Kresge Group Donates a New B-School Chair

The Kresge Foundation has given $600,000 to endow a faculty chair at the Harvard Business School.

The Sebastian S. Kresge Professor ship of Marketing, is one of four faculty chairs given by the foundation to four business schools of different universities.

The other schools receiving endowments, which total $2.4 million, are the University of Michigan, Stanford, and the Wharton School of Finance and Commerce at the University of Pennsylvania.

History of Excellence

Selection of the Graduate Business Schools was based upon their "history of excellence," said William H. Baldwin, President and Trustee of the Kresge Foundation.

The foundation decided to endow the professorships in marketing as a memorial to Kresge because his greatest business contribution was in this field, Baldwin said.