BorgWarner, Manganello Endow U-Mich Engineering Chair

BorgWarner Inc.'s charitable foundation and company chairman Tim Manganello are creating the first endowed department chair within the University of Michigan's College of Engineering.

Their $2 million gift establishes the Tim Manganello/BorgWarner Department Chair of Mechanical Engineering.

The endowment will generate about $100,000 per year in interest to be spent on "high risk but also high-gain" ideas in research and education, according to department chair Kon-Well Wang. The gift is not used for salaries.

Manganello, 62, holds bachelor and masters degrees in mechanical engineering from the UM. He stepped down as BorgWarner's CEO on Jan. 1 and is expected to retire as the company's executive chairman in April.