University of Alabama to receive $15 million gift

A $15 million gift to the University of Alabama by Lockheed Martin Corp. President Marillyn A. Hewson and her husband, James, is the largest one-time financial contribution in the Capstone’s history.

“I am deeply thankful for the strong business education I received at the University of Alabama,” said Marillyn Hewson in a statement released by UA on Monday. “That education helped prepare me for many of the challenges and opportunities I’ve encountered throughout my career — from the day I joined the company as an industrial engineer to my current role as CEO.”

Hewson, chairwoman, president and CEO of the aerospace company, and her husband made the $15 million gift in Lockheed Martin stock to the Culverhouse College of Business, Vice President of Advancement Bob Pierce said.

While the university announced the gift on Monday, the plans for funds use by the college will be announced later this fall, Pierce said. The gift must be formally accepted by the University of Alabama System board of trustees, which is scheduled to meet again September.

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