August 14, 2005
B-School News: Developer Peter Fox Endows UIUC B-School Professorship
From the News-Gazette:
Published August 5, 2005
Developer, wife giving $2 million for professorships
URBANA – Champaign developer Peter Fox and his wife Kim are giving $2 million to the University of Illinois to help recruit top professors and promote business growth in Champaign-Urbana.
The $2 million will fund four professorships at $500,000 each, with priority given to faculty who are involved in private business and in the development and transfer of UI technologies to the private sector.
"I felt that it might attract people that could further enhance some of the (economic development) efforts the university already had under way," Fox said.
"This seemed like a good time to do this," he added. "We'd been very impressed with (Chancellor) Richard Herman and the new president. It seemed like the people were in place to make sure the gift had some long-term meaning."
The professorships will be in the Department of Electrical and Computer Engineering, the Department of Chemical and Biomolecular Engineering, the College of Business, and in one other department to be determined by the chancellor.
Endowed professorships or chairs are a way to recruit the best faculty, said Herman, who wants to increase the number of such endowments from about 230 now to 500 in the next five to seven years. Herman said the professorships will create "an even closer link between the research of this campus and society."
LINK to rest of article
Posted by Becky at August 14, 2005 6:40 PM Posted to Business School News