Dr. Amar Bose Donates Company Shares & Stocks To MIT
81 year old Dr. Amar Bose, the founder of BOSE Corporation, a privately held company, donated a majority of company's share to his alma mater Massachusetts Institute Of Technology (MIT) as a gift. The gift as been made in the form of non-voting shares. This means that Bose Corporation will continue to operate as a privately held company and MIT will have no right to sell the shares and control the company's operations or govern its decisions. MIT will receive annual cash dividends whenever the dividends are paid by the company. MIT will utilize these funds to sustain its ongoing research projects and also invest in taking up newer research missions. Apart for this, there won't be any strategic change in the company's leadership or policies. Dr. Amar Bose will continue to remain the Chairman and Technical Director.
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Dr. Amar Bose . Image Credit: MIT
Dr. Bose received his bachelor's degree in Electrical Engineering from MIT. He continued is post-graduate studies in MIT and received his masters and PhD. He was asked to join the faculty in 1956 and he took up the opportunity to teach for not more than 2 years. He however continued to be a member of the MIT faculty until 2001 and taught the undergraduate students of Electrical Engineering.
MIT's president, Dr. Susan Hockfield expressed her gratitude for the gift and remarked on Dr. Bose's generosity & humility. Calling the gift as 'great', she said that Bose is a superb example for MIT students who yearn to cut their own path. She lauded Dr. Bose's highest standards in teaching and said he was one of the most admired faculties on the campus.
In a letter to employees, Bose wrote that the gift was his long-held desire to support MIT and education while reaffirming the company's mission to play for the long run.
Via: #-Link-Snipped-#
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Dr. Amar Bose . Image Credit: MIT
Dr. Bose received his bachelor's degree in Electrical Engineering from MIT. He continued is post-graduate studies in MIT and received his masters and PhD. He was asked to join the faculty in 1956 and he took up the opportunity to teach for not more than 2 years. He however continued to be a member of the MIT faculty until 2001 and taught the undergraduate students of Electrical Engineering.
MIT's president, Dr. Susan Hockfield expressed her gratitude for the gift and remarked on Dr. Bose's generosity & humility. Calling the gift as 'great', she said that Bose is a superb example for MIT students who yearn to cut their own path. She lauded Dr. Bose's highest standards in teaching and said he was one of the most admired faculties on the campus.
In a letter to employees, Bose wrote that the gift was his long-held desire to support MIT and education while reaffirming the company's mission to play for the long run.
Via: #-Link-Snipped-#
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