Annual Report 2018 1 C Contents ontents 2 Our Year 26 Faculty & 56 Infrastructure in Review Research 56 Digital Infrastructure 26 Overview 57 Europe Campus 28 Recognition & Awards 58 Asia Campus Leadership 30 New Faculty 59 Middle East Campus 4 34 INSEAD Knowledge 4 From the Chairman 36 Alliances & 5 Board of Directors Partnerships Constituencies 6 From the Dean 60 8 Executive Committee 60 Advisory Council 8 New Leadership 60 Fondation Mondiale Degree INSEAD 38 Programmes 60 Fondation INSEAD 60 International Council Special Features 38 Master Degree 61 National Councils 10 Programmes 11 INSEAD Brand 40 Class Statistics Evolution 41 Doctoral Programme 14 The Campaign for 42 Career Development Graduating INSEAD Centre 67 Classes 16 Rethinking Business 44 Employment Statistics & Society 67 MBA Class of 18 iW50 – A Year of December 2017 INSEAD Women 70 MBA Class of 20 INSEAD LaunchPad Executive July 2018 at Station F 46 Education 72 Global Executive MBA 74 Tsinghua-INSEAD 46 Open & Customised Executive MBA Programmes 74 Master in Finance Finances & 48 Online Programmes 22 Endowment 74 Executive Master in Consulting and 22 Finances Coaching for Change Advancement 24 Endowment 50 50 Advancement & Alumni Relations 54 Events The 2017/2018 Our Year in Review report is developed by INSEAD Communications through a school-wide collaborative process. We would like to thank everyone who contributed to this year’s report. We would also like to thank the entire INSEAD Community – students and participants, alumni, faculty and staff – for making this year a success. It is an honour and privilege to report our accomplishments and we look forward to what the future holds. LEADERSHIP 2 3 Board of Board of Leadership Directors Di rectors ANNUAL REPORT 2017/2018 Honorary Chairman Sadia Khan Permanent Invitees From the Chairman President, INSEAD Alumni Association CEO, Selar Enterprises (Pvt) Ltd Claude Janssen Ilian Mihov Daniel Labrecque Dean Chairman, INSEAD International Council INSEAD Professor of Economics When I reflect on the decisions taken by the Board over this Chairman Chairman, DNA Capital The Rausing Chaired Professor of Economic and Business Transformation time, I realise the extent to which they will shape the future Andreas Jacobs Daniel Lalonde François Hériard Dubreuil of INSEAD. This year, we wholeheartedly embraced the Member of the Board, Jacobs Holding AG CEO & Director, SMCP (Sandro, Maje, Claudie Pierlot) President, Fondation INSEAD launch of our most ambitious fundraising campaign to date. Chairman, Orpar Christina Law Chairman, Rémy Cointreau Vice Chair Group President, Asia & Latin America, We commended the creation of The year-long celebration of women General Mills Anil Gaba the Hoffmann Global Institute at INSEAD, or iW50, which culminated Emma Goltz Faculty Representative for Business and Society and its in the Summit of summer 2018, is Chair, INSEAD Alumni Fund Frédéric Lemoine INSEAD Professor of Decision Sciences mission to influence every facet another historic moment. It sends Former Chairman of the Executive Board, The Orpar Chaired Professor of Risk Management of the school’s activities. We not an important signal to the world and Wendel Group only approved but applauded Dean heralds a new era of gender diversity Members Susan Lloyd-Hurwitz D. Charles Galunic Ilian Mihov’s bold new five-year across INSEAD – extending to the Chair, INSEAD Campus Renewal Faculty Representative strategy. And, in endorsing the Board itself. Already we have taken Jolyon Barker Committee INSEAD Professor of Organisational vast undertaking to renovate our it to heart and are in the process of Global Leader, Clients & Industries CEO and Managing Director, Behaviour The Aviva Chaired Professor of entire campus in Fontainebleau, we replacing retiring male directors Chairman, INSEAD Audit, Finance & Mirvac Group Ltd Risk Committee Leadership and Responsibility reaffirmed our commitment to our with female talent, targeting at least R. Todd Ruppert much-loved European home. 35% representation over the next Rémy Best Founder & CEO, Ruppert International Inc. Brigit Soccard few years. Chairman, INSEAD Campaign Board Staff Representative These are truly transformative and Chairman, Fondation Mondiale Mika Salmi Executive Assistant to the CCO and far-reaching developments. But there As we approach our 60th anniversary Managing Partner, Pictet Group Senior Advisor, Raine Group Communications Department are many, many others deserving of next year, we will start to see the Chairman, INSEAD Remuneration Karen Fawcett celebration. It was another exceptional impact of 2017/2018 developments Committee Co-founder, Katfish Holdings year for Executive Education, for throughout the school. These are Mirjam Staub-Bisang example, with strong growth and exciting times, indeed, to be part of Deepak Gupta Chair, Endowment Management higher performance than ever before. the global community that is INSEAD. Founder & Chairman, Denita Group Committee Our innovations in online education of Companies Managing Director, BlackRock are a particular source of pride. Chairman, INSEAD Nominations Switzerland Committee Digital remains a small flower, but Fernando Zobel de Ayala it is blooming brightly – broadening Philippe Houzé President & COO, Ayala Corporation our audience and widening our Chairman of the Executive Board, portfolio. It is also worth adding that, Galeries Lafayette Group compared to other business schools, Andreas Jacobs our record of attracting and retaining MBA’90D the world’s very best faculty was Chairman of the Board outstanding in 2017/2018 and has taken our number of resident professors to an all-time high. LEADERSHIP 4 5 F From the Dean rom T H E D ean ANNUAL REPORT 2017/2018 through reflection, we see how INSEAD has grown with the world and changed the world for the better with the research we produce, the leaders we engage with and the success stories we hear from our community. Environmental pressures, new INSEAD Brand The Campaign In this year’s annual report, I am geopolitical forces and technological pleased to share more about advance are reshaping global Evolution for INSEAD these milestones, along with business. These challenges require This year, we renewed the INSEAD In October, INSEAD launched a facts, figures and highlights from leaders to think differently and brand so the world can see us for €250 million fundraising Campaign, around the school. act differently. who we truly are. We placed our our most ambitious to date. The The achievements reflected in the The INSEAD founding principles name in a logo that represents our Campaign is grounded in our 2017/2018 Annual Report belong can and must guide us as we position as the business school for distinct values, vision and ventures. to the INSEAD community – our equip leaders to face today’s the world. We updated the colours Campaign support fortifies our faculty, students, alumni, donors, global challenges. Looking to to reflect our diverse and vibrant academic excellence, drives supporters and staff. They are the past shapes how we prepare community. We made a brand breakthrough innovation and holds the result of hard work, incredible leaders for a dynamic and promise to strive for excellence in the potential to transform society rethinking Business anniversary of our first female MBA talent, deep collaboration and unpredictable future, which has everything we do. on a global scale. graduates. It was the culmination commitment to our mission. I made this a year of renewal. and Society of a year of showcasing the want to thank everyone who has experiences and ideas of INSEAD In August 2018, we established been a part of this chapter of the We have renewed our commitment women. The successes shared the Hoffmann Global Institute INSEAD success story. to lead cutting-edge business refocused our work on gender for Business and Society. Our education, to promote gender balance, with emphasis on This year has been a year to newest INSEAD institute explores balance and to launch new initiatives, elevating and empowering women celebrate, and it has been an the intersection of business and such as a permanent space in San leaders. This work will be carried inflection point. Together, we can society. The challenges of our times Francisco. We started a process to forward by the Gender Initiative. build on what has been done and are immense, and the decisions renew our school by modernising transform the world. made today determine the future. our Europe Campus and enhancing The Institute will work across the offerings in Asia and the Middle East. LaunchPad for I thank you for your continued school and with our partners to We have renewed our community support. enable leaders to deliver positive Start-ups engagement, seeking support to outcomes for their organisations achieve greater success. The year kicked off in January with and their communities. the opening of the LaunchPad at This year, we redoubled our effort STATION F in Paris. The LaunchPad to inspire, innovate and expand is a hub for INSEAD start-ups to our global influence – and this Celebrating Ilian Mihov benefit from the expertise of our Dean of INSEAD effort has been marked by several INSEAD Women entrepreneurship community milestones. and ecosystem at STATION F, the The iW50 Summit held on our world’s biggest start-up campus. Europe Campus in June was With this idea incubator space, we the celebration of the 50th put innovation in focus. LEADERSHIP 6 7 Laurence Capron Dean of Faculty N ew Professor Laurence Capron has been appointed as Dean Executive New L of Faculty. Laurence joined INSEAD in 1997, served as eaders INSEAD Board Faculty Representative since 2016 and is a Committee Leadership leading expert on M&As, alliances and business portfolio growth. She has won many awards, including the INSEAD H MBA Best Teacher Award. ip ANNUAL REPORT 2017/2018 Ilian Mihov The INSEAD Executive Committee Dean welcomed six new members this year. Peter Zemsky Deputy Dean and Dean of Innovation Ziv Carmon Dean of Research Laurence Capron Dean of Faculty Professor Ziv Carmon is our new INSEAD Dean of Research.