The University of Guelph has received a $21 million donation, which is said to be the largest gift in its history.

It was made by Stu and Kim Lang during a ceremony on Wednesday afternoon.

In recognition, the College of Business and Economics has been renamed the Gordon S. Lang School of Business and Economics in honour of Stu Lang’s late father.

Gordon Lang founded Toronto-based CCL, a multi-billion dollar company employs more than 20,000 people across 40 countries.

“What’s important is not how much money [graduates] make but what they accomplish,” Stu Lang said.

“Did they make the world a better place to live? Hopefully, we’re developing business leaders who can make tough decisions because they’re the right decisions.”

The gift, which follows more than $50 million in donations over the years, is being made through the Langs’ Angel Gabriel Foundation.

The university said the funding will help with a number of initiatives and educational efforts, including new academic chairs, various undergraduate and graduate scholarships, and other learning opportunities.

“This landmark gift adds further prestige to our business programs and will help raise the profile of the school and the university to a new national and international audience,” university president Franco Vaccarino said .

Lang said he believes his father might have felt a bit embarrassed about the business school’s new name.

“But he would have patted me on the back said, ‘well done, son,” he said.

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