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Inside Yale biz school's stocking: $50 million donation

December 20, 2010: 3:51 PM ET

Just in time for the holidays, Yale's School of Management received a $50 million donation from Ned Evans, former chairman of Macmillan Inc., capping off a banner year for donations to elite business schools.

By John A. Byrne, contributor

(poetsandquants.com) -- Santa Claus came early to Yale's School of Management this year.

The former chairman of publishing house Macmillan Inc. pledged a $50 million gift to Yale's School of Management to help foot the bill for a new state-of-the-art B-school campus, Yale announced today. It is the largest single gift in the school's history and one of the largest ever to a business school.

A rendering of the entrance to Yale School of Management's future campus.

What makes the gift somewhat unusual is that Ned Evans, now a private investor who had been chairman and CEO of Macmillan from 1979 to 1989, never graduated from the School of Management. He is a member of the Yale College Class of 1964. For his generosity, Yale will name the new 230,000 square foot home for SOM the Edward P. Evans Hall.

The gift is yet another piece of positive news for the School of Management, which revised a new curriculum in 2006 and laid plans for the move into a new campus to be located at the northern gateway to the university campus. These changes set the stage for the arrival of a new dean, "Ted" Snyder, who is coming off a major turnaround of the University of Chicago's Booth School of Business. More

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