PHOENIX — Northern Arizona University has received the largest financial donation in school history.
Former America West Chairman William Franke has donated $25 million to the school.
The money is intended for the NAU College of Business, which will be renamed the W.A. Franke College of Business, the school said.
The donation will pay for new faculty, program development and scholarships. The curriculum at the business school will be overhauled and will focus on skills that Franke considers essential, including oral and written communication and strategic business planning.
Franke was never a student at NAU but said he chose the school because of its strong focus on undergraduate education. "We hope this gift will take what NAU already has and strengthen it," he said.
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NAU President John Haeger said Franke's donation will have a tremendous impact on the 20,000-student university and will create a momentum for others to donate.
The Stanford University graduate said he felt the $25 million would make the most difference at NAU. He is especially interested in providing scholarships for American Indians, Hispanics and first-generation college students.
A significant portion of the gift will be donated up front. NAU officials said the rest will come later as an endowment.
Franke's gift represents another large donation to one of Arizona's business schools. Within the past four years, financier William P. Carey pledged $50 million to Arizona State University's business school, and entrepreneur Sam Garvin pledged $60 million to the Thunderbird School of Global Management.
Franke is best known for shaking up bankrupt Circle K. Corp. and America West Airlines.
His sometimes blunt bottom-line-focused style was unpopular among some employees.
Franke was chairman of America West, now US Airways, from 1992 to 2001.
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