This is an archived article.

August 31, 2001

Boeing gift of $1 million to fund new chair at UW Business School

The University of Washington Business School will announce a gift today of $1 million from The Boeing Co.

The school will use the funds to endow a new chair in Business Administration in the name of Philip M.Condit, to honor the distinguished career of the Boeing chairman and chief executive officer and the company’s many contributions to higher education during its 85-year history in the state of Washington.

UW President Richard L. McCormick praised Boeing’s generosity.

“Boeing has been a great friend to the University of Washington for decades, and this gift is yet another example,” McCormick said. “The Boeing Endowment for Excellence, established in 1980, was one of the first such gifts at the university, and has contributed significantly in providing a margin of excellence for programs in engineering, business, applied mathematics and music. I’m particularly pleased to have this gift honor Phil Condit. We look forward to continuing our strong partnership with Boeing in the years ahead.”

Business School Dean Yash Gupta said the new chair will support the school’s ongoing efforts to recruit and retain the very best faculty.

“We also thought it very appropriate to name it the Philip M. Condit Chair in Business Administration because Phil’s career achievements perfectly embody the vision, leadership and social responsibility that we hope to instill in our graduates,” Gupta said. “Moreover, Boeing — under Phil’s leadership — is really committed to the idea, as we are, that success in today’s global, high-tech economy requires lifelong learning.”

A professor will be appointed to the Condit Chair later this year.

Boeing has strong links to both the University and the Business School. More than 2,400 Boeing managers have benefited from the 39-year Aerospace Industry Manufacturing Seminar (AIMS) relationship.

AIMS is a three-week residential program for Boeing managers from manufacturing, operations and engineering who have at least five years of management experience. More than 1,000 Boeing employees have participated in other Business School certificate programs and, on average, 10 Boeing employees attend the executive MBA program annually.

“I am very honored that Dean Gupta will endow a chair in my name,” Condit said. “But more importantly, this gift to the Business School is part of the company’s long-term commitment to higher education, and to improving the quality of life in every community where Boeing has a presence. I believe that no investment is more important than education. Education leads to opportunity. It opens doors. And it benefits everyone, helping people become better citizens.”

Reporters may attend the gift announcement at 2 p.m. today in the Douglas Forum, fourth floor of the Seafirst Executive Education Center at the UW Business School (northeast corner of campus). UW President Richard L. McCormick; Business School Dean Yash Gupta; Philip M. Condit, chairman and CEO of The Boeing Company; and Alan Mulally, president and CEO of Boeing Commercial Airplanes, will be available to answer questions. Please show media ID at any campus parking gate.

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For more information contact Gupta at (206) 221-5749 or ygupta@u.washington.edu