Thirty-five countries were represented among the 353 students who graduated from Thunderbird this spring, including candidates from the full-time MBA program; the Executive MBA program in Glendale, Arizona and Asia; and the Certificate of Advanced Studies program.

The ceremony, which included graduates from four different MBA programs at Thunderbird, featured a well-received keynote address from John S. Donnelly, a 1970 graduate of the School who is chairman of the board of Bank of America México.

Donnelly, who had a son and nephew among the graduating students, said that he had uncovered five keys to success in his more than 35 years in business: integrity, character, teamwork, diversity and laughter.

"Character—or to put another way, integrity—is perhaps the most important pillar of life," Donnelly said. "Live your values."

He challenged the graduates to be true to their values, even when less ethical people seem to be getting ahead. Donnelly summed up his philosophy of life in one curt and not so politically correct phrase: "Life's a bitch. But when things go wrong, stand up, fight, and understand the 'whys' of why things went wrong."

When Donnelly's son Eduardo Donnelly walked across the dais to accept his diploma, it was Donnelly himself who presented him with it.

There were other family connections during the ceremony. A number of MBA graduates accepted their diploma with young children in their hands, and husband and wife graduates, Peter and Martha Sheehy, walked hand-in-hand when they accept their degrees.

"In some ways, walking across the graduation stage together was really indicative of our walk at Thunderbird together," Martha said. "We started during different terms and on different campuses, but we have always had the same goal-to support each other in our pursuit of global careers."

Graduate Weiming "Roy" Zhang of China explained how it felt to finally receive his MBA after so many months of hard work. "When I stepped down the stairs from the stage in the graduation ceremony, a lady greeted me 'Welcome to the Thunderbird Alumni Association,'" Zhang said. "Suddenly I realized I was just stepping out of a door and into another."

The graduates were joined by family and friends later that night at a graduation party held at the sprawling Wrigley Mansion, located near the historic Biltmore Resort and Spa in Phoenix. More than 500 people attended the lavish party, enjoying international themed food and entertainment.