BorgWarner, Manganello donate $2 million to UM for endowed chair in mechanical engineering
The gift creates the first endowed department chair within the University of Michigan College of Engineering, to be called the Tim Manganello / BorgWarner Department Chair of Mechanical Engineering.
DETROIT -- BorgWarner Inc. Chairman Tim Manganello and the company's charitable foundation are donating $2 million to the University of Michigan College of Engineering for an endowment to fund research and teaching.
Manganello, 62, who stepped down as CEO of BorgWarner Jan. 1, remains executive chairman until a planned retirement at BorgWarner's annual meeting April 24.
BorgWarner, based in suburban Detroit, produces a variety of fuel-efficient components for global automakers, such as dual-clutch transmissions.
The gift creates the first endowed department chair within the College of Engineering, to be called the Tim Manganello/BorgWarner Department Chair of Mechanical Engineering, and is expected to generate an additional $100,000 in endowment interest per year to supplement departmental funds for research and teaching.
"This generous endowment from Tim and BorgWarner will generate funds that will enable new initiatives of significant importance to the Department of Mechanical Engineering and will help us achieve some of the goals that we established in our strategic plan," department chair Kon-Well Wang said in a statement from UM.
"It will allow us to explore new ideas that may be high-risk but also high-gain, in research and in education."
Manganello is a College of Engineering alumnus and a former member of the Michigan Engineering Advisory Council. The fund principal and interest cannot be spent on the department chair's salary.