University officials publicly announced the naming of the Richard C. Adkerson School of Accountancy Aug. 30 following his $5 million donation to MSU’s accounting school.
The announcement was made at a ceremony held that day before MSU’s first football game.”In naming the Adkerson School of Accountancy, Richard Adkerson is raising this institution’s reputation to the national level.” MSU President Robert ‘Doc’ Foglesong said in a university relations press release.
The contribution creates a major endowment for the school of accountancy, which is part of the College of Business and Industry and received school-level status in 1979.
Executive director of development at MSU Bo Hemphill said along with the notoriety of Adkerson’s name, his contribution will aid the school of accountancy by providing additional funds to be used to expand and enhance the program.
“[Adkerson’s gift] will give the school of accountancy funds to attract and retain nationally recognized professors, and allows for more school of accountancy and MSU scholarship money to attract more quality students [to the program],” Hemphill said.
Adkerson’s contribution will give students more opportunities while at MSU, he said.
“The experiences [Adkerson] had at MSU and the relationships he formed with his professors helped prepare him for a successful career,” Hemphill said. “It’s important to him that students today are offered the same opportunities.”
Interim director for the school of accountancy Clyde Herring said Adkerson’s gift will benefit students by the creation of scholarships and attracting faculty that the school might not have been able to consider because of budget constraints.
“[The gift will] allow us to continue to provide faculty development, and maybe his gift will allow us to add new databases or allow faculty to better utilize those databases we already have,” Herring said. “They’ll [also] increase the type of things we can offer to the students and faculty.”
Accounting graduate student Lauren Peach said students are thankful for Adkerson’s contribution and continued interest in the school of accountancy and the university.
“We appreciate the support [the gift] shows [for students] and the long term investment Dr. Adkerson [is willing to] make in us,” she said.
Adkerson received his degree in accounting with highest honors from MSU in 1969. He earned his MBA in 1970, the same year he earned the second highest score nationally on the certified public accounting examination.
He is a graduate of Harvard University’s advanced management program. Adkerson serves as chief executive officer of Freeport-McMoRan Copper & Gold Inc., the world’s largest publicly traded copper producer, and is currently a resident of Phoenix, Ariz.
In addition to his contributions to multiple funds and scholarships, Adkerson actively aids the university serving as president of the MSU Foundation board of directors, and chair of the “State of the Future” capital campaign.
Hemphill said Adkerson has been an unbelievable alumnus of MSU and that he was very touched to have one of the university’s buildings named after him.
“Richard’s passion for Mississippi State University and the school of accountancy is evident through his continued support and involvement,” Hemphill said.
The Adkerson school becomes the fourth MSU academic unit named after an alumnus in the university’s 129 year history and is the third named since the beginning of the “State of the Future” capitol campaign.
With Adkerson’s donation, the campaign breaks the $385 million mark, only $15 million short of its goal, Hemphill said.
Large contributions like Adkerson’s benefit the university by creating excitement about the university and its students, he said. “[Large contributions] enable us to produce a better product by giving [students] a well-rounded education, let people know there are opportunities to support MSU and raise awareness about giving to the university,” Hemphill said.