Wednesday: Loyola honors Frank Stewart Jr. for ethical entrepreneurship
Loyola press release - March 31, 2014
Frank B. Stewart Jr., former chairman of the board for Stewart Enterprises, Inc., will be recognized this week by Loyola University New Orleans’ Center for Spiritual Capital for his ethics in business and dedication and service to his faith. Stewart will be the second recipient of the Alden “Doc” Laborde Award for Ethical Entrepreneurship and will be honored during a dinner reception April 2 at the Audubon Tea Room.
The award states in part, “For some time now, the forgotten hero of U.S. business has been the entrepreneur. Every place of business, from the humblest storefront to the gleaming corporate campus, is testament to the existence of an entrepreneur’s vision. The motivation for entrepreneurship is not wealth but the desire to respond to human need and cultural challenges. We at Loyola believe that successful entrepreneurs sustain their organizations by creating workplaces based on values and ethics as a way of doing business.”
Kevin Pollard, Center for Spiritual Capital advisory committee member and president of GlobalSolve Management Services added, “Frank Stewart’s personal, professional, family, and community contributions have been guided by his own strong foundation of ethics and moral values. This award from the center recognizes and celebrates those necessary values in Frank and, at the same time, all other entrepreneurs who are guided by the same principles.”
Stewart has been a leader in the death care industry throughout his career and was honored in 2010 with a lifetime achievement award by the International Cemetery Cremation and Funeral Association. His family founded the business in 1910, and Stewart joined the company in 1959, becoming president and CEO in 1966. He was appointed the board chairman in 1984, overseeing Stewart Enterprises’ initial public offering in 1991 and an expansion that has resulted in its current position as the second-largest provider of products and services in the death care industry in the U.S. today. In 2003, after more than 44 years in the business, Stewart retired from all management positions with the company. He was appointed chairman of the board again in April 2007, a position he held until the sale of the company in December 2013. Stewart is currently the chairman of the board and sole owner of Stewart Capital, LLC, one of the largest private investment holding companies in the Gulf South.
In addition to his business activities, Stewart has a strong commitment to community service, demonstrated by his support of numerous charitable, religious and civic organizations such as the Boy Scouts of America, the National World War II Museum and the Business Council of New Orleans. He has served on many nonprofit boards, including currently the Better Business Bureau, Crimestoppers, World Trade Center, and Navy League, and formerly served for many years on the Tulane University Board of Administrators and the Ochsner Medical Foundation Board, as well as the Boards of the Rotary Club of New Orleans and the Salvation Army.
The Center for Spiritual Capital at Loyola University New Orleans is a research, education, and outreach organization that works with scholars, policy experts, and business leaders to connect academic learning and real-world practice. The mission of the center is to promote sound interdisciplinary research to produce innovative ideas that advance in a sustainable way a free, prosperous, and responsible civil society.