Tuesday, March 8, 2011
Press Release: Carnegie Mellon, Shrinivas V. Dempo Announce $3 Million Gift To Endow Chair at Tepper School of BusinessContact: Teresa Thomas / 412-268-2900 / firstname.lastname@example.org
PITTSBURGH—Carnegie Mellon University announced today that Shrinivas V. Dempo, chairman of the Dempo Group of Companies in Goa, India, has made a $3 million gift to endow a professorship in the university's Tepper School of Business.
The gift will be used to endow the Vasantrao Dempo Reflective Chair, which will be held by a Tepper School of Business professor and support teaching and research on societal scale phenomena that are relevant to India. Vasantrao S. Dempo was the founder of the Dempo Group, and Shrinivas Dempo's grandfather.
"I am delighted to be partnering with Carnegie Mellon University in endeavoring to do a number of things at once by means of the endowment," said Dempo Group Chairman Shrinivas Dempo. "The professorship would continue my relationship with my alma mater in a way that is to me both meaningful and fulfilling, enable a worthy homage to the memory of my much-loved grandfather, Vasantrao Dempo, and help create the framework of distinguished collaborative American scholarship in India — related studies that would hopefully lead to more inclusive growth for the people of my country, a dream that my grandfather saw in his lifetime and strove for."
The "reflection" chair is a new concept intended to formally link faculty at Carnegie Mellon and at leading universities in India. Thus, there will be two Vasantrao Dempo Professors at every point in time — one at Carnegie Mellon and one in India. The selected Carnegie Mellon faculty member will be appointed to the chair for a tenure of four years, which can be renewed for one additional four-year term, after which a different faculty member will be chosen. The Indian scholar who partners with the chair will be a senior, tenured faculty member of an Indian university.
The partnership continues Carnegie Mellon's important connections to India. More than 30 percent of Carnegie Mellon students are from outside the U.S., and the majority of those students are from India. In addition, the largest concentration of CMU alumni outside of the U.S. lives in India.
"On behalf of Carnegie Mellon University, I would like to thank Shrinivas Dempo for this generous gift," said Carnegie Mellon President Jared L. Cohon. "This chair continues the strong ties between Carnegie Mellon and India. Many of our faculty and students hail from India, and the country is home to many of our alumni. We are pleased to be partnering with Shrinivas Dempo, a widely respected name in India, through this professorship."
About Shrinivas V. Dempo: Born on 1st February, 1969, Shrinivas post-graduated from Carnegie Mellon University in Industrial Administration in 1995. Returning to India to head the Dempo family conglomerate as its third generation head (present group turnover US$ 153 Million), he maintains close ties with Carnegie Mellon, while devoting himself, along with his wife, Pallavi, to the businesses and their extensive social responsibility initiatives into higher education, sporting excellence, environmental conservation and Goan culture enrichment. Shrinivas and Pallavi reside in the Goan capital, Panaji, and have two school-going daughters.