ATHENS, Ga. - A Florida family with close ties to the University of Georgia has given 20,000 shares of Coca-Cola stock to the school to fund a chair in sales and sales management and establish a scholarship fund at the Terry College of Business.
The gift, an endowment of more than $1 million that was announced Monday, comes from Emily Tanner in memory of her late husband, Charles, a 1916 UGA graduate.
Mr. Tanner, who died in 1982, co-founded Florida Furniture Industries in Palatka, Fla. At UGA, he was a member of the Phi Kappa honorary society and Delta Tau Delta fraternity, and a manager of the 1915-16 football team. He earned undergraduate and law degrees from the university.
One of Mr. Tanner's grandsons, John F. Tanner Jr., earned a doctorate in marketing from UGA in 1988 and is now associate dean of the Hankamer School of Business at Baylor University in Texas.
James Don Edwards, interim dean of the Terry College, said the Tanner gift was unusual because all members of the family were consulted before the stock was given to UGA.
"I found that very unique," Dr. Edwards said, adding that the money was given "with the full support, joy and enthusiasm" of the family.
A total of $1 million of the endowment will support the new chair and support an undergraduate program in ethical sales and sales management, as well as research in that field.
An additional $40,000 fund will provide scholarships at the Terry College for both graduate and undergraduate students.
The search for the eventual occupant of the newly endowed chair will begin within the next 12 months, after the fund has a chance to grow beyond the initial donation, Dr. Edwards said.