Mr. Smith began a life-long business career with Illinois Tool Works following his education at Princeton (BSE 1955) and Northwestern (MBA 1957) Universities. ITW founded in 1912 and now a global diversified manufacturer with businesses in 57 countries was the second enterprise founded by his great-grandfather Byron L. Smith who earlier had established the Northern Trust Company. Mr. Smith retired from ITW as Chairman of the Executive Committee in 2010 and continues as an Emeritus Director. He also served as a director of Northern Trust Corporation, Northwestern Mutual Life Insurance Company and W.W. Grainger Inc. Active in civic organizations in Chicago he is currently a Life Trustee of Rush University Medical Center, having served as Chairman 1978-1988, the Adler Planetarium, the Newberry Library and Northwestern University. He was a member of the Republican National Committee 1976-1999 and served as chairman of the Illinois Republican Party 1993-99.