From the Chairman

Dr. Andreas Jacobs MBA’90D reflects on his decade-long tenure as Chairman

It is with a sense of pride and gratitude that I address you for the final time in this Annual Report, as I prepare to step down from my role as Chairman of the INSEAD Board of Directors in the coming months. I am honoured to have had the opportunity to lead the Board of this esteemed institution – my alma mater – during a period of significant growth and achievement.


Over the course of my tenure, spanning a decade, I have witnessed INSEAD grow from strength to strength. It is heartening to see the progress we have made as a community, hitting an impressive number of pioneering milestones over the past ten years – from organising the school’s first Global INSEAD Day, to hosting graduations in our original home at the Château de Fontainebleau, to launching the new Master in Management programme, to establishing the Hoffmann Global Institute for Business and Society and much, much more. I encourage you to read the feature 'A Decade of INSEAD Milestones' to get a complete picture of all that has been achieved. Together, we have celebrated numerous milestones and navigated challenges with resilience and determination.



I am immensely proud of the strides we have taken together in recent years and in Academic Year 2022–2023. One notable aspect of our progress that we can be particularly proud of is the increased diversity within our Board, with women now comprising 50% of its members. This inclusivity not only enriches our perspectives but also underscores our commitment to our founding value of harnessing diversity to drive innovation and creativity.


Dean Ilian Mihov and Deputy Dean Peter Zemsky, with whom I had the privilege of working closely for the majority of the past decade, played instrumental roles in shaping INSEAD's trajectory, and I would like to take this opportunity to thank them both for their steady and inspiring leadership. As I prepare to pass on the baton, I do so with a deep sense of satisfaction and faith in the future direction of our school. I am excited for the new chapter that lies ahead and it is with great pleasure that I welcome Francisco Veloso as our new Dean. I am confident that under his visionary leadership, INSEAD will continue to thrive and grow stronger.


The future of our institution looks bright, fuelled by our collective commitment to excellence, innovation and global impact. I am grateful for the opportunity to have served as Chairman, and I look forward to witnessing the continued success of INSEAD in the years to come.


Andreas Jacobs MBA'90D Chairman of the Board

Thank you for your steadfast support and dedication.

Andreas Jacobs signature

Dr. Andreas Jacobs MBA'90D

Chairman of the Board

From the Dean

Dean Francisco Veloso on a milestone year for the school

The Academic Year 2022–2023 marked a significant milestone in the history of our school. As we bade farewell to a transformative decade under the leadership of my predecessor, Dean Ilian Mihov, we took the time to honour the achievements of our community through a series of events and celebrations. These moments offered a chance to reflect on our journey, appreciate our successes and acknowledge the profound impact Ilian and his leadership team had on shaping our school's legacy.


While the accomplishments of the past decade are indeed impressive – and which you can read more about in the feature, 'A Decade of INSEAD Milestones' – so too is what we have achieved in the past Academic Year alone. From the successful conclusion of The Campaign for INSEAD: A Force for Good, to significant strides in sustainability – highlighted by the revamp of our MBA curriculum and the marking of the fifth anniversary of the INSEAD Hoffmann Global Institute for Business and Society – we have continually pushed boundaries and embraced innovation. Additionally, our commitment to our entrepreneurial spirit has led to the introduction of new and transformative learning solutions, such as the INSEAD Learning Hub and the INSEAD XR Portal.


Sadly, we also experienced loss this past Academic Year, with the passing away of one of our early Deans, Uwe Kitzinger, CBE. Uwe served as Dean of INSEAD from 1976 to 1980. Under his leadership, INSEAD consolidated its research capability and orientation through his recruitment policies, public addresses and systematic appeals to the Board.


I am privileged to have assumed the role of Dean last September. Throughout my personal and professional journey, I have admired INSEAD from afar, and today, I am deeply honoured to lead The Business School for the World.


I extend my heartfelt gratitude to the entire INSEAD community – our exceptional students, participants, alumni, esteemed faculty and dedicated staff – for the warm welcome extended to me since my arrival last September. Transitioning to a new role and environment could have been challenging, for me as well as my family, who joined me in this endeavour, but the unwavering support of our global community has made this transition as smooth and seamless as possible.

Francisco Veloso - Dean of INSEAD

As we look to the future, I am excited to build upon the strong foundations laid by my predecessors. While today’s business education landscape presents new and unique challenges, there are equally many significant opportunities to be explored. Together with my leadership team and with the support of our amazing community, I look forward to taking our school to even greater heights, by amplifying the global impact of our mission and reimagining the learning experience in today's dynamic landscape. We will do this while driving a resilient growth path and fostering a spirit of community and collaboration across INSEAD. In the process, we will ensure a continued commitment to a more sustainable world, while walking the talk across all our activities. I invite you to read the interview with me on page 16 to get a greater insight into my hopes for the future of INSEAD.


I am immensely grateful for your continued support and dedication to our beloved school. I eagerly anticipate the opportunity to work with each of you as we continue to nurture INSEAD and advance our successes.


Thank you for your unwavering commitment.

Francisco Veloso Signature

Francisco Veloso

Dean of INSEAD

Board of Directors

The Board of Directors is composed of business leaders from a wide range of industry sectors and nationalities.


Andreas Jacobs MBA'90D
Member of the Board, Jacobs Holding AG

Vice Chair

Emma Goltz MBA'98J
Chair, INSEAD Alumni Fund
(mandate started August 2023)


Nabila Aguele MBA'14J
Special Adviser to the Honourable Minister, Federal Ministry of Finance, Budget and National Planning, Nigeria
Jolyon Barker MBA'94D
Chair, INSEAD Audit, Finance & Risk Committee
Global Managing Principal, Clients & Industries, Deloitte
Rémy Best MBA'93D (ex-officio)
Chairman, Fondation Mondiale Managing Partner, Pictet Group
Verena Butt D’Espous MBA'07D (ex-officio)
Chair, INSEAD Alumni Fund
Chief Customer Officer, BlaBlaCar (started September 2023)
Frans Blom MBA'90D (ex-officio)
President, INSEAD Alumni Association
Chairman of the Supervisory Board, Van Lanschot Kempen
Said Darwazah MBA'84D
Executive Chairman
Hikma Pharmaceuticals
Arnoud De Meyer
Professor, Lee Kong Chian School of Business, Singapore Management University
Karen Fawcett MBA'88D
Non-executive Director
Patrick Firmenich MBA'90J
Vice Chair, DSM-Firmenich
Chwee Foon Lim MBA'98D
President APAC, Ekso Bionics
Adam Goldstein MBA'88J
Executive Chairman, DLT Global Inc.
Alexis Habib MBA'81
Chair, INSEAD Endowment Management Committee
CEO, Spinnaker Capital
Philip Houzé MBA'74
Chairman of the Executive Board, Galeries Lafayette Group
François Hériard Dubreuil MBA'75 (ex-officio)
Chair, Fondation INSEAD
Rémy Cointreau Foundation
Christina Law MBA'91D
Group CEO, Raintree Group of Companies
Susan Lloyd-Hurwitz MBA'94J
Chair, INSEAD Facilities Committee
CEO and Managing Director, Mirvac Group Ltd
Frédéric Mazzella MBA'07D
Co-Founder & President, BlaBlaCar / Captain Cause
Barbara Martin Coppola MBA'05J
CEO, Decathlon
(mandate started September 2023)
Alexandra Papalexopoulou
Deputy Chair of the Group Executive Committee,
Titan Cement International
Lucy Quist
Managing Director and Head of Change Leadership,
Morgan Stanley
Pascale Witz
Chair, INSEAD Nominations and Compensation Committee
Founder and President, PWH Advisors

Permanent Invitees

Laura Kapstein
Deputy Staff Representative
Associate Director, Talent Development, Human Resources
Ilian Mihov
Professor of Economics,
The Rausing Chaired Professor of Economic and Business Transformation, INSEAD
(mandate ended August 2023)
James Middleditch
Staff Representative
Director, Operations and Campus Services, International
Francisco Veloso
Dean of INSEAD
Professor of Strategy
(started September 2023)
Enver Yücesan
Faculty Representative, Professor of Technology Management
Board of Directors

Executive Committee

The Executive Committee provides the school with organisational direction and operational guidance.
Francisco Veloso
Javier Gimeno
Dean of Faculty
Lily Fang
Dean of Research
Urs Peyer
Dean of Degree Programmes
Sameer Hasija
Dean of Executive Education
Nida Januskis EMBA'23
Associate Dean of Advancement
Attila Cselőtei
Chief Operating Officer
Guy De Herde
Chief People Officer
Séverine Guilloux
Chief Marketing Officer


Annual Report Description
We are pleased to provide downloadable versions of Our Year in Review 2022–2023 and annual reports from previous years. All downloads are available in the PDF file format.