Hall of Distinguished Alumni
Joseph W. Craft III
Joseph W. Craft III is president, chief executive officer and director of Alliance Resource Partners LP (Nasdaq: ARLP), a diversified producer of coal. The company was recognized by Business Week magazine as the 14th hottest growth company in the United States in 2007 and made the annual list of 100 Hottest Growth Companies for the fifth consecutive year. In a November 2009 ranking by Standard & Poors, measuring the total return to shareholders over the last ten years, ARLP ranked 39th out of 10,000 companies, having delivered compounded annual returns of 29% to its unitholders during this period.
An entrepreneur, attorney and energy industry leader, Craft moved from his native Kentucky to Oklahoma in 1980 when he joined MAPCO Inc. He became president of MAPCO’s coal segment, a position he held for10 years before leading a management buyout of the company’s coal operation and forming ARLP. The organization, based in Tulsa with offices now in Kentucky, was the coal industry’s first publicly traded master limited partnership. It is the fifth largest coal producer in the eastern United States.
Craft has served in various industry leadership positions and is currently a member of the University of Tulsa Board of Trustees, a director for Bank of Oklahoma and the Tulsa Community Foundation. He was inducted into the city of Tulsa Hall of Fame in 2007. In June 2008, Ernst & Young recognized Craft as Entrepreneur of the Year for the Southwest Region in the energy, chemical and mining category. He also was inducted into the University of Tulsa Business Hall of Fame as an outstanding business leader in 2009.
In addition to his academic degrees from UK, Craft also is a graduate of the Senior Executive Program of the Alfred P. Sloan School of Management at the Massachusetts Institute of Technology. Mr. Craft will be inducted into the Gatton College of Business and Economics Alumni Hall of Fame the morning of April 16, 2010.
He is active in his community and his family supports social services and education in Tulsa, as well as Kentucky, including providing funds for the Joe Craft Center at UK.
Craft and his wife, Kathy, have four children and five grandchildren.