A press release from Caltech about Steve Koonin, who was the boss of my bosses during a SURF project and was a student of my undergraduate advisor at Caltech (and also responsible for severe drops in GPAs for many of the physicist students I knew at Caltech :)):
Steven Koonin, visiting associate in physics and former provost of Caltech, has been nominated by President Obama to serve as Undersecretary for Science in the U.S. Department of Energy. The position requires Senate confirmation. Koonin is currently chief scientist for BP, where he is responsible for guiding the company’s long-range technology strategy, particularly in alternative and renewable energy sources. He has served on numerous advisory bodies for the National Science Foundation, the Department of Defense, and the Department of Energy and its various national laboratories. Koonin’s research interests have included theoretical and computational physics, as well as global environmental science. He earned his BS at Caltech in 1972 and his PhD from MIT in 1975.
Note the dates between BS and PhD!