the United States based on population. The Charlotte metropolitan area had a 2009...
, North Carolina
North Carolina
North Carolina is a state located in the southeastern United States. The state borders South Carolina and Georgia to the south, Tennessee to the west and Virginia to the north. North Carolina contains 100 counties. Its capital is Raleigh, and its largest city is Charlotte...
. He began his career with BB&T
BB&T
BB&T Corporation is an American bank with assets of $157 billion , offering full-service commercial and retail banking services along with other financial services like insurance, investments, retail brokerage, mortgage, corporate finance, consumer finance, payment services, international...
in 1971 following his graduation from the University of North Carolina
University of North Carolina at Chapel Hill
The University of North Carolina at Chapel Hill is a public research university located in Chapel Hill, North Carolina, United States...
with a degree in business administration. He also earned an MBA from the Fuqua School of Business
Fuqua School of Business
The Fuqua School of Business is the business school of Duke University in Durham, North Carolina, United States. It currently enrolls 1,340 students in degree-seeking programs...
at Duke University
Duke University
Duke University is a private research university located in Durham, North Carolina, United States. Founded by Methodists and Quakers in the present day town of Trinity in 1838, the school moved to Durham in 1892. In 1924, tobacco industrialist James B...
in 1974, and since has received an honorary doctorate from East Carolina University
East Carolina University
East Carolina University is a public, coeducational, engaged doctoral/research university located in Greenville, North Carolina, United States. Named East Carolina University by statute and commonly known as ECU or East Carolina, the university is the largest institution of higher learning in...
and an honorary doctorate from Universidad Francisco Marroquín
Universidad Francisco Marroquín
Universidad Francisco Marroquín is a private, secular, university in Guatemala City, Guatemala. According to the school's website, "the mission of Universidad Francisco Marroquín is to teach and disseminate the ethical, legal and economic principles of a sociey of free and responsible persons."...
. He serves on the Board of Visitors of the Fuqua School of Business
Fuqua School of Business
The Fuqua School of Business is the business school of Duke University in Durham, North Carolina, United States. It currently enrolls 1,340 students in degree-seeking programs...
. He has a wife, Betty, and three children.
He is a major contributor to the Ayn Rand Institute
Ayn Rand Institute
The Ayn Rand Institute: The Center for the Advancement of Objectivism is a 501 nonprofit think tank in Irvine, California that promotes Ayn Rand's philosophy, called Objectivism. It was established in 1985, three years after Rand's death, by Leonard Peikoff, Rand's legal heir...
and assigns Rand's Atlas Shrugged
Atlas Shrugged
Atlas Shrugged is a novel by Ayn Rand, first published in 1957 in the United States. Rand's fourth and last novel, it was also her longest, and the one she considered to be her magnum opus in the realm of fiction writing...
to all of his senior executives. Calling Atlas Shrugged "the best defense of capitalism ever written," Allison has seen to it that "the BB&T Charitable Foundation has given 25 colleges and universities several million dollars to start programs devoted to the study of Rand's books and economic philosophy."
In 2008, Allison was nominated by MorningStar as one of the best CEOs in 2008 calendar year.
While CEO of BB&T (Branch Banking & Trust) in 2008, John A. Allison IV earned a total compensation of $4,690,974, which included a base salary of $993,675, a cash bonus of $1,504,303, stocks granted of $995,089, and options granted of $973,800.
Allison retired at the end of 2008 as CEO of BB&T, handing over day to day control of operations to former COO, Kelly King, who assumed CEO role on January 1, 2009.