Gustavus Adolphus College in St. Peter, Minnesota, has announced a $10 million commitment from alumnus Bob "Stick" Peterson ('74) and his wife, Cindy, in support of a renovation and expansion of the school's Nobel Hall of Science and to endow a scholarship fund.
Made in support of the school's ten-year Gustavus Acts Strategic Plan, the gift includes a $5 million dollar-for-dollar challenge fund to encourage support for the Nobel Hall of Science project, a $70 million initiative that will nearly double the size of the college's science building and connect it to the Anderson Theatre, with the goal of spotlighting science, technology, engineering, arts, and, math (STEAM) initiatives and learning on campus. Once the challenge is met, a second $5 million gift will be released to endow a scholarship fund for National Merit Scholars on campus.
Peterson graduated from Gustavus in 1974 with degrees in economics and environmental studies. He went on to earn his MBA in accounting at the University of Southern California and worked for several years in the fields of accounting, private bank management, and venture capital before entering the transportation industry. Since 1991, he has served as president and CEO of Melton Truck Lines in Tulsa, Oklahoma.
"The Petersons' generosity and vision ensure that Gustavus will continue to attract the most talented incoming students," said the school's president, Rebecca M. Bergman, "and provide them with the facilities and support they need to become professional, civic, and scientific leaders who inspire transformational change in the twenty-first century."