BOWLING GREEN, Ky.—Fruit of the Loom creates scholarship opportunities for employees’ dependents at the nearby Western Kentucky University (WKU). The newly established fund is a tribute to former company CEO Rick Medlin who passed away in late 2016. The company officially announced the scholarship at a celebration of Medlin’s life. Berkshire Hathaway chairman Warren Buffet has donated $1 million to establish the fund.
“We are so grateful for Mr. Buffett’s generosity in honoring Rick and his passion for education,” says Melissa Burgess-Taylor, CEO, Fruit of the Loom. “The scholarship will have a lasting impact on employees and their families for years to come.”
The company says it will administer scholarships starting with the fall 2017 semester. A series of roughly 10 one-year scholarships to attend WKU will be awarded over the next 10 years to dependents of Fruit of the Loom employees. Criteria for qualifying includes financial need, academic merit, and “strength of character,” the company says.
For more information on the scholarship, visit wku.academicworks.com.