Boston University Renames Business School After DonorLaura Colby
Boston University received $50 million, its largest gift ever, for its management school from retailing executive Allen Questrom and his wife Kelli.
The renamed Questrom School of Business will use the donation to endow 10 faculty positions and help pay for added facilities for the graduate program, the university said.
Questrom, 74, who earned a bachelor’s degree from BU in 1964 and is a trustee, has led retailers including Barneys New York Inc., J.C. Penney Co., Federated Department Stores and Neiman Marcus. He is currently a senior adviser to Lee Equity Partners LLC, a New York private equity firm.
Most of the gift will go toward “the pursuit of outstanding faculty,” Questrom said in an interview. “The only way you can change things is through quality people. Then you can have a snowball effect.”
The business school was rated No. 57 in the country in a Bloomberg ranking of full-time MBA programs in 2014.