Annual Report 2018 / 2019 1 CO Contents ntents The 2018/2019 Our Year in Review report is developed by INSEAD Communications through a collaborative process that involves the entire school. We thank everyone in the INSEAD community – students and participants, alumni, faculty and staff – for your contributions to the school’s success this year. It is an honour and privilege to report our accomplishments and how this community is a force for good around the world. 2 Leadership 28 Faculty & 56 Infrastructure 2 From the Chairman Research 56 Digital Infrastructure and Dean 28 Overview 57 Europe Campus 4 Board of Directors 30 Recognition & Awards 58 Asia Campus 5 Executive Committee 33 New Faculty 59 Middle East Campus 38 INSEAD Knowledge 39 A Force for Good 6 Special Features Top 10 60 Constituencies 7 Business and Society: 60 Advisory Council A Year of Impact 60 Fondation Mondiale 10 INSEAD in San Degree INSEAD Francisco 40 Programmes 60 Fondation INSEAD 13 I is for INSEAD and 61 International Council 40 Master Degree Innovation 61 National Councils Programmes 16 Thought Leaders: 42 Class Statistics Profiles in Research 43 Doctoral Programme 19 The Campaign for 44 Career Development Graduating INSEAD Centre 67 Classes 21 60 Years of 47 Employment Statistics Excellence 67 MBA Class of December 2018 70 MBA Class of Executive Finances & 48 July 2019 24 Endowment Education 72 Global Executive MBA 74 Tsinghua-INSEAD 48 Open & Customised 24 Finances Executive MBA Programmes 26 Endowment 75 Executive Master 50 Online Programmes in Consulting and Coaching for Change 52 Advancement 52 Alumni Engagement 54 Giving to INSEAD 2 3 L Over this past academic year, INSEAD’s INSEAD Thought Leaders: Profiles in Research eaders resolve has strengthened into action. We Our world-class faculty is often recognised established the Hoffmann Global Institute for for their thought leadership and research, our H Leadership ip Business and Society to champion prosperity case studies are international bestsellers and with positive social impact, introduced our professors sit at the top of the Thinkers a Master in Management programme to 50 list of management influencers. respond to the changing educational needs of our global society and launched the Campaign ANNUAL REPORT 2018/2019 Innovation in Focus for INSEAD to tackle world-scale problems, We scaled up innovation through the further our ground-breaking research and LaunchPad at STATION F, the addition of reimagine the future of business. Blockchain Research Institute co-founder Don We have also made progress in several areas Tapscott to the faculty, Executive Education crucial to our mission. The long-planned on design thinking and AI, and Tech Talks on San Francisco Hub for Business Innovation the Middle East Campus. From the Chairman and Dean opens in 2020. The Europe Campus Renewal In this year’s annual report, we are pleased is moving into the design phase with support to share more about these milestones in our from the Fontainebleau community. Our Special Features section, as well as facts, Middle East Campus is growing in size and figures and highlights from around the school. This academic year has brought the powerful need for stature. Our number of resident faculty – and business as a force for good into focus. In a year defined the quality of their research – has reached an The 2018/2019 Annual Report showcases by new risks and new opportunities, INSEAD engaged all-time high. a year of achievement by our INSEAD community – faculty, students, alumni, donors, our community and leaders worldwide to gain a deeper This has been a year in which INSEAD has supporters and staff. Such accomplishments innovated, inspired and mobilised our global understanding of changes in the world. are only possible through dedication, hard community to be a force for good, now and work, talent and teamwork. We want to thank into the future. We are proud to share some of everyone who has helped write this chapter of Instability in geopolitics and the rigour and relevance in teaching the milestones from the last academic year. natural environment along with and research, closeness to the INSEAD success story. uncertainty in technology and the business and entrepreneurial The Campaign for INSEAD: A Force for Good This has been a year to bring people together economy have created a paradigm spirit. As the world became more Last October, we launched a €250 million and make INSEAD a force for good. We have shift for business leaders and the connected and business became capital campaign rooted in our distinct seized the opportunity to honour the rich institutions that educate them. In increasingly global, the pursuit of values, vision and ventures that has brought history of the institution and remain true academic year 2018/2019, INSEAD excellence, guided by these values, our community together to chart a bright to our values. With a strong and growing responded by calling for a rethink brought INSEAD to the cutting edge future for the school. community standing together, we have the of the social contract and engaging of business education. foundation in place to build a better future for leaders around the idea of business the school and for the world. as a force for good. Today, INSEAD is charting a new Hoffmann Global Institute for Business course for business education in and Society When we look back at the history the 21st century. Our curriculum The Institute opened in October and convened of INSEAD, there are striking is focused on business and a conversation on the role of business in Thank you for your similarities between the challenges society, in line with our mission meeting global challenges, inspiring INSEAD continued support. of today and the time when the to develop responsible leaders. to be smarter about aligning with the UN school was founded. Established Our research provides practical Sustainable Development Goals, or SDGs. during the uncertainty and knowledge that helps leaders instability that followed World navigate unpredictable markets San Francisco Hub for Business Innovation War II, INSEAD was instrumental in turbulent times. We engage a A dedicated team of INSEAD leaders and in bringing cultures together and broad spectrum of these leaders alumni worked to open our first facility ushering in an era of peace and to explore how business can be in North America, solidifying our global prosperity in Europe. a force for good. Our leadership Andreas Jacobs Ilian Mihov presence and bringing our business is united behind the idea that MBA’90D Dean of INSEAD insights to the world’s most innovative In the six decades that followed business must be active in Chairman of the Board business ecosystem. our founding, the values deep in overcoming the world’s most our institutional DNA shaped the pressing challenges. school. Diversity, independence, LEADERSHIP 4 5 EX Board of ec U ti V Directors E CO mmittee ANNUAL REPORT 2018/2019 The Board of Directors Karien van Gennip Lucy Quist CEO ING in France Managing Director & Head of Change is composed of business Leadership, Morgan Stanley leaders from a wide range Deepak Gupta Founder & Chairman, Denita Group R. Todd Ruppert of industry sectors and of Companies Founder & CEO, Ruppert International Inc. Chairman, INSEAD Nominations nationalities. & Compensation Committee Mika Salmi Partner, Lakestar (stepped down in Alexis Habib January 2020) Chair, INSEAD Endowment Management Honorary Chairman Committee Mirjam Staub-Bisang CEO, Spinnaker Capital Managing Director, BlackRock Switzerland (stepped down in Claude Janssen Philippe Houzé January 2020) Chairman of the Executive Board, Fernando Zobel de Ayala Chairman Galeries Lafayette Group President & COO, Ayala Corporation Sadia Khan Andreas Jacobs President, INSEAD Alumni Association Member of the Board, Jacobs Holding AG CEO, Pakistan Institute of Corporate Permanent Invitees Governance Executive Ilian Mihov Vice Chair Daniel Labrecque Committee Chairman of the International Council, Dean INSEAD (stepped down in February 2019) Professor of Economics Emma Goltz Chairman and CEO DNA Capital The Rausing Chaired Professor of Chair, INSEAD Alumni Fund Economic & Business Transformation, Daniel Lalonde INSEAD The Executive Committee provides the school with CEO & Director, SMCP - Sandro, Maje, Members Claudie Pierlot (stepped down in François Hériard Dubreuil organisational direction and operational guidance. January 2020) President, Fondation INSEAD Chairman, Orpar Jolyon Barker Christina Law Chairman, Rémy Cointreau Ilian Mihov Laurence Capron Global Leader, Clients & Industries Former Group President, Asia & Latin Dean Dean of Faculty Chairman, INSEAD Audit, Finance & America, General Mills Karel Cool Risk Committee Faculty Representative Urs Peyer Nida Januskis Frédéric Lemoine Professor of Strategic Management Dean of Degree Programmes Associate Dean of Advancement Rémy Best Former Chairman of the Executive The BP Chaired Professor of Chairman, INSEAD Campaign Board Board, Wendel Group (stepped down European Competitiveness Mark Roberts Lukas Thalhammer Chairman, Fondation Mondiale in January 2020) Associate Dean of Executive Education Chief of Staff Managing Partner, Pictet Group Anil Gaba Susan Lloyd-Hurwitz Faculty Representative Peter Zemsky Ziv Carmon Karen Fawcett Chair, INSEAD Campus Renewal INSEAD Professor of Decision Sciences Deputy Dean and Dean of Innovation Dean of Research Non-executive Director Committee The Orpar Chaired Professor of Risk CEO & Managing Director, Management INSEAD Ben M.