NRI Mittal donated $3 million Kellogg MBA scholarships

 

Chicago, November 1, 2005
Satinder Hansra

NRI, Lakshmi Mittathird-richest world's billionaires, Mittal Steel Co. has established a $3 million scholarship program with Northwestern University’s Kellogg School of Management, one month after deciding to locate its U.S. headquarters in Chicago.

According to Crain's Chicago Business, starting next fall, the global steel giant will fund 20 three-year scholarships for MBA students from emerging economies, including Africa, Asia, Central and Eastern Europe and South America. Students with a stated interest in those regions also are eligible.

This is the first corporate scholarship program with a focus on emerging economies at Kellogg, which in recent years has developed courses and a study-and-travel program aimed at fast-growing parts of the world, says Robert Korajczyk, senior associate dean. The business school also has an extracurricular emerging markets club for students who are from or interested in those countries.

Rotterdam-based Mittal also plans to offer internships to scholarship recipients and fund continuing education by employees in Kellogg’s Executive Education Programs.

With revenues of $22.2 billion last year, Mittal has operations in 14 countries and a concentration in emerging markets such as Poland, Czech Republic, Romania, Bosnia, Macedonia, Kazakhstan, South Africa and Mexico. The company also recently acquired a large stake in a Chinese producer of steel wire and tubes.

Both Dipak Jain, Kellogg’s dean, and Lakshmi Mittal, the London multi-billionaire who created the steel conglomerate and serves as its chairman and CEO, sit on the executive board of the Indian School of Business in Hyderabad, India, which was co-founded by Kellogg, the London School of Business and the Wharton School of the University of Pennsylvania.

Kellogg School has been named the top MBA program in the world

Kellogg located in the Chicago suburb of Evanston, Illinois, Northwestern University opened its School of Commerce in 1908 as an evening program for Chicago area business professionals.

Kellogg was named the top business school in the United States in the first-ever ranking published in the Wall Street Journal in 1985. In turn, BusinessWeek rated the Kellogg School No. 1 in 2002, 1992, 1990 and 1988, and No. 2 in 2000, 1998, and 1994. For the past two consecutive years, the Kellogg School has been named the top MBA program in the world by The Economist Intelligence Unit, a division of The Economist Group. In addition, for more than a decade, the Kellogg School Executive MBA program has been ranked No. 1 by BusinessWeek and U.S. News and World Report

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