Feb. 17, 2009 by Justin Bannister NMSU News Center
New Mexico State University and the Yates family of Artesia have long partnered on various projects to advance education in New Mexico. Now, as a continuation of that partnership, the NMSU College of Business has named Peyton Yates as its first “Executive in Residence,” a position for those who are successful in the business world to help and mentor NMSU business students.
“We are delighted to welcome Peyton Yates as executive in residence and to gain the support of a professional with his experience,” said NMSU Interim President Waded Cruzado. “This program allows New Mexico State to strengthen our relationship with our community. We are fortunate to have friends of the professional caliber of Peyton Yates who want to support us in meaningful ways and get involved with NMSU.”
Yates is a former president of Yates Petroleum Corporation, an Artesia-based energy firm and the largest independent oil and gas company in New Mexico. He currently serves on the company’s board of directors. He is also president of Yates Drilling Company, an oil and gas operator in Artesia.
In addition to the Executive in Residence program, the Yates family has played a vital role in NMSU’s Dennis Darnall faculty achievement award, the Gerald Thomas Society, the President’s Associates Scholarship and Endowment Fund and various NMSU athletic programs.
In 2001, John A. Yates Sr. received an honorary doctorate from NMSU. John and Charlotte Yates established a student teaching endowment at the university. John Yates Jr. and his wife, Nancy, are both graduates of NMSU and indirectly sponsor local students to attend NMSU. Frank and Mary Yates established an endowed scholarship in the NMSU School of Hotel, Restaurant and Tourism Management. In 2008, the Yates family donated $500,000 to NMSU’s Domenici Institute.
“Our family’s relationship with NMSU is incredibly strong,” Peyton Yates said. “We’ve had a number of family members attend NMSU. More importantly, we’ve had tremendous success with a lot of NMSU graduates. They’ve risen to some of the highest ranks of our company. We believe we get quality graduates from NMSU.”
More than 25 Yates Petroleum employees are NMSU graduates, and many of those graduates now have children attending NMSU.
“We are proud to work with an entrepreneur as accomplished as Peyton Yates in the College of Business. His wealth of knowledge in business and energy, paired with years of personal, real-world experiences make him the ideal person to help teach our future business leaders,” said Garrey Carruthers, NMSU’s business dean and vice president for economic development.
Yates will begin his duties as executive in residence during the current spring semester. In addition to mentoring and helping students with business projects, Yates will lend his expertise to NMSU’s Domenici Institute and other programs where his knowledge of business and energy is valuable. Yates also plans to ask his friends in the business and energy fields for their assistance in working with students and solving problems.
Yates earned a bachelor’s degree in petroleum engineering in 1965 and his master’s degree in 1966 from the University of Texas at Austin.