Late Pitman Co. Exec Leaves $3.99M to University

APPLETON, WI—The university where the late CEO of a printing industry distributor and his future wife first dated is benefitting from the couple's philanthropy. Lawrence University, where Paul Schmidt and his wife, Kay, attended the school's homecoming festivities together in 1935, will receive $3.99 million.

The money is courtesy of the Paul and Katherine Schmidt Trust. It will go toward campus improvements, a scholarship fund named after the couple and Lawrence's endowment.

Paul Schmidt, who died last November at age 92, once served as CEO at Harold F. Pitman Co., a printing industry supplier acquired by Agfa earlier this year. Kay Schmidt died in February 2009 at the age of 91. The Schmidts were married for more than 68 years.