In honor of legendary oilman T. Boone Pickens, West Texas A&M University has named Dr. Eric Hoffmann the inaugural T. Boone Pickens Professor of Economics.

The naming was announced this week to recognize Pickens, who passed away this week at the age of 91. The professorship has been put forward by “friends of the Paul and Virginia Engler College of Business and the Paul & Virginia Engler Foundation” to recognize Pickens’ support of the Engler College of Business, WTAMU says.

“Mr. Pickens was one of the first business leaders that was willing to invest in the Engler College of Business and WT. He created one of the first professorships at the University, and hundreds of students have benefited from the scholarship fund he established. We are grateful for his friendship, generosity, and the opportunity to be part of his legacy via the professorships and scholarships,” Dr. Neil Terry, dean of the Engler College of Business, said in a statement.

Hoffmann, a graduate of the University of Kansas, is the first to hold the professorship. This will be the third professorship named for Pickens at the business school, following the existing Pickens Professorship of Business and the Pickens Professorship of Management.