Arkansas State University today announced the largest gift from an individual in the university’s history.

ASU alum Neil Griffin of Kerrville, Texas, gave $10 million. In thanks, the ASU Board of Trustees today approved a request to rename the business college the Neil Griffin College of Business.

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Governor Hutchinson was not at the announcement but provided a letter applauding the news, which was read at the announcement at Reng Student Union Auditorium (the announcement event is ongoing and can be watched by livestream on the ASU Facebook page).

Griffin, originally from northeast Arkansas, graduated from ASU in 1948. A two-time CEO of publicly held corporations, now retired, his career included accounting, banking, investment banking.

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He previously gave $5 million in 2012 to establish the Griffin Scholars Endowment Fund.