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(Boston) – The Shipley Foundation will donate $3 million to Boston University’s School of Management, $2.5 million of which will establish a permanently endowed professorship for a faculty member considered an outstanding contemporary business intellectual with a proven record of superior scholarly research and teaching.
Foundation president Richard C. Shipley announced that an additional $300,000 was pledged to underwrite the Shipley Fund for Excellence, an endowment for use at the discretion of the school’s dean. The balance of the donation will be designated for the Dean’s Discretionary Fund.
“This generous contribution underscores Dick Shipley’s profound desire to promote world-class scholarship and teaching at his alma mater,” said BU President Robert A. Brown. “We deeply appreciate his benevolence and commitment to mentorship.”
Shipley, a BU trustee since 2003, graduated from the School of Management in 1968 with a B.S. in business and earned his MBA with highest honors from the Graduate School of Management. He was president and CEO of the Marlborough, Mass.-based Shipley Company, L.L.C., a wholly owned subsidiary of Rohm and Haas Company (NYSE: ROH), until 1999. Shipley then founded Shiprock Capital L.L.C., a private equity firm that invests in early- and expansion-stage technology companies focused in the fields of information technology and physical sciences.
“Dick Shipley’s generosity reflects a renewed interest among alumni to support President Brown and the university’s 10-year strategic plan to elevate the university to pre-eminent status among institutions of higher learning,” said School of Management Dean Louis E. Lataif. “We are deeply grateful for his ongoing commitment to the work of the School of Management.”
Founded in 1957 by Shipley’s parents, the Shipley Company, now called Rohm and Haas Electronic Materials, continues to be a world leader in electronic chemicals and process innovations for advanced circuit board technology, semiconductor manufacturing and advanced packaging. Its products are integral elements in cell phones, smart cards, computers, flat panel displays, automotive electronics and equipment that power the Internet.
Founded in 1839, Boston University is an internationally recognized institution of higher education and research. With more than 30,000 students, it is the fourth largest independent university in the United States. BU consists of 17 colleges and schools along with a number of multi-disciplinary centers and institutes which are central to the school’s research and teaching mission.