The money keeps rolling in.
The Ross School of Business announced a new $20 million gift to the school Thursday morning.
Donated by former General Mills CEO Stephen W. Sanger, a University alum, and his wife Karen Sanger, a small business attorney, the gift will be used to create the Sanger Leadership Center.
In a press release, Stephen Sanger lauded current Business School leadership programs, namely the Ross Leadership Initiative, and said he was honored to support the continued growth of additional opportunities.
“Among those of us who have recruited talent for our companies, one of the things that sets Ross graduates apart is their leadership skills,” Sanger said. “This difference reflects the innovative, hands-on programs of the Ross Leadership Initiative.”
The center will focus on sustaining current elements of the RLI. The initiative currently facilitates several programs for students, including yearly competitions to form profitable, socially minded businesses in Detroit, crisis management simulations and workshops focused on self-reflection and leadership skills.
The center will also provide feedback for students and personalized coaching, along with resources for faculty working on innovative ideas or new leadership methodologies.
In a statement, Scott DeRue, the Business School’s associate dean and incoming faculty director of the Sanger Leadership Center, said its creation will increase the school’s unique capacities to provide leadership training.
“I envision a future where 50,000 Michigan Ross students — past, present and future — lead positive change in themselves and around the world,” DeRue said. “The creation of the Sanger Leadership Center and the generous gift from the Sangers mark a major leap forward in achieving this important vision.”
The donation comes as part of the Victors for Michigan campaign, a University-wide effort to raise $4 billion. As of early December, the campaign surpassed its halfway point, with $2.49 billion raised thus far.
The Business School has been the beneficiary of several other campaign contributions, including half of a $200 million donation gifted by real estate tycoon Stephen Ross in 2013. His landmark gift was the University’s highest monetary donation received in the school’s nearly 200-year history.
More recently, the University announced a $50 million donation by Ron and Eileen Weiser for several construction projects, including renovations to the Dennison building.
Business sophomore Jordan Katz said he thought that if implemented right, which he added he was confident it would be, the center would attract high levels of student participation.
“I think it’s great,” Katz said. “I think a big focus here at Ross is on leadership and leading successful companies that do the right thing, and I think it gives students a great opportunity to learn about that.”
This is a developing story. Check back to michigandaily.com for more updates..
This story has been updated to include reactions from Ross students..
Daily Staff Reporter Nabeel Chollampat contributed to this report.