- Associated Press - Thursday, April 17, 2014

FAYETTEVILLE, Ark. (AP) - The University of Arkansas has received a $1 million gift from the CEO of Wal-Mart and his wife to benefit the school’s business college.

Wal-Mart Stores Inc. Chief Executive Officer Doug McMillon and his wife, Shelley, are establishing an endowed fund for the Sam M. Walton College of Business - which is named for Wal-Mart’s founder.

The endowment will go toward a proposed School of Global Retail Operations and Innovation. Chancellor G. David Gearhart says the school would establish UA as a “premier location” in consumer research and retail education.

UA says the school would require approval from the university‘ Board of Trustees. The school would initially draw on expertise within the business college but would eventually include disciplines such as agriculture, architecture, engineering, psychology and sociology, among others.



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