FAYETTEVILLE, Ark. — Arkansas business leader and the former special envoy to the Americas under President Bill Clinton, Thomas F. McLarty III, and his wife, Donna Cochran McLarty of Little Rock, have made a $100,000 gift to the University of Arkansas to create study abroad scholarship opportunities in the Sam M. Walton College of Business.

The Thomas F. and Donna McLarty Endowed Study Abroad Scholarships will create two such scholarships annually. The scholarships will be earmarked for students who would not otherwise have the resources to study abroad.

"This gift from Mack and Donna McLarty to endow study abroad scholarships brings us ever-closer to realizing our vision of a nationally competitive, student-centered research university serving Arkansas and the world," said UA Chancellor John A. White.

"When students choose to study abroad, it broadens their cultural awareness and gives them valuable insight about how to operate in a global economy. Study abroad opens up a world of wonder and possibility for students as they are able to experience the differences and similarities of other countries and cultures. Study abroad is a vital component for many areas of study at the University. We are grateful to Mack and Donna for the support their gift will provide to eligible students," White said.

The McLarty Scholarships will provide students the opportunity to study global business first hand. The Walton College offers course credit for programs in China, Japan, Greece, France and Spain, as well as a NAFTA course in Montreal, Quebec, Canada and in Monterrey, Mexico. Students studying abroad examine why and how companies engage in international business, the effects companies have on both their home and host countries and the policies that influence market behavior. These intensive studies reward students with cultural experiences beyond the classroom.

Mr. McLarty said, "Gaining a world-perspective is one of the most valuable gifts to give a student. We hoped to create such opportunities for students in order to encourage them to travel to places where they could study world politics and to stimulate their interest in international affairs. In my capacity serving the Clinton administration and in my professional life, I know the influence of the international community in shaping the decisions of business, government and cultural organizations. The opportunity for study abroad will help prepare students for these experiences."

Walton College Dean Doyle Z. Williams said, "We are very proud of the Walton College’s study abroad program and are grateful that the McLarty’s have chosen to supplement the program by endowing scholarships for eligible students who wish to pursue such studies. The McLarty’s have experience in the international community and know first-hand the impact that these scholarships will have on the future of our students. Study abroad is one of the best vehicles for shaping well-rounded students with strong cultural and international awareness."

Additionally, students visit government agencies and tour businesses as well as listen to a variety of speakers. Students also have the choice to participate in the semester-long undergraduate exchange programs in ESC Toulouse, France and Spain. These courses are taught in either French or Spanish, while courses in China and Japan are taught in English by University of Arkansas faculty.

Mr. McLarty is a member of the Campaign for the Twenty-First Century Steering Committee, the Executive Committee and is vice chair of the Walton College committee.

The Campaign for the Twenty-First Century — which kicked off on Oct. 26, 2001, — is a six-year effort to raise significant gifts from private sources for the University of Arkansas. Campaign funds are being used to help the University achieve its vision. Campaign funds are being raised for six critical areas of need: endowed faculty positions, scholarship funds, academic programs, University Libraries, construction of new academic facilities and annual giving.

Mr. McLarty, a native of Hope, Ark., is a 1968 honors graduate of the Walton College. As a student, he was president of the student body and voted as the "most outstanding" senior. He is currently chairman and CEO of McLarty Companies Inc. of Little Rock, Ark., and vice chairman of Kissinger McLarty Associates, which provides strategic advisory and advocacy services to U.S. and multinational businesses. McLarty’s road to success began when he founded McLarty Leasing System Inc. of Little Rock in 1969. At the age of 23 he was elected to serve as a member of the Arkansas House of Representatives from 1970 to 1972. He was president/CEO and COO of Arkansas-Louisiana Gas Inc. (Arkla) Gas Division in 1983 and 1984, respectively, and also the chairman of the board/president/CEO of Arkla Inc. in 1984. Between 1993 and 1998, he served as the White House chief of staff, senior advisor to President Clinton, counselor to the president, special envoy for the Americas and as a member of the National Economic Council. McLarty serves as a board member to numerous other companies including Asbury Automotive Group, Acxiom Corporation, Financial Times and the Federal Reserve Board. He played a key role in forging stronger United States relations with Latin American countries.

Mr. McLarty is a frequent public speaker, and he has published numerous articles on U.S. trade and foreign policy. He is the recipient of the Secretary of State’s Distinguished Service Medal; and the highest civilian honors of Argentina, Brazil, Chile, Mexico, Nicaragua, Panama and Venezuela; the Olympic Shield Award; and the Center for the Study of the Presidency Distinguished Service Award. In 2000, he received an honorary degree from the University of Arkansas.

Donna Kay Cochran McLarty earned a BSBA cum laude in 1968 from the Walton College. While attending the U of A, she was president of Chi Omega. Mrs. McLarty participated in the World Conference on Religion and Peace as a member of the International Council of Trustees. She is a member of the Women’s Leadership Conference of the Americas and is a founding member and currently serves as vice chairman of Vital Voices Global Partnership. In Little Rock, Mrs. McLarty was very active in community affairs and served as board chair for the Centers for Youth and Families and as a member of the Little Rock Airport Commission. She is a recipient of the Arkansas Community Service Award.

The McLartys are members of the UA 2010 Commission, the 92-member commission comprised of leaders from business, government and academe to prepare a report making the case for the benefits that will accrue to the state from building the U of A into a nationally competitive research university. They have been married for 33 years and have two sons, Mark and Franklin.

The Walton College seeks to raise $100 million through the Campaign effort.

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