10 October 2006 - Lausanne, Switzerland

Dr. Peter Lorange, President of IMD, requested on Friday October 6, 2006 that IMD’s Executive Committee initiate the process of finding his successor. Dr. Lorange has been President of IMD since July 1, 1993. He will remain as President until January 1, 2008 and, if needed, until June 30, 2008 (or any time in between). In the interim, he will make every effort to contribute to a smooth transition. Dr. Lorange is retiring at the end of his third five-year contract, at which time Dr. Lorange will reach IMD’s mandatory retirement age. Dr. Lorange is Professor of Strategy and holds the Nestlé Chair. His areas of special interest are strategy, global strategic management, strategic planning, strategic alliances and strategic control.

During Dr. Lorange’s 13 years plus as President of IMD, the Institute has moved from strength to strength. It is now one of the world’s most admired business schools, known for its focus, flexibility, and ability to serve its clients. Throughout Dr. Lorange’s tenure, revenue has grown from CHF 35 million to CHF 107 million (2006 estimate). This year will see a CHF 12 million increase over 2005, the largest one-year jump in the school’s history. The school has expanded to 55 faculty and 250 staff. IMD now sits at the forefront of executive education, as reflected in well-subscribed executive development programs, top rankings, a growing list of IMD Learning Network companies, world-class faculty and top international participants. Dr. Lorange’s retirement announcement coincides with the ground-breaking for IMD’s fourth building project under Lorange’s leadership, a new center for executive learning.

“Building on a long history of success”, commented Dr. Lorange, “the school has evolved through remarkable team effort. IMD has never been more international with high calibre participants from almost a 100 countries. IMD’s eclectic Faculty ensures the institute’s thought leadership. The school is in better shape than ever before.”

Dr. Lorange was formerly President of the Norwegian School of Management in Oslo. In management education, Dr. Lorange was affiliated with the Wharton School, University of Pennsylvania for more than a decade in various assignments, including director for the Joseph H. Lauder Institute of Management and International Studies, and The William H. Wurster Center for International Management Studies, as well as The William H. Wurster Professor of Multinational Management. He has also taught at the Sloan School of Management (M.I.T.), IMEDE (now IMD), and the Stockholm School of Economics.

Considered a world-leading expert on strategy, Dr. Lorange has written or edited 15 books and some 110 articles. He has conducted extensive research on multinational management, strategic planning processes, strategic control and strategic alliances. He has taught at the undergraduate, Master and Doctoral levels, and worked extensively with U.S., European and Asian corporations, both in a consulting capacity and in executive education. He serves on the Board of Directors of several companies including: S Ugelstad Shipowners A/S, Christiania Eiendomsselskap A/S, StreamServe Inc., Preferred Global Health, Zaruma Resources Inc., Copenhagen Business School, Seaspan Corporation and Terra Global. Dr. Lorange has remained, throughout his tenure, one of IMD’s most prolific researchers and published authors.

Dr. Lorange is Norwegian. He received his undergraduate education from the Norwegian School of Economics and Business, was awarded a Masters of Arts degree in Operations Management from Yale University, and his Doctor of Business Administration degree from Harvard University. IMD’s Executive Committee will now launch a search process. The Search Committee will be presided by Dr. Matti Alahuhta, Chairman of IMD’s Foundation Board, and President of Kone Corporation. It will also include two other members of IMD’s Executive Committee: Heini Lippuner, Immediate Past Chairman IMD’s Foundation Board, and Daniel Meiland, Executive Chairman, Egon Zehnder International.

Alessandro Sofia
IMD Media Relations
Tel: +41(0) 21 618 0636
Contact Alessandro Sofia