Cambridge may return Tyco donation

Cambridge University is considering returning a $4m (£2.6m) donation towards a professorship in corporate governance from Tyco International whose chief executive, Dennis Kozlowski, now faces criminal charges in the US.

Cambridge said it had not come under pressure to return the money, but it said it would "have to consider" what to do about the donation, which was made in 2000. At the time Mr Kozlowski, who gave $2m from his own funds, was hailed as a business visionary.

Since then Mr Kozlowski has been accused of using Tyco money to pay for a treasure trove of luxuries, such as a $15,000 dog-shaped umbrella. He could face criminal charges for allegedly looting Tyco's funds as several US law firms are preparing class actions on behalf of Tyco shareholders. Those lawyers may also go after the donation to Cambridge.

Tyco's donation was used by Cambridge's Judge Institute of Management Studies to support the £45,000-a-year chair in corporate governance. Professor Simon Deakin, an expert in labour relations, was appointed to the chair in 2001.

Cambridge said in a statement: "The entire amount of the endowment is, and has been, in the control of the university. Neither Tyco International nor Mr Kozlowski have had any influence on the appointment to the chair and on the programmes led by Professor Deakin."