Statement of President Shirley Ann Jackson on the Passing of Kenneth T. Lally

It is with great sadness that I announce the passing November 7 of Kenneth T. Lally, member of the Rensselaer Board of Trustees and longtime friend of the Institute.

Mr. Lally and his late wife, Thelma, have been magnificent benefactors to Rensselaer, and to the entire Capital Region. Their generosity has left an indelible mark through the Kenneth T. and Thelma P. Lally School of Management and Technology, named in their honor in 1995. Students for generations will benefit from their foresight and commitment to ensuring that there is a prominent school of management at Rensselaer, bringing together students from around the globe.

Mr. Lally was a beloved member of the Rensselaer community for almost 40 years. As a leader, an entrepreneur, a trusted adviser, and a friend, he has had a truly lasting impact on Rensselaer, and on our capacity to bring about the transformation we have achieved in recent times. 

In 1995, Mr. and Mrs. Lally made a signature gift to Rensselaer’s School of Management. To honor their generosity, the School was renamed the Kenneth T. and Thelma P. Lally School of Management and Technology.

The stated goal of Ken and Thelma Lally with their gift to the Lally School was to help the Institute achieve national prominence — a goal which has clearly been achieved in recent years. The Lally School was recently listed among The Princeton Review’s “Best 296 Business Schools,” and it was ranked 26th in the nation among BusinessWeek magazine’s 2008 list of top 50 undergraduate business programs. BusinessWeek also ranked the Lally School first in the nation in the area of corporate strategy. 

Mr. Lally served as secretary of the Board of Trustees, and has served on many board committees. He also founded and chaired the trustee Committee on Community Relations. Mr. Lally was a member of The Stephen Van Rensselaer Society of Patroons, and was a recipient of the Albert Fox Demers Medal of the Rensselaer Alumni Association, the 1989 Distinguished Service Award, and an honorary doctor of engineering degree.

Mr. Lally was a former President and Director of Samaritan Hospital, a member of the Board of Trustees at the College of Saint Rose, and a trustee or director of numerous other medical, financial, civic, charitable, and educational institutions, including Troy Savings Bank, Ellis Hospital, and Proctors Theater. He was one of the founders of the Capital Region Technology Development Council, and a member of the Business Council of New York State. In 1994 Mr. and Mrs. Lally received the Philanthropists of the Year award for their support of charities in the Capital Region from the National Society of Fundraising Executives,

Mr. Lally personally saved the historic W. & L. E. Gurley (now Gurley Precision Instrument Co.) from an uncertain future when he purchased the firm and took control of its operations. Following his retirement from the former Teledyne Inc., he continued his entrepreneurial pursuits as a private investor. He began his manufacturing engineering career with the General Electric Company. His early professional accomplishments include serving as president and director of various privately owned industrial companies, and director of many other firms, including several start-up entities. 

A funeral will be held Tuesday, November 11 at 11:00 a.m. in St. John the Evangelist Church, 816 Union St. in Schenectady. Visiting hours are scheduled for Monday, November 10, from 5:00 to 7:00 p.m. at the Jones Funeral Home, at 1503 Union St. in Schenectady.

Mr. Lally was a true and generous humanitarian. He will be greatly missed by the Rensselaer community.