Walmart president and CEO Doug McMillon has donated $1 million to the University of Arkansas’ Walton College of Business, the university announced Thursday.
A statement released by the UA says McMillon donated the money to establish the McMillon Family Endowed Excellence Fund at the college.
“The fund will establish an endowment as the catalyst for a proposed School of Global Retail Operations and Innovation, which will have a unique interdisciplinary scope and global focus…in retail learning and research,” according to the statement.
The proposed school would be housed in the College of Business and would need to be approved by the Arkansas Board of Trustees.
McMillon graduated from the college in 1989. He began working for Walmart as an intern in 1984, according to the UA.