By  on December 16, 2010

Sidney Kimmel, founder of The Jones Group Inc., will move to the post of non-executive chairman of the company from his current post as executive chairman on Jan. 1, as Jones completes its 40th year in business.

To commemorate Kimmel’s service, the company will donate $6 million to the Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins in Baltimore and $2 million to establish a trust for post-secondary educational assistance for qualifying children of company personnel. The trust will be administered by an independent third party.

Kimmel established the Sidney Kimmel Foundation in 1993. The philanthropic group and its cancer research subsidiary since have donated more than $550 million to cancer research.

Jones changed its name from The Jones Apparel Group in October. Kimmel founded the company as part of W.R. Grace and purchased it in 1975, taking it public in 1990. He founded Sidney Kimmel Entertainment, a film production company, in 2004, two years after stepping down as Jones’ chief executive officer.

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