William P. Carmichael


Bicentennial Medal (2019)
Kelley School of Business Academy of Alumni Fellows (2007)
Indiana University Bloomington
Kelley School of Business
B.S., 1965
Distinguished Alumni Service Award (2000)
B.S., 1965


Bill Carmichael co-founded The Succession Fund in 1998 to provide an exit strategy to the owners of privately held companies. Mr. Carmichael provides consulting advice to the owners or may arrange for an investment group to buy out the owners in a tax-advantaged transaction. He has also served as an expert witness in trials on financial matters and on mergers and acquisitions.

Prior to forming The Succession fund, Mr. Carmichael worked for Price Waterhouse for four years and had twenty-six years of experience in various financial positions with global consumer product companies. Positions he held include Senior Vice President of Sara Lee Corporation, Senior Vice President and Chief Financial Officer of Beatrice Foods Company, and Vice President of Esmark, Inc. His experience includes all financial functions, strategic planning, and substantial merger and acquisition work.

Mr. Carmichael is a Director of Simmons Company, Cobra Electronics Corporation (NASDAQ), The Finish Line (NASDAQ), Spectrum Brands (NYSE), and Chairman of the Columbia Funds (Bank of America advised mutual funds). Previous boards include Avis, Playtex, Electrolux, Health-o-meter/Mr.Coffee, Opta Food Ingredients, the Golden Rule Insurance Company, Kubin-Nicholson Corporation, and the Hain Food Group.

The charitable activities of Mr. Carmichael include serving on the Mergers and Acquisition Committee of the Chicago Minority Business Development Council, the Board of Directors of The Infant Welfare Society of Chicago; the Business Advisory Council of the University of Virginia Law School; the Advisory Board of the Indiana University Art Museum; the Dean's Advisory Council of the Indiana University Kelley School of Business; and the Board of Directors of the Indiana University Foundation, where he is Treasurer and is Chairman of the Investment Committee. He is also an adjunct professor of finance for the Kelley School of Business.

Bill graduated with a B.S. degree in accounting from Indiana University in 1965 and a J.D. degree from the University of Virginia Law School in 1968. He is a Certified Public Accountant, is licensed to practice law in Illinois, and qualifies as a financial expert for Sarbanes-Oxley.