The University of Rhode Island has announced a $15 million gift from alumnus Alfred J. Verrecchia ('67, MBA '72, H '04) and his wife, Geraldine, in support of its College of Business.

The gift will establish the Alfred J. Verrecchia Center for Business Excellence as a teaching, learning, and research hub and create a scholarship for high-achieving students, a fund for students pursuing competitive internships, a faculty chair and professorship in artificial intelligence and business analytics, and an emerging technology fund aimed at increasing experiential learning opportunities — all of which will be named for Verrecchia.

Longtime supporters of the university, the Verrecchias helped create the Alfred J. Hasbro Leadership Chair in the College of Business in 1997 and awarded a challenge grant for scholarships in 2009 that ultimately yielded more than $1.25 million in financial aid. Verrecchia, who served as CEO of Hasbro from 2003 to 2008 and as the company's chair until 2015, currently is the chair of Iron Mountain.

"Our investment in URI is a direct result of our confidence in the leadership and vision of President [David M.] Dooley," said Verrecchia. "We have been impressed with the progress and all that has been accomplished at the university in the last several decades. We believe that URI will continue to push the boundaries of learning and technology, practical experience, and interdisciplinary thinking."