Recent Gift to Endowed Fund Benefits Research in Smeal College

Some recent contributions to an endowed fund will benefit research in Penn State's Smeal College of Business Administration for generations to come.

The Richard A. and Nancy Zimmerman Endowment for Excellence in Business Administration has recently received an additional $1.1 million gift from Richard and Nancy Zimmerman of Hershey, PA. The couple established the fund in 1989 with a $64,000 gift.

"The fund will now provide even more support for faculty research activities, and will create a broader base for scholarly research in business at Penn State," says Judy Olian, Dean of the Smeal College of Business Administration.

The fund provides monies for faculty research, educational equipment, visiting lecturers, student scholarships, and special projects in Smeal College.

"This is a truly significant commitment to our efforts and will provide significant resources to attract top-notch students and faculty to pursue their study and careers at Penn State. It is a wonderful contribution to Smeal College, our Grand Destiny Campaign, and to our students," says Olian.

Richard received his bachelor's of arts from Penn State in 1953. He joined Hershey Foods as an administrative assistant in 1958 and worked his way through the ranks, becoming vice president in 1971; group vice president in 1976; president and COO in 1976 and CEO in 1984. He added the rank of Chairman of the Board in1985. During his nine-year tenure as Chairman and CEO, Richard established new sales and earnings records each year. He retired from Hershey Foods Corporation in 1993.

He is a member of the Board of Directors for Eastman Kodak and a member of Eastman Kodak's Finance Committee. In addition to Eastman Kodak, Zimmerman is currently a member of the Board of Directors for Westvaco Corporation, the Donald B. and Dorothy L. Stabler Foundation, and Stabler Companies, Inc. in Harrisburg, PA. He has been on the board of Dr. Pepper Co., and the Pennsylvania Chamber of Business and Industry.

While he was a student at Penn State, Richard belonged to Phi Kappa Psi Fraternity and Navy ROTC. He served in the U.S. Navy from 1953 until 1956, reaching the rank of lieutenant.

Throughout his career he has been very active in community affairs. He has served as chairman and trustee of the United Theological Seminary in Dayton, Ohio, and currently heads their fundraising efforts. He was chairman of the Pennsylvania Business Roundtable from 1988 to 1990 and was Chairman of the Board of Governors of Uniform Code Council, Inc.

He was the recipient of the Brotherhood Award from the National Conference of Christians and Jews, and the Churchman of the Year Award by the Religious Heritage of America Organization. In 1994, he received the "Humanitarian Award for Outstanding Community Service" by the Alexis de Tocqueville Society of the United Way of the Capital Region.

Richard also received the Penn State Distinguished Alumni Award in 1987 and the Penn State Alumni Fellow Award in 1978. He is a member of the University's Grand Destiny Campaign Executive Committee and the University's Board of Trustees.

Richard and his wife, Nancy, have two children.