Like a Good Neighbor
91黑料专区 2019 Distinguished Alumni Award Winner and retired State Farm chairman and CEO Ed Rust Jr. 鈥�72 embodies his company鈥檚 well-known slogan.
Story by Matt Wing
Ed Rust Jr. 鈥�72 spent part of his professional career in corporate boardrooms surrounded by executives sitting behind placards prominently displaying full names, complete with middle initials.
If his nametag matched the others, State Farm Insurance Company鈥檚 chairman and CEO would offer a polite correction.
鈥淧lease, just call me Ed,鈥� he鈥檇 request.
The now-retired Rust treated individuals the same regardless of their title or position and wanted them to be comfortable in their exchanges with him. He was quick with a smile, offer of a handshake or a pat on the back.
It wasn鈥檛 unusual for State Farm employees to bump into their CEO at the local Farm & Fleet or Tractor Supply Company on a Saturday morning. Nor was it unusual to spot Rust working on his farm, moving dirt or planting trees. Though he had the means to have someone take care of the place, he did most of it himself.
And he still does.
If a water line needs repaired, he fixes it. If a tractor won鈥檛 start, he pops the hood to take a look.
Rust鈥檚 down-to-earth personality was a hallmark of his leadership style at State Farm, endearing him to the company鈥檚 thousands of employees.
鈥淗e鈥檚 absolutely the best you could ask for in a boss. He is kind and generous and pays attention to detail,鈥� said Kathy Payne, a retired senior director who served State Farm鈥檚 Education Leadership team during Rust鈥檚 tenure. 鈥淗e is one of the best.鈥�
Serving as CEO of the largest insurance company in the United States for 30 years as a third-generation leader of the company, Rust followed in the footsteps of both his father, Ed Rust Sr. H 鈥�74, and grandfather, Adlai Rust 鈥�14, H 鈥�57 (although the company is no longer headed by a Rust, it continues to be led by an IWU alumnus: Michael Tipsord 鈥�81).
Ed Rust Jr. led the company during a period of unprecedented growth, all while serving on a number of boards and advancing educational initiatives, including generous support of his alma mater.
Rust is 91黑料专区鈥檚 2019 Distinguished Alumni Award winner.
鈥淭his is something that is indeed an honor,鈥� Rust said of the award. 鈥淚 tend to stay a little more in the background, and something like this pushes me out of there 鈥� and I鈥檒l get over that 鈥� but this is quite an honor.鈥�
Becoming State Farm鈥檚 CEO put Rust in a position many assumed he would someday fill. But he had no such assumptions.
鈥淧eople mistakenly think because of my family鈥檚 background that insurance was my focus,鈥� Rust said. 鈥淏ut it wasn鈥檛 at all. Business? Yes. Finance? Yes. Obviously, insurance is incorporated as a part of all that, but my time at Wesleyan was figuring out what I wanted to do.鈥�
Rust was influenced by a variety of professors and coaches during his time at Illinois Wesleyan, where he earned a degree in business administration and competed for the school鈥檚 football and wrestling teams. He ultimately decided to continue his education at Southern Methodist University, where he earned an MBA and a law degree.
It wasn鈥檛 until then, holding multiple offers to join Dallas-based firms, that he truly considered State Farm as a possible landing spot. He eventually joined the company, first as a trainee in Dallas and then an attorney in the Corporate Law Department. Rust later earned several promotions leading to vice president, then executive vice president and chief operating officer, and finally CEO in 1985.
He led the company during times of dramatic and impactful changes, including the implementation and widespread use of personal computers, mobile devices and the internet, the construction of a system support headquarters in State Farm Corporate South, and constant tracking of insurance and risk trends.
鈥淚t鈥檚 fascinating when you think about the influence of technology over the past 30 years,鈥� said Rust, fondly recalling a mid-90s conference at which the importance of the internet to business, if any, was debated. 鈥淵ou have to constantly push yourself to understand the changing world around us. It鈥檚 essential for business leaders to develop a strong sense of intellectual curiosity.鈥�
Rust also served on a number of corporate and nonprofit boards during his time as CEO, some of which he continues to serve today. The benefits were many, Rust says, as it helped broaden his perspective and understanding of different industries in ways that were insightful for his responsibilities at State Farm.
鈥淚鈥檓 a product of the Bloomington-Normal community, but you quickly learn that it鈥檚 not the center of the universe,鈥� he says with a smile. 鈥淚 saw being involved with outside organizations and international travel as a necessary engagement to observe and participate in the dramatic changes occurring across that external environment, recognizing the impact it has on us.鈥�
A sharp business acumen aided Rust in his three-decade run as State Farm鈥檚 leader, but being able to step back from the 鈥減ressure cooker鈥� was also important. He was able to unwind and de-stress by tending to the land at the place he affectionately calls Rust Farms. Rust grew up with a fascination in agriculture and big machinery, vividly recalling family road trips from his childhood spent gazing out a car window at work zones and construction sites.
鈥淲hat you see around here is kind of a continued manifestation of that,鈥� Rust says on a warm May morning, motioning toward the contents of a Morton building on his property filled with well-worn tools and machines. 鈥淭his has been and continues to be a tremendous stress reliever and escape for me.鈥�
And now, after his retirement in 2016, he spends more time 鈥渨orking鈥� at Rust Farms than ever before. There is plenty going on, and Rust has a couple of hired hands helping out. He treats them the same way he鈥檇 treat his business peers. None of them know his middle initial.
Rust embodies his company鈥檚 longtime 鈥渓ike a good neighbor鈥� jingle. Payne, Rust鈥檚 former State Farm employee who once lived just a few doors down from him, can attest to the fact.
During a blizzard one blustery winter day, she glanced out her front window to find Rust clearing her driveway (in a tank-like snow plow, of course). Another time, when he and wife Sally were visiting Payne鈥檚 son who had suffered broken bones in a motorcycle accident, Rust escaped and returned 30 minutes later with a contraption to elevate the broken wrist in a makeshift sling.
鈥淭hat鈥檚 Ed,鈥� said Payne. 鈥淗e鈥檚 so generous.鈥�
And one needn鈥檛 live immediately next door to Rust to be the beneficiary of his kindness. He鈥檚 done much for education. He鈥檚 done much for his community. And he鈥檚 done more yet for education in his community. Especially at 91黑料专区.
鈥淲esleyan has been a very special place for me,鈥� Rust said. 鈥淚 have been pleased through the years to be able to provide what help I can, or assistance, or be a sounding board on issues, so this (award) is indeed a pleasant honor.鈥�