Alleging Discrimination, Entrepreneurship Prof Sues Babson College

Lakshmi Balachandra filed a lawsuit last month alleging she was subjected to gender and racial discrimination at the Wellesley business school

From Boston: An Indian-origin associate professor at Babson College’s F.W. Olin Graduate School of Business has filed a lawsuit alleging that she was subjected to racial and gender discrimination.

Lakshmi Balachandra, associate professor of entrepreneurship at Babson, says she lost career opportunities and faced economic losses, emotional distress, and harm to her reputation because of mistreatment and administrators’ failure to investigate her concerns, The Boston Globe newspaper reported on February 27.

Lakshmi Balachandra joined Babson’s faculty in 2012 and earned tenure in 2019.

In her lawsuit, Balachandra called out Andrew Corbett, a professor and former chair of the college’s entrepreneurship division, as the “primary direct perpetrators of the discriminatory work environment.” According to the complaint filed in US District Court in Boston dated February 27, Lakshmi Balachandra alleged that Corbett, who oversaw teaching assignments, class scheduling, and annual reviews, only allowed her to teach required courses in entrepreneurship despite her requests to teach electives – even though she had taught such classes previously at MIT Sloan School of Management and Harvard Business School.

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13 CEIBS alumnae listed Forbes China 100 Top Businesswomen rankings for 2023

From Shanghai, China: Thirteen CEIBS alumnae have been listed among the 2023 Forbes China 100 Top Businesswomen List, from industries such as electrical manufacturing, healthcare, biopharmaceuticals, retail, new energy, and high-tech.

Dong Mingzhu, chairwoman of China’s largest air conditioner maker Gree Electric Appliances was ranked second – up 10 places from last year.

Forbes China’s ranking takes into account business performance, market capitalization, market size, industry influence and innovation of the companies.

The 100 female executives on the list have an average age 51, with some 35 being new entries including four CEIBS alumnae making their debut. Over 60% have a Master’s degree or above (including MBA and EMBA), and 25% overseas study experience. The total market value of the 100 companies managed by the women is over 5.5 trillion RMB this year, exceeding the total GDP of Sweden and Argentina. Geographically, Shanghai, Beijing, and Hangzhou have the most names on the list.

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Source: CEIBS

New Gies College building to be named for donor

From Urbana-Champaign, Illinois: The new building at the Gies College of Business will be named Steven S. Wymer Hall in recognition of a generous gift from alumnus Steven Wymer, according to a news release from the business school at the University of Illinois at Urbana-Champaign. The building will serve residential and online students as well as faculty and staff from Gies Business and other schools and colleges on campus.

An artist rendering of Wymer Hall

Wymer, a 1985 Gies alumnus with a bachelor’s in accounting, is a portfolio manager in the Equity and High-Income division at Fidelity Investments. A native of nearby Danville, Ill., he has been the manager of Fidelity Growth Company Fund since 1997. After graduating from Gies, Wymer went on to earn his MBA from the University of Chicago. He lives in the Boston area with his family.

A groundbreaking ceremony for Steven S. Wymer Hall will be held on April 14, 2023, and construction is expected to be completed by December 2024. The four-story building will include a 200-seat auditorium, two 80-seat classrooms, and four 60-seat classrooms. In support of online programs, the new building will include two 40-foot-by-40-foot sound stages, five studios, and six control booths – all of which will be shared spaces with schools and colleges on the south campus.

Eighteen additional meeting and collaborative rooms will provide expanded space for experiential learning, group work, and meetings with recruiters. Finally, 84 new office spaces will support the College’s growing faculty and staff.

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