(Bloomberg) — Boston University received $50 million, its largest gift ever, for its management school from retailing executive Allen Questrom and his wife Kelli. The renamed Questrom School of Business will use the donation to endow 10 faculty positions and help pay for added facilities for the graduate program, the university said. Questrom, 74, who earned a bachelor’s degree from BU in 1964 and is a trustee, has led retailers including Barneys New York Inc., J.C. Penney Co., Federated Department Stores and Neiman Marcus. He is currently a senior adviser to Lee Equity Partners LLC, a New York private equity firm. “When one looks at where investment can do the most good, you have to think of innovation in our schools,” Questrom said in a statement. “The route to earned success is to be well educated.” Questrom said he hoped other students would “pay it forward” and help the next generation to succeed in business. The business school was rated No. 57 in the country in a Bloomberg ranking of full-time MBA programs in 2014.
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