Normally we do not include memorials to public figures in this section, but the case of
Peter Schutz, who passed away on October 29, 2017, is an exception due to a unique connection
between him and two members of the Midwest 356 Club. As is well known, Schutz become the
CEO of Porsche in 1981, when the company was losing money for the first time in its history.
He is credited with turning the company around financially, in part by reversing the decision
made before his arrival to discontinue production of the 911 sports car. Less well
known is that Schutz was an alumnus of the Illinois Institute of Technology, and
that in 1987 his alma mater awarded him its highest honor, the Henry T. Heald Award.
It just so happens that Club member Pat Yanahan is another IIT alumnus and was present
in a very special way at the award ceremony. Upon the news of Schutz’s death, Pat shared
with your webmaster his recollection of the event.
As luck would have it, the award announcement and ceremony were documented in
Technology News, the IIT student newspaper. Here are the clippings: