New Iowa State University Business PhD Program gets Boost through Gift from Russell and Ann Gerdin

March 9, 2009
Contacts:
Labh Hira, College of Business, 515.294.2422
Dan Ryan, College of Business Marketing & Alumni Relations, 515.294.5800
Dave Gieseke, ISU Foundation Communications, 515.294.7263

AMES, Iowa-- Iowa State University’s College of Business will launch its first ever Ph.D. program this fall and a recent gift by Russell and Ann Gerdin of Iowa City, Iowa, will support that venture.

The Gerdins have contributed $1 million to an endowment fund to support the Business and Technology Ph.D. program. The full-time residential program will focus on theory development and testing in areas relating to the management of three critical resources of any organization-- namely, management of a firm’s customers, management of a firm’s supply chain, and management of a firm’s information infrastructure.

"The Gerdins are long-time friends of the College of Business," said Labh Hira, the Raisbeck Endowed Dean of the College of Business. "They fully support the college’s efforts to become a comprehensive business college, serving the state of Iowa, the region, the nation and the world by offering a full portfolio of educational opportunities in business disciplines. Their investment in the Ph.D. program signifies their support for the college’s growth and development."

Russ Gerdin is the founder of Heartland Express, a trucking firm that he built from the ground up into one of the nation’s largest. He continues to serve as chairman and CEO of that firm.

The Gerdin's $10 million lead gift made possible the construction of the Gerdin Business Building on campus. In addition to the $1 million gift to the Ph.D. program, the Gerdins also recently contributed $100,000 to Iowa State athletics and $100,000 to the Gerdin Citizenship Program. This program for freshman and sophomore business majors engages the students in hands-on activities to develop leadership skills, knowledge and abilities.

"(Before making this most recent gift) I thought about how Labh (Hira) and his staff have done such a great job, and the students have been so appreciative," Russ Gerdin said. "Why shouldn’t I back this Ph.D. program that the college needs? The thing that impresses me the most (about the College of Business) is the students and how much they really care. The whole culture has always been very good and that just impresses me."

These gifts are part of Campaign Iowa State: With Pride and Purpose, the university’s $800 million fundraising effort. More than $665 million in gifts and future commitments for facilities and student, faculty and programmatic support have been made to Campaign Iowa State.