Shaping the Future Donors Report 2013/2014 Contents

2 Advancing our school together 46 Loyal donors: constant partners in building our future 4 2013/2014: financial overview of the school 51 A promise for the future: legacy commitments 6 Empowering INSEAD to advance: new gifts and pledges in 2013/2014 52 Class results at a glance

7 Where did donors direct their gifts 56 Donor honour roll in 2013/2014? Circle of Patrons Salamander Holders Alumni and friends: partners in 8 Centres of Excellence INSEAD’s evolution Major Research & Teaching Funds 10 Advancing INSEAD: alumni gifts in Chairs 2013/2014 Fellowships Endowed Scholarships 11 Where did alumni direct their gifts Named Facilities in 2013/2014? Organisational Giving: Corporations, Foundations, Special Entities 12 Alumni support fuels INSEAD’s Corporate Associate Programme advancement Taxe d’Apprentissage 16 Ensuring excellence and diversity in Individual Giving: Alumni, the classroom: student financial aid Friends & MBA Students

28 Driving research and learning innovations: gifts to research

36 Powering a flexible, agile school: unrestricted gifts in current funds and to the endowment

42 Developing state-of-the-art facilities: Asia campus expansion and Europe campus renovation 4 INSEAD Donors Report 2013/2014 5 Advancing our school together

Dear donors,

INSEAD’s story is truly remarkable. The vision student life, our donors have helped us to of our founders — to be international, diverse, attract and retain talent, build our unique entrepreneurial and independent — set us on diversity and expand our facilities worldwide. a different path from other business schools. I am delighted to report that donor investment Throughout our 55-year history we have in 2013/2014 increased significantly and introduced innovations that have disrupted propelled us beyond our Asia campus existing concepts of management education. expansion campaign target. The new We created the first international school, the Leadership Development Centre will provide first one-year MBA programme and the first state-of-the-art facilities for INSEAD to extend company-specific executive programme. our portfolio of innovative programmes for Today we are the first and only school to today’s business leaders. Targeted gifts gave operate seamlessly on campuses in three new stimulus to the fusion of creativity and distinct locations. business as well as to Family Business and Like all new ventures, ours was fraught with the European Competitiveness Initiative. challenges. We began with no endowment, The Dean’s Annual Fund provided a boost to no campus and no permanent faculty. But our the Corporate Governance Initiative and the founders had a vision and the determination Initiative for Learning Innovation and Teaching to succeed. In the early years of INSEAD Excellence, as well as much-needed resources they enlisted among our supporters key for the Career Development Centre. organisations like the Paris Chamber of Our goal in the years ahead is to establish Commerce, Royal Dutch Shell, IBM and the INSEAD as the most innovative and impactful Ford Foundation. Over time, other corporate business school. In a globalised, fast-changing, friends, foundations and government entities digitally connected world, the challenges we followed. Most importantly, as the school grew face are complex and competition is tough. and our alumni were becoming more and But we are confident that together we can more successful in their professional life, they meet these challenges. With your help, we can stepped forward to invest in the school and reach our highest aspirations. Together we secure its success. They gave their time, shared will build INSEAD as the business school for their expertise and invested financial resources the future and we will deliver on our mission to build what today we are proud to call The to develop the future leaders, managers, and Business School for the World. entrepreneurs who through their skills and As an independent school, without a university innovation change the world for the better. affiliation and reliant on programme fees to Thank you for investing in the future of INSEAD. meet running costs, the support of our donors is critical in ensuring excellence in everything we do and continuous innovation through our research and teaching. Every gift, large and small, is an investment in the future of the school. Every gift is vital to ensure that the school grows, innovates and enhances Ilian Mihov its distinctive identity. With contributions to Dean of INSEAD scholarships, research funds, facilities and 6 INSEAD Donors Report 2013/2014 7 2013/2014: financial overview of the school

INSEAD’s status as an independent, INSEAD’s endowment Endowment at market value Total revenues in 2013/2014 private institution differentiates us from (€ millions) many schools that are part of a university Over the years, donors have helped INSEAD to establish a sizeable endowment. At the close or benefit from regular state funding. We 175 are also non-profit, which means that any of the financial year in 2014, the market value of €200.9m the endowment stood at €174m. Managed by surplus is reinvested in the school. These 150 174.2

characteristics shape how we operate and the Endowment Management Committee and 161.0 work. Striving for excellence is a continuous advised by Partners Capital, the performance 125 151.5 142.3 process with us as it is critically linked to rate was at 10.8%, an increase over 7% in 135.6 100 our financial strength. Though tuition fees the previous year. As in all years, the annual 105.9 distribution was 4% of the average endowment 105.1 serve to meet the running costs of the 75 97.2 school, philanthropic aid is vital to plan new value, which translated into a spending amount of €6.2m. We sincerely thank all donors who are 50 75.4

ventures and build future capabilities. 64.9

supporting the school’s progress in this way. 55.7 49.7

The financial year 2013/2014 closed with 25 42.5 solid results. Revenues from degree and While our endowment is growing, it still remains executive education programmes saw a a fraction of those in many US schools. Given 0 6% increase over the previous year and its importance in the long-term development of INSEAD, building our endowment is a major Aug ‘11 Aug ‘13 Aug ‘14 Aug ‘12 Aug ‘10 Aug ‘07 Aug ‘02 Aug ‘03 Aug ‘09 Aug ‘06Aug Aug ‘05 Aug Aug ‘08 contributed to 86% of the total income, Aug ‘04 which amounted to €200 million. Gifts priority of the school and we invite our donors during the year, coupled with yields from to continue their support in strengthening it. INSEAD’s endowment and earnings from contract research, contributed to 8% of INSEAD’s total revenues. Donor generosity Allocation of spending from 2014 revenue 2014 expenditure provided INSEAD with essential resources endowment in 2013/2014 to strengthen our competitive edge and our thought leadership. INSEAD’s physical assets expanded with a major extension (10,000m²) to our Asia campus in 6% Singapore, thanks in large part to the 8% 29% generosity of our donors. 31% 39% 42% 44%

44% 19% 11% 27%

Key Key Key

Chairs Research Degree programmes Gifts, endowment Faculty and research Degree and Scholarships Other Executive education yield and contract Facilities, IT and Executive Education programmes research support functions programmes Other 8 INSEAD Donors Report 2013/2014 9 Empowering INSEAD to advance: Where did donors direct new gifts and pledges in 2013/2014 their gifts in 2013/2014?

Collectively you gave

€304,171 €11,123,636 €206,554 €264,658

€312,404 of which, alumni gave Given in current funds €4,264,375 €4,941,304 €653,829

& corporations, foundations & friends Given in endowment €6,859,261 €1,425,321 €745,458 €4,520,874

Given in capital Grand total €4,757,011 €11,123,636

€2,121,079

Increase in gifts over the last four years in € million

€1,994,609 12 Key 10 2013/2014 8 2012/2013 2011/2012 6 2010/2011 Key 4

2 Asia campus expansion Campus facilities Research Centre for Economic Growth in Abu Dhabi Scholarship and financial aid Endowment (general) Dean’s annual fund Gifts for specific projects and events Jan Apr Oct Feb Mar July Dec Nov May Aug Sept June Unrestricted gifts 10 INSEAD Donors Report 2013/2014 11 Alumni and friends: partners in INSEAD’s evolution

Dear INSEAD donor,

Thank you for the support that you have given recognition programme for all donors — both to INSEAD, The Business School for the World. alumni and non-alumni — to express our appreciation fully. As a global donor community, the reasons why you support INSEAD vary widely. In keeping I also wish to thank the thousands of volunteers with your unique motivation and expectations, who give their valuable time and expertise our team works to ensure that the impact you in support of the school’s activities. My want to create and the engagement you want special thanks go to the Chairman of the with the school is realised in full. INSEAD Alumni Fund Leonidas Los and the global directors and trustees of the IAF Motivations to give to INSEAD are as unique — your help has been vital to our efforts. as the person making the decision to provide I would like to thank the INSEAD Alumni support. Your reasons range from giving back Association President Sven Kado, the National to the school ‘where I had the best experience Associations, Global Clubs and National of my life’, to providing opportunities to and International Councils for their amazing talented men and women, honouring a loved support. To the members of the Board and the one, expressing a deep belief in the power of Advisory Council I offer my gratitude for your INSEAD’s education to make a change and counsel and leadership — it is a privilege to partnering with the school to push the frontiers work with such an esteemed group of leaders of knowledge. Singular as each motive may be, from around the world. it is very gratifying to witness the trust placed in the school and the satisfaction of doing Under Dean Ilian Mihov’s inspiring leadership, something significant through INSEAD. we will continue to work together to raise the excellence, innovation and relevance of our I am delighted to report that in 2013/2014 the school to a new level. These are exciting total of your gifts and pledges increased by times to be part of the INSEAD donor 6% on the previous year. The impact of your community. I thank you for offering your gifts is immeasurable. The following pages unique motivation and contributions to our are intended to give you a sense of how your school’s future success. gifts are translating into building the school’s reputation, extending our global learning community and forging a strong future.

In our goal to bring you closer to INSEAD, we are increasing engagement opportunities for all donors. Alumni, individual friends and corporations will have further access to the Joanne Shoveller school’s global talent and latest research. Associate Dean The Corporate Associate Programme has Advancement and Alumni Relations been revamped with additional opportunities and improved visibility. We will enhance our 12 INSEAD Donors Report 2013/2014 13 Advancing INSEAD: Where did alumni direct alumni gifts in 2013/2014 their gifts in 2013/2014?

Total alumni gifts and pledges Total number of alumni IAF results: donors new records

€4,264,375 2,122 21% increase in new gifts and €1,919,632 473 162 76 60 4 pledges over 2012/2013 Bronze Silver Gold Platinum Millennium Salamander Salamander Salamander Salamander Salamander holders holders holders holders holders 19 % increase in 2,290 176 775 alumni donors Green Pin Blue Pin Black Pin holders holders holders €871,106

IAF Chairman IAF Trustees Leonidas T. Los MBA’75 Virginia Brumby MBA’09J, Singapore €693,360 Alexandre Dias da Cunha MBA’91D, Portugal IAF Global Directors Nikolaos Fotilas MBA’07J, UAE Nourdin Hadj-Larbi MBA’08D, Singapore Gérard Despinoy MBA’95J, France €312,114 Dorothée Deuring MBA’96D, Switzerland Christophe Hamal MBA’08D, Belgium Paul Huysmans MBA’05J, UK Bettina Langenberg IEP’97Oct, Germany €206,554 Caroline van Scheltinga MBA’88J, USA Roberto Italia MBA’94J, Italy Alexandra von Schroeter MBA’87J, Canada Youssef Kamel YMP’00S, Lebanon €195,304 MBA’01D, Belgium Frederic Lammens MBA’09J, Belgium Paolo Senes €66,305 Cintia Tavella Gomez MBA’07D, Singapore Miguel Moresco MBA’01D, Australia Yasemin Okur EMBA’13D, Singapore Laura Qiu EMBA’11D, China Diederik van Rappard MBA’99J, Key The Netherlands Brigitte Reverdin MBA’81J, Switzerland Scholarships & financial aid Endowment (general) Almir Salimov MBA’09D, Russian Federation Research Asia campus expansion Dean’s annual fund Gifts for specific projects and events Facilities 14 INSEAD Donors Report 2013/2014 15 Alumni support fuels INSEAD’s advancement

Dear fellow alumni and friends, Furthermore, I would like to thank the INSEAD Alumni Association President Sven Kado, Our pride in our school and belief in its MBA’72, for his continued passion and service mission are manifested increasingly through to the school’s alumni community. wider alumni support. This is a promising indication of maturing awareness of the Our work and the enjoyment we draw resources our school needs to maintain its from it would not be possible without the leading position in the world. Dean Ilian encouragement and commitment of Mihov’s clear and constant message that Joanne Shoveller, Associate Dean, fundraising is critical to the future of our Advancement & Alumni Relations, and her school is inspiring new engagement from team. They are indeed integral to our our community and for this we are most efforts to increase alumni support and to grateful to him. serve the alumni community.

There were 312 new alumni donors last year, Building INSEAD’s future requires teamwork, an increase of 19% compared to 2012/2013. partnership and alumni uniting to support Gifts and pledges below €50,000 rose by 21% the school. Your participation at every level over the same period, indicating that alumni counts and every gift, whatever the amount, participated at all levels. is a gift that enables the school to take a step forward. So I ask you to remember INSEAD On behalf of the IAF trustees, I warmly in your annual giving. Remember also to thank you for your engagement. Your share your enthusiasm for INSEAD with fellow collective gifts are providing much-needed alumni. Together we can take INSEAD to even funds to invest in the future and build quality greater heights. in every part of the school’s activities. They are helping our school to compete with With gratitude and best wishes, peer institutions and to preserve INSEAD’s exacting standards, reflected in the fact that an INSEAD degree continues to be one of the most prized in the world.

I would also like to take this opportunity to Leonidas T. Los, MBA’75 thank our fundraising volunteers for their Chairman dedication to this important activity and INSEAD Alumni Fund in particular the Board of the IAF. They are exemplary in giving in kind and selfless in their service to the INSEAD community. I am delighted to welcome Caroline van Scheltinga, MBA’88J, who joins the IAF Board as a Global Director. Her experience will prove invaluable. 16 INSEAD Donors Report 2013/2014 17

Scholarships are a powerful means to attract and retain the best candidates to our programmes and enhance diversity. 18 INSEAD Donors Report 2013/2014 Meet the scholars

Ensuring excellence and diversity in My time at INSEAD will enable me to contribute to the classroom: student financial aid the economic development of my country “I took a degree in international Thank you to all donors who gave to development at a private liberal arts INSEAD Alumni Fund college in the USA before joining a scholarships and the INSEAD Loan Diversity Scholarships legal services firm in Myanmar where Fund. Your support is helping INSEAD The Class of ’68 was the first class to study I have been working as a business to attract the brightest students and on the Fontainebleau campus. Led by fund researcher and corporate affairs sustain true diversity in our classes. chairs Edward Mork, Anthony Simon, Angelo manager for the last two years. My Abdela, Duncan Payne and Jürgen Zech, work has exposed me to a variety of Outright gifts during the year they raised more than €102,000 for the industries and business issues in this and yield from past endowed MBA’68 IAF Diversity Scholarship, the highest rapidly emerging market as I help gifts enabled the school to award amount as well as the highest percentage of foreign investors understand the local business and policy environment for scholarships to 220 students in the participation for a 45-year anniversary class their market entry projects. classes of ‘15J and D, that is 21% of gift. The school thanks François Vachey for his significant gift to this initiative. The first the combined classes. We are I decided to take an MBA degree in scholarship was awarded to a Taiwanese pleased to report that the average order to broaden my knowledge of student in the class of ’15J. current international business issues scholarship amount rose from The Class of ’69, led by Goran Elfverson and and to deepen my business knowledge €12,600 to €13,600 this year. The Gerald Kempf and also celebrating their through academic and analytical work. INSEAD Loan Fund for MBA students 45-year anniversary, were close contenders I chose INSEAD because of the school’s grew by more than €200,000 thanks for the highest amount, raising more than distinguished faculty, its academically to alumni support, thus providing €100,000 for the MBA’69 IAF Diversity rigorous programme, and the diversity of the student population. I strongly more deserving students with the Scholarship. The school thanks Christoph believe that the knowledge I acquire opportunity to join INSEAD. Tribull for his significant contribution. The first scholarship from this class gift will be and networks I form during my time While the donor honour roll that given to a student from the class of ’15D. at INSEAD will enhance my ability to contribute to Myanmar’s future concludes this report gratefully The Class of MBA’79 earmarked €40,000 economic progress. acknowledges the support of from their class gift towards the MBA’79 IAF all donors in the year, we would Diversity Scholarship. The school would like to I am extremely grateful for the financial support of the IAF Diversity Scholarship, especially like to recognise the thank Findlay Black for his generous support. which has enabled me to attend the following classes, individuals and The first award has been made to an Indian student from the class of ’15J. INSEAD MBA programme.” corporate donors. The IAF Diversity Scholarships received significant funds from anniversary gifts from the classes of ’63, ’78, ’83J, ’88D and the classes of ’09J and ’09D. The school thanks Piet van Waeyenberge, MBA’63, Egbert IAF Diversity Willam, MBA’78 and John Singer, MBA’78, for their generous gifts. The ’09J and ’09D Khant Khant Scholarships: More classes, celebrating their five-year anniversary, achieved exemplary participation rates for than 500 students have their fundraising project. Kyaw

benefited from these MBA’15J scholarships since 2001 Burmese IAF Diversity Scholarship recipient 21

Good things happen if you try hard “My father died when I was a small child and consequently my mother had to work hard to bring me up. As a result,

Meet the scholars I had to become independent earlier then my peers. I went and came back The INSEAD Alumni from school alone and my mother almost Association Scholarship never checked my homework. I knew that I would never let her down, so I did my The Class of ’74, led by Eberhard Crain, best and studied well. I understood very raised €90,000 towards the INSEAD Alumni early that we were a team and a team Association (IAA) Scholarship Fund. The could succeed only if each member did school is pleased to acknowledge Philippe his part of the job well. I finished school, Houzé for his major contribution to the got top marks in everything and decided scholarship in the year. that I would look for work in a bank.

I studied economics and law at university The INSEAD Loan Fund and negotiated part-time work in a bank. Surpassing their previous fundraising results, I needed a flexible study schedule so I the Class of ’88J, under the leadership of proposed a deal with the university dean Wouter Jongepier, raised €220,000 for the — if my grades went down the deal would INSEAD Loan Fund — a critical financing be off. He accepted it. vehicle that the school is developing to help students in countries where access to fair loans By 22, I was a branch manager and by 24 is particularly difficult. Their record-breaking at the head office of the local subsidiary results, for a 25-year anniversary class gift, of Commerzbank. This brought me into owed much to the matching gifts from contact with a German management Henry Engelhardt and David Stevens. consulting firm and the local director asked me to join them. During the last three years the projects took me to Austria, Russia and Germany. Soon I understood that if I wanted to try and find a job outside Ukraine I would need a degree from a well-known school. I decided that I needed an MBA.

When I was offered my place at INSEAD, I was unsure whether to accept it as the “To the IAA Scholarship donors I would Denys money was a big worry. I applied for all like to say thank you, not only for the the scholarships I could. money but also for believing in me.” Bilodid To the IAA Scholarship donors I would like to say thank you, not only for the MBA’15J money but also for believing in me. The Denys Bilodid Ukrainian scholarship gave me the feeling that INSEAD Alumni Association (IAA) good things can happen if you try hard. Scholarship recipient Most of all I am grateful for this chance; I will not let them down.” 22 INSEAD Donors Report 2013/2014 Meet the scholars

Singapore in my heart “I was born in Budapest, Hungary and barely left the country until I had a chance to go to Switzerland for a semester in my third year at university. That’s when things changed for me. I met people from other INSEAD would like to recognise the nationalities, my eyes were opened and I In memory of realised what a small portion of the world Antonio Borges following donors for their substantial gifts to the Antonio Borges Endowed Scholarship: I had experienced. I decided I wanted to In the summer of 2013, our former dean, have a more international life. Antonio Borges, sadly passed away. Antonio Michael Butt MBA’67 I studied finance and international was the architect of our expansion in Asia, MBA’87J management and completed two which today is recognised as one of the key Paulo Cartucho Pereira Philippe and Martine 6-month internships in Singapore and differentiators of INSEAD. He was also a Seoul. I returned to Hungary for a post passionate advocate of the need to build a Haspeslagh-Van den Poel with Citibank but cost restrictions meant strong research culture to complement our Samuel Laidlaw MBA’81 that the international mobility I had high teaching quality. Alumni and colleagues Andreas Lehmann MBA’83J been promised didn’t materialise. Even expressed their desire to honour his memory Charles Manby MBA’89D though it was from the best university and, with the consent of his family, the Antonio George Muller MBA’65 in the country, my degree wasn’t well Borges Endowed Scholarship was established. recognised outside Hungary, so applying James Pike MBA’84J The first major donation came in January 2014 for international positions was difficult. I Michael Pragnell MBA’72 from a generous alumnus who transferred the felt any other move would be a step back, endowed fund that he had created in 2008 so I applied to INSEAD, because it has a to the Antonio Borges Endowed Scholarship. global reputation, it is international and Subsequently, the scholarship, which is well known for its diversity. reserved for candidates who demonstrate Without my scholarship I could not have outstanding academic achievements taken up my place. My partner left her job and enhance class diversity, has received to come with me and because Hungarian additional funding from Antonio’s friends, salaries are generally low, we would colleagues and INSEAD alumni. “I warmly applaud have been unable to meet the fees, even The school thanks all donors to the those alumni who have though we always lived quite frugally. scholarship, particularly Paulo Cartucho Scholarships are so, so important. They Pereira, MBA’87J, and Charles Manby, undertaken to double transform the experience from being a MBA’89D, who provided matching gifts. struggle — constantly worrying about Thanks to tribute events in both Portugal and donations. It is inspiring making ends meet — into peace of mind. the UK, substantial funds were raised and to have generous peer Psychologically and economically, it makes a huge difference. the scholarship’s endowment now stands at alumni support our €500,000. The yield will enable the school to My dream after INSEAD is to stay in make an award to a student in each class. personal acts of tribute. Asia, specifically in Singapore, a country Andras I love very much. The culture there is It is equally gratifying to very similar to that of INSEAD: people Antonio Borges work hard and play hard. I would like to (1949 – 2013) know that the impact of the Vastag work in corporate financial management, scholarship will increase preferably in the technology sector. I with each participation.” MBA’15J enjoy understanding the big picture Hungarian and I feel that once you understand a Antonio Borges company’s finances, you can understand Andreas Lehmann Scholarship recipient its strategy, strengths and weaknesses.” MBA’83J 24 INSEAD Donors Report 2013/2014 Meet the scholars

Reaching for the sky “I’m from a military family so we moved from one town to another in Russia until my parents settled in Moscow, where I went to university. I took economics, international Louis Vuitton Scholarship Russian Alumni Scholarship management and marketing and graduated at the beginning of 2009, Louis Vuitton made a new gift to their scholarship, The Russian Alumni Scholarship was created right in the middle of the financial established in 2006. The scholarship provides in 2010 by a group of Russian alumni led by crisis. I applied to every open position significant support to Chinese or Indian MBA Alexei Beltyukov, MBA’97D, with the purpose I could find. I was lucky to get an offer candidates. To date, 14 MBA students have of supporting INSEAD’s efforts to attract top from Procter & Gamble in market benefited from this scholarship. talent from Russia to the MBA programme. strategy and planning. Further notable support for the scholarship in 2013/2014 came from: From there I moved to Anheuser- L’Oréal Scholarship Busch InBev as a management trainee; then I was headhunted L’Oréal has been investing in INSEAD Alexei Beltyukov and by Unilever and spent three years scholarships for over 16 years. In 2013/2014 Olesya Chikunova MBA’97D in the company. the company made a new gift for the L’Oréal Denis Bugrov MBA’00D Scholarship, which supports students I wanted a deeper understanding of Sergey Grechishkin MBA’97D demonstrating creativity, innovation and teamwork and developing people, so entrepreneurial spirit. We are delighted to Vladimir Yakushev MBA’97D I decided to do an MBA. I wanted an announce that L’Oréal has pledged to increase international experience, to explore the scholarship amount in 2015. the booming regions of Asia and the Middle East. INSEAD fitted perfectly.

Mid-term, I would like to gain skills in management consulting. But my ultimate dream is to work in aviation. I love the whole travel experience. I have taken flying lessons: they were scary but great! I wanted to experience flying as both a passenger and a pilot. Long-term, my aim is to work for one of the top airlines and impact the passenger experience at airports and in-flight. I’m already in touch with INSEAD classmates and alumni who know the airlines industry. “It was crucial for me to get this INSEAD is the only school I applied Yulia scholarship. I was in a meeting to. But on a Russian salary I was not able to save much. I applied when the ‘Congratulations’ message for a loan but was initially refused. Andreeva showed up on my cell phone. I was So, it was crucial for me to get this scholarship. I was in a meeting when MBA’15J so happy I could hardly sit through the ‘Congratulations’ message Russian showed up on my cell phone. I was so Russian Alumni till the end of the meeting.” happy I could hardly sit through till the Scholarship recipient end of the meeting. That same day I reapplied for my loan and in one week Yulia Andreeva it was granted. It was wonderful!” Meet the scholars 27 ‘15J class ‘15D class Scholarship Robin Hood Robin Robin Hood Robin Scholarship for Scholarship for 52% 83% Participation Amount €10,643 €24,000

’14J ’14D MBA MBA Class The Robin HoodThe Scholarship Robin studentsMBA campus on continued their great tradition of fundraising for a scholarship to be awarded in the following classes. We are delighted to announce the results below. INSEAD thanks the MBA students, Advanced Management Programme participants, faculty and staff for their generosity. , made a generous gift to the , MBA’02D, and Alan Philipp , MBA’02D, Scholarship

I applied only to INSEAD to only I applied my for MBA is so international, it because so multicultural has and an it and soul. entrepreneurial it I visited place.” my was school, knew that it ‘my’ Anne Sveaass Norway Scholarship BCG Norway Norway three by Scholarship. Created in 2010 corporate members of the INSEAD Norway Council, the scholarship is intended to spur the development of future Norwegian business leaders with international an orientation. Communication the on scholarship strengthenedwas advertisements through by Schibsted, who renewed their support during the year. Jewish Ades David made significant gifts towards the MBA’67, Jewish Scholarship. This scholarship has been running for years many and we are grateful for the continued support it has received. “ Follow your heart — you will — you your heart Follow you do what at be good “I grew up inOslo and at first started to study law but I missed fact-based subjects, chemistry.like So I later applied to study for a Master of Pharmacy and eventually specialised in immunology. My course took me to Mali to interview healers who were using a particular plant to treat malaria. This led to a collaborative study between and Oslo Bamako into the properties of this plant. While I was in Mali, a lot of things were notworking in the rural areas. Back in Oslo I started a student group for Pharmacists which Without Borders (PWB), ran collaborative projects with pharmacy students in Mali. PWB supported is an NGO, Norwegianby pharmacy chains and fundraising. After two years, which by time I was working in sales for Merck, I became chair of PWB as it extended its reach into Zambia and Ghana. PWB works with local pharmacists to improve production methods, logistics — communications, resource allocation, supply, transport — and treatment delivery methods. In Zambia I saw that a major challenge for medicine and healthcare is the lack of facilities and education. There are not enough pharmacy professors in the universities, so students to leave study abroad and either do not return or go into the private sector. In particular we looked into the preparation of cancer medicine in hospitals, which was done in a manner unsafe for both manufacturer and patient. Looking to the future, I want to be part of the movement to take medicine and healthcare into other emerging markets. I had expertise in pharmaceuticals but I needed the tools business to make decisions and be able to move on to managerial positions. I applied onlyto INSEAD for MBA because my it is so international, so multicultural and it has an entrepreneurial soul. I visited it and knew that it was ‘my’ school, place. my I had to self-financemy course, so a scholarship was critical. The I received day the scholarship was a very happy day.”

Norway Scholarship recipient MBA’15J Norwegian Sveaass Anne Meet the scholars the Meet 28 INSEAD Donors Report 2013/2014 29

INSEAD’s reputation as a leading business school is due to its academic excellence and thought leadership. 30 INSEAD Donors Report 2013/2014

Driving research and learning “The Creative-Business Learning Platform sponsored by the innovations: gifts to research generous gift of Gary Wang has been a crucial catalyst to help us re-imagine how to teach creative thinking in our MBA programme. We are transforming the teaching To be a leader in management Creativity and business of creativity into a hands- education implies not only excellence We thank Gary Wang, MBA’02J, who made on learning experience that in teaching and continuous a leadership gift to establish the INSEAD combines theory in creativity with pedagogical innovation, but also Creativity-Business Platform. The gift enables practice in design. This requires requires our school to be at the a major advance in innovation, building on the configuration of new physical spaces, the use of novel materials forefront of knowledge creation. the endowed fund previously established by Heinrich Baumann, MBA’72, and his wife and tools and the development of Today, INSEAD has become a leader Esther Baumann-Steiner. The Platform will innovative and relevant content. in academic research. True to our bring together business managers and We are working with faculty values we strive to publish academic industrial designers, enabling research in and design students from the articles that are not only rigorous the emergent field of experience innovation Art Center College of Design but also relevant for practitioners. and new content for classes on creativity (Pasadena, California) as well as Impactful research, however, management. industry partners from various requires time and financial resources. Family enterprises design firms to develop novel INSEAD is fortunate to have alumni learning experiences that integrate creative and business and corporate friends who partner Wendel made a new gift to the Wendel International Centre for Family Enterprise. thinking for successful innovation with the school in this core activity. Wendel’s support since 1997 has been management in organisations. Their gifts have played a key role in essential in advancing INSEAD’s knowledge Our current efforts are building INSEAD’s exponentially increasing creation in family enterprises. Their new upon the 10-year collaboration reputation in research and teaching. gift will help underwrite and maintain the with the Art Center College of activities of the Wendel International Centre at Design supported by the INSEAD. This includes the organisation of all Heinrich and Esther Baumann- The academic year 2013/2014 INSEAD events, presentations and educational Steiner Endowed Fund for brought many accolades: from top programmes that benefit family firms across Creativity and Business.” positions in academic rankings and the globe. Manuel Sosa case surveys to prestigious research Associate Professor of awards. Donor trust and generosity The school is also pleased to acknowledge Technology and Operations continued, providing critical means Werner Baier, MBA’69, who made a significant Management for faculty to advance knowledge contribution to the Family Business area. and learning. Centre for Economic Growth The Consolidated Contractors Company (CCC) and Crescent Petroleum have each made generous contributions to help launch the Centre for Economic Growth at INSEAD’s Abu Dhabi campus. The Centre will carry out research on the key economic topics impacting the MENA region and encourage private sector engagement in challenges such as youth unemployment, job creation and sustainable and inclusive economic growth. 33 In the spotlight

Entrepreneur Gary Wang is something of a After graduating from INSEAD, he became polymath in the media industry. A novelist, corporate business director at the German Gary screenwriter, ballet librettist and playwright media group Bertelsmann in China before who set up the phenomenally successful founding Tudou in 2005. Gary saw Tudou Wang video-sharing website Tudou, Gary has as a way to “bridge the huge gap between made a S$1 million donation to the new those people who have creative ideas and MBA’02J INSEAD Creativity-Business Platform. talent, but cannot get their work to the Founder and CEO “Creativity is a critical power in making audience” because of the restrictions placed Light Chaser Animation Studios sustainable business success,” he explains. on television content in China. Within six “In the past decade, we’ve seen innovation years, the number of registered Tudou users evolving in an accelerated manner and with had grown to over 90 million. In 2012 Tudou a broader horizon. Convergence is happening merged with its largest rival in China and was everywhere, particularly around art and valued at US$1.2 billion. technology. INSEAD has been strong in Gary’s current project is the Beijing-based innovation and I hope to further strengthen Light Chaser Animation Studios, which it in this area by supporting this practical produces animated films. This will put him creativity platform. We hope this initiative head-to-head with Hollywood studios keen to will foster creative business ideas and, capture the booming Chinese movie market. eventually, a mindset that is always open to But Gary is not afraid to take on the big players new possibilities.” with the new creative team he has recruited Gary Wang was born in Fujian in southeast from the US as well as China: “There are very China in 1973. Initially an admittedly few animation movies that Chinese people can indifferent student, his attitude changed when call their own. It will take time, but this could he moved to New York in 1993 and took a be potentially bigger than Tudou.” degree in international business at the College of Staten Island. He described his time in the US as “eye-opening”. “I realised that there are people with very different ways of thinking.” He was particularly inspired by his English professor at Staten Island, who gave him credit for the original ideas in his work rather than penalising him for the grammatical errors in his newly learned English. Gary went on to study computer science at Johns Hopkins University in Baltimore, then came to INSEAD to take his MBA.

“Creativity is a critical power in making sustainable business success.” 34 INSEAD Donors Report 2013/2014 35

Corporate social The Apax Foundation made a major new gift In memory of How your gift to responsibility towards social entrepreneurship scholarships Dominique Héau INSEAD translates and research. The Isaac Dreyfus-Bernheim Stiftung, a new Eminent professor Dominique Héau, deeply into impact across the foundation created by Dreyfus Sons & Co. The school would also like to recognise respected and loved by his colleagues and world: The story of Chris Broad, MBA’88D, for his gift towards Ltd, Banquiers, made a leadership gift to students, sadly passed away in the summer Apax Foundation’s gifts the school’s Corporate Social Responsibility Social Entrepreneurship. of 2013. To honour his immense contribution Research Fund, critical to continued research to the school, a special memorial fund Since 2008, the Apax Foundation’s in the area. INSEAD thanks the bank’s Vice- Enhancing executive was created. Gifts will be directed to the support for the INSEAD Social Chairman Pierre Dreyfus, MBA’76, for his education programmes Dominique Héau Award for Pedagogical Entrepreneurship Initiative has enabled invaluable role in this support. Innovation and Mentoring and will also enable exceptional leaders in the field from INSEAD Board member Sandy Ogg made a us to name a meeting room in the East Wing around the world to join INSEAD’s generous donation to fund a survey that will Social Entrepreneurship Programme INSEAD European of the Europe campus after him. Special help our executive education programmes to thanks go to Professors Peter Zemsky and (ISEP). The ISEP Scholarship Fund Competitiveness reach out to new markets. Besides enhancing Javier Gimeno for leading the initiative and helps bridge the financial gap faced Initiative (IECI) INSEAD’s reputation in this sector, the to Dominique’s colleagues, friends, EMBA by many who come from low-income donation will also help us to better understand alumni and executive education participants areas and seek to address neglected Lionel Sauvage, MBA’87J, made a major pledge corporate needs — a founding commitment of who generously expressed their support. but important social issues in their to the INSEAD European Competitiveness the school. countries. The fund has enabled over Initiative to help support the running costs of 100 INSEAD participants to gain the the Initiative as its activities gain momentum. Research on emerging Dominique Héau top-level strategy, management and innovation knowledge and frameworks Thierry Breton, a close friend of the school, economies (1943 – 2013) made a generous gift facilitated by the needed to develop and scale practical Bank of America to support case writing and Luis Freitas de Oliveira, MBA’93D, made solutions. In addition, Apax Foundation data access at the IECI. a generous gift to support research with selects two outstanding leaders in the a focus on emerging economies. The gift field each year for a full scholarship to Andreas Jacobs, MBA’90D, and presently made to the PhD programme, highlights the programme. Chairman of the INSEAD Board, made a both a key research area for the school and The funding from Apax has also significant gift in support of the Initiative’s the importance of our doctoral students in allowed the school to develop a outreach. advancing INSEAD’s thought leadership. strong research agenda in areas such as scaling social innovations and Entrepreneurship and Learning innovation corporate social entrepreneurship. social entrepreneurship Finally, it has enabled the development The Doriot Fund for Innovation and Excellence of partnerships that have taken INSEAD Andy Phillipps, MBA‘99J, made another in Management Education received new gifts General research Social Entrepreneurship programmes significant gift to the Entrepreneurship from both The Beaucourt Foundation and The The Class of MBA’83D made a valuable 30- to new audiences in southern Europe, Teaching Innovation Fund, which he created James M. and Cathleen D. Stone Foundation. year anniversary gift to help advance faculty Africa and southeast Asia, reaching with Timothy Bovard, MBA’89J, in 2009. The The school is grateful to the Foundations for research. Their gift will help to provide seed more than 1,000 participants. fund has been key to the development of their support over many years. Their latest money for new research projects, particularly INSEAD’s innovative teaching methods, courses gifts to the Doriot Fund will help the school to sought by our young faculty. and materials, including the development of enhance learning innovation, particularly the the successful Your First Hundred Days elective use of digitalisation in the learning experience. and award-winning case studies. 36 INSEAD Donors Report 2013/2014 37

Unrestricted gifts are highly appreciated as they give the school the flexibility to strengthen areas of priority and seize new opportunities. 38 INSEAD Donors Report 2013/2014 39 Powering a flexible, agile school: Dean’s annual fund: funds raised unrestricted gifts in current funds in 2013/2014 and allocation and to the endowment

Total value of gifts and pledges to the Dean’s Annual Fund in 2013/2014:

Unrestricted gifts in current We are especially grateful to the following funds and endowment donors for their gifts to the Dean’s Annual Fund: €745,458 INSEAD thanks all donors who provided the Dean with the resources Pierre Bastid MBA’85J Total value of gifts received to date: Number of donors: to support areas of priority in realising Rémy Best MBA’93D our vision. Thanks go equally to the Philippe Cloesen MBA’94J donors who made unrestricted gifts Paul Desmarais Jr MBA’79 €531,000 307 to the school’s endowment. While Peter Guberan MBA’86 the Dean’s Annual Fund disburses Franz Humer MBA’71 gifts in the academic year, gifts to the Leonidas Los MBA’75 endowment are helping us to build Leon Lowenstein Foundation the school’s financial foundation and Stichting Benevolentia to plan for the future. Wolfgang Schaefer MBA’87D Dieter Voegtli MBA’91D Allocation area details Dean’s Annual Fund Class of EMBA‘09 “Your gifts to the Dean’s Annual Fund give me the flexibility to direct resources in vital areas that are critical to our competitiveness Key and in strengthening our global network. In 2013/2014, your gifts were channelled in three Strengthening

areas — building our brand, strengthening our 00 global network ,0 4 Career Development Centre and in reinforcing 2 1 MyINSEAD (INSEAD € € our global network. In each of these areas, 1 community portal) 9 8 your gifts have fuelled projects that have been , 0 Alumni magazine 0 instrumental in driving learning innovation, 0 Alumni forums building great services for our students and interaction within our community. Brand and Reputation

Digital communications On behalf of the school, my sincere thanks for Research initiatives your belief and trust in my vision for the future Global business success of INSEAD.” Leaders conference

Career Development

Student summer projects

0

0

0

,

9 0 Benchmarking and 2

€ action plan Rankings study for Ilian Mihov, degree programmes Dean of INSEAD 41

A beautiful thing each day “It’s my duty to give back,” says Rémy. “I am very fortunate to have benefited from a good “Success is always reached thanks to a group education, a loving family and a safe country.” of people,” says Rémy Best, MBA’93D, Managing Partner of the Pictet Group, one A private person, Rémy gives high priority to of the leading independent wealth and asset work-life balance. “Life is a marathon, not a management groups, headquartered in sprint. I have known too many sprinters who Geneva, Switzerland. This was an early lesson have had to stop along the way.” He dedicates he learnt during his MBA year at INSEAD. time to his wife and children and keeps some “You are not alone with your problems or time for his own interests. An accomplished solutions. If you understand this fact, then you pianist, he loves gardens, landscape can share and make other people shine.” architecture and chocolate-making.

Helping others shine is Rémy’s personal A personal recommendation? “At the end of commitment, especially in his leadership role every day, try to remember the most beautiful in the firm. His main objective at Pictet now thing that happened that day. If you can do so, is to “make sure I give others the chance to then it has been a day worth the while. It can succeed”. Both individual and organisational be something very simple — a flower, a great success is important to him. project, reaching out to a colleague… or making a gift.” At INSEAD, he is happy to spend time interviewing MBA candidates and has donated Unrestricted gifts for generously to scholarships: “I believe in giving INSEAD’s endowment the bright guys the possibility to join the school. And vice versa, INSEAD flourishes by INSEAD is privileged to recognise all donors having these talented candidates become part who help to strengthen our endowment. We of the school’s global network. It’s a win-win would especially like to recognise the MBA situation for both sides.” classes ’04J and ’04D who together raised nearly €116,000 for the school’s endowment Rémy Rémy commits time and expertise as an during their ten-year class anniversary. The INSEAD Board member and as the Chairman Class of ’04J was led by Ogden Hammond and of the school’s Endowment Committee. “At Lutz Finger and the Class of ’04D by Michael Best INSEAD, an independent school that does Wingenroth, who inspired a great 54% of the not benefit from university affiliation and class to invest in the future of the school. MBA’93D funding, gifts are not embellishments,” he Managing Partner emphasises. “Gifts are vital to the school’s Pictet Group continuous excellence and development.” & Chairman of INSEAD’s This appreciation has inspired Rémy to make Endowment Committee significant donations allowing the school to invest in areas of priority. 42 INSEAD Donors Report 2013/2014 43

Integral to the INSEAD learning experience, campus facilities have enduring emotional associations that go beyond bricks and mortar. 44 INSEAD Donors Report 2013/2014 45 Developing state-of-the-art facilities: Asia campus expansion and Europe campus renovation

All of INSEAD’s three campuses Asia campus expansion embody the school’s unique history INSEAD gratefully thanks Edward and spirit. Connected virtually and Soeryadjaya, Edwin Soeryadjaya, Joyce through constant exchanges, they are Kerr Soeryadjaya and Judith Soeryadjaya arenas of learning and interaction for for their leadership gifts for the Asia our global community. Donor support campus expansion. Their gifts highlight the long and respectful relationship between is important to growing and changing the Soeryadjaya family, Astra and INSEAD, our facilities so that they match the founded on the educational programmes highest standards and serve our that first brought Astra executives and mission of excellence. INSEAD faculty together almost 40 years ago. INSEAD thanks donors who have The Soeryadjaya family gifts are their helped in the creation of the second major contribution to INSEAD. The first was made in 1984 and helped Leadership Development Centre, part substantially in the building of the of our Phase III expansion of the Asia Euro-Asia Centre on INSEAD’s campus campus. Your collective giving helped in Fontainebleau. INSEAD is honoured us to raise over S$20 million for the to name the 70-seater amphitheatre strategic development of our school. in the new Leadership Development Centre “The William and Lily Soeryadjaya We also thank donors for their gifts Amphitheatre”. to renovate and refurbish our Europe campus, where the INSEAD story Diageo has made a significant sponsorship began for so many of us. contribution to the Leadership Development Centre, strengthening the excellent relationship between the two organisations that spans recruitment, educational programmes and shared values. INSEAD is pleased to name the lounge in the new Centre and the Residence Bar after Diageo.

Several generous gifts have contributed to the success of the initiative to name an amphitheatre in the Leadership Development Centre after Professor Henri-Claude de Bettignies who pioneered INSEAD’s presence in Asia. 46 INSEAD Donors Report 2013/2014 47

INSEAD is delighted to recognise major gifts INSEAD thanks all donors who gave to the from Christina Law, MBA’91D, David Syz, renovation of Amphi A through the Amphi MBA’72, and Professor Ian Woodward towards Seat Sale. We are delighted to report that the Asia campus expansion. We are pleased donor gifts to this project have reached to name meeting rooms in the new Leadership €1 million. Half the money raised will provide Development Centre after each of them. funds for the renovation of Amphi A and the other half will be directed to the IAF Brick campaign Diversity Scholarships.

The INSEAD Brick Campaign was launched The Mews, launched in 2012/2013 with in 2014 as an exciting opportunity to support the support of Accenture, received two the INSEAD Asia campus expansion. Bricks further generous contributions from the are available for naming at five different price firm. It continues to be a central point for points to allow everybody to participate at the entrepreneurship students, faculty and alumni level at which they feel most comfortable. So alike to meet, exchange and hold events. We far, the project has received an exceptionally thank Accenture for their continued support. broad interest and donors include not only alumni from many INSEAD programmes but also faculty, administrative staff, national alumni associations and corporate supporters.

Close to 150 bricks have already been named and we are delighted to thank the donors who responded positively to this appeal.

Europe campus enhancement Renovation of the Europe campus, particularly in and around the Camembert area, will be partly financed by a gift from the Class of ’73. Led by Fund Chairs Edward Krubasik, James Kelly, Philippe Alexandre and Paco Moreno, the class raised over €260,000, the highest amount achieved for a class returning after more than 40 years. INSEAD is very pleased to acknowledge lead gifts from Jacques-André Gelin, James Hanson, James Kelly and Rudolf Maag. 48 INSEAD Donors Report 2013/2014 spotlight In the Loyal donors: constant partners in building our future

Towards a cohesive society “For me, philanthropy is a part of living While Luis has given to other areas at INSEAD, Luis Freitas responsibly in society, one of many ways of scholarships hold a special place for him. showing our solidarity with the communities They tie in closely with his deep belief that de Oliveira that are part of our life,” says Luis Freitas de promoting inclusiveness in business spurs Oliveira, who is a portfolio manager with the greater socioeconomic mobility. “Business MBA’93D Capital Group. “The motivation is not must not be the privilege of the elite few. Its Portfolio Manager dissimilar to the one behind paying your taxes, role in building an inclusive society is second Capital Group taking your political rights seriously only to education.” Building this cohesiveness 15 Years of Giving and engaging with civil society.” is, in Luis’ eyes, fundamental for a modern, open and democratic society. “Moreover,” he says, “in many countries, philanthropic gifts allow us to direct public “If, through giving to scholarships, I can help resources to our causes because, at the end of INSEAD to deliver high-quality business the day, the tax deduction made on charitable education to deserving, bright students who gifts translates into investment of public otherwise would not have access to it, then I resources in them. It is a great way to both am making a small contribution to building a extend the impact of our contribution and fairer and more cohesive society.” express our individual values!”

A self-described “ordinary INSEAD person,” Luis has been giving consistently to INSEAD since 1998.

“What differentiates INSEAD,” he says, “is its pursuit of excellence while embracing diversity 217 124 in its richest, broadest sense. Contrary to donating for donating for schools that are ‘melting pots’, INSEAD 10 – 14 years 15 – 19 years embraces a whole range of differences in lifestyles and ways of thinking, teaches tolerance and respect for those differences.”

Luis says that what is most impressive about INSEAD is that there is no “trade-off” between excellence and diversity. Diversity serves as 89 20 a means to attain excellence. “Diversity at donating for donating for INSEAD is a source of insight and strength. over 20 – 29 years over 30 years Earning my MBA there has been indispensable as I’ve pursued my career at Capital Group — a company that also prizes diversity and excellence within its culture. I would also note that Capital Group has a very generous matching gift policy, allowing me to increase the impact of my giving to INSEAD and other causes.” 51 In the spotlight

Sustainability creates the true value of an education Sharyanne McSwain is visibly emotional when Above all, Sharyanne wants to ensure that she talks about INSEAD: “I don’t consider the INSEAD experience will continue for INSEAD a one-year experience. I look at others. “You go from your regular desk job INSEAD as a lifetime commitment to an pre-INSEAD and you are plonked in this big institution — it’s a part of my life.” country house with people from countries and cultures you don’t know, in the middle of Sharyanne quit Wall Street in 2007 to become nowhere in a forest in France. As a student, the CFO of non-profit StoryCorps, one of you can’t appreciate the fact that at INSEAD the world’s largest oral history archives. you are building relationships with people who StoryCorps’ funding comes mostly from are a lifelong support network. It’s powerful donations, something that has deepened and magical bonding.” Sharyanne’s understanding of philanthropy: “I am looking at philanthropy from a totally different angle and now I really get it. The perspective on revenue is totally different from for-profit organisations.”

A prominent figure in the alumni community, Sharyanne has supported INSEAD continuously for many years. The funding difficulties she experienced when she came to INSEAD — she recalls how her fellow participants chipped in to buy her ball ticket — motivated her to help students who don’t have Sharyanne the means to come to the school, especially women: “I am a very strong believer that the female side of the universe is a powerful force McSwain in all aspects of life. And women with business education bring an even more powerful force MBA’91J into the world. I would like INSEAD to be the Chief Financial and best business school for women.” Administrative Officer StoryCorps Asked why she puts so much time into 15 Years of Giving voluntary work for the school, Sharyanne does not hesitate: “It is important to me to ensure the sustainability, the longevity of the institution.” With her experience in the non-profit sector, Sharyanne points out that, “Even the most successful institutions need continuous philanthropic support to stay alive. Sustainability creates the true value of an INSEAD education. And I think that’s something everybody needs to understand — and contribute to.” 52 INSEAD Donors Report 2013/2014 53 A promise for the future: legacy commitments

INSEAD honours alumni who The Georges and Edna believe in its mission and who, Doriot Society besides giving in other ways, are Angelo Abdela MBA’68 also supporting the school by Michael Butt MBA’67 including INSEAD in their planned Roderick Chamberlain MBA’70 legacy gifts. While some donors Beck Chiu MBA’08D prefer to direct their future gifts to John Cutts MBA’76 areas of their choice, most leave the Teena Fazio MBA’99J decision to the school. J. Peter Hunt MBA’67 INSEAD is proud to recognise the Avery Juhring MBA’67 (Deceased) Georges and Edna Doriot Society Susan Brookstone Mirbach MBA’84J donors for their exceptional foresight Patrick Mork MBA’00J and generosity and to name them Jan Murray MBA’77 (Deceased) here. Our sincere thanks also to those Roger Paice MBA’70 donors who have expressed their Alan Philipp MBA’67 wish to remain anonymous. Robert Pine MBA’76 Several donors who wish to There are many ways to make a planned legacy gift to INSEAD: bequest intention, designation remain anonymous of a retirement account, insurance policies or gifts of real estate. These are commonly made with full or partial tax relief. By making a bequest in your will, you can ensure that INSEAD, the institution that meant so much to you, will benefit from your generosity many years into the future.

“My husband and I have included organisations in our estate plans that have had great impact on us — for me, one of those organisations is INSEAD.”

Susan Brookstone Mirbach MBA’84J 54 INSEAD Donors Report 2013/2014 55 Class results at a glance

MBA’60 MBA’71 MBA’81 MBA’87D New gifts and pledges: €300 New gifts and pledges: €49,967 New gifts and pledges: €21,002 New gifts and pledges: €41,137 Participation in the year: 3.2% Participation in the year: 7.1% Participation in the year: 5% Participation in the year: 4.4% MBA’61 MBA’72 MBA’82 MBA’88J* New gifts and pledges: €1,598 New gifts and pledges: €52,201 New gifts and pledges: €8,124 New gifts and pledges: €170,001 Participation in the year: 7.9% Participation in the year: 7.3% Participation in the year: 2.9% Participation in the year: 13.5% Class anniversary results: €220,000 MBA’62 MBA’73* MBA’83J* Class anniversary participation: 15.2% No new gifts or pledges in the year New gifts and pledges: €245,055 New gifts and pledges: €44,847 Participation in the year: 16.9% Participation in the year: 10.1% MBA’88D* MBA’63* Class anniversary results: €263,110 Class anniversary results: €56,323 New gifts and pledges: €88,444 New gifts and pledges: €31,135 Class anniversary participation: 14.9% Class anniversary participation: 12.8% Participation in the year: 8.2% Participation in the year: 8.8% Class anniversary results: €75,300 Class anniversary results: €36,865 MBA’74* MBA’83D* Class anniversary participation: 9.1% Class anniversary participation: 17% New gifts and pledges: €92,605 New gifts and pledges: €4,012 Participation in the year: 11% Participation in the year: 5.7% MBA’89J MBA’64* Class anniversary results: €90,000 Class anniversary results: €23,500 New gifts and pledges: €287,175 New gifts and pledges: €81 Class anniversary participation: 9% Class anniversary participation: 4.1% Participation in the year: 14.7% Participation in the year: 4.8% Class anniversary: no report MBA’75 MBA’84J MBA’89D New gifts and pledges: €179,333 New gifts and pledges: €22,016 New gifts and pledges: €117,360 MBA’65 Participation in the year: 6.4% Participation in the year: 10.2% Participation in the year: 12.9% New gifts and pledges: €26,551 Participation in the year: 5.3% MBA’76 MBA’84D MBA’90J New gifts and pledges: €13,294 New gifts and pledges: €19,009 New gifts and pledges: €28,270 MBA’66 Participation in the year: 4.9% Participation in the year: 7.6% Participation in the year: 3.2% New gifts and pledges: €5,220 Participation in the year: 3.1% MBA’77 MBA’85J MBA’90D New gifts and pledges: €14,363 New gifts and pledges: €18,014 New gifts and pledges: €37,751 MBA’67 Participation in the year: 4.9% Participation in the year: 6.8% Participation in the year: 5.8% New gifts and pledges: €22,786 Participation in the year: 4.2% MBA’78* MBA’85D MBA’91J New gifts and pledges: €52,514 New gifts and pledges: €4,058 New gifts and pledges: €18,898 MBA’68* Participation in the year: 12.8% Participation in the year: 3% Participation in the year: 5.8% New gifts and pledges: €84,726 Class anniversary results: €174,005 Participation in the year: 28.2% Class anniversary participation: 18% MBA’86J MBA’91D Class anniversary results: €102,508 New gifts and pledges: €2,009 New gifts and pledges: €85,427 Class anniversary participation: 29% MBA’79* Participation in the year: 2.9% Participation in the year: 5.5% New gifts and pledges: €275,232 MBA’69* Participation in the year: 11.7% MBA’86D MBA’92J New gifts and pledges: €80,266 Class anniversary results: €275,232 New gifts and pledges: €16,370 New gifts and pledges: €7,838 Participation in the year: 20.9% Class anniversary participation: 11.7% Participation in the year: 6.2% Participation in the year: 4.6% Class anniversary results: €100,266 Class anniversary participation: 22.0% MBA’80 MBA’87J MBA’92D New gifts and pledges: €4,055 New gifts and pledges: €221,810 New gifts and pledges: €12,390 MBA’70 Participation in the year: 3.6% Participation in the year: 4.4% Participation in the year: 5.3% New gifts and pledges: €29,740 Participation in the year: 6.6%

*Class anniversary campaigns extend beyond the academic year and the results published are the most up-to-date 56 INSEAD Donors Report 2013/2014 57

MBA’93J MBA’99J MBA’04D* MBA’10J New gifts and pledges: €50,454 New gifts and pledges: €14,076 New gifts and pledges: €66,494 New gifts and pledges: €3,452 Participation in the year: 5.6% Participation in the year: 5.7% Participation in the year: 53.2% Participation in the year: 2.9% Class anniversary results: €67,965 MBA’93D MBA’99D Class anniversary participation: 54% MBA’10D New gifts and pledges: €94,964 New gifts and pledges: €8,616 New gifts and pledges: €3,725 Participation in the year: 4.4% Participation in the year: 4.5% MBA’05J Participation in the year: 2.7% New gifts and pledges: €26,107 MBA’94J MBA’00J Participation in the year: 4.5% MBA’11J New gifts and pledges: €44,531 New gifts and pledges: €5,008 New gifts and pledges: €7,641 Participation in the year: 10.5% Participation in the year: 3.9% MBA’05D Participation in the year: 3.3% New gifts and pledges: €2,715 MBA’94D MBA’00D Participation in the year: 2.3% MBA’11D New gifts and pledges: €4,118 New gifts and pledges: €27,883 New gifts and pledges: €3,116 Participation in the year: 5.0% Participation in the year: 4% MBA’06J Participation in the year: 2.4% New gifts and pledges: €5,946 MBA’95J MBA’01J Participation in the year: 8.1% MBA’12J New gifts and pledges: €19,553 New gifts and pledges: €1,636 New gifts and pledges: €3,067 Participation in the year: 3.2% Participation in the year: 1.4% MBA’06D Participation in the year: 2.3% New gifts and pledges: €5,084 MBA’95D MBA’01D Participation in the year: 4.1% MBA’12D New gifts and pledges: €8,773 New gifts and pledges: €13,638 New gifts and pledges: € 3,364 Participation in the year: 4.8% Participation in the year: 2.2% MBA’07J Participation in the year: 2.9% New gifts and pledges: €5,296 MBA’96J MBA’02J Participation in the year: 3.6% MBA’13J New gifts and pledges: €7,773 New gifts and pledges: €578,305 New gifts and pledges: €1,434 Participation in the year: 5.2% Participation in the year: 2.1% MBA’07D Participation in the year: 1.2% New gifts and pledges: €12,548 MBA’96D MBA’02D Participation in the year: 3.6% MBA’13D New gifts and pledges: €9,397 New gifts and pledges: €41,801 New gifts and pledges: €226 Participation in the year: 5.1% Participation in the year: 4.3% MBA’08J Participation in the year: 1% New gifts and pledges: €4,257 MBA’97J MBA’03J Participation in the year: 2.9% MBA’14J New gifts and pledges: €14,876 New gifts and pledges: €16,950 New gifts and pledges: €23,918 Participation in the year: 5.5% Participation in the year: 3.9% MBA’08D Participation in the year: 71.2% New gifts and pledges: €5,470 MBA’97D MBA’03D Participation in the year: 4.4% MBA’14D New gifts and pledges: €80,907 New gifts and pledges: €17,147 New gifts and pledges: €9,612 Participation in the year: 5.8% Participation in the year: 2.8% MBA’09J* Participation in the year: 52.8% New gifts and pledges: €50,616 MBA’98J MBA’04J* Participation in the year: 51% EMBA’04 New gifts and pledges: €38,769 New gifts and pledges: €47,344 Class anniversary results: €51,383 Class anniversary results: €3,016 Participation in the year: 28.2% Participation in the year: 47.4% Class anniversary participation: 51% Class anniversary participation: 11.1% Class anniversary results: €48,002 MBA’98D Class anniversary participation: 47% MBA’09D* EMBA’09 New gifts and pledges: €3,474 New gifts and pledges: €38,157 Class anniversary results: €8,503 Participation in the year: 5.4% Participation in the year: 47.4% Class anniversary participation: 21.2% Class anniversary results: €37,178` Class anniversary participation: 46.6%

*Class anniversary campaigns extend beyond the academic year and the results published are the most up-to-date 58 INSEAD Donors Report 2013/2014 Circle of Patrons 59

Circle of Patrons Gerhard Mayr Former Executive Vice-President Members 2002 Members 2008 The INSEAD Circle of Patrons, created in 1995, recognises a Pharmaceuticals François Hériard Dubreuil, MBA’75 Esther and Heinrich Baumann, Eli Lilly & Company Président Directeur Général MBA’72 select group of supporters — organisations, friends and alumni — Orpar Chairman of the Board who have made outstanding contributions to the advancement Paul Polman EBS Holding AG Chief Executive Officer Belmiro Mendes de Azevedo of INSEAD. Individual donors who contribute €1 million or more Chairman Unilever Ala’a Eraiqat Sonae SGPS SA and organisations that contribute €3 million or more are invited Chief Executive Officer to become members. Ute and Michael Roskothen, MBA’63 Abu Dhabi Commercial Bank Former Corporate Officer & Edgar de Picciotto Retired President Chairman of the Board Union Bancaire Privée Global Oral Care, Members 2009 Charter Members 1995 Jean Martin Members 1996 Colgate-Palmolive Sukanto Tanoto Honorary President Chairman Deepak Gupta, MBA’93J Warren M. Cannon INSEAD Research Paul Desmarais Jr., MBA’79 Baron Eric de Rothschild RGM International Pte Ltd Founder and Chairman Former Board Member in memoriam Chairman and Co-CEO Chairman Denita Group of Companies INSEAD Power Corporation of Canada Rothschild Bank AG Caroline and Georges Muller, MBA’65 Members 2003 H.E. Mohamed M. Al Mazrouei John S. Clarkeson Chairman Raoul de Vitry d’Avaucourt Leo Yip Emirate Abu Dhabi Crown Prince’s Aviva plc Chairman Emeritus Lemantrust SA in memoriam Chairman Diwan The Boston Consulting Group Inc Economic Development Board Annie and Claude Rameau, MBA’62 of Singapore Strategy& (Formerly Booz & Co) Members 2004 H.E. Khaldoon Al Mubarak General Georges Doriot Professor Emeritus CEO and Managing Director Founder of INSEAD Former Dean of INSEAD ABN AMRO Bank Michael Butt, MBA’67 Mubadala Development Company in memoriam Co-Président, France Angels Members 1997 Chairman Morgan Stanley Axis Capital Holdings Ltd Olivier Giscard d’Estaing Frédéric Lemoine 3i Group plc Members 2010 Honorary President Chairman of the Executive Board Rosalie and André Hoffmann, INSEAD Foundation Wendel The Ford Motor Company Members 2000 MBA’90D Lionel Sauvage, MBA’87J Vice-Chairman, Roche Holding Ltd. Senior Vice-President Baron Berghmans, MBA’74 Vice-Chairman, Givaudan Ltd. Pierre-Antoine Gailly Washington SyCip Capital Group Chairman Vice-President, WWF International Président Founder Members 1998 Lhoist Group Chambre de Commerce et SGV Group d’Industrie de Paris Laurent Attal, MBA’85D Members 2011 Jean-François van Boxmeer, YMP’89 Executive Vice-President Philippe Bouriez Members 2005 Président d’Honneur Roger Godino Chairman and CEO Research and Innovation Pierre Dreyfus, MBA’76 Cora John Atkin Président Heineken NV L’Oréal Vice-Chairman of the Board in memoriam Chief Operating Officer Dreyfus Sons & Co Ltd, Banquiers Holding International de Syngenta AG Développement BP plc Baron Daniel Janssen Honorary Chairman of the Board Paul Dubrule Co-Fondateur Richard Hardie Novartis International AG Solvay SA Members 2014 Accor Members 2006 Vice-Chair Eirini and Leonidas Los, MBA’75 UBS Investment Bank Royal Dutch Shell plc George Mallinckrodt KBE GlaxoSmithKline President Valeria and Rudolf Maag, MBA’73 Shipbroker Trimarine S.A. Tuulikki and Claude Janssen The Timken Company Schroders plc Edward S. Mork, MBA’68 Honorary Chairman Members 2007 Former Executive Vice-President W. Soeryadjaya Family INSEAD Royal Ahold H.E. Dr. Amal Al Qubaisi Emeritus Member Members 1999 Abu Dhabi Education Council Jonkheer John H. Loudon Henry Grunfeld Dr. Roland Berger PricewaterhouseCoopers Honorary Chairman Wolfgang Marguerre, MBA’72 Former President Honorary Chairman and Founder INSEAD Founder and Chairman S.G Warburg Group plc Roland Berger Strategy Consultants SAP AG in memoriam Octapharma AG in memoriam Frederik W. Huibregtsen Jean Marcou Dick Verbeek, MBA’76 Founder and First Chairman Former President The Public Cause Vice-Chairman Emeritus INSEAD Aon Group in memoriam 60 INSEAD Donors Report 2013/2014 Salamander Holders 61

Salamander Holders Marc de La Bruyère ’85J Hugh Murray ’68 Wenke Thoman ’77 Guthrie Stewart ’85J Anthony Simon ’68 Egbert Willam ’78 The Salamander awards, created in 1987, recognise cumulative Mikael Ahlström ’86J Kaj Burchardi ’69 Findlay Black ’79 Jack Boyer ’86J Hans-Petter Finne ’69 Heinz-Joachim Neubürger ’79 giving from INSEAD alumni. To date there are close to 800 Anat & Dov Bar-Gera ’87D Hans-Jurgen Mueller ’69 Henrich Wilckens ’79 Salamander holders. Their generous contributions enable Evan Price ’87D Martin Ricketts ’69 George Elliston ’80 Michael Sacher ’87D Christoph Tribull ’69 Daniel Fulda ’80 INSEAD to continue to grow. The names in italics are new Sophie Velge Lammerant ’87D Louis Balthasar ’70 Peter Kruyt ’80 Salamanders in the academic year 2013/2014. Christian Dreyer ’88D Roberto Buaron ’70 Richard Batty ’81 David Stevens ’88J Roderick Chamberlain ’70 Odile Saavedra Batty ’81 Originally the insignia of King François I and later the city of Pieter Eenkema Van Dijk ’89J Bruno Frey ’70 André Citroen ’81 Fontainebleau, the Salamander, representing the virtue of Jeremy Golding ’89J Bernard-Philippe Giroud ’70 Clemente Corsini ’81 Michael Phillips ’89J Dirk Hoijer ’70 Joep de Valk ’81 perseverance, was deemed fitting for recognition of alumni Michael Salomon ’89J Eric Janssens ’70 Daniel Labrecque ’81 giving, since it is also the symbol of the INSEAD Alumni Cynthia Edge-Phillips ’89D Michael Muth ’70 Samuel Laidlaw ’81 Charles Manby ’89D Timothy Noble ’70 Florian Schilling ’81 Association. Graham & Maria Wrigley ’89D Roger Paice ’70 John Sloss ’81 Andreas Jacobs ’90D Tom Sommerlatte ’70 Harald Thiel ’81 Aref Lahham ’90D Armin Timmermann ’70 Cyril Dalamel de Bournet ’82 Kevin Ryan ’90D Charles Aldington ’71 Jacques Garaialde ’82 Pascaline Servan-Schreiber ’90D Peter Gram ’71 Eduard Van Der Pluym ’82 Hoda Irani Bissada ’80 Eric Steiner ’90D David Howat ’71 Andreas Lehmann ’83J Platinum Salamander Alexis Habib ’81 Gold Salamander Patrick Firmenich ’90J Peter Kraljic ’71 Michel Marbot ’83J Blake Goldring ’82 Yves Burrus ’60 Franz Leibenfrost ’63 Sebastian Grigg ’91J Igor Landau ’71 Jacqueline Sevin ’83J Wiet Pot ’82 Claude Rameau ’62 Piet van Waeyenberge ’63 Jonathan Knowles ’91D Detlef Bindert ’72 Mark Spelman ’83J Gabriele Quandt ’85J Michael Roskothen ’63 Lord Simon of Highbury ’66 Michael Hill ’92D Bernard Courtaud ’72 Hans Breuninger ’83D Paulo Cartucho Pereira ’87J Youssef Bissada ’65 Peter Hunt ’67 Hans van der Wind ’93J Simon Critchell ’72 James Pike ’84J Lionel Sauvage ’87J Jean-Bertrand Gérard ’65 Turo Tukiainen ’67 Bernard Brenninkmeijer ’95J John de Penne Rouge ’72 Anders Swahn ’84D Guy Weston ’88D Georges Muller ’65 François Vachey ’68 Pierre-André Maus ’96D Goetz Dyckerhoff ’72 Anne Coyne Holbach ’85J Henry Engelhardt ’88J Michael Butt ’67 Jürgen Zech ’68 Alexandre Manson ’97J Jan Oscar Frøshaug ’72 David Fleck ’85D Timothy Bovard ’89J Avery Juhring ’67 Michael Nairn ’69 Hans Hammer ’98J Wolfgang Heinz ’72 Erik Westerink ’86J André Hoffmann ’90D Alan Philipp ’67 Lindsay Owen-Jones ’69 Mirjam Staub Bisang ’99J Sven Kado ’72 Wiet Heerkens Thijssen ’86D Andrew Burgess ’91D Cees van Lede ’67 Graham Williams ’69 Roderick Kent ’72 Herman Brenninkmeijer ’87J Deepak Gupta ’93J Edward Mork ’68 Jan Maarten de Jong ’70 Honorary Alumni James Leek ’72 James Fleck ’87J Rémy Best ’93D Charles Mackay ’69 Michel Guillet ’70 Arnoud De Meyer Richard Lyon ’72 Bart Hartman ’87J Luis Freitas De Oliveira ’93D Elmar Schulte ’69 Thomas Hauser ’70 David Scholey Bernard Mencier ’72 Alexandra von Schroeter ’87J Ian Potter ’93D Rolf Abdon ’70 Andrew Large ’70 Ludo van der Heyden Claude Piccot ’72 Norbert Albin ’87D Andrew Phillipps ’99J Jens Heyerdahl d.y. ’70 Frank Neyens ’70 Hans-Peter Schomaker ’72 Johan Hvide ’87D Gary Wei Wang ’02J Remmert Laan ’70 Gerhard Woehrl ’70 Faculty & Former Faculty David Syz ’72 Margaret Osius ’88J Jean-Claude Larréché ’70 Franz Humer ’71 James D. Fleck Peter Felix ’73 Loudon Owen ’88J Franz Wassmer ’70 Honorary Alumni Ruedi Wassmer ’71 James Hanson ’73 Caroline van Scheltinga ’88J Rainer Heubach ’71 Gabriel Hawawini Michael Pragnell ’72 Sibel & Emin Iren ’73 Karen Fawcett ’88D Claude Janssen John Jackson ’71 Guy Wais ’72 Silver Salamander Christopher Reilly ’73 Philippe Castonguay ’89J Heinrich Baumann ’72 Frank Burgel ’73 Adom Tenjoukian ’73 Philippe Holderbeke ’89J Wolfgang Marguerre ’72 Faculty & Former Faculty Horacio Furman ’73 Paul-Louis Durand-Ruel ’61 Michael Andreae-Jäckering ’75 Per Jonsson ’89J Rudolf Maag ’73 Landis Gabel Jacques-André Gelin ’73 Victor Kneip ’61 Jonathan Keighley ’75 Baudouin Contzen ’89D Jean-Pierre Berghmans ’74 Pekka Hietala Christopher Holloway ’73 Louis Fréling ’63 Joost Van Heijningen Nanninga ’75 Martin Hardens ’89D Alexander Dembitz ’74 Theo Vermaelen James Kelly ’73 Damien Mulliez ’63 Luc Argand ’76 Frank Steinhoff ’89D Philippe Houzé ’74 John Burgess ’75 Dieter Spaethe ’63 Patrick Cescau ’76 Eduard Van Dijk ’89D François Hériard Dubreuil ’75 Russell Pollack ’75 Rudolf Hauser ’64 Wolfgang Fieger ’76 Thomas Cahill Jr ’90J Leonidas Los ’75 Millenium Salamander John Cutts ’76 Claes Dinkelspiel ’65 Martin Flash ’76 Neil McArthur ’90J Jean-François Clin ’76 Philippe Delouvrier ’77 Gareth Dyas ’65 Oscar Kienzle ’76 William Morneau ’90J Pierre Dreyfus ’76 Christopher Bielenberg ’65 Patrick Dewez ’77 Christopher King ’65 Raymond Lonfat ’76 Anthony Todd ’90J Dirk Verbeek ’76 Horst Grosspeter ’68 Cornelius Grupp ’77 Yves Brasseur ’66 Philip Percival ’76 Vijai Gill ’91J Ulysses Kyriacopoulos ’77 Andrew Hall ’80 Jan Murray ’77 Richard Paice ’66 Pierre-Etienne Poncet ’76 Antonio Horta Osorio ’91J Peer Kolendorf ’78 Nicholas Nanopoulos ’77 Freddy Salem ’66 Philippe Sevin ’76 Tim Kingston ’91J John Singer ’78 Honorary Alumnus Alain Azan ’78 Zahi Khouri ’67 Boudewijn Gerner ’77 Henk Luykx ’91J Michael Ullmann ’78 Roger Godino Helmut Meier ’80 Angelo Abdela ’68 Norbert Jann ’77 Bruno Berthon ’91D Paul Desmarais Jr ’79 Finn Rausing ’81 Jürgen Mülder ’68 Rudolf Knuenz ’77 Richard Jenkins ’91D Christopher Fawcett ’80 Luigi Consiglio ’82 62 INSEAD Donors Report 2013/2014 Salamander Holders 63

Emmy Labovitch ’91D Guy Warlop ’63 François Moes ’70 Luca Garabet ’75 James Parker ’81 Peter Guberan ’86D Christina Choi Lai Law ’91D Stanislas Lepoutre ’64 Bernard Steck ’70 Peter de Haydu ’75 John Scott ’81 Charles Hollenkamp ’86D Bruno Basler ’92J Christian Mustad ’64 Joachim Steinert ’70 Richard Hallows ’75 Thomas Starkloff ’81 Richard Pagan ’86D Lambros Papakonstadinou ’92J Heinz Thanheiser ’64 Robert Van den broeck ’70 William Hoover ’75 Bernd Tietze ’81 Moritz Spilker ’86D Isabelle Georgeaux ’93J Detlev von Rosen ’64 Lars Wesslau ’70 Michael Howell ’75 Sebastian Van Den Hoven ’81 Gabriel Tanbourgi ’86D Joop Heijenrath ’93J Eddo Bult ’65 Peter Wetli ’70 Joseph Assemat-Tessandier ’76 Bertram von Plettenberg ’81 Eric Bernheim ’87J Bansi Nagji ’93J Ronaldo Schmitz ’65 Harald Witte ’70 Mary Lou Carter Burr ’76 Lucian Wagner ’81 Paul Bodart ’87J Antoine Bachmann ’93D Timothy Ades ’66 Terje Aass ’71 Silvano Fumagalli ’76 Etienne Blondiaux ’82 Christopher Roderick de Mattos ’87J Renaud Lagesse ’93D Tony Bernard ’66 Andreas Barth ’71 Carl Gabrielson ’76 Thomas Geitner ’82 Athina Dessypri ’87J Eric Scots ’93D Daniel Leveque ’66 Remy Caillaux ’71 Anton-Ferdinand Gassauer- Lucinda Herrick ’82 Gilles Destremau ’87J Michael Fischer ’94D Roger Levy ’66 Michael Johnson ’71 Fleissner ’76 Raymond Liu ’82 Robert Greenhill ’87J James Pitt ’94D Svante Pahlson-Moller ’66 Willem Prinselaar ’71 Reinold Geiger ’76 Stephen Pettit ’82 Per Kaufmann ’87J Jean-Marc Le Roux ’95J Karl-Ernst Vaillant ’66 Philippe Revenu ’71 Peter Gruendling ’76 Gunther Strothe ’82 Ad Ketelaars ’87J Benoît Habert ’96J Lister Vickery ’66 Ralph Schauss ’71 Alex Kaye ’76 Maarten van Berckel ’82 Ali Khalil ’87J Ilona Nemeth Quasha ’96D Roger Wippermann ’66 Peter Schreve ’71 Francisco Melo E Castro Guedes ’76 Frans Charles Cornelis ’83J Ivo Lurvink ’87J Domnin de Kerdaniel ’97J Hanspeter Buehler ’67 Mathieu Vanderbroeck ’71 Baudouin Monnoyeur ’76 Francis Cukierman ’83J Bruce McFee ’87J Marc Jalabert ’97D Roland D’Ieteren ’67 Timothy Wood ’71 Robert Pine ’76 Mark Ellison ’83J Jean-François Sauvé ’87J Julie Meyer ’97D Geert Flammersfeld ’67 Roger Abravanel ’72 Andreas Verykios ’76 Didrik Hamilton ’83J Federico Aliboni ’87D Frederick Goltz ’98J Gérard Francin ’67 Karl Anselmino ’72 Vincent Berghmans ’77 Kenneth (John) Mckelvey ’83J Hans Berg ’87D Emma Goltz ’98J John Irvine ’67 Pierre Carbonez ’72 Rodolfo Danielli ’77 Nicholas Minogue ’83J Matthew Cadbury ’87D Tom Adams ’01J Gijsbrecht Key ’67 David Cardale ’72 Cabot Henderson ’77 Johann Schneider-Ammann ’83J Alastair Guggenbühl-Even ’87D Anne de Picciotto ’01D Janusz Madej ’67 Gerald Carter ’72 Michael Obermayer ’77 Raimund Koenig ’83D Paul Lomas ’87D David Ades ’02D Yehuda Perry ’67 Willi-Jurgen Dupré ’72 Christopher Outram ’77 Achilleas Kontogouris ’83D Mark Sarvary ’87D Paul Huysmans ’05J Maurice Piccot ’67 Martin Escher ’72 Pierre Petit ’77 Marc van ‘t Noordende ’83D Wolfgang Schaefer ’87D Antoine Chemali ’05D David Roberts ’67 Roland Finckh ’72 Armand Phares ’77 Michiel Westermann ’83D Domenico Cavaliere ’88J Victor Scherrer ’67 Johannes Hamann ’72 Maarten Schönfeld ’77 Charles Al-Sidaoui ’84J Detlef Dinsel ’88J Honorary Alumnus Volker Schicht ’67 Rudolf Hug ’72 Georges Van Ussel ’77 Peter Bassett ’84J Robert Frowein ’88J Antonio Borges Martin Siegmann ’67 Maarten Janssen ’72 Olav zu Ermgassen ’77 Markus Conrad ’84J Adam Goldstein ’88J Bruno Simma ’67 Daniel Martenet ’72 Mahmood Ahmed ’78 Bruno Meyenhofer ’84J Andreas Haindl ’88J Faculty & Former Faculty Richard Bernstrom ’68 Gérald Meyer ’72 Berry & Charles Chevasco ’78 Jean-Louis Schmitlin ’84J Wouter Jongepier ’88J Philippe Haspeslagh Gérard Charlier ’68 Jochen Muennich ’72 Carlos Dexeus Sanpere ’78 Helen Alexander ’84D Joachim Luserke ’88J David Weinstein Henri Frisch ’68 Klaus Oesch ’72 Jan Mojto ’78 Andre Calantzopoulos ’84D Patrick Maselis ’88J Charles Krombach ’68 Christopher Pike ’72 Wolfgang Neuberger ’78 Said Darwazah ’84D Tim Mckinlay ’88J Duncan Payne ’68 Bernard Rolley ’72 Doucas-Paul Paleologos ’78 François-Marie Guidet ’84D Jacques Prost ’88J Hélène Ploix ’68 Kar Chun Shen ’72 Randolf Rodenstock ’78 Sami Hisarli ’84D Thomas Robl ’88J Bronze Salamander Bastiaan Rohrer ’68 Paul Verweyen ’72 Hans Schmidt-Horix ’78 Paul Larue ’84D Alistair Stranack ’88J Guido Stubbe ’68 Sergio Vitali ’72 Jean-Francois Schock ’78 Birger Magnus ’84D Jon Tenvik ’88J Jean-Marie d’Arjuzon ’60 Peter von Puttkamer ’68 Peter Záboji ’72 Robert Warfield ’78 Pascal Ravery ’84D Chris Broad ’88D Claude Friederich ’60 Ghassan Zok ’72 Christopher Mathias ’88D Jacques Gerbet ’60 Werner Baier ’69 Daniel Fustier ’79 Pierre Bastid ’85J Pierre Chapgier ’69 Ernst zur Linden ’72 Guido Gamucci ’79 Florian Langenscheidt ’85J Bert Meerstadt ’88D Paolo Sorteni ’60 Rainer Kahrmann ’69 Marcel Giacometti ’79 Francesco Loredan ’85J Beat Siegrist ’88D Brian Barrow ’61 Daniel Gauchat ’73 Bernard Kasriel ’69 Mats Hermansson ’73 Bruno Gibert ’79 Charles Mackinnon ’85J Jos van der Hyden ’88D Gustav Beck ’61 Gérald Kempf ’69 Bodo Holz ’73 Anthony James ’79 Paul Marshall ’85J Manuel von Moeller ’88D Biørn Biørnstad ’61 Terence Mahony ’69 Geert Peters ’73 Philippe Jouan ’79 David James Barron ’85D Erich Brammertz ’61 Vicken Aharonian ’89J Harald Niemann ’69 Montague Style ’73 Franz Obermeyr ’79 Philippe Coffin ’85D Christian Burger ’89J Yves Defago ’61 Attila Oess ’69 Stefan Svikovsky ’73 Roland Zoomers ’79 Disque Deane Jr ’85D Michel Gauthier ’61 Luca Caruso ’89J Dieter Pommerening ’69 Dirk Bensdorp ’74 Aristoklis Jacovides ’80 Claire Gouzouli ’85D Jeremy Leigh-Pemberton ’61 Michael Doherty ’89J Ole-Kristofer Roed ’69 Gervase McCabe ’80 Patrick Wetzel ’85D Jean-Marc Etlin ’89J Rudolph Morin ’61 Leonard Broese van Groenou ’74 Eckhard Tiemann ’69 Eberhard Crain ’74 Helmut Pfeifle ’80 Joost De Haas ’86J Joris Heerkens ’89J Charles Nussle ’61 Miklos Vendel ’69 Harley Potter ’80 Gordon Fyfe ’86J Ernst Rath ’61 Alasdair Findlay-Shirras ’74 Dirk Luyten ’89J Anthony Albert ’70 Walter Fuhrberg ’74 Martine Reynaers ’80 Laurent Levy ’86J John Philips ’89J Alain Van Den Broek D’Obrenan ’61 Christopher de Beck ’70 Dick Siekman ’80 Philip Lingard ’86J Bernd Reuther ’89J Herman Van Der Stichele ’61 Romain Gozalo ’74 Bernard gr. Broermann ’70 François Simon ’80 Pim Oomens ’86J Dean Stone ’89J Detlef Hofmeyer ’62 Timothy Ingram ’74 Alain Chapuis ’70 Guy Joly ’74 Bernard Speeckaert ’80 Sandeep Sander ’86J Bernard Le Luc ’62 Ralph Van Den Broek ’89J Paul Evans ’70 Nabil Kettaneh ’74 John Byrne ’81 David Stern ’86J Susanne Wamsler ’89J Leon Morange-Selig ’62 Jaak Felix ’70 Patrick Mocatta ’74 Harold Carter ’81 Aljosja van Dorssen ’86J Yves Kempf ’63 Samer Azhari ’89D François-Pierre Henrion ’70 Rodney Short ’74 William de Prémorel Higgons ’81 Marc Van Rooijen ’86J Caspar Baumhauer ’89D Patrick Koerfer ’63 Jan Lourens ’70 Bernhard Steinbeis ’74 Roch Doliveux ’81 Matthias von Armansperg ’86J Nicholas Bell ’89D Paul Munchen ’63 Constantin Mitropoulos ’70 Norbert Bierbaum-Hillejan ’75 Heinrich Hoyos ’81 Lydia Zaininger ’86J Paul Brynsrud ’89D Jacques Rejeange ’63 64 INSEAD Donors Report 2013/2014 65

Vivienne Cox ’89D Andrew Hunziker ’93D Hoi Tung ’99D Centres of Excellence Ferdinando Grimaldi Quartieri ’89D Eric Nordin ’93D Eric-Joost Ernst ’00J Konrad Mech ’89D Bernard van Bunnik ’93D Gary O’Brien ’00J A Centre of Excellence is a collection of co-ordinated research Paul Nehmé ’89D Philippe Cloesen ’94J Denis Bugrov ’00D Philip Aminoff ’90J Andrew De Csillery ’94J Mike Hawthorne ’00D activities established to focus on a designated area of academic Driss Ben Brahim ’90J Martin Friedrich ’94J Hendrik Van Beuningen ’00D interest, usually from an inter-disciplinary perspective. Espen Fjogstad ’90J James Gardiner ’94J Peter Schuh ’01D Bernard Frieling ’90J Andrew Harman ’94J Paolo Senes ’01D Christian Hultner ’90J Stuart Lloyd-Hurwitz ’94J Todd Hannigan ’02J Stephen Ko ’90J Susan Lloyd-Hurwitz ’94J Panagiotis Mitarachi ’03J eLab@INSEAD (eLab) INSEAD Healthcare Management David Orr ’90J Kaveh Sheibani ’94J Wassim Sacre ’03J Named Centres Initiative (HMI) Nandu Patel ’90J Marc Thomas ’94J Pasha Bakhtiar ’03D INSEAD Blue Ocean Strategy The Rudolf and Valeria Maag Institute (IBOSI) INSEAD Initiative for Learning Martin Fraenkel ’90D Oren Zeev ’94J Milena Ivanova-Venturini ’03D INSEAD Centre for Olivier Jory ’90D Michael Bonte-Friedheim ’94D Enio Shinohara ’03D Innovation and Teaching Entrepreneurship (ICE) INSEAD Corporate Governance Excellence (iLITE) Georg Madersbacher ’90D Leopoldo del Pino ’94D Konstantin Winterstein ’04J Initiative (ICGI) Carl Pfeffer ’90D Carlo Mobayed ’94D Julien Bentz ’04D Wendel International Centre for INSEAD Innovation and Policy Karl Schweitzer ’90D Brett Rierson ’94D Saman Ahsani ’05J Family Enterprise INSEAD Emerging Markets Initiative (IIPI) Christoforos Stratos ’90D Gérard Despinoy ’95J Vanessa Fraiberger-Netter ’05J Institute (IEMI) Henrik Wareborn ’90D Paul G. Smith ’95J Georgios Allamanis ’05D INSEAD Social Innovation Centre Byron Woodmansee ’90D Karim Abboud ’95D Tim Noortman ’07J INSEAD Centres INSEAD European (ISIC) Francesco Conte ’91J James Maughan ’95D Basile Cayatte ’09J Competitiveness Initiative (IECI) Aaro Tilde Eide ’91J Rory O’Sullivan ’95D Rose Maria Louise Damen ’13D Asia Pacific Institute of Finance INSEAD-Sorbonne Kathryn From ’91J Nina Patawaran ’95D (APIF) INSEAD Global Leadership Centre Behavioral Lab Stephen Harrison ’91J Bechara Tony Raad ’95D (IGLC) Siri Hatlen ’91J Arthur Vayloyan ’95D EMBA Alumni Centre for Decision Making and INSEAD-Wharton Centre for INSEAD Global Private Equity Global Research and Education Dagmar Hesse-Kreindler ’91J Shane Feeney ’96J Risk Analysis (CDMRA) Kay Noh EMBA’04 Initiative (GPEI) Daniel Lalonde ’91J Scott Henderson ’96J Mark Norbury EMBA’06 Julius Landell-Mills ’91J Joseph McMillen ’96J Layi Gobir EMBA’11 Sharyanne McSwain ’91J Anne Marie Roumieux ’96J Magdalena Sacre Svensson EMBA’13 Hervé Sarteau ’91J Dorothée Deuring ’96D Charles Schanen ’91J Christoph Grosspeter ’96D Richard Teichmann ’91J Amy Jane Bull ’97J Honorary Alumnus Claus Zieler ’91J Eric Sanschagrin ’97J Frank Brown Wolfgang Falter ’91D Natasha Tsukanova ’97J Jérôme Moitry ’91D Alexei Beltyukov ’97D Major Research & Teaching Funds Dieter Voegtli ’91D Jean Bergeron ’97D Executive Education Alumni Michele Appendino ’92J Matthias Calice ’97D Ian Edwards AMP’01 These Funds encourage and support interdisciplinary research Rob Becker ’92J Olesya Chikunova ’97D Hoon Ping Ngien AMP’12 Anne Campbell ’92J Sergey Grechishkin ’97D Martine Van den Poel CCC’03 and teaching projects of strategic importance to the School. Andreas Fetting ’92J Karl Robijns ’97D Philippe Haspeslagh CCC’07 Boudewijn Neijens ’92J Timothy Spurr ’97D Salina Mei Chun Ho CIM’92 Jean de Skowronski ’92J Vladimir Yakushev ’97D Jennifer Walton IEP F/S’01 The Creativity-Business Platform The Dreyfus Sons & Co Ltd, The ABN-AMRO Endowed Marie Elaine Teo ’92J Andrey Kashubsky ’98J Alexis von Busekist IEP’02 (2013) Banquiers endowed Research Fund Research Fund Georges Burki ’92D Kathy Litalien ’98J Jochum Pihl IEP’88 Jean de Cloedt ’92D Patricia Sharma ’98J for Corporate Social Responsibility (2000) Bettina Langenberg IEP’97 The Avery B. Juhring Endowed (2007) Frank Gulich ’92D Peter Marissen ’98D Fund for Entrepreneurship The Yves Burrus Endowed Fund Diego Labarquilla Basabe ’92D Lauren Ptito Anderson ’98D (2012) The Entrepreneurship Teaching in Ethics Ronald Ling ’92D Pierre Charalambides ’99J Faculty & Former Faculty Innovation Fund (2000) Geoffrey Ralston ’92D Teena Fazio ’99J Lourdès Casanova The Patrick Cescau/Unilever (2006) Mika Salmi ’92D Vincent Gerondeau ’99J Henri-Claude de Bettignies Endowed Fund for Research The Morgan Stanley Research Niels Christiansen ’93J Jean-Philippe Grosmaitre ’99J José de La Torre in Diversity and Leadership The Doriot Fund for Innovation Fund for eLab@INSEAD Patrick Demoucelle ’93J Andrew Hanff ’99J Soumitra Dutta (2009) and Excellence in Management (2000) Education Christophe Inglin ’93J Bing Xie ’99J Dominique Heau Monique Muri ’93J Patrice Collette ’99D The Heinrich and Esther Baumann- (2005) The SAP eCommerce Research John Witt ’93J Frederic Debruyne ’99D Steiner Endowed Fund for Fund for eLab@INSEAD Anneke Wyman de Boer ’93J Olivier Gorter ’99D Creativity and Business The André and Rosalie Hoffmann (2000) (2007) Research Fund for Family Jeroen Zaalberg ’93J Marina Koupeeva ’99D Enterprise The Dean’s Innovation Fund Natalie Man Se Chan ’93D Rolf-Günther Nieberding ’99D (2004) (1995) Klaas de Boer ’93D Sebastian Reschke ’99D 66 INSEAD Donors Report 2013/2014 Chairs & Fellowships 67 Chairs

A Chair is an endowed faculty position and is considered the The Raoul de Vitry d’Avaucourt INSEAD Chairs The INSEAD Chair in Management highest honour that can be bestowed upon a faculty member. Chair in Leadership Development Science (1982) The INSEAD Chair in Finance Philip Parker (2005) Endowing a chair signals particularly strong support of the role Narayan Pant (2012) Bernard Dumas (2009) of faculty. The INSEAD Chair in Marketing in The John H. Loudon Chair in The INSEAD Chair in Business Memory of Erin Anderson International Management (1979) Ethics and Corporate Ziv Carmon (2012) Henrich Greve (2014) Responsibility The AXA Chair in The Portuguese Council Chair in The Henry Ford Chair in N. Craig Smith (2007) The INSEAD Chair in Financial Market Risk (2013) European Studies (2000) Manufacturing (1997) Corporate Governance Joël Peress (2013) Antonio Fatas (2006) Luk Van Wassenhove (1998) Ludo Van der Heyden (2014)

The Abu Dhabi Crown Prince’s The Cora Chair in Leadership and The Paul Desmarais Chair in Diwan Endowed Chair in Societal Learning (2000) Partnership and Active Ownership Progress (2009) Herminia Ibarra (2007) (1996) Subramanian Rangan (2010) Laurence Capron (2011) The Eli Lilly Chair in Strategy and The Mubadala Chair in Corporate Innovation (1999) The Claude Janssen Chair in Governance and Strategy (2008) Peter Zemsky (2007) Business Administration (1996) Gilles Hillary (2014) Hubert Gatignon (1996) The Berghmans Lhoist Chair in The Abu Dhabi Commercial Bank Entrepreneurial Leadership (1999) The BP Chair in Chair in Int’l Management (2007) Randel Carlock (2001) European Competitiveness (1995) Fellowships Nils Rudi (2014) Karel Cool (1996) The Roland Berger Chair in The Aon Dirk Verbeek Chair in Strategy and Organization Design The Boston Consulting Group Fellowships allow faculty and researchers to explore an International Risk and Strategic (1999) Bruce D. Henderson Chair in academic area of importance to INSEAD. Management (2007) Phanish Puranam (2012) International Management (1994) Javier Gimeno (2008) W. Chan Kim (1994) The Novartis Chair in Healthcare The GlaxoSmithKline Chair in Management (1999) The Timken Chair in Global The Shell Fellowship in Economic The Salmon and Rameau The INSEAD Fellowship in Corporate Innovation (2006) Stephen Chick (2008) Technology and Innovation (1994) Transformation (1993) Fellowship in Healthcare Strategy and International Amitava Chattopadhyay (2012) Serguei Netessine (2011) Pushan Dutt (2013) Management (1995) Management (1997) The Rothschild Chair in INSEAD Healthcare Management Renée Mauborgne (1997) The Strategy& Chair in Banking (1999) The UBS Chair in Investment The Shell Fellowship in Business Initiative (2012) Revenue Management (2006) Massimo Massa (2007) Banking, endowed in honour of and the Environment (1993) Ioana Popescu (2006) Henry Grunfeld (1994) Jasjit Singh (2013) The INSEAD Dutch Alumni The Unilever Chair in Theo Vermaelen (2013) Fellowship in Leadership, Diversity The André and Rosalie Hoffmann Marketing (1999) The Akzo Nobel Fellowship in and Governance (2011) Chair in Family Enterprise (2004) V. (Paddy) Padmanabhan (2014) The Shell Chair in Human Strategic Management (1996) Elizabeth Florent Treacy (2014) Morten Bennedsen (2009) Resources and Organisational Andrew Shipilov (2008) The Schroders Chair in European Development (1993) The Aviva Chair in Leadership Competitiveness and Reform Jean-François Manzoni (2011) and Responsibility (2004) (1998) Charles Galunic (2006) Timothy Van Zandt (2013) The IAF Chair in Entrepreneurship (1992) The Orpar Chair in The L’Oréal Chair in Marketing - Philip Anderson (2001) Risk Management (2002) Innovation and Creativity (1998) Anil Gaba (2002) Pierre Chandon (2012) The Novartis Chair in Management and Environment (1990) The de Picciotto Chair in The Solvay Chair for Technological Ilian Mihov (2008) Alternative Investments (2002) Innovation (1998) Pierre Hillion (2002) Yves Doz (2011) The Alfred H. Heineken Chair in Marketing (1988) The Paul Dubrule Chair in Jean-Claude Larréché (1993) Sustainable Development (2001) Karan Girotra (2014) 68 INSEAD Donors Report 2013/2014 69 Endowed Scholarships Organisational Giving: Corporations, Scholarships are the most powerful means to attract and retain the Foundations, Special Entities best candidates. A robust scholarship programme allows INSEAD to increase offers to top candidates and help generate more high INSEAD’s close connections with corporations and foundations quality applications while preserving our hallmark of diversity. go back a long time. Their on-going support of all our activities is critical for the school in its mission as Gabel Family Scholarship MBA’70 Special Profile Scholarship ‘The Business School for the World’. MBA Scholarships Giovanni Agnelli Scholarship MBA’87J Special Profile Scholarship Alcatel-Lucent Scholarship for Groupe Galeries Lafayette MBA’89D Diversity Scholarship Scholarship for Women Asians MBA 1991 June Scholarship Syngenta Andrew Hordern Scholarship - ’91D Ian Potter ’93D and Family Asia MBA’93J Endowed Scholarship Corporations Special Entities Scholarship The Boston Consulting Group Andy Burgess Scholarship for MBA’03D Diversity Scholarship Abraaj Norway Abu Dhabi Crown Prince’s Diwan Social Entrepreneurship INSEAD Alumni Association (IAA) Scholarship Fund Nelson Mandela Scholarship - ’75 Wendel Antonio Borges Scholarship Accenture Jacques Nasser Leadership Orange Scholarship for Belgian Council and Alumni Bain & Co Canada Matching gifts Scholarship Emerging Markets Scholarship Consolidated Contractors Judith Connelly Delouvrier Ryoichi Sasakawa Young Leaders Foundations Capital International SA Bischoff Family Scholarship Fellowship Fund (Sylff) Company Scholarship - ’77 Capital Group International Inc Deepak and Sunita Gupta Danfoss Apax Foundation Louis and Evelyn Franck Award for Sam Akiwumi Scholarship - ’07D Scholarship Deutsche Bank AG Excellence Syngenta Scholarship for Diageo Carlock Family Foundation Elof Hansson Foundation S.H. Cowell Foundation Marguerre Scholarship for Emerging Country Leadership DIMLux Elizabeth Cabot Lyman 2002 Scholarship Barclays Investment Bank Entrepreneurial Talent Fiera Capital Charitable Lead Annuity Trust Esa Hietala Scholarship Standard Chartered Bank General Atlantic Isaac Dreyfus-Bernheim Stiftung Google Asia Pacific Pte Ltd Johnson & Johnson J. Frank & Susan S. Brown Family BC Partners L’Oréal Foundation McKinsey & Co Inc Louis Vuitton James M. & Cathleen D. Stone Edwards Lifesciences Corp Named Facilities Oclaner Asset Management Foundation American Express Power Corporation of Canada Leon Lowenstein Foundation Stichting Benevolentia In kind INSEAD’s pursuit of academic excellence must be supported Roland Berger Strategy Consultants The Beaucourt Foundation by world-class facilities. A state-of-the-art learning environment Michel et Augustin The Greendale Foundation Schibsted strongly enhances the learning experience on campus.

Europe Campus MBA’74 Reading Area Henri-Claude de Bettignies MBA’77 Breakout Room Amphitheatre Corporate Associate Programme The BCG Amphitheatre MBA’78 Bar Terrace Edward S. Mork Amphitheatre Chris King Amphitheatre MBA’87D Breakout Room Michael S. Roskothen Amphitheatre Dean Berry Amphitheatre Mickey & Company Lifestyle Partnering with INSEAD annually opens the door to unique Georges and Edna Doriot Library Center Gilbert Sauvage Conference Room opportunities for organisations seeking visibility and impact at Freddy’s Bar Raoul de Vitry Amphitheatre Shaw Foundation Water Lily ‘The Business School for the World’ . Our corporate associates Rudolf and Valeria Maag Hammer Roof Garden Garden Henri-Claude de Bettignies Room Amphitheatre provide essential funding for innovative projects and join an Leonidas and Eirini Los William Soeryadjaya Amphitheatre Henry Ullmann Forum Meeting Room elite global community who advance the school’s mission. The Biergarten: Christina Law, MBA’91D, INSEAD Gesellschaft Deutschland Meeting Room John Loudon Amphitheatre Asia Campus David Syz, MBA’82, Accenture Goldman Sachs Robert Bosch The Mews (Accenture) Meeting Room AT Kearney McKinsey Roland Berger Strategy Macquarie Bench Claude and Tuulikki Janssen Auditorium Ian Campbell Woodward Bain Novartis Consultants MBA’67 Breakout Room Meeting Room André and Rosalie Hoffmann Strategy& (Formerly Booz & Co) Olayan The Boston Consulting Group MBA’70 Breakout Room Rose Damen, MBA’13D, Terrace Amphitheatre Citi Philip Morris WPP MBA’70 Amphitheatre Tanoto Library William and Lily Soeryadjaya Deutsche Bank MBA’72 Amphitheatre Amphitheatre Gabriel Hawawini Orchid Garden MBA’73 Amphitheatre

70 INSEAD Donors Report 2013/2014 Taxe d’Apprentissage 71

Taxe d’Apprentissage L’Oréal Publicis Activ France Société des Centres Commerciaux Macspe PVH France Société Générale Corporate McKinsey Pyle Partners Investissement The taxe d’apprentissage is a compulsory tax for companies Mediagong Rand Frères SA Société Générale Melun operating in France and goes towards developing professional Meple Randstad Sodexo and technical skills throughout the workforce. Metin holding Reverse technology Sofac Sofidy At INSEAD, the funds collected are used to enhance MHG Europe Rexel France Michael Page Rivierakeys France Soft Paris INSEAD’s MBA and PhD Programmes. Microsoft Roofmart France Solutions 30 Moet Hennessy Royal Airport Strategy Analysis International Monnoyeur SAS Saatchi & Saatchi StratX 3I France Cisco Systems Europe SARL France Télévision Publicité Mosaic Associés Sabre SA Technicontrol AAA Riviera Claire Augros Management Galeries Lafayette Motivation Factory SAF Services Telima Groupe Acta Manent Climaver Gamin Tout Terrain Multeam Sagop The Myndset Company ADL partner Cofrinvest Genticel Mythic Brands Saint-Gobain Groupe Tiano AJT Instrumentation Colibriwithus Genzyme Nauteq Europe BV SAP France Touratier Electronique Systemes Alcatel Lucent Compagnie Chao Gibert Jeune Groupe Oaktree France Taxis Canavy Sarl Trianon Corporate Finance Alma Services Courvoisier Gie Resa Taxis Pro Oceans Evasion (World Ocean) SAS IFE Mezzanine Truffaut American Express Voyage Credit Agricole GMG Sarl Olympus SAS Intersanté Tubauto SA d’Affaires Dang Mong Hoan & Associés Groupe Rothschild Omapi Label Sasu Calya consultant UBS Securities France Ampersand Diamoon GTV Omniscope Savarez Ulmann SAS Aon France Districom Sales and Marketing Gymworks Orascom Int Hotels Development Savoie Refractaires Union Française des Semenciers Appsfire Dolwez Habert Dassault finance PC 30 Family Schoeller Allibert UOB Global Capital Astavoz DPC Associés Hilfiger Stores France PCL Selas Pharmacie du Soleil Vauban Partenaire Automatisation Systèmes E.I.M. HSBC France Mécaniques Pechel Industrie Partenaires Sephirot Vinci Construction Management Egon Zehnder International Imaginvest Axa Millesimes Gestion Peugeot SA Servair Warnaco Groupe Eiffage Energie Ile de France Industrielle de vitrages Axegaz Pfizer International SGGSMI-ETBS Auvergne Isolation Waterlogic France Elec 90 INSEAD Résidences Banque de France Pharmacie Savelli SIACI Saint Honoré Wefcos Electrofroid Invus Banque Léonardo Pictet & Cie Europe SA Sincoplas Xerox Groupe Enteleia Strategy Isol France Banque Neuflize OBC Piller Smurfit France Zegones Entreprise Pointeau ISS Propreté Becton Dickinson France Placoplatre Smurfit Kappa Goethe Eurasie Iteca Befor Technitrans Polyflame Europe Sneci Europe Rouleaux Kao France Bioamber Fast retailing Kapa Reynolds Bissada Management Simulations Fête In France Kellydeli SAS Bonnardel FFP Kering Brammer France Fiducial Knauf AMF Plafonds & Systemes Brossette Filliatre et Sigot La Bonde Capital Continental Gestion Finadvance La Carterie Carbovac Financière Bonnat La Route des Langues Carrier Transicold Europe Financière EVS La Tour d’Argent Carrières & Fours à Chaux de Fineiffel Lafarge Dugny Firmenich Laphal Industries Cars Fraizy FMC Technologies Le Pain et le Vin CFI Technologies Fnam Le Troubadour Chaux & Dolomies du Boulonnais Fontainebleau Langues Leo pharma Ciclad gestion Communications Letsact Cie Lebon Food 4good Lhoist Cinven Fours à Chaux de Sorcy Lincoln International 72 INSEAD Donors Report 2013/2014 Individual Giving:Alumni, Friends & MBA Students 73

Individual Giving: MBA’69 MBA’70 €1 000 to €2 499 Reunion Fund Co-Chairs €25 000 to €49 999 Charles Metherell Alumni, Friends & MBA Students Kaj Burchardi Jens P. Heyerdahl d.y. * Hans-Peter Schomaker Martin Ricketts Sebastian Tham €10 000 to €24 999 Annual donations of any amount are an effective way to Reunion Fund Delegates Michael Muth * €300 to €999 contribute to INSEAD in an ongoing manner. Here we Bruno Bertrand Franz Wassmer Goetz A. Dyckerhoff * Goran Elfverson Paul Verweyen * acknowledge all donors whose gifts and pledge payments €5 000 to €9 999 Jean-Pierre Faisant Alain Chapuis * Up to €299 were received between 1 Sept. 2013 and 31 Aug. 2014. Gérald Kempf Thomas Hauser * Jeremy Howarth * Attila Oess Raymond Le Roy Liberge €2 500 to €4 999 €300 to €999 €25 000 to €49 999 Ole Roed MBA programme Bernard gr. Broermann * Brian Meringo * François Vachey €25 000 to €49 999 MBA’73 Andrew Large Jagadish Rao €10 000 to €24 999 Christoph Tribull Reunion Fund Co-Chairs MBA’60 €1 000 to €2 499 Up to €299 Eddie Mork €10 000 to €24 999 Philippe Alexandre €300 to €999 Lucien Arbel Juan Llaguno-Farias Bernard Kasriel James Kelly * Guenter Luedemann * €5 000 to €9 999 Christian Sonnenstein Edward Krubasik Horst Grosspeter €5 000 to €9 999 Anthony Vyvyan Francisco Moreno de Alboran MBA’65 Hugh Murray Gérald Kempf MBA’61 Up to €299 €25 000 to €49 999 Anthony Simon €50 000 to €99 999 €10 000 to €24 999 €2 500 to €4 999 Richard Madey * Georges Muller Guido Stubbe Jacques Gelin Victor Kneip Hans Petter Finne Andrew Somogyi Rudolf Maag €1 000 to €2 499 €2 500 to €4 999 €1 000 to €2 499 Diederich Framhein Frans Haelwaeters * Francis Desforges €25 000 to 49 999 Michel Gauthier * Miklos Vendel * MBA’71 Henri Frisch Eric Hanson €300 to €999 €1 000 to €2 499 €25 000 to €49 999 €300 to €999 Charles Krombach Peter Falk * Eric de Montille * Rainer Heubach €10 000 to €24 999 Jeremy Leigh-Pemberton * Duncan Payne * Mats Hermansson Up to €299 Charles Mackay Franz Humer Up to €299 Jorgen Perch-Nielsen James Kelly * Gareth Dyas Harald Niemann €2 500 to €4 999 Paul-Louis Durand-Ruel €1 000 to €2 499 Ole Roed Ruedi Wassmer * €5 000 to €9 999 MBA’66 Angelo Abdela * Frederik Van Den Bergh Philippe Alexandre MBA’62 Michel Brisset €1 000 to €2 499 €300 to €999 Peter Felix €5 000 to €9 999 Gérard Pierre Charlier Rolf Dziallas * €10 000 to €24 999 Christian Baumann Bodo Holz Daniel Leveque Daniel Furman Matty Vanderbroeck * Claude Rameau Jacques Berry Edward Krubasik Up to €299 Juergen-Helmut Schulze Jean-Philippe Delcroix €300 to €999 Paco Moreno De Alboran Vierna Timothy Ades * Nicholas Ward MBA’63 Jean-Pierre Faisant Roland de Calonne d’Avesnes €2 500 to €4 999 Daniel Arvet-Thouvet Jürgen Zech Reunion Fund Chair Frederic Farnoudi Guenther Dietrich * Frank Burgel * Louis Fréling €300 to €999 Jean-Louis Gleizes Peter Schreve * Jean-Rémi Camus MBA’67 Jean-Louis Benoit Guy Le Pechon €10 000 to €24 999 Up to €299 Daniel Gauchat €10 000 to €24 999 Yves Fedida Gour Shavit Piet van Waeyenberge Luís B. Brito da Silva Correia John J. Grumbar Michael Butt Dietmar Fuchs Wolfgang Van Oven Aldo d’Incau €1 000 to €2 499 €2 500 to €4 999 Alan Philipp * Paolo Jurkic Up to €299 Louis Ferran David Blacklock Louis Fréling Ted Mott €1 000 to €2 499 Corso Aloisi De Larderel Gerhard Fischer Christoph Fahr-Becker Jacques Rejeange Leif Palmblad Gérard Francin * Jacqueline Aloisi De Larderel Frans Kok Horacio Furman Hélène Ploix €300 to €999 Nicholas Bradshaw Tim Wood August Gruber €300 to €999 Bastiaan Rohrer David Hudson Gerard de Sepibus Johann J Hovan John Irvine Nabil Zok Colin Perry MBA’72 Jean-Claude Seys Wolfgang Fuerboeck Olivier Seigneur Up to €299 Up to €299 Patrick Lamotte €25 000 to €49 999 Stefan Svikovsky Up to €299 Robert Briefel Henry-Jean Petit Michael Pragnell * Emmanuel De Vicq De Cumptich €300 to €999 Jean-Marie Bacholle Jonathan Michael Franklin Reinfried Spazier David Werner Syz John Chamaah Claude Jonemann MBA’64 €5 000 to €9 999 Michael Cole MBA’68 Peter von Puttkamer Reunion Fund Chair Sven Kado John Gaither Reunion Fund Delegates Johan Wennberg Alain Spicq Laurent Giacometti Duncan Payne * €2 500 to €4 999 Monty Style Eddie Mork Roger Abravanel Michael Travis Jürgen Zech James Leek

* Recognises alumni who have given to INSEAD for the past five consecutive years. 74 INSEAD Donors Report 2013/2014 Individual Giving: Alumni, Friends & MBA Students 75

Up to €299 €10 000 to €24 999 €5 000 to €9 999 €300 to €999 MBA’82 Up to €299 Nigel Forrest * Philip Percival * Alain Azan Spyros Capralos * €5 000 to €9 999 George Katsouris Frédéric Jourdain Egbert Willam Yoav Chelouche Stavros Kourias €2 500 to €4 999 Jacques Garaialde Herbert Kontges Daniel Fustier Hans Pirker Martin Flash €2 500 to €4 999 Harry Kyriazis €1 000 to €2 499 Antonio Viana Baptista Fares Korkmaz MBA’74 €1 000 to €2 499 Thomas Livingstone-Learmonth Blake Goldring Robert Pfrunder Reunion Fund Chair Hans-Jürgen Bernsen * €1 000 to €2 499 Denis Metzger MBA’84J Eberhard Crain * Ayman Choucair Alix de Poix Carlo Montenovesi Up to €299 €10 000 to €24 999 Gérard de Hemptinne * Hervé de Vriendt Yves Spoerry Nathaniel Hone * Jamie Pike €10 000 to €24 999 Raymond Lonfat * Henri Guillemin Annie Luypaert-Maurice Alex Dembitz Up to €299 €5 000 to €9 999 Robert Pine * Ilham Eliane Khalil Philippe Luypaert Alasdair Findlay-Shirras Jean-François Caeymaex Markus Conrad Régis Mitjavile William Murrell * Philippe Houzé * €300 to €999 François Gall Ralph Montandon €1 000 to €2 499 Mary Lou Carter Burr * Brynjolfur Helgason Michael Polya €2 500 to €4 999 Wolfgang Fieger * Brigitte Morel-Curran Peter Bassett * Dirk Bensdorp Yutaka Nakamae MBA’83J Thomas Kran MBA’80 €300 to €999 Eberhard Crain * Bruce Pollock * Randolf Rodenstock €2 500 to €4 999 Reunion Fund Chair Susan Brookstone Mirbach François Tesch €1 000 to €2 499 €300 to €999 Daniel Fulda Nicholas Minogue Paul Diercks * Leonard Broese van Groenou Hubert Clasen Patrick Esnouf MBA’77 €1 000 to €2 499 €10 000 to €24 999 Georg Eder John Hodgson Marcel Genadry * Bernard Guez Andreas Lehmann Romain Gozalo €10 000 to €24 999 Yasushi Matsushita Martín González del Valle Chavarri François Momboisse Marc Guyader Cornelius Grupp * Sue Mcinerney-Potter €5 000 to €9 999 Jeff Johnson Timothy Ingram Ulysses Kyriacopoulos * Luigi Mencarelli €300 to €999 Kenneth McKelvey Shuichi Watanabe Nabil Kettaneh * Michael Obermayer Gianni Patuzzo Jean-Gérard Blanc * Mark Spelman Up to €299 Christian Monod €5 000 to €9 999 Up to €299 Up to €299 €1 000 to €2 499 Eric de Beauvoir Bernhard Steinbeis Pierre Petit Michel Blumenthal * Simone Amber Frans Cornelis * Wendy Giardina Didrik Hamilton €300 to €999 €2 500 to €4 999 Richard Duron Makiyo Narushima Victoria Provis Conor Kehoe Xavier Accariès Grant Tait Gautier Germ Didier Riou Tania Vranopoulos Jean-Denis Hatt Gilbert Gras * Gavan Sellers * Elisabeth Kehoe €1 000 to €2 499 Naomi Kogon-Steinberg * Jean Huber * Johann Schneider-Ammann MBA’84D Patrick Dewez * Maarten Van Eeghen * Hans Schmidt-Horix MBA’81 Chris Outram €300 to €999 €10 000 to €24 999 Sotiris Sotiropoulos Up to €299 €25 000 to €49 999 Charles Irving-Swift * Sami Hisarli €300 to €999 Despina Nikolopoulou Alexis Habib * Christoph Lindenmeyer Jean-Pierre Dupont MBA’79 €1 000 to €2 499 Udo Petschnigg * €10 000 to €24 999 Up to €299 François Bertreau * Maarten Schoenfeld Reunion Fund Co-Chairs Clemente Corsini François Casier * Bruno Cousin Ashwini Kakkar MBA’75 Up to €299 Samuel Laidlaw Philippe Corthouts Babette Pettersen €300 to €999 €50 000 and above Bill Fraser Viviane Doguet Corthouts €2 500 to €4 999 Marijke Horensma * Leonidas Los * Arild Nerdrum * Reunion Fund Delegates Paul Hancock * William de Prémorel Higgons * Bob Stillerman Mark Doswell Christopher Hopton * Up to €299 €2 500 to €4 999 Sebastian Van Den Hoven * Bruno Gibert Anthony Palmer Jose Pedro Caldeira Da Silva Luca Garabet MBA’78 Paolo Guidelli Guidi €1 000 to €2 499 Henri Thijssen Ines De Andrade Tavares €1 000 to €2 499 Reunion Fund Co-Chairs François Macaire Daniel Labrecque Jean-Charles Uyttenhove * Ako Doffou Patrick Berthon * Luigi Mencarelli Florian Schilling * Luis Gravito €25 000 to €49 999 Sylvie Vercruysse-D’heygere Jean-Paul Van Keirsbilck John Singer Jennifer Szersnovicz Dimitrios Katsaounis Findlay Black Egbert Willam MBA’83D Lazaros Sakellariou €300 to €999 €300 to €999 €5 000 to €9 999 Heinz Waser Manuel Serzedelo de Almeida Reunion Fund Delegates Stephen Ewin * Reunion Fund Co-Chairs Marcel Giacometti Peter Kappeler * Geneviève von Hahn Crepin Katharina Gregor * Marc van’t Noordende Jean Huber Bruno Gibert * Michiel Westermann MBA’85J Up to €299 Dirk Perquy Yasushi Matsushita €25 000 to €49 999 Guy Desseaux €2 500 to €4 999 John Scott €1 000 to €2 499 Hervé de Vriendt Gabriele Quandt Zvi Markuszower Roland Zoomers Lucian Wagner Bernard Bastier Ivo Vandenbussche €25 000 to €49 999 €1 000 to €2 499 Up to €299 Jerzy Ullmann €10 000 to €24 999 John Singer Mark Doswell Richard Bissonnet Michiel Westermann Pierre Bastid MBA’76 €10 000 to €24 999 Xavier de Froment €300 to €999 €1 000 to €2 499 €50 000 and above Peer Kolendorf * Greg Infeld Didier Nuq Hans Hollenweger Pierre Dreyfus * Michael Ullmann François-Marie Raymond

* Recognises alumni who have given to INSEAD for the past five consecutive years. 76 INSEAD Donors Report 2013/2014 Individual Giving: Alumni, Friends & MBA Students 77

€300 to €999 MBA’87J Mark Hudson €2 500 to €4 999 Up to €299 Gigi Letts Marc de La Bruyère €50 000 to €99 999 Joachim Luserke * Diogo da Silveira Caspar Baumhauer Ben Timmerman Louise Morwick Emmanuelle Peltre Paulo Cartucho Pereira Andreas Krohn George Bradt * Up to €299 Meg Osius Guthrie Stewart Lionel Sauvage * Christof von Branconi John Coleman * Dagmar Hesse-Kreindler * Jan Van Toulon Van Der Koog Richard Parsonson Susie Hedegaard €1 000 to €2 499 Sharyanne McSwain * €5 000 to €9 999 Jacques Prost Michael Jary Up to €299 Bertrand Hainguerlot Andreas Papakyriacopoulos Eric Bernheim William Spurgin Manuel Ravara Cary Beat Scherrer Hideo Hirano Isaak Tsalikoglou €2 500 to €4 999 Willem van Lawick Conrad Roos Martin Van Grevenstein Pascal Lecordier Paul Bodart * James Watt Up to €299 Patrick Mueller MBA’91D Bruce McFee MBA’90J Ronald Berger-Lefébure Ralph Van Den Broek * €25 000 to €49 999 MBA’85D €1 000 to €2 499 Susanne Wamsler €10 000 to €24 999 Andy Burgess Per Kaufmann MBA’88D Stephen Ko * Christina Law €2 500 to €4 999 €300 to €999 Ichiro Miyake Reunion Fund Co-Chairs Joaquim Paiva Chaves Gisele Alexis €5 000 to €9 999 €10 000 to €24 999 Jos van der Hyden Philip Aminoff * €300 to €999 Up to €299 Catharine Elliott Jonathan Knowles Manuel von Moeller Claire Gouzouli Thierry De Schryver Jan Willem Van Heemstra €2 500 to €4 999 Dieter Voegtli Ad Ketelaars €10 000 to €24 999 Paula Van Heemstra Thomas Seiler Thomas Cahill Jr * €5 000 to €9 999 Chris Broad Gilles van Nieuwenhuyzen * Up to €299 €300 to €999 Bruno Berthon * MBA’87D Yann Vincent Yiannis Sakellariadis €5 000 to €9 999 Darin Deschamps * Emmy Labovitch * €10 000 to €24 999 Eckhard von Muenchow * Christopher Mathias Up to €299 Christian Hultner Anat Bar-Gera €2 500 to €4 999 Manuel von Moeller Michael Carter Dov Bar-Gera Up to €299 Jerome Moitry * MBA’86J Philippe Castonguay Wolfgang Schaefer €1 000 to €2 499 Brian Buckley Scott Mosher * Jaap De Mare €1 000 to €2 499 Sophie Velge Lammerant Olivier Beaumont Vassilios Koutentakis René Frion €1 000 to €2 499 Erik Westerink Ewoud Goudswaard €5 000 to €9 999 Florian Meister Joseph Worrall Bert Meerstadt MBA’90D €300 to €999 Norbert Albin * Paulo Rodrigues Da Silva Jack Boyer Bruno Mercier * €1 million and above €300 to €999 €2 500 to €4 999 Gabor Arkosy Dominique Descours €300 to €999 MBA’89D André Hoffmann * Stefan Dragu * Hans W. Berg * Alexandre Dias Da Cunha Sylvie Denoble €50 000 to €99 999 €25 000 to €49 999 Matthias von Armansperg * €1 000 to €2 499 Peter Lakin Charles Manby Andreas Jacobs Up to €299 Micky Sacher Marina El Hajj Up to €299 Up to €299 €25 000 to €49 999 €300 to €999 Peter Federico Elizabeth Lank €300 to €999 Ean Lewin * Cynthia Edge-Phillips Alain de Borchgrave d’Altena * Michael Gansser-Potts * Eric Loontjens Niels Madsen Jean-Yves Grisi MBA’86D €10 000 to €24 999 Andreas Tsochantaris Hideaki Mizuno Tommaso Trionfi Samer Azhari €10 000 to €24 999 MBA’88J Johannes Naerger Warren Tucker * Martin Hardens MBA’92J Peter Guberan Reunion Fund Chair Bruno Raguet Henrik Wareborn €10 000 to €24 999 Wouter Jongepier * Elizabeth Rantzen €5 000 to €9 999 €2 500 to €4 999 Robert Woelflein * Bruno Basler * Andreas Tobler Wiet Heerkens Thijssen * €50 000 to €99 999 Up to €299 MBA’89J Eduard Van Dijk €1 000 to €2 499 Henry Engelhardt * Kira Heizer Biber * €300 to €999 €100 000 to €249 999 Jean de Skowronski David Stevens €2 500 to €4 999 Emmanuel Pouliquen Ron Bosch * Pieter Eenkema Van Dijk Loic de Surville Vivienne Cox * Marc-Henri Decrop €10 000 to €24 999 Mark Spence * Bertrand George * €25 000 to €49 999 Konrad Mech Marc Doucet Sanche Adam Goldstein * Christina Theofilidis Lilia Jolibois Dirk Luyten Patrick Michielsen Thomas Hansson Wouter Jongepier * Michael Phillips Ulrich Paessler MBA’91J €300 to €999 Nadia Usunopulu Loudon Owen Frank Steinhoff * Sandra Nebgen Dias Da Cunha Caroline van Scheltinga €10 000 to €24 999 €10 000 to €24 999 Up to €299 Jane Sommers-Kelly Luca Caruso €1 000 to €2 499 Sebastian Grigg Pierre Cassimatis * €5 000 to €9 999 Kozo Suzuki Michael Doherty Ala’a Al-Jabri Hervé Sarteau Joao Castello Branco Andreas Haindl * Jeremy Golding Paul Brynsrud Up to €299 Arndt Ehrlich Patrick Maselis €1 000 to €2 499 Christian Burrus * Paul Beattie Memoria Lewis * €5 000 to €9 999 Humphrey Cobbold * €1 000 to €2 499 Hans-Hermann Rahlmeyer Peter Douglas Sergio Mir Vicken Aharonian * Tim Kingston * Peter Chittick Stefan Ziegler Diogo Rezende Mafalda Pessoa De Araújo Jean-Marc Etlin * Eva Liu Ray Eitel-Porter Perses Sethna * Rick Yan €300 to €999 Claus Zieler * Carolyn Fairbairn Joao Silveira Lobo Walter Baudisch Eric François * €300 to €999 Baudouin Contzen Karsten De Clerck Philippe Vasseur Luis Isava Sanabria * * Recognises alumni who have given to INSEAD for the past five consecutive years. 78 INSEAD Donors Report 2013/2014 Individual Giving: Alumni, Friends & MBA Students 79

MBA’92D €5 000 to €9 999 MBA’94D MBA’96J Up to €299 Ken Ng €5 000 to €9 999 Bernard van Bunnik €5 000 to €9 999 €1 000 to €2 499 Belal Atiyyah Eric Pathe Carlo Moroni Yanni Spiropoulos Georges Burki * €1 000 to €2 499 James Pitt Robert Maegerlein Filipe Santiago Baptista Olivier Van Calster Andrew Hunziker * €2 500 to €4 999 €1 000 to €2 499 €300 to €999 Li Hsin Tsien - d’Oultremont Jan-Teun Van Efferink Jean De Cloedt €300 to €999 Isabel Bonacker Anne-Catherine Chevalier Jean-Marie Vigneron Mika Salmi David Mair James Howe €300 to €999 MBA’97D Simon York Sander Nieuwland * Nicolas Vryghem * €1 000 to €2 499 Jolyon Barker €10 000 to €24 999 Up to €299 François Paulus Laura Freedman Stellios Boutaris * Up to €299 Alexei Beltyukov Steven Achord Michael Schueppert * Diego Labarquilla Basabe Eduardo Damasceno-Ferreira * Susanne Abell-Janssen Olesya Chikunova Gilles Brunschwig Arnaud Sergent Up to €299 Alexandra De Mello Stadler Mark Antonelli Marc Jalabert Barney Burgess Sali Hallsworth * Steven Cuppy Vladimir Yakushev €300 to €999 Tom Bennet Javier Cano Lucaya Jay Herratti George Kourtis Arnaud Francq Pontus Bergdahl €5 000 to €9 999 Cherry Chan Stuart Morstead Dominic Miles * Joanne Harrison-Gross Up to €299 Sergey Grechishkin Carlos Corona Charles Portes Nigel Yeung Ian Potter * David Baverez Bart Markus Andre Covre Anne-Marie Roumieux Leonhard Krauthause * Jonathan Cumberlege Up to €299 €2 500 to €4 999 MBA’94J Nicolas Meeus Claire Davenport Elsbeth Boerboom * MBA’96D Matthias Calice €10 000 to €24 999 Jean Muls Richard Daw John Hall Philippe Cloesen * Damien Salauze €10 000 to €24 999 €1 000 to €2 499 Geoffroy Dedieu John Marcom Stuart Lloyd-Hurwitz Pierre-André Maus Andrew Moore Marco Del Carlo Laura Money Macrae Susan Lloyd-Hurwitz MBA’95J Pedro Guerra €5 000 to €9 999 €300 to €999 Elaine Yao Hans Hammer €5 000 to €9 999 €10 000 to €24 999 Ilona Nemeth Quasha Aidar Gabidoulline Mark-Anthony Holloway MBA’93J Eduardo Moradas Jean-Marc Le Roux Christina Pamberg €1 000 to €2 499 Marc Julien Oren Zeev Jérôme Petit €10 000 to €24 999 €5 000 to €9 999 Bart Blommers Panos Kanellopoulos Deepak Gupta * €1 000 to €2 499 Gérard Despinoy * Dorothée Deuring Up to €299 Rune Kavlie Christophe Inglin * Jean-François de Jaegher Kevin (Ke-yung) Chiang €300 to €999 Carl Bouthillette Adhish Kulkarni Bansi Nagji * Hans Rudolf Keller Paula Kirby McWhinnie * Teresa Cowherd * Jorge Freire Cardoso Marc Lawrence * €5 000 to €9 999 Peter McWhinnie * Graham Hastie €300 to €999 Peter Matthews * Kathy Litalien Joop Heijenrath * Cristina Sapsezian-Flett Claudia Eckert * Norbert Van Der Harst Sophie Li Wan Po Up to €299 Jessica Ma €300 to €999 €2 500 to €4 999 Jerome Kamer * Up to €299 MBA’98J Kleon Makris Alali Hart Jan Keller Manuel de Lancastre Maria Carioca Rodrigues €10 000 to €24 999 William Micklethwait Laurent Musy * Philippe Mauron Thomas Fischer €300 to €999 Patricia Sharma * Andrea Orlandi Tobias Reich Linda Nel Jann Hatz Yanni Paniaras * Nuno Pais Quina Ivan Svitek Petros Papathanasiou Egil Hogna * €5 000 to €9 999 Jeanette Sundberg-Cohon Peri Shamsai Marc Weber Patrick Strafford Hillar Lauri Andrey Kashubsky Didier Theraulaz Nathan Simmons Alexey Khudyakov Up to €299 Mark Melford * Joy Tadaki Up to €299 MBA’95D Keren Misgav Alessio Ascari Constança Monteiro Kiko Thiel Michael Alic Pal B. Ristvedt Markus Bachmeier * €1 000 to €2 499 Jean-Marc Novene Ed Van De Logt * Philip Brackin * Paul Davidson Sadia Khan Ernesto Priarollo €2 500 to €4 999 Edzard Van Holthe Patrick Demoucelle Nicholas Davies * James Maughan Frederick Goltz Christian Van Schoote Kirsten Lange MBA’97J Joaquim de Goes Martin McCourt Emma Goltz Stefan Vlachos José Pereira Da Costa Christina Gitsiou Bechara Raad * €10 000 to €24 999 Keren Misgav Linda Li Wei Peter Schindler Jean-Marie Masse Alexandre Manson Emma Welsh Jeroen Zaalberg * €300 to €999 €1 000 to €2 499 K. Scott Mcafee Julian Wood Andreas Zingg €5 000 to €9 999 Claudia Elisa Soares Jean-Christophe Mieszala * Tony Wood MBA’93D Domnin de Kerdaniel Pierre Sorel Eric Morisset Up to €299 €50 000 to €99 999 Diogo Simoes Pereira P.C. Abraham €1 000 to €2 499 €300 to €999 MBA’98D Rémy Best * Maya Andraos Laurent Buiatti Alex Varelas Beat Bachmann * €1 000 to €2 499 Gilles Bouyer Thomas Flatt €25 000 to €49 999 Max Billingham Bertram Pachaly * Jean Laprevotte Karen Hitschke * Luis Freitas De Oliveira * David Brabazon Marcelo Prieto Martinez €300 to €999 €300 to €999 Leo Cloma €10 000 to €24 999 Philippe Suzan Marcia Poletti * Jack Azagury Caroline Harding Renaud Lagesse Deepak Shahdadpuri Patricia Or Craig Loudon Erik Urnes Francesco Valmarana Keiko Mitsuda

* Recognises alumni who have given to INSEAD for the past five consecutive years. 80 INSEAD Donors Report 2013/2014 Individual Giving: Alumni, Friends & MBA Students 81

Up to €299 €300 to €999 MBA’01J €300 to €999 Fei Pei Chase Emson Fabrice Delville Fredrik Ahlberg €300 to €999 Ingrid Bateman Diogo Quental Christian Fild Olivier de Percin Hank Boot Pierre-Yves Buisson Elsie Chan Andre Schnidrig * Carlos Garcia-Mendoza Jean-Christophe Fare * Mark Hanson * Paul-Olivier Raynaud-Lacroze Pierfranco Di Gioia Endre Szabo Ogden Hammond * Guido Grobbink Scott Jackson Alexandre Douzet Mark Hayes * Madoka Hokamura Fabio Mondini Up to €299 Andrew Foster MBA’04J Jeffrey Kadanoff Nancy Jain * William Vickery * Nestor Casado Holden Sibley * Reunion Fund Co-Chairs Ari Kesisoglu Stefanie Peters Richard Smith * Matthew Stephens Ogden Hammond Cristina Kuo Up to €299 Simonetta Rigo Eric Witt * Lutz Finger Jean-Christophe Lebraud Nuno Miguel Carvalhosa Matthias Schneider MBA’01D Jocelyn Low Erwin Feldhaus Up to €299 Reunion Fund Delegates Steven Smuck €1 000 to €2 499 Anja Madsen Artur Kocharyan * James Copinger-Symes Emmanuel Abate Magnus Sonnorp * Paolo Senes * Samir Maha Shinobu Murakami * Lukasz Dobrowolski Srinivas Artham Claudia Tornquist * Yaron Spigel * Anne-Helene Nicolas Antonius Reittinger Jack McFarlane Leila Azmoudeh Lodewijk Offerhaus Gijs Van Breda Vriesman €300 to €999 Monica Pinto François Bourienne MBA’99J Rafael Orta Kostas Vilos Jaap Bruining * Akash Shah Giuseppe D’Antonio €50 000 to €99 999 Isabelle Paternot Boergel Ludovic Helfgott Katharine Ugeux Lewis David Choe Andrew Phillipps Raul Peris MBA’00J Andrew Howell Yoko Kloeden Kresimir Profaca €10 000 to €24 999 Charles Yuan MBA’03J Alieksiei Martins €2 500 to €4 999 Markus Scheuermann Vincent Gerondeau Amelia Ng Eric-Joost Ernst Up to €299 €5 000 to €9 999 Edgar Senior Notis Mitarachi MP Anne-Hélène Nicolas €1 000 to €2 499 €1 000 to €2 499 Svetlana Karpova * Martin Spit Wassim Sacre Krister Paulsen Jean-Philippe Grosmaitre Gary O’Brien * David Martinon Antonio Stochino Friedrich Rojahn Bernard Tubiana * Markus Moelbert * €300 to €999 Luu Truong €300 to €999 Antonio Stochino Roger Müller Justin Bateman Shelley Tseng Jean-Marc Liduena €300 to €999 Sacha Talmon Peter Spirig Alex Sao-Wei Lee Timo Voswinckel Melissa Roethe Carnathan * Bruno Borricand * Timo Voswinckel Michal Lubieniecki Wei Wang Diederik Van Rappard * Andrei Immoreev MBA’02J Khiloni Mehta Westphely Panos Petropoulos Theo Lindqvist Konstantin Winterstein Up to €299 Up to €299 €250 000 to €499 999 Pierre Salbaing Ying Xiong Ibrahim Abdel Rahim Jean-Philippe Bouillé * Up to €299 Gary Wei Wang Antonio Soler Phoebe Yeh Naman Aggarwal Francois Dagneau Klaus Kassing €1 000 to €2 499 Up to €299 Karolina Albuquerque Brigitte de Vet-Veithen Leandros Kontogouris €5 000 to €9 999 Farid Issa-El-Khoury Peter Grypdonck Alper Aras Jacques Favre Oliver Paul Konstantin Winterstein Julia Kaplan Gaia Arnaboldi Marc Galin Filipe Serzedelo De Almeida €300 to €999 €2 500 to €4 999 Stéphane-Alexandre Badoy María Gil Marin Sophie Bertin Hadjiveltcheva Alessandro Lonardo Nuno Delicado Joseph Baribeau Michael Green * MBA’00D Stéphane Marchand Geetha Panchapakesan Tiago Bartolomeu Andrew Hanff Nieke Martens * Rahul Sharma * €1 000 to €2 499 €5 000 to €9 999 Bruno-Frederic Baudouin Taro Hirano * Olivier Rabiller Jose Zaide Hugo De Stoop Denis Bugrov Antonio Beja Vasily Karasyov Laurent Grandidier Up to €299 MBA’03D Ritesh Bhavnani Fernando Manuel Pires Gonçalves €1 000 to €2 499 Felix Hauser Marina Citus * Roberta Bonomi Rob Rankin * Mike Hawthorne €2 500 to €4 999 Marton Hunek Stéphane Foucaud * Evgeny Burau Spyros Trachanis Craig Martin Enio Shinohara Yann Marmonier Klaus Geissdörfer Massimiliano Caraffa Jan van den Berghe * Rodrigo Santos Silva Guillaume Renaud Rafal Karski * €1 000 to €2 499 Jonas Celebiler Oscar Van Dijk €300 to €999 Yuan Tian Alison Klein Laurent Bertrand Ivo Cicolini Christopher Bischoff * Yann Lorido Kavya Gopal * €300 to €999 Paul Clark MBA’99D Thomas Boehm Plamen Jordanoff Raoul Advani Christopher Coleon €5 000 to €9 999 Stephen Lister * MBA’02D Johannes Withoeft Sri Artham Nathalie Criou Rolf-Günther Nieberding Alasdair Maclay * €10 000 to €24 999 €300 to €999 Leila Azmoudeh Giuseppe D’Antonio Pierre Nilles €2 500 to €4 999 David Ades * Suzie Tan François Bourienne * Bjorn Decard Olivier Gorter * Up to €299 Achraf Cherkaoui Enrico Del Prete €2 500 to €4 999 Up to €299 Jin Akiyama * Shane Chesson Chiara De Mel €1 000 to €2 499 Marat Atnachev Marcello Cavalcanti Christoffer Galbo David Choe Sander Den Hartog Frederic Debruyne * Marita Hemmelskamp R. Masaaki Kobayashi €1 000 to €2 499 Maurizio Cortese Serena Doshi Sebastian Reschke Cavalcanti Ziad Dagher Kaspar Lechner Kwangjae Sung * Christopher Coleridge * Damien Dubourdieu Michel Dauguet Severino Pugliesi Kasper Hansen Kutty Dutta Jean-Pierre Dekker Julio Estrada

* Recognises alumni who have given to INSEAD for the past five consecutive years. 82 INSEAD Donors Report 2013/2014 Individual Giving: Alumni, Friends & MBA Students 83

David Ferrin Bente Saetervoll Krisztina Kormoczi Meng Wui Beh Nicolas Lemaitre Claire Yim Lutz Finger Razid Samdjy Marko Lesic Borhene Ben Mena Alexey Lesin Moon-Ghee Yu Jennifer Flood Doris Schmidt Jun Okada Julien Bentz Yuk-Yee Mary Leung Erik Floor Oliver Schubert Gianni Pisanello Angus Booth Brian Love * MBA’05J Regis Folbaum Candy Sing Visar Sala Cyril Bouchet Bas Ludoph €10 000 to €24 999 Jody Ford Dheeraj Soni Nick Brambring Lily Luo €300 to €999 Saman Ahsani Alan Foster Ariel Spivak Henry Brown Peter Margetis Ilya Arkhipov €5 000 to €9 999 Christine Beilhartz Foster Andrei Stamatian Timothy Burns Peter Maxmin Angus Barnett Julien Blocman Florian Gerhardt Tanuj Suri Santiago Castagnino Karen McCormick Alexis Burckhardt Paul Huysmans John Gilchrist Betul Susamis Unaran Andrew Chang Rob McDowall Hak Chng Gael Gioux Rolfe Swinton Erica Chang Panagiotis Metsis €1 000 to €2 499 Daniele Crose Claire Grant Eugene Tan Philana Chen Phani Michaelides Laurence Byrne * Ferdinand Dalhuisen Dimitrios Hatzichristos Glenn Taylor Benjamin Choy Tali Miller Artem Fomenko Carol Deacon Tom Hill-Norton Andre Tegner Pedro Coelho Amir Mishriky José Delgado S. Marques €300 to €999 Frederic Hoffmann Markus Thadaney Evan Cohen Natasha Mitchell Luciano Diana Katja Berlinger * Simon Holmes Nick Tolley Douglas Cook Rob Moffat Ghislaine Djapouop John Clarkin Andrea Ingrisch Katerina Tsasis Sylvain Coriat Luis Mota Duarte Laurent Doucet Patrick Stalder Lucio Intelligente Coralie Van Wilder Chris Davies Wes Nicol Bassel ElDabbagh Marios Trivizas Dag Jessel Yuriy Vitrenko Vasco De Castro Nima Obbohat Rami Eljisr Andy Jiang Alexander von Malmborg Steven de Gruyter Angela O’Connell Up to €299 Jackie Fan Ricardo Jorge Holger Westphely Côme Derouaux Martin Oppenrieder Kashif Aslam Thierry Ferey Zennon Kapron Ying Xiong Atanas Dimitrov Louise Parlons Bentata Alexandros Bistis Alex Garcia Roland Kastoun Phoebe Yeh Vivek Dogra Shilpa Patel Vincent Decoux * Mohit Gupta Keisuke Kirimoto Alain Dos Santos Maria-Christina Perez de la Sala Patrick Grona Richard Hogan Yoko Kloeden MBA’04D Benoit d’Udekem Guillaume Picot Anastasios Manos * Fadi Hraibi Thilo Knaupp Johan Dulat Jean-Christophe Pitie David Martin * Reunion Fund Chair Marc Hulin Will Koch James Fulton Thomas Plant Paul Thienprasit * Michael Wingenroth Mirza Manar Hussain James Kuiper Antonin Giroux Andrew Priest Song Bac Toh Reunion Fund Delegates Amit Jain Akash Lal Julien Godard Boris Przytulski Thomas Veulemans Ian Bennink Paul Manwell Joel Lau Hian Goh Markus Puttlitz Vasco Borges Mark Mildon Andrew Laurie Ron Golan Letizia Quaranta MBA’05D Anne Charlotte Desruelle Nick Mole Parik Laxminarayan Colleen Grady Carmen Racy €300 to €999 Inna Farian Michael Phelan Raphael Leiteritz Sameer Hajee Jatin Rajput François Aguerre * Thierry Ferey Richard Pulliam Juan Lopez-Valcarcel Ivan Halasz Timm Reutter Bertrand Bacaud Jason Jia Claudio Ribeiro Ana Patricia Martinez Philip Hallenborg Bruno Romand-Monnier Nicolas Hunke * Brian Love Maria-Sylvia Sahmkow Alieksiei Martins Jonathan Halloran Mark Roth Hari Krishnan Mark Roth Elias Sakellis Khiloni Mehta Westphely George Hebard Chetan Sahai Alexander Rodriguez Wilson * Tony Thomas John Saliba Alex Metzler Steven Hegarty Roopak Saluja Lior Yagil Christophe Sanchez Up to €299 Oliver Mosmann Bernard Hernandez Joe Sawyer Frederique Steels Alain Cochenet Chad Myers €5 000 to €9 999 Grace Hu Walden Shing Yusuke Taguchi Jan De Moor Jean Nabaa Michael Wingenroth Abdellatif Imani Hugues Steinier Guo Qing Tang Marius Holzer Anik Nagpal Hiroya Isa Sai Tampi €2 500 to €4 999 Tony Thomas Eric Karst Manuj Naman Xiaoyu Jia Tao Tang Matthieu Lauras Andrea Vallejo Jani Puroranta * Philippe Negre Nandini Joshi Jack Tan Lu-Yi Lim Adele Van Zijl Harvonne Hui Ha Yap Patrick O’Donnell Fredrik Juto Markus Taraba Joycelyn Ng Tanja Ogland Up to €299 Masami Kato Carsten Thode MBA’06J John Parapatt €1 000 to €2 499 Gonzalo Acha Rishi Khubchandani Sven Van Den Bergh €1 000 to €2 499 Cyril Perez Ian Bennink Alessandro Agostini Andrew Kloeden Jan Willem van den Broek Miha Zerko Shoomon Perry Vasco Borges Luis Angel Alexandre Koroleff Alexis Van De Wyer Jon Pinchuk Michelle Cheo Sonia Ansieaux Christopher Kramme * Wolfram von Braunschweig €300 to €999 Jeremy Pocklington Anne-Charlotte Desruelle Jihane Azar Lars Kreutzmann Julien Wallen Elizabeth Chen Tobias Reiss-Schmidt Chirag Doshi Eriko Bagatim Shamik Lala Chris White Guillaume Horreard Benjamin Revillon Ghassan El Kara David Bailey Larry Lee David Wong Partha Seshadri * Friedrich Rojahn Jennifer Hamilton Ramona Barden Wee Hau Lee Aaron Yeo Sander Zboray Olivier Rousseau Johannes Huber Kane Bayliss Christian Lelong Tricia Yeo

* Recognises alumni who have given to INSEAD for the past five consecutive years. 84 INSEAD Donors Report 2013/2014 Individual Giving: Alumni, Friends & MBA Students 85

Up to €299 €300 to €999 MBA’08D Joe Nakhle Yuni Rohmanningrum Keenen Dimitrios Kofodimos Rudi Airisto * Daniele Cappelletti €1 000 to €2 499 Pooja Nanda Kai Roolf Sencer Kutlug Dora Bose Felix Fischer * Alexey Pavlushkin Anna Ong Serge Sacre Sam Kwong Eloi Carbonell Nikolaos Fotilas Philip Salem Jan van Overbeek Emile Salhab Maria Ladusane Alan Casey George Fourniotis-Pavlatos Juliana Pisani Michael Schelper Khaled Lahlo Carolina Clemente Souhil Harchaoui * €300 to €999 Vio Scarlat Amir Segall Frederic Lammens Valerie d’Argembeau Matias Repetto Ying Chen Michael Schelper Jan Van Overbeeke Christophe Larroque Juan Manuel Gomez Cynthia Schweer Beck Chiu * Amir Segall Quirine Van Voorst Tot Voorst Jasmine Lin Georges Houtappel Valerie Coscas Burcu Seslioglu Louis Versele Andrew Macdonald Up to €299 Shota Ishii Catherine Waldby Noa Silberklang Marcelo Vicintin Christos Manolis Robin Gandhi Nitin Lamba Julia Stubben Domenic von Planta Maryline Marquet Jan Justus Up to €299 Erik Lautier Abhay Varma Benny Yoshpa Bertrand Martin Milan Kulich Silvia Benedetto Veronica Lee Nadjia Yousif Nadjia Yousif Aleksey Martynov Margaret Malewski * Christian Berghout Nicolas Legrand Marta Zareba Nadir Zafar Christophe Meugnier Annabel Noth * Julian Catchick Greg Li * Dheeraj Motwani Lily Lin Pascal Noth * Stuart Fitzroy €1 000 to €2 499 Up to €299 Sven Henryk Mueller-Tempel Rainer Maerkle * Fabricio Pettena Christophe Hamal Virginia Brumby * Nada Abdelnour Nigel Muyambi Colin Mutchler Jonas Samsioe Jeremy Huycke Grigory Fedorishin Olivier Adam Joe Nakhle Udi Nachmany Kent Lee Mads Jensen * Hugo Angelmar Priyanka Nath Amir Ofek MBA’07D Chandra Joan Margetis Anna Ong * Imran Aslam Hieu Nguyen Tony Ren John Mullally Christian Rebhan Youssef Assabghy €2 500 to €4 999 Kirsten Nijsten Guillaume Rigoigne Abraham Papakirillou Philippe Savariau Vinay Badal Gilberto Gaeta Eric Nishimura Guillaume Sagez Paul Rosenbaum * Richard Smith Raka Basu Cintia Tavella Gomez Gustaf Nordback Yoji Sawada Alexander Salzmann Raphael Bick Safia Ladak €300 to €999 Ben Jin Ooi Rajiv Shankar Iordanis Sarafidis Tom Birkefeld Dries Vande Velde Davide Archetti Jasrin Singh Giulia Bortoletti John O’Shea Moritz Butscheid Jamie Staal €300 to €999 MBA’09J Thomas Brunner Nicolas Pardo Lanzetta Yulia Butscheid Roland Stapper * Riad Chowdhury Reunion Fund Chair Alessandro Cannarsi Rohan Parikh Samuel Castelo Federico Suria Andy Holley Virginia Brumby * Tara Carella Sergio Pereira Wen Ying Choy Amit Vij Daniele Santini Gunish Chawla Alex Pericleous Reunion Fund Delegates Lars Windhorn Josefine Staats Sebastien Demole Artem Chestnov Nosh Petigara Patricia Yeh Nada Abdelnour Joseph-Patrick Dib Shehryar Piracha Up to €299 Emmanuèle Claeys Mohamed-Ali Baccar McCall Dorr * Juliana Pisani Andreas Hilz François De Bodinat MBA’06D Sophie Eisenmann Alexander Drummond Odmaa Purevsuren Terence Leung Tahira Dosani €1 000 to €2 499 Jad Ellawn Jad Ellawn Greg Putka Raffaele Maiello Robyn Doyle Chirantan Barua Guillermo Grande Danielle Geara Marc Rademacher Mark Matthews Guillaume Dupont Hill Hardman Nadia Rahim €300 to €999 Jai Mirpuri Renee Grossman Sophie Eisenmann John Hardman Mohan Rajamohan Hemant Aneja Joao Mora Emiliano Guainella Desiree El-Chebeir Nat Hautavanija Julian Ratcliffe Laurent Issner Wouter Stoutjesdijk Hill Hardman Eric Eyberg Harinder Janjua Thomas Robert Yubo Liu Judy Huang Peter Faulhaber Edouard Janssen Miquel Roca MBA’08J Harinder Janjua Amanda Floyd Up to €299 Yasmin Meyohas Jensen Marc Georgiou Michael Rochon €1 000 to €2 499 Edouard Janssen Marwan Badran * Antonis Kondis Fernando Geraldi Bertrand Romieu Robin Daina Edward Touret Mads Jensen Min (Sandra) Lin Mathieu Grodner Daniele Rovere Arnaud Henin * Jens Johansen €300 to €999 Sebastiano Macchi Reene Grossman Joel Santos Chwee Sing Koo Jamil Kabbani Sandra Durth Sarah Mahmoud Emiliano Guainella Xanthos Sarris Sébastien Lacroix * Salman Tarin Jan Koelema Marta Margolis Olivier Gudin Eloy Sasot Shun Maki Antonios Kondis Stefan Margolis Christoph Henseleit Vio Scarlat Sandeep Menon Up to €299 Mariya Ladusane Miguel Munoz Alastair Horrocks Ritu Singh Marta Obrebska Erik Berden Frederic Lammens Natalie Myshkina Yawen Hsu Niranjan Soni Gauthier Van Eetvelde Philip Breesch * Christophe Larroque Kyoko Ogura Judy Huang Ilias Sousis Bernd Wendeln * Alexandra Commelin Arie Orlovsky Guilherme Issa Tim Spillane Timothy Cosulich Gaby Lacuesta Emanuel Petros Carol-Luc Jonard Ferdi Steinbeis MBA’07J Etienne Lecompte Geneviève Maltais-Boisvert Robert Pike Faizal Karmali Chris Stone €1 000 to €2 499 Johan Reynaert Stefan Margolis Omega Poole Keith Katz Jaap Strengers Edouard Muuls Sebastiano Macchi Farhad Rahimov Jan Koeleman Julia Stubben Olesya Struk-Kliapatski McCall Dorr *

* Recognises alumni who have given to INSEAD for the past five consecutive years. 86 INSEAD Donors Report 2013/2014 Individual Giving: Alumni, Friends & MBA Students 87

Thomas Studd João Pedro Carneiro de Desiree Fung Barboza Malcolm Murray Up to €299 Up to €299 Mendonça Vytas Gaisrys HongJoo Sun Aziz Ndiaye Pol Brouckaert * Paris Kallitsantsis Julien Cazorla Gadi Gefen Eemei Tang Laurent Neuve Eglise Jun Casa Santa George Papadakis Enrico Cesenni Annette Gevaert Vanessa Tan Victor Ong Sanchit Chokhani Michelle Salomon Mazunzo Chaponda Bas Gevaert Flávio Teixeira de Oliveira Andrey Panov Mark Dembitz Alexandre Sanguinetti Rachna Chowla Alexandru Ghita Radhika Thakker Clement Pasquier-Desvignes Tori Fahey * Francois Van Bogaert Julien Dalamel De Bournet Giovanna Giamundo Vijay Thirumalai David Piehl Themis Gkion * Jinzhou Yi Ibrahim El Ghoul Gianluca Gindro Keiko Tone Aristeidis Pilitsopoulos Dimitris Kossyfas Fei Zhang Brice Gilbert Amit Golan Hang Tran Konstantin Popov Mihai Teognoste Oskar Handrick Shael Green Sylvain Triadou Ahmad Rammal Yves Warnant MBA’12J Beccy Turner Andree Harahap Sebastian Grobys Etiene Ramos €1 000 to €2 499 Bowen Uhlenkamp Enzu Jeon Alvaro Guerrero Morras Ketaki Rao MBA’10D Michael Steiger Hidde Van Melle George Kurian Maroje Guertl Elena Revenko * €300 to €999 Victor Wan Chloe Lavedrine Herve Guisseau €300 to €999 Jan Riehle Tushar Agarwal Sabine Weissinger Kamal Parida Kajal Gupta Yulia Alikhanova Jordane Rollin Noriko Hanada Renato Weiss Kimberley Stokes Nupur Gupta Yen Lee Gautier Rousseau Per Johansson David Widmer Philippe Turrian * Shikha Gupta Eugene Woo Almir Salimov Rick Morioka Waleed Zamel Evgeny Yakushkin Keno Gutierrez Alix Samuelson Tao Liu Up to €299 Arpita Halgeri Up to €299 Samarth Sanghavi Bo Luo Pim Altena MBA’09D Gordon Hamilton Abhijit Agate Lluís Sarrado * Sabrina Ng Ashley John Anna Hancock Reunion Fund Chair Keji Ajayi Tobias Schmitter Vanessa Vincent Karl Malmstroem Rachna Chowla Tiago Almeida Daniel Hernandez Manish Kumar Singh Hayat Horma Ben Babana Up to €299 Reunion Fund Delegates Henry Arias Amortegui James Sitsankul MBA’12D Davit Hovhannisyan Juan Bengzon Ankit Bisht Cathy Arnold Ajay Sohoni €300 to €999 Ahmed Ijaz Bertrand Fallon-Kund Adriana Buchler Johannes Ballestrem Isaac Souweine Rénald Bejaoui Tushar Jain Jeannie Kwok Mauricio Comi Victor Barrero Calderón Cristina Stefanita Antoine Guillou Paloma Jimenez Mazuelos Kim Lauritsen Grant Crosse Sami Bejjani Panagiotis Stergiopoulos Seán Hogan Albert Jun Mounir Maurice Doumani Miranda Berkhof Karthik Subramanian Breno Zaban Carl Kalapesi MBA’11J Samantha Fisher Vishal Bhargava John Timothee Tanya Kalinina €300 to €999 Up to €299 Caroline Fricke Hannes Braendli Claudia Torres Mona Kennedy Paul-Evence Coppée Levent Bas Bas Gevaert Layal Bulbul Giammarco Tosi * Fabian Klinz Adam Emilianou Andrew Charbin Shikha Gupta Michael Caracache Cheryl Tung Jonathan Kolb Glenn Huybrecht Yannis Chatzidakis Alberto Salvador De La Hoz Gonçalo Castelo Branco Albert Valcarcel Sitja Alex Kraynyukov Henrietta Ko Ludovic Choppin Tanya Kalinina Lee Ling Chow Ugo Valensi Rohit Kumar Kees Van Lede Ayman Kichly Soham Lamba Mauricio Comi Mareike Waechter Wai Keng Kwok Siddharth Mani Georgia Kokkini Aziz Ndiaye Nathan Creswell Chong Wang Aude Lamarche Benjamin Reynaud Carolyn Lek Chhabra Meenakshi Luis Flavio Da Cunha Araujo Tomas Wiedermann Soham Lamba Zhengyu Zhou Pranav Mehta Simon Phillip Joris De Boer Marcus Wilson Debbie Lam Maria Vanessa Raymundo Yavuz Demir Alex Witt Up to €299 Yubin Lee MBA’13J Gautier Rousseau Seyi Dere Joanne Yun * Sebastien Allard Evgeny Levchenko €300 to €999 Almir Salimov Janhavi Desai - Parikh Oktawian Zajac Sagar Chandaria Andrew Levitt Gwen Vassy Manish Kumar Singh Harald Deubener Tamas Zelczer Abhishek Gakhar Konstantin Liakhov Adriaan Bloys van Treslong James Sitsankul Orhene Dhaouadi Raphael Zennou Ivy Kim Anne-Sophie Liduena Pei Di Chin Agnes Swierta Sheryl Dodd Peng Zhang Mathias Korder Fort Monica Li Huda Treki Mounir Maurice Doumani Joy Zhu Adrienne Minster Up to €299 Susanne Loehr Stian Drageset Andrey Zimenkov N.K. Modi Shaili Agrawal €1 000 to €2 499 Adele Lomax Michael Drinkwater Bud Nolan Jaideep Dhanoa Valentine Berghmans Javier Lopez Aranguena Isabelle Finger MBA’10J Sébastien Perron-Carle Jing Jin Meenakshi Chhabra Samantha Fisher Dora Lui €300 to €999 Tony EdehJohannes Jarlebring Sabine Flechet Naush Malik MBA’11D MBA’13D Suksiri Kulvaraporn Vincent Marchal Brenda Wong Bermbach Marijn Flinterman €300 to €999 Up to €299 Pedro Rivero Gonzalez * Sergio Martinez-Burgos Maria Levanti Tom Foster-Carter Matthias Bloennigen Nikolas Aletras Paul Medrisch Akiko Nomura €300 to €999 Caroline Fricke Andreas Durth Lydia Forte Francisco Meza Campuzano Nader Antar Peter Fridell Satoko Kaneko Lunah Nevhutalu Mohamed Mirza Amélie Aurel Hendrik Fröhlich Ivan Kornoukhov Panos Papazoglou Ben Moens Anna Fromme Coralie Zaccar

* Recognises alumni who have given to INSEAD for the past five consecutive years. 88 INSEAD Donors Report 2013/2014 Individual Giving: Alumni, Friends & MBA Students 89

Global Executive MBA Tsinghua - INSEAD Executive Development Young Managers €2 500 to €4 999 Group donations Programme Thomas C. Barry Programme Executive Programme Programmes Christopher Cheng AMP Participants ‘14D FBL €300 to €999 Christopher Franck Class of MBA’63 €10 000 to €24 999 €1 000 to €2 499 Advanced Management Hilde Deschoemaeker ‘07 Ilian Mihov Programme Greek Friends of INSEAD Philippe Lacoste ‘06 Gerald Lee ‘12 Up to €299 Narayan Pant INSEAD Alumni Association €5 000 to €9 999 Luc Sterckx ‘86 Joannne & Herb Shoveller €300 to €999 €5 000 to €9 999 Belgium Frederik Vladimir Declercq ‘90 Sajan Koch ‘08 Soeren Seitz ‘10 Hoon Ping Ngien ‘12 €1 000 to €2 499 Magdalena Sacre Svensson ’13 Craig McKenna ’06 INSEAD Alumni Association Michael Wee ‘10 Andrea Bertoldi €300 to €999 Denmark €2 500 to €4 999 Adeline Lim ‘11 Marta & Pekka Hietala Paul van Grevenstein ‘01 Transition to General INSEAD Alumni Association Axelle de Kerdanet ‘09 Luc Liu ‘13 Paul Skinner Bruno Chevolet ‘04 Management Canada Up to €299 Gabriel Szulanski €1 000 to €2 499 Sally Williams-Allen INSEAD Club of Singapore Ming Ai Ong ‘12 Up to €299 Up to €299 Gregory Cattin ’04 The 2013 INSEAD Americas Forum Avalyn Lim ‘14 Vitor Sevilhano Ribeiro ‘83 Xander Heijnen ‘11 €300 to €999 Marcio Fujita ‘04 Ching-Eng (Jason) Png ‘14 Carlos Teixeira de Moraes Rocha ‘98 Luc van Becelaere ‘12 Rakiba Chowdhury ‘09 Eelo Gitz Marc Bihain ‘99 Haris Sgardelis ‘13 Margherita Fontana ‘09 Etienne Haumont ’99 Up to €299 Cyril Thiebaut ‘12 INSEAD gratefully Labros Digonis ‘00 International Directors Christos Adam €300 to €999 PhD Programme Ana Barreto Albuquerque ‘09 Programme Bassam Alaujan acknowledges Ariane Rossi ‘ 06 Massimo Scarcello ‘13 Ioanna Archimandriti €1 000 to €2 499 Up to €299 Marijn Smit ‘06 Neil Bearden all donors who Gabriel Szulanski ’95 Amaury Dauge ‘08 Programme Supérieur pour Luc Marie Jan Sterckx Cynthia Benoit Sarazin Shantanu Bhattacharya Fares Khaddour ‘08 €300 to €999 Dirigeants wish to remain Mauricio Teixeira Dos Santos ‘08 Esther Chang Rajdeep Patgiri ‘07 €1 000 to €2 499 Jack Wang ‘08 Honorary Alumni Rajeev De Mello anonymous. CG Zhou ‘08 Up to €299 Blaise Matthey ‘00 Barbara Ebert Nynke Fautrat Valerie Gilles ‘09 Luis Almeida Costa ‘95 €1 000 to €2 499 Stavros Ioannou David-Alexandre Guez ‘09 Hakan Ener ‘09 International Executive J. Frank Brown Greg Jakubowski ‘09 Programme David Jemison Petri Tuomola ‘09 €300 to €999 Helle Jensen €2 500 to €4 999 Ludo Van der Heyden Mads Larsen Raed Adawieh ‘11 Executive Master Remon Veraart ‘11 Bettina Langenberg ‘97 * Maria Los Yukiko Fujio ‘12 in Consulting and Anna Mbow €300 to €999 Yasemin Okur ‘13 Rolie Mouandza Coaching for Change Marijke Pubben ‘92 Friends, Faculty & Staff Athanassios Peppas Up to €299 Sander Geelen ‘97 Corinne Ravault €10 000 to €24 999 €50 000 to €99 999 Deepa Chatrath ‘04 Christophe Rene Martine Van den Poel ‘03 Up to €299 Thierry Breton Paul Jansen ‘04 Alice Santos Philippe Haspeslagh ‘07 Alexander Krikis ‘87 Sandy Ogg Justin Chen ‘05 Austin Tomlinson Jean-Pierre Bienaimé ‘93 Patrick Klein ‘06 Up to €299 Marina Vergou Thanassis Kefalas ‘98 €25 000 to €49 999 Su Lin Goh ‘08 Ivi Vigas Sai Ram Nilgiri ‘05 Helen Henderson ‘04 R.Todd Ruppert Heng Hua ‘08 Christen Wise Pantelis Lamprou ‘09 Tin Lin Lee ‘08 €10 000 to €24 999 Claudia Zeisberger Gianfranco Olivieri ‘08 Management Acceleration Martine & Philippe Haspeslagh- Marcus Hilger ‘09 Master of Finance Van den Poel Programme Karan Mohla ‘09 Patrick Snowball Artemy Voroshilov ‘09 Up to €299 €300 to €999 Peter Zemsky Rudolph Bella ‘11 Sarfaraz Ahmed ’14 Rosalind Pereira ‘07 Florent Dhaynaut ‘11 Aaron Vale ‘11 €5 000 to €9 999 Tassos Los ‘12 Thomas Perkmann ‘11 Scott Peak ‘12 Elisabet & Manfred Kets de Vries- Jee-Young Kim ‘12 Up to €299 Engellau Miguel Bagôrra ‘13 Katja Boytler ’10 Javier Gimeno Jasmine Oh ‘13 Raymond van Eck ’11 Quy Huy Stéphanie Villemagne ‘13 Audrey Scozzaro Ferrazzini ’12 Norberto Morita Kate Owens ’13 Subramanian Rangan

* Recognises alumni who have given to INSEAD for the past five consecutive years. 90 INSEAD Donors Report 2013/2014 MBA students: Classes of MBA 14J & 14D 91

MBA students: Andrei Ivanenko Francisco Meneses Marc Schuster Mazen Jabado Elena Minardi Rebecca Semrani Classes of MBA 14J & 14D Zohaib Jalal Aditya Mirchandani Ashwin Seshadri Ingo Janisch Olga Mironova Ajay Shivdasani Gilles Jaouen Wafic Mounla Monica Sigrist João Jara De Carvalho Vale Prashant Mukherjee Karambir Singh It is a tradition at INSEAD that students make a first donation to Almeida Fadi Muna Mervin Singh Mikael Johansson the school through a collective effort towards a special project. Imran Musaev Madhurina Sinha Angela Johnson Shai Muthana Mahmoud Sirry A majority of students in the classes of MBA 14J & D chose to Pål Andre Jordanger Rohit Naag Rumbidzai Sithole support the INSEAD Robin Hood MBA Scholarship Fund which Nijo Jose Ido Naftaly Shreyas Srinivas supports a deserving MBA student in each class. Zach Kapellakis Saad Nassar Dmitry Stakhanov Waichiro Katsuda Tilo Neumann Mike Stamp George Keiser Tu Ngo Lisette Steins Tahir Khan Davide Nicola Itamar Stern MBA’14J Shymaa Binbrek Bruno Elias De Sousa Aditi Kibe Daniyar Nurskenov Lara Sun Gemma Bloemen Mehmet Energin Thomas Kirschstein Malvika Surendra-Pai €1 000 to €2 499 Gillian Gamuchirai Nyamayi Thomas Blondet Philippe Esteve Florian Kloessinger Maria Sveshchinskaya Nilla Lansman Anthony O’Byrne Julien Bouverot Ignacio Fantaguzzi Kristy Koh Catherine Sylvain Vladimir Nazaryan James O’Hare Constance Breton Jorge Fernandez Vidal Shruthi Komandur Rana Taghdisi Tiago Palma Joni Andrea Ong Marie-Clotilde Brianchon Max Fieguth Dylan Kong Josselyn Padilla Quinto Vaibhav Talwar Mezier Briefkani Juan Figar De Lacalle Fredrik Kongsli €300 to €999 Kunal Parekh Alexandre Tanaka Bernardi Jonathan Brugge Angela Flaemrich Jungeun Koo Jeremie Certes Su-Hyun Park Vitaliy Tarasov Rahmat Budiardjo Henry Fraser Krystal Kovalick Nicoleta Hurubeanu Sam Patel Ankur Thakore Linna Bun Eva Frommelt Eszter Koves Emmanuel Lange Veronika Patkai John Theodorakis Alessandro Callioni Daniel Fry Yun Jin Ko Philippe Reynier Ted Paulus Tom Tilley Jaime Calvo De La Prida Coralie Gache Brinda Kugapala João Paulo Seabra Santos Peter Perquy Laurent Toinet Frederico Capelao Christoph Ganahl Aigerim Kulseitova Lorenzo Sormani Marco Piazzalunga Yaroslav Tomashyk Felippe Carsalade Stephan Garabet Tobias Kung Ayo Tanimowo Michel Pilot Alessandro Trabaldo Togna Luis Castro Renata Gaspar Mariko Kusume Maria Fernanda Valencia Remi Piwowarski Zagita Truhandiaz Jeffrey Chalmers Caitlin Gill Olivier Kuziner Harsh Podar Ana Margarita Trujillo Michael Chang Mudit Goenka Jessica Lamothe Vargas Up to €299 Camila Pombo Diaz Thanassis Tsamis Joanne Chehab Berthilde Goupy Sok Yih Lam Mabohlale Addae Maruti Prasanna Eileen Tu Joy Cheng Herman Gouri Christian Westlye Larsen Ali Agha Puneet Raj Pinar Tunakan Alexandra Chenguelly Stefanie Grabner Mattia Lattanzio Ubaldo Aguirre Sharanya Ramachandran Alican Ulke Yam Cheng George Grumbar Kathie Lewandowski Saud Alaujan Miguel Ramos Nikhil Vadgama Yury Cherevan Teymur Guliyev Anna Li Ronja Altmann Leili Rasouli Juan Pablo Valdes Karen Chiao Adya Gupta Audrey Li Matthias Amble Waqas Rasul Maria Fernanda Valencia Imran Choudhury Manuj Gupta Leon Li Nikhil Amin Deepak Rathee Gideon Valkin Andrzej Ciupak Pradyumna Gupta Jonathan Lim Tomas Ancelovici Suhrcke Marc Reinke Deborah Van Dam Sommers Caroline Cochin De Billy Roohi Gupta Donnie Ling Thomas Antonioli Ricardo Renno Nicolas Verdon Anna Collier Recabarren Shash Gupta Christian Lippler Hisashi Arakawa Philip Rogers Luca Verre Santiago Concha Ellen Gursanscky Virro Liu Miguel Arias Domecq Alberto Rossi Lodovico Viola Dognime Coulibaly Frederic Guyard Allan Lopez Valencia Govinda Avasarala Vangelis Rousos Veena Viswanathan Brendan Cronin Bo Harrison Nanne Louw Sara Axelrod Ozgur Saglam Christoph Von Planta Ceyda Dagdelen Jeff Hatcher Winnie Lo Ayla Azizova Matthieu Sagnier Chen Wang Donatas Dailide Tim Heal Bernardo Lucas Ingmar Baer Kenta Sakakibara Julie Wang Antonio D’Angelo Ted Hickey Roland Luethy Sebastian Bak Karmini Sammantha Murthy Mi Wang Bhuman Dani Linda Hogel Tiago Machado Murat Balci Elia Sasia Qingqing Wang Thomas De Clerck Jayky Hong Russ Macmillan Deniz Barisik Yulia Savitskaya Ahson Wardak Philippe De Schoutheete De Wayne Hsu Bartosz Majewski Helene Baudon Arnold Scaglione Ed Warrick Tervarent Daniel Hund Naseer Mandozai Myriam Bau Mayssa Scheib Heidi Wildemann Damien Despinoy Wenqi Hu Nikolas Mannio Samuele Bellani Andrew Schill Katherine Wilson Qianyu Di Yoshiaki Hyodo Charles-Henri Martin Adib Benazzi Julian Schroeder Waenyod Wongtrangan JD Doraiswamy Eugenia Iarina Alexandre Maurice Raphael Bihler Francois Schumayer Alexander Wrey Sabrina Dorman Karol Ignatowicz Lana Mazahreh 92 INSEAD Donors Report 2013/2014 MBA students: Classes of MBA 14J & 14D 93

Subu Wuppalapati Bruno Barros Marroig Cesar EL-Khoury Karen Ko Ian Napier Gurpreet Singh Lei Xia Silvia Brigitte Baumann Pablo Elola Tur Pavel Kovalevich Yaniv Benjamin Neu-Ner Noorneet Singh Zhouping Xu Mostafa Bedair Metwalli Sinan Erhan Pinki Kumari Andrew Noble Bret Smart Lydia Yang Jean-Patrice Bellier Andre Fadel Lev Kundin Sarah Camille Oblepias Joseph Smolen Wissam Yassine Erin Bellsey Joao Figueira Sebastien Lai Maria Ochoa Sepulveda Olivier Stapylton-Smith Rudy Yazbek Diego Bernal Uta Fischer Sahasranaman Lakshmanan Ahmet Okay Marcel Sebastian Stötzel Jason Yee Loong Carl Mikael Berner-Eyde Dmytro Fomin Amy Landwehr Shirley Okereke Iva Takovska Brata Yudha Alvin Bharata Marie Francis Sarah Jane Langham Abhishek Pandey Serene Tan Alice Yung Muhammad Omar Bilal Adam Jan Fudakowski Mads Graves Larsen Dular Pandya Farjad Tanveer Aleksander Zahariev Nikolai Boker Dominic Gallello Haesung Paul Lee Pankhudi Pankhudi Wei Tao Kun Zhao Laukik Bothara Ariane Gan Kar Wai Lee Varun Pardiwalla Elvis Terigin Sasha Zhdanova Doron Brenmiller Howard Gani Miao Xin Li Sudarshan Pareek Paolo Testoni Roman Zhdanov Andrew Broekelmann Ying Gao Warren (Miaoxin) Li Andreas Petsas Chui-Jean Tham Joseph Sen Zhou Konstantin Bykhanov Ketaki Garg Luca Liberti Oscar Patrick Pobre Arun Varghese Thomas Lin Zhu Gonzalo Campuzano Sarah Gass Jingqing Lin Diego Prina Ricotti Yunying Tian Kiril Zlatkov David Cao Jan-Ole Gerschefski Lena Sofia Lindvall Leonardo Principe Minghong Eugene Toh William Cappelletti Maria Ghibu Qinjie Liu Adam Tyler Purviance Carmelo Truscello MBA’14D Maximiliano Jav Casas Sanchez Preston Gitlin Xiaoxiang Liu Ramya Ragupathi Meng Fai Tung Yizhe Cen Nicolas Godin Rafael Roland Loehrer Kanika Rajdev Steven van den Bosch €300 - €999 Edgars Cerps Gonzaga Gomez-Albo Sanchis Bertrand Louvard Kaustubh Rajnish Maarten Van Hoek Jin Chung Amine Chabbi Umber Gosain Nicolas Gaspar Lucciarini Yoni Ram Joost Van Kempen Christian Kruse Kar Fei Catherine Chan Pierre Gourdain Jacob Lund-Andersen Luiz Fernando Ramos Szilvia Varga Monica Chan Rory Green Richard Mabey Shruti Rastogi Diego Vargas Vallejos Up to €299 Charissa Anne Chau Guanyi Gu Zulfiqar Ricky Mahar Varun Ravichandran Vladimir Varnavskii Elias Aad Zakaria Chehab Camila Guarnieri Kohler Oliver Makins Maarten Rijs Jan Jasper Veldhuis Nazia Abdul Sathar Wen Cheng Ashmita Gupta Gaurav Malik Anjum Rishi Laure Velten-Jameson Thomas Adank Guillaume Cheron Aanchal Gupta Arvind Manian Oleg Rogalev Georges Vuong Rashmi Agarwal Ruo Yun Chong Nadezda Guzovina Zdravko Marijic Marc Etienne Rousseau Lucila Wagner Peeyush Agarwal Tarini Chopra Edwin Hage Lluis Mateo Dilme Seungbak Ryu Natalia Wagner Sahaf Ahmed Yi-Chieh Chou Alireza Hajabbasgholi Ivan Matov Petr Sadilek Ruhuan Wang Tazreen Ahmed Raphael Coelho Achraf Hamoud Alice Medori Kaissar Salamy Hao Wei Ridhima Ahuja Cristobal Correa Fadi Hariz Aman Mehra Kyle Salvatora Felix Wickenkamp Ameera Akkila James Cotton Praewpatra Harnbumrungkit Nimit Mehta Alexander Tomin Sarmiento Christen Wise Alexandra Elisabeth Albers- Chao Cui Khadija Hasan Rinki Melwani Mayank Saxena Sarah Wleklinski Schoenberg Paulo Cunha Bridget Lee Healy Mareike Mewes Hadas Schragenheim Adam Wos Mohammed Al Kuraishi Jacques Dagher Richard Hillen Fong Tien Miao Joe Sebastian Hong Wei Wu Latifa Almaraj Steve Dakayi-Kamga Zain Hirani Adnan Sohail Mirza Florentin Didie Servan Borys Yakovlev Shadi Alsuwayeh Duc Dao Andrew Hoffman Nadir Mirza Soni Shah Qiran Yu Thiago Alvarenga Alienor De Buyer Robert Christopher Hollas Rashad Mirzayev Krutin Shah Yolanda Yu Peng An Iliana Ilieva Deevska Neil Wayne House Ole-Marius Moe-Helgesen Vishal Ajmera Shah Ernestina Zakrevsky Rowan Anders Justin De Lanauze Han Huang Lai Lei Mok Abhishek Shankar Ram Ryan Yuan Zhao Johnny Antonios Alvaro Del Carpio Iaf Inconnu Sergio Andres Montenegro Irina Shigina Caroline Zimmerman Jean-Pierre Aramouni Kevin Delissy Massinissa Ibrahim Juan Moreno Martinez Paul Shin Christiane Zogbi Alya Armali Vikram Dhaliwal Alexandra Ignatyeva Nikola Najdovski Rohit Shrivastav Amy Zwanziger Tushar Arora Riya Dhawan Vladimir Ioseliani Georges Nakhle Romain Sigot Frank Niranjan Arulpragasam Yi Ding Bindya Jacob Rami Atme Marc Donnadieu Bradley Allan Jacobs Cristina Atomi Thiekoro Doumbia Ajay Jayaraman Imad Atwi Romain Drauge Ik Jae Jeong Adomas Audickas Hong Du Yin Ji Vakhtang Babunashvili Bastien Durand Vanessa Karvela Phillip Spandre Badger Vishal Duriseti Ankit Kedia Guilherme Augusto Saliba Barbone Roy El Chab Majdalani Amos Song Jie Kew Brice Baro Nayla El-Haber Mohammad Husain Khan Matthew Barracosa Najla El Khatib Antoine Khawam

We have made every effort to ensure the accuracy of our donor lists. If, however, there is any error or discrepancy please send email to [email protected], Stewardship and Donor Relations Services. Contact information

We will be delighted to provide you with Stewardship and Donor Relations Services information about giving to INSEAD. Helle Jensen, Associate Director Please contact us. [email protected] Tel: +33 (0) 1 60 72 93 25 Advancement and Alumni Relations Joanne Shoveller, Associate Dean Corporate Relations [email protected] Hilde Deschoemaeker, Associate Director Thank you Tel: +33 (0) 1 60 72 93 55 [email protected] Tel: +33 (0) 1 60 72 90 54 Annual Giving (INSEAD Alumni Fund) Nynke Fautrat, Associate Director Legacy Giving [email protected] Christen Wise, Director Tel: +33 (0) 1 60 72 42 16 [email protected] Tel: +1 (408) 440 1864 INSEAD Europe Campus Boulevard de Constance 77305 Fontainebleau Cedex, France Tel: +33 (0)1 6072 4000 Fax: +33 (0)1 6074 5500

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