Krach is chairman of the board of DocuSign in San Francisco and an early pioneer in the robotics industry. He earned a degree in industrial engineering from Purdue in 1979. He served on the Purdue Board of Trustees from 2007-2013 and was chairman for two terms. In 2014 the Krach Leadership Center on the university’s West Lafayette campus was dedicated in his honor after he and wife, Metta, provided a $10 million donation. The Krach Leadership Center houses student resources including academic help, leadership development programs and student organization meeting space.

Krach and other IE graduates were also honored at a School of Industrial Engineering Commencement Reception prior to the May 13 commencement ceremony. Purdue College of Engineering Dean Mung Chiang attended to congratulate Krach and other graduates at the reception in Grissom Hall's Peter Wang Student Excellence Center.

Past IE alumni who have received Honorary Doctorates are: Juan Ernesto De Bedout (2013), John A. Edwardson Jr. (2006), Michael L. Eskew (2002), James M. Frische (1994), and Robert C. Forney (1981).