DES MOINES, Iowa — Drake University's College of Business and Public Administration has a new name.
Officials announced the Larry and Kathleen Zimpleman College of Business at a press conference Tuesday.
The college's new name recognizes "the Zimpleman’s decades long relationship with and continuing commitment to Drake," according to a press release from the university.
Larry, who is the former CEO of Principal Financial Group, has served as member of the university's Board of Trustees since 2006 and donates frequently.
"Drake made a huge difference in our lives and so this really is about paying that forward," Kathleen Zimpleman said. "And its about helping other students dreams take wing."
Larry earned a degree in actuarial science in 1973 and an MBA in 1979 from Drake, while Kathleen completed a sociology degree from Drake in 1976.
This is only the second named college at Drake.
The Zimpleman's donation will also contribute to a multi-million dollar philanthropic investment to the college.
The university says the couple's support will allow the college to provide additional scholarships, hands on opportunities and continue the university's mission.
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