Peggy and Lowry Mays
Courtesy photo
Lori Mays, who graduated from Texas A&M University in 1957 and gave the business school its name, has died at the age of 87.
Mays, who earned his bachelor’s degree in petroleum engineering from Texas A&M, was the founder and CEO of Clear Channel Communications. He was committed to supporting his alma mater, serving two non-consecutive terms (1985-1991 and 2001-2007) on the Texas A&M University Board of Regents, including its chairmanship from 2003-2005.
“A big tree fell in Aggie Forest today,” said John Sharp, chancellor of the Texas A&M University System. “We will never forget what he did for Agyeland.”
The Texas A&M School of Business was endowed in May 1996 with a $15 million endowment and named the Lowry Mays College and Graduate School of Business. The university renamed the school again in 2002 to the Mays School of Business. In the year In 2017, the Mays Family Foundation made an additional $25 million gift, the largest one-time commitment in the business school’s history. Both gifts were part of a total lifetime gift of $47 million.
“I am honored to help support the school’s vision to advance global prosperity … (and) to develop transformative leaders and address the challenges of entrepreneurship and innovation,” Mays said when the second major gift was announced.
Texas A&M University President M. Kathryn Banks said, “We are saddened to hear of Lori Mays’ death today. He truly exemplified Aggie’s core values. The Mays family has had a tremendous impact on the business school, providing countless opportunities for students and faculty, as well as through their service on the university system’s Board of Regents. Aggies is proud to continue its legacy of leadership and service.
The Mays School of Business has grown to become one of the nation’s leaders with several programs in the top 20 nationally, and the Mays’ generosity has led to many non-contributory efforts. In the year In 2009, their $7.5 million gift supported several endowed faculty chairs, including the Benton Cockanower Chair, named for dean emeritus and professor emeritus of the business school. Another support of the MISE is the establishment of the May Innovation Research and Research Center, which strives to understand the true nature of innovation and how it can benefit society.
Eli Jones, professor of marketing, dean of the Mays School of Business and holder of the Peggy Mays Distinguished Scholar Chair, said he was honored to recognize Mays and his wife, Peggy, who died in November 2020.
(lr) Eli Jones, professor of marketing and former Mays Business School dean; Lowry and Peggy Mays; former Mays School of Business Dean Benton Cockanouger; and associate dean of graduate programs, professor and associate professor of accounting at KPMG Jerry Strausser, were presented with the Mayes Name Award on the evening of the 2017 induction.
Mays Business School
“Lowry and I grew close through our professional relationship, which led to a close personal friendship – and in fact, I became close to the entire family, including Peggy,” Jones said. “I remember Lori and Peggy hosting us in San Antonio over the years for the students who respected our businesses. You have done so much for Mays Business School in so many ways. Nice to meet you Lori. My wife Fern and I send our heartfelt condolences and prayers to the Mays family upon hearing of his passing.
Mays Business School Interim Dean Ricky Griffin said, “We are eternally grateful to Lori and the entire Mays family for their generosity to the Mays Business School over the years. Without him and their support, we would not be where we are today. My deepest condolences to the Mays family on Lori’s passing.
In the year In 2010, the Texas A&M Foundation Board of Trustees honored Mays with the Sterling C. Evans Medal for his philanthropy to the university. And in May, thanks to their generosity to the business school, the Peggy and Lori Mays Impact Award was created and awarded to the couple in 2017. The award continues to honor those who have made an impact on the school by leading by example. and strong leadership.
