The “most generous graduate” of Yale School of Management, India-born Indra Nooyi, will get a unique honour when the prestigious institution will name its deanship in the honour of PepsiCo’s CEO.
Nooyi has gifted an undisclosed amount to her alma mater, Yale School of Management, to thus becoming the school’s biggest alumni donor and the first woman to endow a deanship at a top B-school.
While choosing to not disclose the Nooyi donated amount, Yale said her “landmark gift” to endow the deanship of the school and open an innovation fund has made her the “most generous graduate” of the institution in terms of lifetime giving to the school.
Nooyi is also the first woman to endow the deanship at a top business school, Yale School of Management said in a statement.
Nooyi, who graduated from the school in 1980, credited her experience at the school for forever altering the course of my life and said her gift pales in comparison with the “gift that Yale gave me — the fundamental understanding that leadership requires an expansive worldview and a deep appreciation of the many points of intersection between business and society.”
“Business issues are never just business issues, and my most ardent hope is that this endowment will teach future generations of leaders that the most successful companies of tomorrow will do more than make money,” Nooyi said in a statement.
“They will make a difference and create shareholder value by improving the quality of life in every market in which they operate,” she said.
Nooyi joins several prominent persons of Indian-origin who have donated generously to US universities.
In October last year, Nooyi’s sister and Grammy-nominated musician Chandrika Tandon and her husband Ranjan had made a $100 million gift to the New York University’s School of Engineering, one of the largest philanthropic gifts by a member of the Indian-American community.
In 2010, Harvard Business School had received a gift of $50 million from Tata Companies.
Industrialist Ratan Tata had attended the School’s Advanced Management Programme in 1975.
The gift will also be used to inaugurate the Fifth Decade Innovation Fund, which is named in recognition of the school entering fifth decade; the first class entered the Yale School of Management in 1976.
The fund is an ambitious initiative designed to advance the school’s aim of developing leaders with the broad global mind-set and multi-disciplinary approach to business that is needed to succeed in 21st-century capitalism.
It will be open to additional substantial contributions that can help the school develop the technology and other infrastructure to support these and future initiatives.
Nooyi has a long record of support for the Yale School of Management. She previously made substantial contributions to the construction of the Edward Evans Hall, including gifts to name the Nooyi Classroom and the Isaacson Classroom in memory of Professor Larry Isaacson.