Graduate Management News

February 2017

The Newsletter of the Graduate Management Admission Council

Global Program News

Get the latest news in the graduate management education industry.

  • $150M gift founds Cornell SC Johnson College of Business. The gift is the largest single gift to Cornell’s Ithaca campus and the second largest gift to name a US business school. In recognition of this gift, the Cornell University Board of Trustees has approved renaming the college the Cornell SC Johnson College of Business. Two-thirds of the gift, $100 million, will be used to create a permanent endowment to support the college’s goals.  In the near term, the endowment will provide flexibility for faculty recruitment and retention in Ithaca and New York City; increase the college’s competitiveness for top students through expanded scholarship resources; and develop and expand programs in and outside of Ithaca.

  • Texas Christian University’s Neeley School of Business receives gift to support expansion plans. The recent $5.5 million gift from Tom Sumner, CEO and chairman of Allpoints Service Corp., and his wife, Marilyn, an education consultant, will be used to help complete the necessary financial commitments for the Neeley School building expansion project, which includes new south and east wings, classrooms and learning spaces, a large auditorium, and the latest technological advances in higher education. Sumner earned undergraduate and graduate degrees at the university. Marilyn Sumner earned an education degree from there as well.

  • West Virginia University to build new business education center. A $10 million gift to West Virginia University (WVU) from Bob and Laura Reynolds will make way for a new business education complex in their name at the WVU College of Business and Economics school complex. Bob Reynolds was a 1974 graduate of the economics school where he majored in finance. He is a member of the WVU Foundation board of directors, is president and CEO of three multinational companies: Putnam Investments, Great-West Financial and Great-West Lifeco U.S., Inc.