IE Business School Dean Is GMAC’s New Board Chair

The Graduate Management Admission Council, the global association of leading graduate business schools that administers the Graduate Management Admission Test, has named a new board chairperson: Martin Boehm, dean of IE Business School in Madrid, Spain. GMAC also named four new members to its board of directors. Two-year terms for Boehm and four-year terms for the four directors begin today (July 1).

Boehm, who is also a professor of marketing at IE, has served on the GMAC board since 2017. He replaces William Boulding, dean of the Fuqua School of Business at Duke University, who concluded his two-year term as chair on June 30.

“I am excited to build upon my experience with GMAC in this new role as chairperson,” said Boehm, who has held several roles within IE, including dean of programs and associate dean of master in management programs. He teaches across the school’s MiM, MBA, executive MBA, and Ph.D. programs; his research focuses on building profitable and long-lasting customer relationships, and how to quantify the impact of various customer management activities on a customer’s lifetime value.

“The business school value proposition is strong, and that doesn’t change in a COVID-19 environment.,” Boehm said in GMAC’s announcement. “In fact, it’s essential, now more than ever, that we help today’s students prepare for the unforeseen challenges of tomorrow, through flexible and adaptive learning in and out of the classroom. The industry has an impactful story to tell across a number of different indicators and I’m excited to help lead that discussion.”

BOULDING’S TWO-YEAR TERM AS CHAIR WAS ANYTHING BUT UNEVENTFUL

Boulding’s tenure as GMAC’s board chair was certainly eventful. He was a leader in the effort to convince Washington of the value of OPT and H-1B, overseeing the creation and launch of GMAC’s Early Warning Signals white paper, which called for major reforms in immigration policies that B-school leaders say restricts talent mobility and poses a major threat to the long-term competitiveness of the U.S. It was signed by 49 other B-school deans.

This month, in the wake of U.S. President Donald Trump’s suspension of the H-1B visa program, Boulding decried the move, saying it was short-sighted and would harm the economy at a difficult time. He told Poets&Quants that he while he was pleased to see that the OPT program, a critical path for badly needed STEM talent, was not curtailed, he was nonetheless dismayed at the suspension of H-1B, particularly as “there are other, more direct routes to address unemployment that would be more effective than shrinking the labor pool.”

“Business school deans,” Boulding said, “have been extremely vocal in explaining the importance of immigration of highly skilled talent to the U.S. economy. It’s disappointing to see the suspension of H-1B visas. Research has shown that skilled immigration actually creates more jobs for the U.S. economy. On the flip side, research also shows that if companies can’t recruit needed international talent to the U.S. they will offshore those jobs — ultimately hurting American workers by providing less opportunity in our economy.

“As I’ve had conversations with policymakers in D.C., both sides of the aisle have expressed a deep understanding of this issue and the importance of immigration to U.S. economic health. We should be expanding the number of H-1B visas available to grow our economy, not curtailing them.”

In its announcement about his replacement, GMAC quoted Boulding saying that “Aspiring students who want to cross national borders to attend business school are a critical economic resource; over the course of their careers, these graduates will guide companies through complicated but lucrative foreign markets, provide overseas contacts for their classmates, provide top-tier talent for global companies, and stitch together the global economy.” Boulding will continue to serve as a dean director on the GMAC board until June 30, 2022.

Leaving the GMAC board as of July 1 are Ellen J. Glazerman, executive director of the Ernst & Young Foundation, Ernst & Young LLP; D. Eric Hirst, senior associate dean for academic affairs and King Ranch chair for business leadership at the McCombs School of Business at the University of Texas-Austin; Xiongwen Lu, dean and professor of marketing at the School of Management at Fudan University, in Shanghai, China; and Sri Zaheer, dean and Elmer L. Andersen chair in global corporate social responsibility at the Carlson School of Management at the University of Minnesota.

GMAC’s 4 NEW BOARD MEMBERS HAIL FROM ACROSS THE GLOBE

Boehm was chosen by the GMAC board to replace Boulding a year ago, in July 2019. The four new GMAC board members are: Ranjan Banerjee, dean and professor of marketing at the S.P. Jain Institute of Management & Research in Mumbai, India; Soojin Kwon, managing director of full-time MBA admissions and program at the Stephen M. Ross School of Business, University of Michigan; Enase Okonedo, dean of Lagos Business School, Pan-Atlantic University, in Lagos, Nigeria; and Jay Nibbe, EY global vice chair for markets. Okonedo and Banerjee will serve as dean directors, Kwon as a representative director, and Nibbe as an independent, board-elected director.

Banerjee, who holds a Ph.D. in marketing from the Carlson School of Management at the University of Minnesota, is an internationally renowned teacher, speaker, researcher, and consultant. His areas of expertise include marketing channels and incentives, design thinking, change management, learnability, and innovation in education systems. He recently began a second term as dean at the S.P. Jain Institute of Management & Research.

Kwon joined Ross in 2004, became director of MBA admissions in 2006, and in 2016 became managing director of the full-time MBA admissions and program, overseeing admissions, academics, and student experience for more than 800 students. She is also a lecturer of business communication and has taught in Ross’ BBA and MBA programs and executive education. Prior to Ross, Soojin was a manager in Deloitte’s strategy and operations practice.

Nibbe has 35 years’ experience serving a wide variety of clients and filling numerous leadership roles. He joined EY in 1985 and became a partner in 1994. In his current role, he oversees all accounts across all EY service lines, sectors, and geographies, with responsibility for leading Global Industry, Global Solutions, Alliance Partnerships, Managed Services, Business Development, and the EY global alumni programs.

Okonedo is a professor of management with over 30 years’ experience in the financial services and management education sectors. In 2009, she became dean of Lagos Business School; under her leadership, the school achieved international accreditations from AACSB International and the Association of MBAs.

“We’re excited to engage and collaborate with some of the brightest minds in Graduate Management Education from regions across the world,” said Sangeet Chowfla, president and CEO of GMAC. “Enhancing diversity and global perspective on our board better enables GMAC to bring solutions and ideas to the marketplace that help address the unique challenges and opportunities associated with our industry.”

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