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CONTACT: BILL WINDAUER
Director of Development
College of Business Administration
UI Foundation News
500 Levitt Center for University Advancement
Iowa City IA 52242
(319) 335-3305
e-mail:bill-windauer@uiowa.edu

Release: Immediate

Former chairman of HON pledges $2.5 million to UI business school

IOWA CITY, Iowa -- Stanley M. Howe, chairman emeritus of HON Industries of Muscatine, has made a commitment to the University of Iowa College of Business Administration to provide $2.5 million to support and enhance the business school's popular Evening M.B.A. program, now offered in Cedar Rapids, Newton, and the Quad Cities.

The Howe contribution, which was made through the University of Iowa Foundation, will be used primarily to recruit and retain outstanding faculty and staff for the Evening M.B.A. program, according to Gary Fethke, dean of the college. "This extremely generous pledge is among the largest gifts the college has ever received," said Fethke, "and it comes at a critical moment. Iowa's M.B.A. is strengthening its national reputation for quality and innovation, and Stan Howe's timely and substantial support will definitely help put us on the map. This is very good news for current and future M.B.A. graduates, whose Iowa degrees will only increase in value and prestige."

Howe, who is a member of the College of Business Administration's board of visitors and serves as a visiting UI faculty member in the college's Executive-in-Residence program, said his support for the Evening M.B.A. program reflects his desire to see that top-quality management education is available to students in this region at every stage of their lives and careers.

"We are very fortunate to have an M.B.A. degree of this caliber offered in Iowa," Howe said, "and I want to do all I can to strengthen its value to students and their employers. As a businessman, I can't imagine a better investment than higher education. Support for the University of Iowa pays dividends that have an impact on companies and communities all across the state. I'm proud of my association with the Iowa business school and proud to have the opportunity to help secure the future of its outstanding M.B.A. program."

Fethke said that to recognize Howe for his generous pledge, which will be paid by the Howe Foundation over the next 10 years, the college will create the Stanley M. Howe Distinguished Professor of Leadership in his honor. The holder of the Howe Professorship, which will not be filled until the 1999-2000 academic year, will be a full professor in the College of Business Administration who teaches and conducts research in the area of business leadership.

A native of Muscatine, Howe is a 1946 engineering graduate of Iowa State University and earned an M.B.A. from Harvard University in 1948. He went to work as a production engineer for HON Industries that year, was promoted to vice president of production in 1954, to executive vice president of the company in 1961, to president in 1964, and was named chairman in 1984. He resigned as chairman in 1996 but remains an active member of HON's board of directors and as chairman emeritus. He also serves on the boards of directors of other companies and organizations. In 1986 he received the Oscar C. Schmidt Business Leadership Award from the UI College of Business Administration and was awarded the UI Alumni Association's Distinguished Friend of the University Award in 1995.

Stan Howe and his wife, Helen H. Howe, are active volunteers within the Muscatine community as well as on behalf of the University of Iowa. Both are members of the UI Presidents Club, which recognizes the university's most generous contributors.

The University of Iowa Foundation is the preferred channel of support for private contributions to all areas of the University of Iowa. Foundation staff work with alumni and friends to provide resources for professorships, scholarships, building renovations, equipment, technology, and other forms of support for the UI.

6/3/98