Richard N. Foster, Managing Partner, Millbrook Management Group LLC – Foster is a former Director and Senior Partner with McKinsey & Company where he was responsible for serving clients in the U.S., Europe and Asia focusing on industry sectors including chemicals, electronics, healthcare, retail and consumer goods industries.

Early life and education

Foster received his B.S., M.S. and PhD in Engineering and Applied Science from

Yale University Yale University is a Private university, private Ivy League research university in New Haven, Connecticut, United States. Founded in 1701, Yale is the List of Colonial Colleges, third-oldest institution of higher education in the United Stat ...

Career

During his 31-year tenure with

McKinsey & Company McKinsey & Company (informally McKinsey or McK) is an American multinational strategy and management consulting firm that offers professional services to corporations, governments, and other organizations. Founded in 1926 by James O. McKinse ...

and beginning in 1973, Foster was elected principal (1977) and later Senior Partner and Director (1982), a position he maintained for 22 years. Before leaving McKinsey & Company, Foster served as founder and Managing Director of McKinsey's private equity practice. He also founded and led McKinsey's technology and healthcare sectors. In addition, Foster led the multi-decade consulting activities with one of McKinsey's largest clients, a healthcare company. While at McKinsey & Company, Mr. Foster led a fifteen-year effort to construct and analyze a database to analyze the financial and capital markets records of over 4000 U.S. companies. This effort resulted in Mr. Foster's two best selling books, “Innovation: The Attacker’s Advantage” (1986) and “

Creative Destruction Creative destruction (German: ''schöpferische Zerstörung'') is a concept in economics that describes a process in which new innovations replace and make obsolete older innovations. The concept is usually identified with the economist Josep ...

” (2000), which focuses on the relationship between capital formation, innovation and corporate leadership. In 1985, Foster co-authored two articles which appeared in the journal ''

Research Management Research is creative and systematic work undertaken to increase the stock of knowledge. It involves the collection, organization, and analysis of evidence to increase understanding of a topic, characterized by a particular attentiveness to ...

'' of the

Industrial Research Institute Innovation Research Interchange (IRI) is a division of the National Association of Manufacturers, a Nonprofit organization, nonprofit association based in Washington, D. C., United States. IRI was founded as a private non-profit association in 1938 ...

(IRI) titled "Improving the Return on R&D --- I" and "--- II" which received recognition in 1986 by IRI with the presentation of the

Maurice Holland Award ''Research-Technology Management'' (''RTM'') is an academic journal published by Taylor & Francis on behalf of the Industrial Research Institute (now called Innovation Research Interchange - IRI). It publishes peer-reviewed, research-based articles ...

to its authors. Foster served as a member of the Board of the

Santa Fe Institute The Santa Fe Institute (SFI) is an independent, nonprofit theoretical research institute located in Santa Fe, New Mexico, United States and dedicated to the multidisciplinary study of the fundamental principles of complex adaptive systems, inc ...

from 1994-2004, where he was the primary sponsor of the economics program focusing on finance and trading strategies. Foster is a director of

Trust Company of the West TCW Group is an American asset management firm based in Los Angeles, California. , TCW had $195 billion of assets under management or committed to management. The President and CEO of The TCW Group is Katie Koch. History Founded by Robert Add ...

athenahealth Athenahealth, Inc. is a privately held American company that provides network-enabled services for healthcare and point-of-care mobile apps in the United States. The company was founded in 1997 in San Diego and is now headquartered in Boston, ...

, the Council for Aid to Education where he is chairman of the strategy committee, Cardax Pharmaceuticals, the Memorial Sloan Kettering Institute where he is chairman of the operations and policy committee, the W.M. Keck Foundation,

Innosight Innosight is a strategy consultancy within Huron Consulting Group, advising global enterprises on business strategy, innovation, and growth transformation. Innosight was founded in 2000 by Harvard Business School professor Clayton M. Christensen ...

and the

Council on Foreign Relations The Council on Foreign Relations (CFR) is an American think tank focused on Foreign policy of the United States, U.S. foreign policy and international relations. Founded in 1921, it is an independent and nonpartisan 501(c)(3) nonprofit organi ...

. In April 2011, Mr. Foster joined

Lux Capital Lux Capital is a venture capital firm based in New York City. It was founded in 2000, and focuses on investments in emerging technologies. History Lux Capital was founded in 2000 by Peter Hébert, Robert Paull and Josh Wolfe. In April 2011, for ...

as a venture partner, providing expertise in life sciences and healthcare IT investment.

Personal life

Richard N. Foster lives in

New York New York most commonly refers to: * New York (state), a state in the northeastern United States * New York City, the most populous city in the United States, located in the state of New York New York may also refer to: Places United Kingdom * ...

, NY.

Bibliography

* Richard N. Foster and Sarah Kaplan
"Creative Destruction: Why Companies that are Built to Last Underperform the Market - And how to Successfully Transform Them"
Currency publisher. 2000. * Richard N. Foste
"Innovation: The Attacker's Advantage"
Summit Books. 1986.

References

{{DEFAULTSORT:Foster, Richard N. American business writers American businesspeople Corporate executives Living people McKinsey & Company people Yale School of Engineering & Applied Science alumni Santa Fe Institute people 1941 births