A new endowment will allow the Department of Marketing and Supply Chain Management in the Eli Broad College of Business to add a new top professor to the staff.

The $2 million endowment is called the Hoagland-Metzler Endowed Chair in Purchasing Supply Management at the Eli Broad College of Business.

The money has been raised by more than 100 individuals and companies in the name of professor emeritus John Hoagland.

Richard Metzler, a 1963 MSU graduate, initially wanted to honor his former professor with a junior professorship to bring a young, talented professor to the college. He started the endowment with $250,000.

But department chairman Robert Nason reached out to MSU alumni and gained support for a fully endowed chair. Money was raised for two years.

The endowed chair allows the department to reach out and find highly qualified professors and entice them with a salary from the endowment interest.

"Really, it is extremely helpful in terms of elevating what is already a leading area for us and help us retain our leadership," Nason said. "It's way to get the best of the best."

This will be the fifth endowed chair to research and instruct classes in the Department of Marketing and Supply Chain Management. Nason hopes to have the position filled by January 2005.

Hoagland taught in the business school for almost 40 years and continues research. He is recognized nationally for his work developing indexes to keep track of business trends and economic indicators.