Swiss Businessman Thomas Schmidheiny Gives $5 Million Gift to The Fletcher School to Launch New...

MEDFORD, Mass. -- Thanks to a $5 million gift from Swiss businessman and philanthropist Mr. Thomas Schmidheiny, The Fletcher School of Law and Diplomacy at Tufts University plans to launch an ambitious two-year interdisciplinary International Management master's degree program in the fall

The decision to create a new program arises out of a belief by school officials that in today's global marketplace, core business skills alone are not enough, and that successful leaders must have an interdisciplinary knowledge connecting business and international affairs. The new Master of Science in International Management Program is designed to close the gap between more traditional "ethnocentric" MBA programs and more general masters programs in international affairs.

Mr. Schmidheiny, in making his gift, explained: "The dynamic international environment and the increase in international business transactions are providing more professional opportunities worldwide. Additionally, the nexus between the public and private sector is becoming stronger and increasingly critical in effecting change. I believe that The Fletcher School has an important role to play in facilitating these changes."

Dean Stephen W. Bosworth expressed his gratitude: "We are deeply appreciative of Mr. Schmidheiny's generous gift. The changes in the global environment today means that in order to lead effectively in the 21st century, business leaders must have well-developed management skills as well as a broad and deep understanding of the international arena."

Since its founding in 1933, The Fletcher School has offered coursework and programming in international business. Over the last decade, approximately 30 percent of Fletcher graduates have chosen careers in international business in areas such as consulting, financial services, and management. In addition, Fletcher graduates hold leadership positions in the public and non-profit sectors worldwide. In the business and finance areas alone, Fletcher alumni can be found working in companies all over the world, including AIG, Citigroup, Booz Allen Hamilton, Bank of America, J.P. Morgan Chase, Archer Daniels Midland Company, Lazard, Shell Oil Company India, Hitachi, Arab Bank Corporation, Mercer Oliver Wyman and General Electric.

A full degree program will enable students to leverage Fletcher's resources and reputation for excellence in international affairs with increasing international opportunities and challenges. The initial student enrollment will be 25, expanding to a steady-state of 40 students. Several new international business and finance faculty members will be hired during the first five years, representing additional funding opportunities. An important component of the program will be to offer generous financial aid to most students.

In recognition of new and important players in the global economy, such as Brazil, China and India, the program will feature an interdisciplinary Center for Emerging Market Enterprises, dealing with issues such as risk in global asset management, micro-finance and development economics, strategic challenges for emerging markets-based multinationals and corporate governance in emerging capital markets. It will also initiate an executive training module on the finance and law of emerging capital markets and sponsor applied research in how best to nurture the "emergence process."

Mr. Schmidheiny is the Chairman of Spectrum Value Management Ltd. headquartered in Zurich, Switzerland. As CEO for twenty-five years, he led Holcim of Switzerland to global prominence as the world's leading cement, concrete and aggregates company. Mr. Schmidheiny holds an engineering degree from the Swiss Federal Institute of Technology, an MBA from IMD in Lausanne, Switzerland and an honorary doctor of business administration from Tufts University.

"In a world of endless change, future generations of Fletcher students must be equipped with the skills to succeed in the new world for which knowledge of international affairs, language and culture are essential," Mr. Schmidheiny said. "My gift is intended as an investment in their future - and ours."