TRIBUTE by Monica S. Smiley Dr. Marsha Firestone, PhD May 13, 1943 – December 7, 2025 ‘Her legacy lives on in the thousands of women whose lives and businesses were shaped by her vision.’ The women’s business community lost a treasured leader in December with the passing of Dr. Marsha Firestone, the founding president of the Women Presidents Organization. Family, friends and many members of the national women’s business community came together to honor and celebrate Marsha’s life at a service in New York on March 22. Born in Mobile, AL, Marsha grew up in a family of entrepreneurs. Her parents built a local chain of retail eyeglass stores. She earned her undergraduate degree from Newcomb College of Tulane University and later earned a master’s degree and Ph.D. from Columbia University. In the Fall 2020 issue of Enterprising Women, the year that Marsha retired from her role leading the WPO, Susan Johnson wrote a tribute piece to honor her legacy. She wrote: “The story of Marsha Firestone had a modest beginning. When she was VP of Training at the American Women’s Economic Development Corporation, she noted that business education programs were focused on startup entrepreneurs, but little was available for second stage entrepreneurs. “Marsha believed these accomplished business owners deserved a supportive resource that could provide the knowledge and skills for them to excel. Having identified an important marketplace need, the WPO was born. “Marsha first shared her vision for WPO with colleague and friend, Mary Lehman MacLachlan. When Mary asked how she would fund such an enterprise, she wrote a check to provide Marsha with the seed capital. WPO acknowledges that act of generosity each year by awarding an economic empowerment award in Mary’s name. WPO CEO Camille Burns, who started with the organization more than 26 years ago was quoted as saying, “When Marsha started the organization in 1997, there was barely a conversation about women business owners. Marsha was one of the first women who really made it a point to bring women together to prove that women were making a real contribution to the economy.” Over 19 years ago, Marsha knew that women business owners were still not getting the attention they deserved from the business marketplace or from the media. So, in 2007, WPO under her direction launched the listing of the 50 Fastest Growing Women-Owned/Led Companies to focus attention on the vital role these companies have in boosting the economy and enlarging overall job growth. She also recognized that entrepreneurs running larger businesses had different needs and launched the Platinum group for members with $10 million or more in annual revenues and later launched the Zenith group for members with more than $50 million in gross revenues. I first met Marsha the year my team launched Enterprising Women. We profiled Marsha in the first issue in May 2000 and she became one of our strongest supporters, nominating women each year for the Enterprising Women Advisory Board, and partnering to support the Enterprising Women of the Year Awards. She was instrumental in the startup of our Advisory Board and helped craft the framework and design of the board that still guides the board’s mission today. She became a trusted mentor and friend to me over many years. So many women were touched by Marsha’s mentorship and advice. She could be tough and no-nonsense, but her passion for supporting the growth of WPO members never wavered. It is not an exaggeration to say that the women’s business community would not be where we are today without the dedication, leadership and support of Dr. Marsha Firestone. Marsha was predeceased by her husband of 54 years, Monroe Firestone. She is survived by her son Daren Firestone, daughter-in-law Nicole Handrahan, and grandchildren Sasha and Aiden Hanrahan Firestone. Her legacy is profoundly important. Her kindness and generosity of spirit will live in our hearts forever. MONICA S. SMILEY is editor and publisher of Enterprising Women. So many women were touched by Marsha’s mentorship and advice. She could be tough and no-nonsense, but her passion for supporting the growth of WPO members never wavered. 114 enterprising Women
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