Former Chief of General Electric to Put His Name on an Online M.B.A.

Jack Welch, the former chief executive of General Electric, is buying a stake in a company that is forming a new online university, and the university is putting his name on its M.B.A. program, The Wall Street Journal reports.

The company, Chancellor University System LLC, is converting the former Myers University, a Cleveland institution that went bankrupt, into Chancellor University, according to the Journal. Mr. Welch is paying more than $2-million for a 12-percent stake in the business, it said, and the university will name its M.B.A. program the Jack Welch Institute.

The company’s leading investor is Michael K. Clifford, who led the group that bought Grand Canyon University in 2004 and is also a principal in Bridgepoint Education Inc., which operates Ashford University, in Iowa, and the University of the Rockies, in Colorado.

Mr. Welch does not plan to teach any courses at the institute that will bear his name, but he and his wife, Suzy, are involved in recruiting faculty members and planning the curriculum. —Charles Huckabee