When IMD launched its EMBA program a quarter of a century ago, the world was on the cusp of transformation. The euro had just been introduced, Bill Clinton was serving as President of the United States, and the fears of the Y2K bug dominated the collective consciousness as the millennium approached.
In the 25 years since, the world has undergone extraordinary technological, economic, and societal shifts. Yet, amid all this change, the demand for reflective, adaptive leaders remains unwavering.
“True leadership is not inherited or bestowed. It is forged through reflection and challenges, enriched by differences, and strengthened through fellowship,” said Vanina Farber, Dean of the EMBA program since 2022, as she addressed alumni gathered in Lausanne to celebrate the program’s landmark anniversary.
The origins of the program
The EMBA traces its roots to a group of enterprising faculty members who embodied IMD’s ethos of “challenging what is and inspiring what could be”. In 1999, when international EMBA programs were still rare, they designed one of Europe’s first executive courses, shaping a curriculum that would set benchmarks in leadership education.
“No limits were placed on what we could do, or how we would do it. The EMBA was a blank sheet of paper,” recalled Jim Pulcrano, Adjunct Professor of Entrepreneurship and Management, who designed the program alongside Andy Boynton, the first program director, and Marianne Vandenbosch. “In effect to use one of my favorite phrases, we created something from nothing.”
The program has since welcomed over 3,000 participants. These individuals have gone on to excel in their careers, launch innovative ventures, and contribute to their communities by tackling some of the world’s most pressing challenges. The journeys of twenty five of these alumni are captured in a commemorative book to celebrate the 25th anniversary.
“This program develops real leaders. And when we speak about real leaders, what we mean is leaders who step up when things become challenging, who rally their teams when others might be paralyzed by uncertainty, and who remain focused on a North Star,” said IMD President David Bach.
A conversation among Deans
The five Deans who have stewarded the program over the past 25 years gathered to reflect on the milestones achieved under their leadership. Boynton described the program’s early days as an “EMBA startup” recalling the pressure on the leadership team to ensure the course matched the rigor of full-time MBA program.
John Walsh, Dean 2005-2008, emphasized his goal of instilling the idea that the learning process was as valuable as the content itself. Phil Rosenzweig, Dean 2009-2014, recounted shifting the location of a Discovery Expedition from Ireland to India and reducing on-campus time to align with the evolving expectations of participants.
Stefan Michel, who led the program between 2014-2022. recalled the challenges of the COVID-19 pandemic – a period where many alumni became thankful for their past crisis training with the Swiss military, while Farber highlighted her focus on future-proofing the program by introducing greater modularity and personalized learning opportunities.
“The strength of the IMD program has always been its people and will continue to focus on excellence and the very unique profiles that make this community so special,” she said.
An EMBA experience 25 years apart
Danny Touw (EMBA 1999), a former PMI executive and investor, and Stephanie Herzog (EMBA 2024), Head of Switzerland Private Wealth Management Operations at Goldman Sachs, shared their experiences of the program 25 years apart.
Herzog said the Discovery Expeditions – a signature part of the program where participants immerse themselves in the business culture of destinations as diverse as Silicon Valley, Shanghai, and Peru, among others – had been a major draw and had served to cement bonds among her cohort.
Touw reflected on how his IMD experience had served as a constant companion over the past 25 years. “Even an event like today is still part of that 25-year journey. All those events, they add some piece of experience, information.”
A celebration of impact
During the anniversary celebration, faculty, deans, and alumni reflected on the transformative nature of the program – not only for its participants but for themselves as educators and leaders.
“I could have never imagined how much leading the Executive MBA would change me,” said Michel. Like many participants, he discovered new insights about himself as a person and how he can better relate to those around him.
Farber described her role as Dean as “the privilege of a lifetime.” Pulcrano echoed this sentiment, expressing gratitude to the alumni for teaching him as much as he taught them. “The lessons you’ve given me over these 25 years will stay with me. You’ve stretched my thinking, you’ve sharpened my skills and reminded me of the power of lifelong learning.”
Susanne Hundsbaek-Pedersen (EMBA 2016), EVP Global Head Pharma Technical Operations at Roche spoke of “an intellectual love affair to engage with IMD”. She noted how many of her classmates remain those who ask her the unexpected questions and have become her best friends. Michael Hengartner (EMBA 2008), President of the ETH Board, praised the program’s USP which he said was hard to copy. “We have 25 years behind us. Let’s look to the next 25.”
Learn more about a quarter of a century of the EMBA
Read about the journeys of 25 EMBA alumni
Order a copy of the book IMD EMBA 25: Leading with Impact
