Donnie Smith, Wife Pledge $3.2M to University of Tennessee Foundation

Donnie Smith, the CEO of Tyson Foods Inc. of Springdale, and his wife Terry are giving $3.2 million to the University of Tennessee Institute of Agriculture.

According to WRCB-TV in Chattanooga, Tenn., the money will establish the Donald and Terry Smith Endowed Chair:

"The new faculty position will help bring science-based agricultural solutions to areas of the world with struggling agricultural practices and economies, as well as provide unique opportunities for the State of Tennessee," said Larry Arrington, Chancellor of the University of Tennessee Institute of Agriculture.

With the global population increasing to more than 9 billion people by 2050 and per-person food consumption also increasing, experts estimate the world will need to produce twice as much food as is produced today. To help meet this challenge, UTIA, known as a top-tier land grant university, has been placing a priority on becoming more internationally involved in academic and research programs in partnership with other U.S. land-grant universities.

The Smiths are UT graduates.