Pennsylvania State University (PSU) has announced a $5 million commitment from alumnus John M. Arnold (MBA ’87) and his wife, Karen, in support of the Smeal College of Business.

The gift will endow the John and Karen Arnold Dean’s Chair at the college and provide discretionary funding for the current dean, Charles H. Whiteman, and his successors to bolster strategic initiatives and other high-priority needs. With the commitment, Smeal becomes the university’s eighth college to have a named dean’s chair.

Arnold started PPC Lubricants in the early 2000s and was chairman and CEO until he sold the company last year. In 2015, his wife retired from her position as assistant to the vice president of transportation at PVH Corp. The couple has previously supported the Smeal College of Business through giving aimed to assist students and faculty in the Department of Management and Organization, the Department of Finance, and the MBA program.

“A strong dean is integral to the success of our students and faculty, and I am deeply grateful to John and Karen Arnold for their gift to create a named dean’s chair for the Smeal College of Business,” said PSU president Neeli Bendapudi. “Their generous gift will help Smeal’s deans pursue bold initiatives that prepare our students to be exceptional business leaders and support innovative faculty research that can shape the future of business.”

“So many times, gifts are targeted to specific initiatives. But Karen and I understand how important it can be to have a flexible pool of money to pursue important priorities,” said John Arnold. “Our gift is one way we can support Dean Whiteman’s vision for business education now. But it will also help ensure that Penn State can continue to recruit leaders who will advance Smeal’s mission well into the future, which was also important to us.”

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