Alumnus Norman E. Snyder Jr. Commits Largest Gift from an Individual in University's History
SoBe partner and Rheingold Brewery chief's gift will establish $5 million Business School endowment fund
Contact: Catherine Herman (518) 437-4980
ALBANY, N.Y. (October 17, 2005) -- Rheingold Brewing chief and former partner of the South Beach Beverage Company (SoBe) Norman E. Snyder Jr., '83 today committed $5 million to the University at Albany's School of Business to establish the Norman E. Snyder Jr. '83 Endowment Fund. The fund will be used for general support of the business school's goal to become the leading public business school in the Northeast. The commitment represents the largest gift from an individual in the University's history.
Snyder, who received his accounting degree from UAlbany, said, "The Business School did a great job in preparing me for the real world. I learned that hard work pays off. It gives me immense pleasure to give back, and I encourage all alumni and friends of the School of Business to step up and make a leadership commitment to the school and the dean's vision."
University at Albany President Kermit L. Hall said, "The University is very grateful to Norm for his commitment to the School of Business and for advancing our goal of becoming the premier business school in the Northeast."
Dean Paul A. Leonard of the Business School said, "Norm is one of our most committed alumni, and we are grateful for his leadership and vision in helping the school realize its full potential."
"The University is deeply appreciative to Mr. Snyder for his shared goals for the School of Business," said Deborah A. W. Read, vice president for university development. "His commitment is testament to the strength of his experience at the University and the quality education he received."
Snyder is the chief operating officer of the Rheingold Brewing Company, the familiar New York brand that was re-launched in the spring of 2003. Prior to joining Rheingold he ran a consulting business that worked with small to mid-size businesses on financial and operational issues. Snyder, a partner in the South Beach Beverage Company that was founded in 1995, served as the company's chief operating officer. Prior to SoBe, Snyder spent five years with the National Football League Properties, Inc., the marketing arm of the National Football League, serving as controller. In addition, he spent eight years with Price Waterhouse, one of the world's largest international accounting and consulting firms, including a two-year assignment in their Caracas, Venezuela office.
Snyder's pledge follows a week after the School of Business revealed plans for a new, $40 million facility designed to be student-centered and technologically advanced. In addition to the new building, Leonard's goals for the Business School include attracting top students, bolstering partnerships with national firms, increasing the amount of resources dedicated to research, and contributing to the economic development of the Capital Region.
The Norman E. Snyder Jr. '83 Endowment Fund will support business school facilities improvements, retention, student and alumni career services, financial aid awards, research projects, work study and internship opportunities, faculty recruitment, and faculty research initiatives. In addition, the school announced its Nano+MBA program, a first-ever joint degree program dedicated to producing highly skilled business leaders equipped to compete in the global high-tech industry, focusing on nanoscale science and engineering. Hundreds of Business School alumni hold top positions in the nation's accounting firms; the Big Four firms employ more than 35 alumni as managing partners, while Deloitte & Touche employs more than 90 Business School grads.