Otto B. Martinson, Ph.D., CMA, CFM, CPA, a longtime and esteemed IMA? (Institute of Management Accountants) member, passed away on September 1, 2021, in Colorado Springs, Colo., at age 89. Martinson was a professor emeritus of accountancy at Old Dominion University, where he served on the faculty from 1989 until he retired in 2008. Prior to joining ODU, he enjoyed two successful careers: first serving his country in the United States Air Force and a second one as the vice president of strategy for Carlson Industries, running the company?s successful businesses in the hotel and restaurant industries.
With an ability to bring his life experiences into the classes he taught, Martinson started and taught a management accounting track within ODU?s MS in Accounting and MBA degree programs. He was also the co-founder of the university?s Managerial Accounting and Auditing Club, a unique umbrella organization of several student chapters of professional accounting organizations, including IMA as well as the Institute of Internal Auditors and the Association of Government Accountants.
Martinson joined IMA in 1989 as an Academic member and through the years, was very involved in the association. He served as a member of the IMA Global Board of Directors and as a member of the ICMA Board of Regents from 2001 to 2008. He was also a member of IMA?s Hampton Roads Chapter, giving service as president and board member. Martinson completed a research project for the IMA Research Foundation, titled Cost-Accounting in the Service Industry: A Critical Assessment, in which he argued that service companies should be allowed to have work in process accounts for their service contracts.
In 2002, IMA recognized Martinson?s contributions to management accounting teaching and IMA by awarding him the R. Lee Brummet Award, its highest academic honor.
Recalling his friendship with Martinson, former IMA Global Board Chair Bud Kulesza, CMA, CFM, commented, ?Otto?s service to IMA in so many capacities is without peer?from chapter to council to global engagement, especially his eight years of service on the Board of Regents. I?m especially proud to have been the one to present him with the Brummet Award at the 2002 Annual Conference, a well-deserved recognition. What I will remember most about Otto, however, is his infectious enthusiasm in support of IMA and the CMA, especially when he was engaging with new members of the profession. His legacy will live on in the many professionals he brought into the association and the CMA program. He will be missed!?