During his 18 years as professor of management, Larry Edward Penley held the Bob Herberger Arizona Heritage Chair, served as the fifth dean of the college of business, and served as the first dean of the W. P. Carey School of Business after having secured the donation that led to its naming. As dean, Penley saw the school become an internationally recognized business school with highly ranked graduate and undergraduate programs. Penley led the business school's explansion of its MBA programs to China and Mexico and oversaw the substantial growth of its undergraduate business honors program. While dean, Penley chaired AACSB during its period of international expansion. Upon retiring from ASU as Professor Emeritus, he served as president of Colorado State University and chancellor of the CSU System. Penley remains an active management consultant with a focus on strategic positioning of firms in the healthcare, energy and education sectors. He is a Regent with the Arizona Board of Regents.