January 17, 2023

Raytheon Technologies commits $4 million to Purdue for named chair position in new School of Business

WEST LAFAYETTE, Ind. – Raytheon Technologies Corp. (NYSE: RTX), one of the largest aerospace and defense manufacturers in the world, has committed $4 million to Purdue University for a named chair position in the university’s reimagined School of Business.

This new position, named the Raytheon Technologies Chair in Integrated Business and Engineering (IBE), will support faculty leadership, discovery and engagement within business and STEM intersections. Purdue’s recently inaugurated IBE program is a foundational component of the new School of Business, which was unveiled in September as the next big move in a decade-long series of major strategic investments by the university.

“This partnership with Raytheon Technologies represents a significant achievement for Purdue and our new business school,” said Mung Chiang, president of Purdue University. “Our goal is to develop a world-class business school through this relaunch, one that develops leaders at the intersection of business and technology who can create growth and make breakthroughs.” 

This partnership expands on Purdue’s longstanding relationship with Raytheon Technologies.

“Fully integrating business and engineering expertise is essential to the future of both our industry and American competitiveness on the global stage,” said Greg Hayes, chief executive officer of Raytheon Technologies. “Continuing to evolve the way that we teach – and learn – about developing innovative solutions to the world’s most complex challenges is the only way forward. This chair position is part of our commitment to that end.”

Raytheon has many employees enrolled in Purdue's ecosystem of educational offerings, including approximately 30 engineers who began taking courses in the business school’s executive training program in 2022. The company is also a top employer of Purdue students.

“Purdue and Raytheon Technologies both have their eyes on the future, and we share an interest in cultivating well-rounded leaders,” Chiang said. “We have already established an important relationship with them, particularly in research and development. This gift is an incredibly meaningful expansion of our collaboration.”

About Purdue University

Purdue University is a top public research institution developing practical solutions to today’s toughest challenges. Ranked in each of the last five years as one of the 10 Most Innovative universities in the United States by U.S. News & World Report, Purdue delivers world-changing research and out-of-this-world discovery. Committed to hands-on and online, real-world learning, Purdue offers a transformative education to all. Committed to affordability and accessibility, Purdue has frozen tuition and most fees at 2012-13 levels, enabling more students than ever to graduate debt-free. See how Purdue never stops in the persistent pursuit of the next giant leap at https://stories.purdue.edu.

Writer: Aaron Martin

Media contact: Derek Schultz, schul221@purdue.edu

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