By Matt Clyburn
Carol Ammon was just like any other CCSU student when she graduated with a Biology degree in the spring of 1973. A self-described ‘B’ student, she wanted to succeed in her field and make a difference in the world.
Decades later, Ammon has given back to her alma mater in the hopes that she can help the next generation of leaders to follow in her footsteps. Her $8 million gift to CCSU in December marks the largest endowment in university history.
“I am deeply grateful to CCSU and to the professors who helped me discover my passion for science and my joy for learning,” said Ammon in the December press release. “My experiences at Central…helped establish the foundation for my financial and career success. Now I want to do the same thing for others who want an excellent education.”
According to University spokesman Mark McLaughlin, the endowment will be invested in a portfolio of stocks and bonds to fund the scholarship program that will benefit students from all walks of life. Even during economic downturns, McLaughlin said, the fund will grow to assist “good students needing help.” Rather than dividing the funds and dispersing them over a short period of time, the funds will continue to grow so that it can help students over the next several decades.
Ammon received a Bachelor of Arts in Biology from CCSU in 1973 and went on to obtain her M.B.A. from Adelphi University. After graduating from the Advanced Management Program at Harvard University, she spent 23 years in the pharmaceutical division of E.I. du Pont de Nemours and Company.
After spending time in research and development, finance, manufacturing, sales and marketing, Ammon was appointed president of the generic pharmaceutical business unit of the DuPont Merck Pharmaceutical Company in 1993. Three years later, she was named president of the U.S. Pharmaceuticals Division of DuPont Merck where she was responsible for a significant portion of DuPont Merck’s corporate financing.
In 1997, Ammon led a buyout team in purchasing several pharmaceutical products from DuPont Merck and formed Endo Pharmaceuticals Inc. She served as CEO of the company until 2005 and retired from her position as chairman in 2007.
Ammon’s many contributions to the fields of chemistry and business earned her several awards throughout her career. In 2005, she received the Paradigm Award, a prestigious award for business people in the Philadelphia region. According to the December press release, Ammon was also a recipient of the Woman of Spirit Award from the Greater Delaware Valley Chapter of the National Multiple Sclerosis Society and was named CEO of the Year by the Eastern Technology Council in 2004.
The donation follows a similar gift that Ammon gave in 2008 to fund a scholarship in memory of former CCSU roommate Frances E. Librera from the class of 1973.
Ammon recently gave a gift to Adelphi University to establish the Ruth S. Ammon Chair in Childhood Education in honor of her mother. In an interview with Adelphi University Magazine in 2004, Ammon spoke about her life work and the company she built.
“All of the employees at Endo believe they can make a difference in people’s lives,” Ammon said. “To have a prosperous company where you get to work with talented and fun people and where you can make a difference, it doesn’t get much better than that.”
The Connecticut State University Board of Trustees recognizes alumni and friends for contributions to higher education, and they decided in December to name CCSU’s School of Arts and Sciences after Carol A. Ammon for her generosity and commitment to students.
“Carol Ammon’s passion for learning and success in life serve as an inspiration to all of our students,” President Jack Miller said in December. “Her wonderful generosity will make an important difference in our students’ lives for generations to come.”
