$20 million Sauder gift largest ever to name a Canadian business school
The largest single private donation ever made to name a Canadian business school has created the Sauder School of Business at the University of British Columbia.
Dr. William L. Sauder, a B.C. forest industry leader and former UBC Board Chair and Chancellor, today endowed UBC's Faculty of Commerce and Business Administration with a gift of $20 million.
In response, the provincial government announced it will phase in the ongoing commitment of $1 million per year in increased funding to support the creation of 125 new student spaces in the Sauder School of Business.
"I am very proud to be able to give something significant back to UBC - the institution that provided me with the knowledge to help me establish my business career - and to British Columbia, which I have called home all my life," said Sauder, a 1948 BCom graduate of UBC who is Chair of International Forest Products Ltd. and Sauder Industries Ltd. "I believe that it is extremely important for us to create opportunities for young people and to provide them with the tools they need to shape their futures in this great province - especially if we are going to create the wealth necessary to look after the ongoing needs of healthcare and education."
"Bill Sauder has been a leader in creating new educational opportunities for British Columbians," said Premier Gordon Campbell. "This is an exceptional contribution that will increase the quality of skilled graduates, and I want to thank Bill and the University of B.C. for the opportunity for the Province to be a partner in this expansion."
"Bill Sauder has contributed so much to the economy of British Columbia and the leadership of this university," said UBC President Martha Piper. "The special honour he bestows with his name is an incredible expression of confidence in the future of business education at UBC."
"These investments are strong statements of support for this business school's innovative approach to management education and research," said Daniel Muzyka, Dean of the newly named Sauder School of Business at the University of British Columbia. "The resources provided today will enhance our capacity to provide an education that inspires future business leaders to think entrepreneurially, generate new management knowledge through research, and contribute to the growth of the economies of British Columbia, Canada and the world."
Muzyka said revenue from the Sauder gift, an endowment that yields ongoing income, combined with the Provincial funding increase, will create additional student spaces and increase the capacity to add more courses and create new management education programs for Canadian and international students. The gift will also expand research capabilities by allowing the school to recruit additional faculty, further enhancing its contribution to new management practices and ideas.