James Edward Foulds,
B.S.B.A. in accounting, ’77

Entrepreneur of the Year Award

James Edward Foulds had every intention of becoming a dentist until he took an aptitude test that told him with 99 percent certainty he should go into business. As it turns out, the numbers weren’t wrong.

Foulds came to Central Michigan University in 1974. At CMU, he learned about hard work, honesty, loyalty, and how to think “outside the box.”

“I learned from good professors, and in my career, I have always applied the basics I learned in my accounting and marketing classes,” Foulds said.

After graduation, Foulds joined Foulds & Zeros CPAs as a staff accountant, later becoming a partner. In 1982, he became an owner of a Little Caesars Pizza franchise in Florida, which he helped build into a 32-store chain. After selling his interest in 1996 he acquired Johnson Carbide Products Inc., where he currently is president and CEO. The company boasts a $10 billion-a-year global market for its new “high tech” TruLine Tool® family of composite tooling. It plans to be doing more than $100 million a year in sales in the next few years.

“The world is an ever-changing place, and man hates change – but I don’t. You can’t reach your goals in life without taking some long shots along the way. For me success is a journey, not a destination,” Foulds said. “There are so many opportunities out there, but you have to be patient. You wait for the right moment and you seize them.”

Foulds has remained connected to CMU in many ways. He is a board member of the Entrepreneurial Investment Forum, he is a frequent lecturer for Dialogue Days, and he still attends as many football games as he can.

“The rewards of my career have been to change people’s lives in positive ways, growing companies and employing good people, and giving back to society,” Foulds said.

Foulds lives in Midland, Michigan, with his wife, Katie. They have two sons, Aaron and Jason.