Isabelle Bajeux-Besnainou - 10th Dean of the Tepper School of Business - Carnegie Mellon University

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Isabelle Bajeux-Besnainou - 10th Dean of the Tepper School of Business - Carnegie Mellon University
Tepper School of Business | Carnegie Mellon University       FALL / WINTER 2020

                                                         Isabelle
                                                         Bajeux-Besnainou
                                                         10th Dean of the
                                                         Tepper School of Business
Isabelle Bajeux-Besnainou - 10th Dean of the Tepper School of Business - Carnegie Mellon University
FC EOANTTUERNETSS
                                                     Eduardo Tobon (MBA 2000)                           ADMINISTRATION
                                                     Leadership Advisor                                 Isabelle Bajeux-Besnainou, Ph.D.
                                                     Spencer Stuart                                     Dean                                                                                                                            and
M     A     G      A     Z     I        N   E        Pradeep UN (MBA 2003)                              Linda Argote, Ph.D.
                                                     Director, Customer & Field Experiences             Senior Associate Dean, Faculty and Research
                                                     Microsoft Corp.
TEPPER SCHOOL ALUMNI RELATIONS                                                                          Willem-Jan van Hoeve, Ph.D.
John M. Sengenberger Sr.                             BUSINESS BOARD OF ADVISORS                         Senior Associate Dean, Education
Executive Director, Alumni Relations                 Homaira Akbari (MSIA 1996)
                                                     President and CEO                                  Jonathan S. Stern
ALUMNI BOARD                                         AKnowledge Partners LLC                            Associate Dean, Advancement
Michelle Crottier (MBA 2014)

                                                                                                                                                                                                  10 Winds of Change
Finance Integration                                  Darryl Britt (MSIA 1990)                           John Gasper, Ph.D.
Google                                               President and CEO                                  Assistant Dean, Strategic Initiatives
                                                     Apprio Inc.
                                                                                                                                                                                                               COV ER FE AT UR E
Robert DeAngelis (MSIA 1985)                                                                            Rhonda D. Fischer
Retired                                              Eric L. Butler (E 1981, MSIA 1986)                 Chief Operating Officer
KeyBank                                              CEO
                                                     Aswani-Butler Investment Associates LLC            Lynda W. Oliver
Lyenda Simpson Delp (MSIA 1997)                                                                         Chief Marketing and Communications Officer
Deputy Head of Client Relationship Management,       Mark A. Coblitz (MSIA 1982)                                                                                                                               The Tepper School of Business welcomes
FIG Americas                                         Senior Vice President,                             Nicola Secomandi, Ph.D.                                                                                new Dean Isabelle Bajeux-Besnainou.
BlackRock                                            Strategic Planning (retired)                       Head, Ph.D. Program
                                                     Comcast Corporation
Cyanne Demchak (MBA 2009, MSHC 2009)                                                                    Kathryn Barraclough, Ph.D.
Chief Innovation Officer                             David A. Coulter (BSIM 1971, MSIA 1971, Trustee)   Head, MBA Program
Cigna Medical Group, Cigna Corp.                     Special Limited Partner
                                                     Warburg Pincus                                     Burton Hollifield, Ph.D.
John Dischner (MSIA 1994)                                                                               Head, Undergraduate Business Administration Program

                                                                                                                                                                                                                                  14
Managing Director                                    Christine DeFilippo (BSE 1990, MSIA 1994)

                                                                                                                                                                                                  8
AlixPartners LLP                                     Director of Operations                             Christopher I. Telmer, Ph.D.
                                                     Apple                                              Head, Economics
Russell C.B. Ewing II (MSIA 1996)

                                                                                                                                                                      3                                                                                      18
Retired                                                                                                 Duane J. Seppi, Ph.D.
                                                                                                                                                                                                                                  VERSATILE
                                                     Stephanie Ercegovic (BSIM 1982, MSIA 1983)
Goldman Sachs Asset Management                                                                          Head, Master of Science in Computational

                                                                                                                                                                                                  TRENDING
                                                     President
                                                                                                        Finance Program
                                                                                                                                                                                                                                  PATHFINDER
                                                     Discovery Capital Management
Lori Heinel (MSIA 1992)
Executive Vice President,
Deputy Global Chief Investment Officer
                                                     Donald Heberle (MSIA 1994)                         Nicholas Hamilton-Archer
                                                                                                                                                                     TE PPE R
                                                                                                                                                                                                  TOPICS
                                                     Head, Wealth Management                            Executive Director, Executive Education
State Street Global Advisors                                                                                                                                                                                                      A PRECISE ODYSSEY          enterprising
                                                                                                                                                                     DI G E S T                                                                                                             20
                                                     The PNC Financial Services Group
                                                                                                        MAGAZINE STAFF
Tal Heppenstall (MSIA 1985)
President
                                                     Keishi Hotsuki (MSIA 1989)
                                                     Chief Risk Officer
                                                                                                        EDITOR
                                                                                                        Lynda W. Oliver
                                                                                                                                                                                                                                  Amit Sachdev
                                                                                                                                                                                                                                  (BSIM 1990) discusses
                                                                                                                                                                                                                                                             leaders
UPMC Enterprises                                     Morgan Stanley
                                                                                                                                                                      Recent news from            TEPPER EXPERTS FIND             his journey to change      Three intrepid alumni
                                                                                                                                                                      the Tepper School.          POSITIVE WAYS TO
                                                                                                                                                                                                                                                                                            SERVICE
                                                                                                        CREATIVE DIRECTOR                                                                                                         health care at Vertex
Michael Hermeston (MBA 2008)                                                                            Zach Beresh                                                                               LOOK TOWARD A                                              tell the remarkable
                                                     Claudia Jury (BSIM 1988)                                                                                                                                                     Pharmaceuticals.
Director of Production Operations – Communication,                                                                                                                                                                                                           stories of their individual
Photos and Cloud Products
Google
                                                     Managing Director,
                                                     Co-Head Global Currencies & Emerging Markets
                                                     JP Morgan
                                                                                                        SENIOR DESIGNER
                                                                                                        Alex Hess
                                                                                                                                                                                                  POST-COVID FUTURE
                                                                                                                                                                                                  The unprecedented
                                                                                                                                                                                                                                                             journeys through the
                                                                                                                                                                                                                                                             entrepreneurial process.
                                                                                                                                                                                                                                                                                            LEADERSHIP
                                                                                                                                                                                                  COVID-19 pandemic

                                                                                                                                                                      24
Jertez Hunter (MBA 2013)                                                                                                                                                                                                                                                                    LEADING AND SERVING
                                                     Gunjan Kedia (MSIA 1994)                           PRODUCTION                                                                                has stalled and shifted
Lead Product Development                                                                                Karen Boucher
                                                                                                                                                                                                                                                                                            BY EXAMPLE
                                                     Vice Chairman of Wealth Management                                                                                                           priorities in every industry.
Union Pacific

                                                                                                                                                                                                                                  32
                                                     and Securities Services                                                                                                                                                                                                                Mary Beth Green
Scott Jubeck (BS 2003, MBA 2008)
Vice President, Product
                                                     U.S. Bank                                          COVER STORY
                                                                                                        Seb Murray
                                                                                                                                                                      COLLABORATIVE                                                                          37                             (MBA 2004) expresses
                                                                                                                                                                                                                                                                                            the value of leading and

                                                                                                                                                                                                  28
                                                     Jon R. Kinol (MSIA 1992)
                                                                                                                                                                      PARTNER                                                                                                               serving others.
TeleTracking                                         Founder                                            WRITERS
Kalpesh Kapadia (MSIA 1999)
                                                     Zenik Capital, LLC                                 Aubrey Buberniak, Nicholas Ducassi, Tricia Miller
                                                                                                        Klapheke, Debbi Gardiner McCullough,
                                                                                                                                                                                                                                  DONOR                      CLASS
Chief Executive Officer
Deserve Inc.
                                                     William M. Lambert (MSIA 1990)
                                                     Chairman of the Board (retired)
                                                                                                        Courtney Ryan, Melissa Silmore                                BUILDING
                                                                                                                                                                      CONNECTIONS                 EMERGING                        I M PAC T                  NOTES
                                                     MSA Safety                                         CONTRIBUTORS
Justin Kaufman (MBA 2004)
Pittsburgh Office Managing Partner,                  Jack E. McGrath (MSIA 1961, Trustee)
                                                                                                        Alex Hess, Justin Jakovac, Kara Pasquinelli, Kevin Sprouls    Ted Decker (MSIA 1995) is
                                                                                                                                                                      applying lessons learned
                                                                                                                                                                                                  INSIGHTS                        Participation highlights
                                                                                                                                                                                                                                  and three stories of how
                                                                                                                                                                                                                                                             Updates, Highlights, Awards,
Midwest Advisory Market Leader                       Senior Vice President (retired)                    PHOTOGRAPHY                                                                                                                                          and Accolades.
PricewaterhouseCoopers LLP, PwC Advisory Services                                                                                                                     at the Tepper School to     Learn about recent              together we can make
                                                     Booz, Allen & Hamilton                             Zach Beresh, Ryan Connolly, Alex Hess,
                                                                                                        Howard Korn, Erica Johnson, Anthony Musmanno,                 The Home Depot.             research from three             an impact.
Krista Markert (MSIA 1997)                                                                              Derek White, Michael Williams
Project Management Consultant
                                                     Brian Olsavsky (MSIA 1989)                                                                                                                   Tepper School
                                                     Senior Vice President and                                                                                                                    faculty members.
                                                     Chief Financial Officer                            COVER ILLUSTRATION
Jennifer Milacci (BSIM 1995)                         Amazon                                             Alex Hess
Managing Director, Head of Client Services
Renaissance Institutional Management                 Marc A. Onetto (MSIA 1975)                         Tepper Magazine is published for alumni, students,
                                                     Principal                                          faculty, staff, and friends of the business school.
Brittany Mithra (MBA 2013)                           Leadership From The Mind And The Heart LLC         ©2020 Carnegie Mellon University. All rights reserved.
Sr. Manager, Operations and Supply Chain
Amazon                                               Cindy Padnos (MSIA 1980)                           Please send letters to the
                                                     Founder and Managing Director                      editor and address changes to:
Rob Rice (MBA 2000)                                  Illuminate Ventures                                Office of Advancement
Affiliate Finance Manager                                                                               Tepper School of Business
ExxonMobil Corporation                               James E. Rohr (Trustee)                            Carnegie Mellon University
                                                     Chair, CMU Board of Trustees                       5000 Forbes Avenue
Aurobind Satpathy (MSIA 1996)                        Chairman and CEO (retired)                         Pittsburgh, PA 15213
Senior Partner                                       The PNC Financial Services Group                   412-268-2268
McKinsey & Company                                                                                      teppermagazine@andrew.cmu.edu
                                                     Manoj P. Singh (MSIA 1976, Trustee)
Sujal Shah (MBA 2004)                                Chief Operating Officer (retired)
President & CEO                                      Deloitte Touche Tohmatsu Ltd.
CymaBay Therapeutics Inc.
                                                     David A. Tepper (MSIA 1982, Trustee)
Ranjit Singh (MSIA 1999)                             President and Founder
Principal, Pricing and Profitability,                Appaloosa Management LP
Management Practice Leader
Deloitte                                             Kevin D. Willsey (MSIA 1989)
                                                     Chairman of Global Investment Banking
Susan Smith (MSIA 1996)                              J.P. Morgan Securities Inc.
Management Consultant
FORCE Consulting Group LLC
Isabelle Bajeux-Besnainou - 10th Dean of the Tepper School of Business - Carnegie Mellon University
NEWS FROM THE TEPPER SCHOOL OF BUSINESS

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                                                                                                                                                                                                                                                                    DI G E S T

                                                         Dean’s                                                                                               Class of 2020
                                                                                                                                                              Full-Time MBA

                                                         Letter
                                                                                                                                                              Employment Highlights

                                                                                                                                                             89%                                              87%                                          MSBA Program
                                                                                                                                                                                                                                                           Names Alan
                                                         As           I begin my journey as the 10th Dean of the Tepper School of Business, I am
                                                                      leading on behalf of our community: students, faculty, staff, our Carnegie
                                                         Mellon colleagues, and our alumni. It is difficult to walk through the doors of our impressive
                                                                                                                                                              Received offers by three
                                                                                                                                                              months after graduation
                                                                                                                                                                                                               Accepted offers by three
                                                                                                                                                                                                               months after graduation
                                                                                                                                                                                                                                                           Montgomery
                                                                                                                                                                                                                                                           New Faculty Head
                                                         but sparsely populated Tepper Quad and witness how our community has been impacted by

                                                                                                                                                            $136K
                                                                                                                                                                                                                                                           The online Master of Science in Business
                                                         the events of the past year. From the effects of the coronavirus pandemic to our unrelenting
                                                                                                                                                                                                               Median salary
                                                                                                                                                                                                                                                           Analytics (MSBA) named Professor of
                                                         mission to end systemic racism within our community, we are indeed living through a                                                                                                               Marketing Alan Montgomery as its new

                                                                                                                                                                                                               per year
                                                                                                                                                                                                                                                           faculty head. He succeeds Professor
                                                         challenging time. How do I lead Tepper into brighter days?
                                                                                                                                                                                                                                                           Willem-Jan van Hoeve, who was
                                                                                                                                                                                                                                                           recently named Senior Associate Dean
                                                         One thing I know is that innovation is born of challenge, and uncertainty is a foundation                                                                                                         of Education.

                                                         from which we grow, thrive, and create monumental change that can impact the world.
                                                                                                                                                                                                                                                           Montgomery will lead the program in
                                                         For the better.                                                                                                                                                                                   bringing leading-edge techniques in
                                                                                                                                                                            Mid-Atlantic   15.9%
                                                                                                                                                                               Midwest     12.7%                                                           data analytics into a business context,
                                                                                                                                                                                                                                                           occupying a niche space on the spectrum
                                                         As Dean, I am emboldened to take on these challenges, because I know that we will come                              Northeast     27.0%
                                                                                                                                                                                 South     2.6%                                                            between an MBA and a data science
                                                         out stronger and smarter on the other side. I am committed to the success, health, safety,                                                                                                        degree. He has been teaching the
                                                                                                                                                                             Southwest     6.3%
                                                         and happiness of our entire Tepper community. I am confident that our powerful, collective                                West    28.0%                                                           Analytical Marketing course in the MSBA
                                                                                                                                                                                                                                                           program since the program launched in
                                                         expertise in technology, science, entrepreneurship, and leadership will continue to build a
                                                                                                                                                                                    Asia   4.8%                                                            December 2017.
                                                         culture of excellence that will propel us to new heights.
                                                                                                                                                          Latin America & the Caribbean    2.6%
Tepper School of Business | Carnegie Mellon University

                                                         It is my mission to help grow and strengthen the Tepper School community and show the
                                                         world all that we can accomplish when we work together. I thank you for this opportunity
                                                         and look forward to serving as your Dean.

                                                         With gratitude and excitement,                                                                                                34.6%      Consulting                                       33.0%   Consulting
                                                                                                                                                                                       23.0%      Marketing                                        31.4%   Technology
                                                                                                                                                                                       20.9%      Finance                                          13.1%   Finance
                                                                                                                                                                 Function              13.1%      General Management           Industry             7.3%   Manufacturing

                                                                                                                                                                                                                                                                                                      cmu.edu/tepper
                                                                                                                                                                                        5.8%      Operations                                        6.8%   Biotechnology/Health/Pharmaceuticals
                                                                                                                                                                                        2.6%      Technology                                        3.1%   Energy/Petroleum/Utilities
                                                                                                                                                                                                                                                    2.6%   Other
                                                         Isabelle Bajeux-Besnainou
                                                                                                                                                                                                                                                    1.0%   Consumer Products
                                                         Dean, Tepper School of Business                                                                                                                                                            1.0%   Media/Entertainment
                                                                                                                                                                                                                                                    0.5%   Real Estate
               2                                                                                                                                                                                                                                                                                          3
Isabelle Bajeux-Besnainou - 10th Dean of the Tepper School of Business - Carnegie Mellon University
TE PPE R                                                                                                                                                                                                NEWS FROM THE TEPPER SCHOOL OF BUSINESS

                                                           DI G E S T                                                                                                                                                                                                                                             TE PPE R
                                                                                                                                                                                                                                                                                                                  DI G E S T

                                                                                                          U.S. News & World Report                                                                    Tepper Economists
                                                                                                            The Tepper Undergraduate                                                                  Receive King Mellon
                                                                                                                                                                    #7
                                                                                                            Business Administration
                                                         Taya Cohen
                                                         Receives $4.4
                                                         Million Grant From
                                                                                                            program placed #7 on
                                                                                                            the U.S. News & World
                                                                                                                                                                                                      Foundation Grant
                                                         the John Templeton                                 Report list of 2021 Best
                                                         Foundation                                         Undergraduate Business
                                                                                                                                                                                                      Research aimed at understanding the
                                                                                                                                                                                                      effects of the coronavirus pandemic
                                                                                                                                                                                                                                                   economics research project, “Developing
                                                                                                                                                                                                                                                   a Pandemic Consumption Expenditure             Alumni
                                                                                                            School Programs.                                                                          on consumer behavior received a              Index,” aim to identify and categorize
                                                                                                                                                                                                                                                                                                  Donors
                                                         Taya Cohen, Associate Professor of                                                                                                           $50,000 grant from the Richard King          emerging patterns of consumer behavior.
                                                         Organizational Behavior and Theory, is
                                                         serving as a science of honesty project
                                                                                                                         T E P P E R S C H O O L S P E C I A LT Y R A N K I N G S
                                                                                                                                                                                                      Mellon Foundation.
                                                                                                                                                                                                                                                   The Richard King Mellon Foundation
                                                                                                                                                                                                                                                                                                  Support
                                                         leader on a research team that is                                                                                                            Laurence Ales, Associate Professor           primarily funds projects relating to
                                                                                                                                                                                                                                                                                                  Nicholas Muller
                                                                                                         2             2                2                2                7                9
                                                                                                                                                                                                      of Economics; Rebecca Lessem,                regional economic development and
                                                                                                                                                                                                                                                                                                  in Developing a
                                                         exploring scientific and philosophical
                                                         questions about honesty. The John              #            #                #                #                #                #            Associate Professor of Economics;            conservation, along with education

                                                                                                                                                                                                                                                                                                  New ESG Index
                                                         Templeton Foundation is sponsoring                                                                                                           Chris Telmer, Associate Professor            and human services and nonprofit
                                                         this project with a $4.4 million grant.                                                                                                      of Financial Economics and Head of           capacity building throughout
                                                                                                      Information   Analytics       Quantitative     Production         Finance       Supply Chain    Economics; and Ariel Zetlin-Jones,           southwestern Pennsylvania.
                                                                                                        Systems                      Analysis      and Operations                     Management      Associate Professor of Economics,
                                                         Along with Cohen, the Honesty Project
                                                                                                                                                    Management                        and Logistics                                                                                               A sustainability initiative directed by
                                                         includes three psychology professors                                                                                                         through their micro- and macro-
                                                                                                                                                                                                                                                                                                  Nicholas Z. Muller, Lester and Judith
                                                         from Wake Forest University and is led
                                                                                                                                                                                                                                                                                                  Lave Associate Professor of Economics
                                                         by A.C. Reid Professor of Philosophy
                                                                                                                                                                                                                                                                                                  Engineering & Public Policy, has received
                                                         and Principal Investigator Christian B.
                                                                                                                                                                                                                                                                                                  funding from two alumni donors.
                                                         Miller, also of Wake Forest University.
                                                                                                                                           Dokyun Lee Wins                                                                                                                                        Christopher A. Potter (MSIA 1973) and

                                                                                                                                                                                                      Emily Stark Joins Health Professions
                                                         The research team will use a mix of
                                                         field studies, surveys, laboratory                                                Sponsorship from                                                                                                                                       Kathleen O. Potter, John Levinson
                                                                                                                                                                                                                                                                                                  (MSIA 1980) and Ellen Levinson, along
                                                         and online experiments, and coding
                                                         of qualitative data to study honesty.
                                                                                                                                           McKinsey & Co.                                             Program Advisory Board                                                                      with the Levinson family, recently made
                                                                                                                                                                                                                                                                                                  contributions to this important initiative.
                                                         Cohen—who conducts research on
                                                         honesty, moral behavior, negotiation,                                              In a first for CMU, McKinsey & Company announced          V. Emily Stark, Assistant Teaching Professor of Business
                                                                                                                                                                                                                                                                                                  Led by Muller, the Tepper School
Tepper School of Business | Carnegie Mellon University

                                                         and conflict, and is known in particular                                           research sponsorship for Dokyun Lee, Assistant            Communication, was invited to join the advisory board for
                                                                                                                                                                                                                                                                                                  Sustainability Initiative offers students
                                                         for her research on moral character                                                Professor of Business Analytics, and Ph.D. students       Carnegie Mellon’s Health Professions Program (HPP).
                                                                                                                                                                                                                                                                                                  an opportunity to pursue scholarship,
                                                         in the workplace—will lead research                                                Emaad Manzoor and Mao Chengfeng. The McKinsey
                                                                                                                                                                                                                                                                                                  coursework, and career opportunities in
                                                         on honesty in difficult conversations                                              & Co. sponsorship is in applying AI in                    The HPP is a university-wide advising resource that is
                                                                                                                                                                                                                                                                                                  the ever-growing field of sustainability.
                                                         where people must deliver critical                                                 marketing promotion.                                      available to all CMU students and alumni. Composed
                                                                                                                                                                                                                                                                                                  The initiative encompasses a wide
                                                         feedback to mentees and teammates.                                                                                                           of a diverse group of colleagues from MCS, DC, CIT,
                                                                                                                                                                                                                                                                                                  range of topics, including energy,
                                                                                                                                            Lee founded and co-directs ENAiBLE, a CMU Retail &        SCS, Tepper, and the Center for Student Diversity and
                                                                                                                                                                                                                                                                                                  natural resources, the environment,
                                                                                                                                            Services Collaborative, which is a forum for industry     Inclusion, the advisory board works with the HPP director
                                                                                                                                                                                                                                                                                                  health and social well-being,
                                                                                                                                            leaders to share their challenges with academic           on policy review, resource development, programmatic
                                                                                                                                                                                                                                                                                                  engineering, and architecture.

                                                         14
                                                                                                                                            experts at the forefront of new technology. ENAiBLE,      enhancements, and alumni engagement.
                                                                                                                                            whose mission is to create more humane, efficient,

                                                                                                                                                                                                                                                                                                                                                cmu.edu/tepper
                                                                               This year, the Tepper School’s Ph.D. program
                                                                                                                                            and positive retail and service experiences, recently     Stark has a background in biology and alumni relationships
                                                                               has welcomed 14 new students. Due to the
                                                                                                                                            held its first roundtable to address the use of AI        and has helped to bring greater awareness of the HPP and
                                                                               pandemic and travel restrictions, five of the                during the COVID-19 pandemic.                             its valuable resource to the Tepper community.
                                                                               students began the year remotely with the goal
                                                                               of joining in-person beginning January 2021.
               4                                                                                                                                                                                                                                                                                                                                    5
Isabelle Bajeux-Besnainou - 10th Dean of the Tepper School of Business - Carnegie Mellon University
TE PPE R                                                         In August, the American
                                                                                                                                                                                               Accelerate                                                     NEWS FROM THE TEPPER SCHOOL OF BUSINESS

                                                                                                                                                                                                                                                                                                                  TE PPE R
                                                                                                                            Accounting Association
                                                           DI G E S T
                                                                                                                                                                                               Leadership
                                                                                                                            inducted Shyam Sunder

                                                                                                                                                                                                                                                                                                                  DI G E S T
                                                                                                                            (Ph.D. 1974) into the
                                                                                                                            Accounting Hall of
                                                                                                                            Fame. The Accounting
                                                                                                                            Hall of Fame honors
                                                                                                                                                                                               Center Invites
                                                                        Marketing Science                                   accountants who have
                                                                                                                            made, or are making,                                               MBA Students
                                                                        Institute Names                                     significant contributions
                                                                                                                                                                                               to Enroll in
                                                                                                                                                                                                                                                                                 Ilker Baybars
                                                                                                                            to the advancement of
                                                                         Jeff Galak 2020
                                                                          MSI Scholar
                                                                                                                            accounting since the
                                                                                                                            beginning of the                                                   the Curiosity
                                                                                                                            20th century.
                                                                                                                                                                                               Project                                                                           Celebrates 50
                                                                         The Marketing Science Institute announced its
                                                                        2020 class of MSI Scholars, naming Associate
                                                                                                                                                                                                                                                                                 Years at Tepper
                                                                                                                                                                                               The Accelerate Leadership Center announced that all first-year
                                                                      Professor of Marketing Jeff Galak a 2020
                                                                                                                                                                                               full-time MBA students can enroll in the Curiosity Project.
                                                                   Scholar. The MSI Scholars Program was developed                                                                                                                                                                Ilker Baybars, George Leland Bach Chair, Professor
                                                                                                                                                                                               An entirely optional program, the Curiosity Project is a curated
                                                             to recognize excellence in marketing scholarship, develop
                                                         a cohort across marketing disciplines, and strengthen ties
                                                                                                                          Erina Ytsma                                                          student-to-student networking action plan focused on
                                                                                                                                                                                                                                                                                  of Operations Management, and Dean and CEO Emeritus
                                                                                                                                                                                                                                                                                  of the Qatar campus of CMU, is celebrating an impressive
                                                         between scholars and MSI.                                        Joins the World                                                      expanding key leadership skills, such as asking questions and
                                                                                                                                                                                               listening with curiosity, as well as allowing students to share
                                                                                                                                                                                                                                                                                  milestone of 50 years at Tepper.

                                                         Galak specializes in behavioral psychology, behavioral
                                                                                                                          Economic                                                             their lived experiences with peers.
                                                                                                                                                                                                                                                                                  Baybars came to CMU in late August of 1970 as a student and
                                                         experimentation, consumer behavior, decision-making,             Forum’s Global                                                       Intended to be loose and fun, as well as insightful and personal,
                                                                                                                                                                                                                                                                                  joined the faculty in 1978, eventually serving as Associate
                                                         and marketing research.
                                                                                                                          Future Council                                                       the goal of the Curiosity Project is to help increase empathy
                                                                                                                                                                                                                                                                                  Dean in 1985, Deputy Dean in 1992, and Acting President
                                                                                                                                                                                                                                                                                  of the Carnegie Bosch Institute for Applied International
                                                                                                                          Fellows Program                                                      for others and awareness of oneself by practicing the art of
                                                                                                                                                                                               conversation with someone new. It also aims to help students
                                                                                                                                                                                                                                                                                  Studies in 1997. He was director of the Tepper School’s MBA
                                                                                                                                                                                                                                                                                  program from 1984 to 1997, oversaw the Undergraduate
                                                                                                                                                                                               strengthen their curiosity muscle so that they can use it with
                                                                                                                                                                                                                                                                                  Business Administration program from 1990 to 1994, and
                                                                                                                          The World Economic Forum’s Global Future Councils (GFC)              ease when needed in professional settings.
                                                                                                                                                                                                                                                                                  served for six years as the Dean and CEO of the Qatar
                                                                                                                          named Erina Ytsma, Assistant Professor of Accounting, a                                                                                                 campus of CMU.
                                                                                                                          fellow for the council on the New Agenda for Work, Wages
                                                                                                                          and Job Creation. GFC Fellows are postdoctoral scholars
                                                                                                                                                                                                                  Sunkee Lee Awarded MK-AKMS
                                                                                                                          at leading universities with a future-looking and systems-
                                                                                                                                                                                                                  Young Scholar Award                                             Ilker Baybars played a central role in
                                                                                                                          oriented mindset. Fellows play a crucial role in councils by being
                                                                                                                          responsible for capturing, synthesizing, and disseminating
                                                                                                                                                                                                                                                                                  growing a small, innovative master’s
                                                         INFORMS Awards                                                   knowledge and insights from the councils’ deliberations.                                 Assistant Professor of Organizational                          program to one from which, each year,
                                                         Nicola Secomandi Best                                            Ytma’s research focuses on topics in organizational and labor
                                                                                                                                                                                                                   Theory and Strategy Sunkee Lee was
                                                                                                                                                                                                                   honored with the MK-AKMS Young Scholar
                                                                                                                                                                                                                                                                                  hundreds of graduates assume leadership
                                                         Publication Award                                                economics and the economics of digitization and innovation.                              Award. The award was launched three                            roles in prominent companies throughout
                                                                                                                          She is particularly interested in incentive systems and the                              years ago by Maekyung Media Group,                             the world. Having witnessed this
                                                         The Institute for                 Management; and
                                                                                                                          organization of work in the digital age and in the context of                            owner of South Korea’s largest business
                                                                                                                                                                                                                                                                                  transformation, I am still in awe of Ilker’s
                                                                                                                          knowledge work and innovation.                                                           newspaper, Maeil Business Newspaper, and
                                                         Operations Research and           Stephen Smith, Research
                                                                                                                                                                                                                   the Association of Korean Management                           vision for what the school could become,
                                                         the Management Sciences           Professor at CMU’s
                                                                                                                                                                                                                   Scholars (AKMS) to contribute to the career                    and his skillful management of the
                                                         honored Professor of              Robotics Institute.
                                                                                                                                                                                                                   development of young Korean scholars
                                                                                                                                                                                                                                                                                  transformation that realized his vision.
Tepper School of Business | Carnegie Mellon University

                                                         Operations Management                                                                           Matthew Denes, Assistant                                  in the global academic community. Lee’s
                                                         and Ph.D. Program Head            The ENRE Best Publication                                     Professor of Finance,
                                                                                                                                                         received a gift from The
                                                                                                                                                                                                                   research focuses on organization design,                       Dennis Epple,
                                                         Nicola Secomandi with             Award in Environment
                                                                                                                                                         Annie E. Casey Foundation                                 organizational learning, exploration and                       Thomas Lord Professor of Economics
                                                         a Best Publication                and Sustainability is
                                                                                                                                                         for his paper, “Securing the                              exploitation, incentives, spatial design, and
                                                         Award in Environment              given annually to the best                                    Gig: Youth Employment,                                    microfoundations of strategy.
                                                         and Sustainability.               refereed journal article in                                   Entrepreneurship, and the Rise
                                                                                           the areas of interest for                                     of the Platform Economy.”
                                                         Secomandi’s paper,                Energy, Natural Resources,
                                                                                                                                                         The Annie E. Casey Foundation
                                                         “Managing Wind-Based              and the Environment
                                                                                                                                                         invests in innovative ideas,
                                                         Electricity Generation in         (ENRE) Section. The                                           practices, and policies that                                                     Brianna Agyemang awarded Executive of the Year Award
                                                         the Presence of Storage           objective of the award is to                                  help build a brighter future for

                                                                                                                                                                                                                                                                                                                                                cmu.edu/tepper
                                                         and Transmission                  recognize the contributions                                   children who face significant
                                                                                                                                                                                                                                          Brianna Agyemang (B.A. in Economics, Class of 2010) and Jamila Thomas of Atlantic
                                                         Capacity,” was co-authored        of ENRE members to the                                        obstacles on the road to
                                                                                                                                                         adulthood. Denes researches                                                      Records, who led ‘The Show Must Be Paused’ campaign in response to the deaths of
                                                         by Yangfang (Helen) Zhou          field of environment                                                                                                                           George Floyd, Breonna Taylor and Ahmaud Arbery earlier this year, will receive the
                                                                                                                                                         empirical corporate finance,
                                                         (Ph.D. 2012); Alan Scheller-      and sustainability in                                         private equity, venture capital,                                                 Executive of the Year Award at Billboard’s 2020 Women in Music Event.
                                                         Wolf, Richard M. Cyert            Operations Research and                                       entrepreneurship, and
                                                         Professor of Operations           Management Science.                                           political economy.
               6                                                                                                                                                                                                                                                                                                                                    7
Isabelle Bajeux-Besnainou - 10th Dean of the Tepper School of Business - Carnegie Mellon University
BY COURTNEY RYAN
                                                                                                                                                                                                          TEPPER E X PER T S FIND POSITI V E WAYS TO LOOK TOWA R D A POS T- COV ID FU T UR E                                  TRENDING TOPICS
                                                                                                                                                                                                          the expected premature deaths due to air             Yet while employers contend with where             transparency, and visibility across digital supply
                                                                                                                                                                                                          pollution from personal vehicle travel and           and how their employees physically work, a         networks, and this ultimately increases the
                                                                                                                                                                                                          electricity use are estimated to have declined by    new workforce option continues to emerge.          adaptability and strength of digital
                                                                                                                                                                                                          approximately 360 deaths per month, or about         Automation in manufacturing has long been          supply networks.
                                                                                                                                                                                                          25 percent of the baseline of 1,500 deaths. The      underway as the Fourth Industrial Revolution,
                                                                                                                                                                                                          study also estimated that social distancing likely   also known as Industry 4.0, has continued to       “In the short term, basic AI technologies can
                                                                                                                                                                                                          resulted in a loss of roughly 46 million metric      push for innovations in AI and smart technology    keep the lights on in the factories, enable
                                                                                                                                                                                                          tons of carbon dioxide emissions per month —         in order to improve production while lessening     remote control of the shop floor activities
                                                                                                                                                                                                          essentially a 19 percent decline.                    reliance on human intervention.                    despite potentially large numbers of sick or
                                                                                                                                                                                                                                                                                                                  quarantined employees and required social
                                                                                                                                                                                                          Further, by assuming a value of statistical life —   In a recent study published in Social Science      distancing measured,” concludes the study.
                                                                                                                                                                                                          a common measure of the value of reductions          Research Network, Professor Sridhar Tayur,
                                                                                                                                                                                                          in the risk of mortality — of $9 million and a       Ford Distinguished Research Chair; University      Finally, Carnegie Mellon Associate Professor
                                                                                                                                                                                                          social cost of carbon of $50 per ton, the study      Professor of Operations Management, along          of Marketing Jeff Galak co-authored a paper
                                                                                                                                                                                                          estimated the environmental benefit of stay-         with researchers from West Virginia University,    with fellow behavioral scientists to help firms
                                                                                                                                                                                                          at-home and social distancing measures in the        University of Iowa, and Johns Hopkins              address how an era marked by uncertainty,
                                                                                                                                                                                                          United States is $5.5 billion per month.             University’s Carey Business School, analyzed       isolation, and excess information has
                                                                                                                                                                                                                                                               how COVID-19 is improving the case for an          affected consumers.
                                                                                                                                                                                                          While this study offers a silver lining for the      AI-inspired digital transformation in
                                                                                                                                                                                                          current pandemic climate, it also suggests that      manufacturing and supply networks.                 In the paper, the authors explain that in the
                                                                                                                                                                                                          institutions that promote remote work and                                                               context of high uncertainty, consumers are
                                                                                                                                                                                                          retail delivery opportunities will continue to       The researchers observed that even as some         more likely to seek control either by digging
                                                                                                                                                                                                          be necessary for societal health following the       strapped organizations are abandoning “non-        into the hobbies and interests where they feel
                                                                                                                                                                                                          pandemic. This in turn has sent researchers          essential” plans to implement AI technology        most like experts or, adversely, by adopting a
                                                                                                                                                                                                          digging for clarity and finding a few                in an effort to concentrate all efforts on         changed mindset and exploring new territories.
                                                                                                                                                                                                          positive results.                                    responding to the immediate impact of the          In either case, brands will benefit by
                                                                                                                                                                                                                                                               pandemic in the short term, there is evidence      remaining consistent in messaging and
                                                                                                                                                                                                          As companies continue to both embrace and            that embracing AI could help manufacturers
                                                                                                                                                                                                          scruple with the effects of working remotely,        combat uncertainty and become more resilient
                                                                                                                                                                                                          Anita Williams Woolley, Associate Professor          to disasters.
                                                                                                                                                                                                          of Organizational Behavior and Theory at
                                                                                                                                                                                                          the Tepper School of Business, offers                The team recognized that since job losses
                                                                                                                                                                                                          suggestions to ultimately minimize stress and        in the U.S. exceeded 33.5 million by early
                                                                                                                                                                                                          communication issues while still promoting           May 2020, it’s understandable that many are        The authors warn that brands should also
                                                                                                                                                                                                          successful collaboration.                            concerned with the implications of a “jobless      expect customers to appear less satisfied
                                                                                                                                                                                                                                                               future” and are therefore hesitant to further      with their purchases since uncertainty blunts
                                                                                                                                                                                                          In an op-ed titled “Best Practices for Working       reduce human jobs by adopting AI technology.       our ability to consider the consequences of
                                                                                                                                                                                                          Remotely,” Woolley draws from her research           However, the study determined that the vast        our actions. For this, the authors suggest that
                                                                                                                                                                                                          to posit that remote work opens the doors for        majority of COVID-related job losses have          brands adopt more flexible return policies to
                                                                                                                                                                                                          greater diversity.                                   been concentrated in sectors with low AI,          restore loyalty and trust. Additionally, since
                                                                                                                                                                                                                                                               which suggests that an AI-inspired digital         consumers are inundated with information
Tepper School of Business | Carnegie Mellon University

                                                                                                                                                                                                                                                               transformation might have actually helped to       these days, they are more likely to view a brand
                                                                                                                                                                                                                                                               mitigate job losses.                               favorably if said brand can offer a simple and
                                                                                                                                                                                                                                                                                                                  clear purchasing process. And finally, all firms
                                                                   he unprecedented COVID-19 pandemic      A new study conducted by Professor              Using cell phone data to measure changes                                                            Throughout the study, the researchers observe      can benefit by leveraging any social benefits
                                                                   has stalled and shifted priorities in   Nicholas Muller, Lester and Judith              in mobility from February to April 2020, the                                                        where and how AI technology is implemented,        gained by using their products during this
                                                                   every industry, and uncertainty still   Lave Associate Professor of Economics,          researchers connected emissions from travel                                                         finding that AI-driven transformation can          time of isolation. Ultimately, any brand that
                                                             looms large on the horizon. While many        Engineering, and Public Policy — along with     and electricity use to changes in ambient                                                           address product lifecycle issues such as design,   addresses some of these stressors among its
                                                             of the pandemic’s direct consequences         researchers at the University of Chicago, the   fine particulate matter and                                                                         manufacturing, sustainability, and resilience.     consumer base is likely to build a more solid
                                                             have been catastrophic, such as rising        University of North Carolina, Greensboro,       evaluated the associated                       she writes, explaining that diversity of surface-    In turn, the adoption of such technologies has     foundation post-pandemic.
                                                             unemployment rates and a staggering loss of   Dartmouth College, and the University of        reductions in expected                         level characteristics among team members             actually resulted in increased connectivity,
                                                             human life, other consequences — including    North Carolina at Chapel Hill — found that      adverse health effects from                    tends to prime a heightened sense of attention                                                          While no study or theory may completely grasp

                                                                                                                                                                                                                                                                                                                                                                       cmu.edu/tepper
                                                             the swift transition to remote work and       stay-at-home policies have not only reduced     exposure to pollution. The                     and concentration between members, which                                                                the entirety of the COVID-19 pandemic, it is
                                                             learning — pose unexpected opportunities      toxic emissions and energy use, but have        results are promising: For a                   in turn promotes collective attention and                                                               clear that the crisis will eventually end and that
                                                             for growth.                                   likely prevented premature deaths.              month of social distancing,                    satisfaction. “If time zones and technology                                                             organizations that make thoughtful decisions
                                                                                                                                                                                                          allow, people from all over the world can                                                               today may come out ahead in a different, and
                                                                                                                                                                                                          work together.”                                                                                         possibly better, future. ―
               8                                                                                                                                                                                                                                                                                                                                                           9
Isabelle Bajeux-Besnainou - 10th Dean of the Tepper School of Business - Carnegie Mellon University
COVER
STORY   WINDS OF CH A NGE // DE A N IS A BELLE BA JEUX- BESN A INOU                                                                                                                                                                                                          BY SEB MURRAY
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                                                                                                                                      “The timing is not ideal; I was not actively       She spotlights data analytics as being             Evelyn Pierce, Teaching Professor of
                                                                                                                                      on the job market, but I was chased by a           of special importance to this dynamic              Business Management Communication and

                         Winds of
                                                                                                                                      very persistent headhunter,” recalls Bajeux-       environment; business leaders need to              a member of the hiring committee, says
                                                                                                                                      Besnainou, 56. “And the more I learnt about        analyze information in real time and use the       Bajeux-Besnainou was distinctive because
                                                                                                                                      the Tepper School, the more I could see            insight gleaned to make quick and effective        she did not submit a strategic plan in the
                                                                                                                                      that it has all of the right ingredients to be a   decisions. And recruiters find such abilities      interview process; she wanted to speak to
                                                                                                                                      very top business school. It was an amazing        to be invaluable.                                  the key stakeholders first.

                                                           Change
                                                                                                                                      opportunity that I could not pass up.”
                                                                                                                                                                                         “Tepper is a top business school already, but      “It wasn’t that she hadn’t done her research;
                                                                                                                                      She highlights the close collaboration             I think it can become greater still because it’s   she wanted to lead by relationship-building
                                                                                                                                      between world-leading faculty across               at the center of a world-leading university        — that was refreshing,” says Pierce. “It made
                                                                                                                                      Carnegie Mellon, from the School of                that focuses on technology, data, and              her the unanimous first choice of all the
                                                                                                                                      Computer Science to the College of Fine Arts.      analytics,” says Bajeux-Besnainou. “This is        deans at other CMU schools. They saw her
                                                                                                                                      Bajeux-Besnainou says cross-disciplinary           the DNA of CMU.”                                   as someone who will be their partner,
                                                                                                                                      learning is fertile ground for innovation and                                                         not a competitor.”
                                                                                                                                      creativity that will be crucial for companies      And when it comes to cultivating data
                                                                                                                                      as they emerge from the pandemic.                  literacy and many other specialist abilities,      This perspective of Bajeux-Besnainou is
                                                                                                                                                                                         the experiential, skills-based learning that       echoed by Gunjan Kedia, who serves on the
                                                                                    ***                                               She believes a wide array of perspectives          is the Tepper School’s hallmark is the gold        Tepper School’s Business Board of Advisors.
                                                                                                                                      also enriches the learning experience of           standard. What’s more, cross-campus                “Isabelle is likeable, relatable, empathetic,

                                                                      Isabelle Bajeux-Besnainou                                       students through group discussion. And
                                                                                                                                      fresh infrastructure at the Tepper School
                                                                                                                                                                                         collaboration is at the heart of this approach.
                                                                                                                                                                                         “Practical learning forces us to think about
                                                                                                                                                                                                                                            very easy to talk to,” says Kedia, who met
                                                                                                                                                                                                                                            the new dean for the first time after her

                                                                       Dean, Tepper School of Business                                is the conduit through which this diverse
                                                                                                                                      academic knowledge flows, embodied by the
                                                                                                                                                                                         the future, not only what happened in the
                                                                                                                                                                                         past,” Bajeux-Besnainou says. “It pioneers a
                                                                                                                                                                                                                                            appointment. “She asked me about the role
                                                                                                                                                                                                                                            of the Business Board, what the other CMU
                                                                                                                                      new $201 million David A. Tepper Quadrangle        new way of teaching and addressing                 schools needed, and what I think should be
                                                                                                                                      (Dammon’s legacy). The state-of-the-art            business problems.”                                on her priority list.”
                                                                                                                                      teaching facilities connect all seven campus
                                                                                                                                      colleges and reimagine the purpose of a
                                                                                                                                      business school.                                   ***

                                                                                    I
                                                                                           t was not exactly a warm welcome.                                                             Those who were involved in hiring
                                                                                           Isabelle Bajeux-Besnainou was on the            “I don’t think of                             Bajeux-Besnainou recall being endeared by
                                                                                           long drive from Montreal to Pittsburgh,                                                       her balance of confidence and humility. Her
                                                                                           to become the 10th Dean of the                  business as a siloed                          inclusive style of “servant leadership” made
                                                                                                                                                                                         her an instant favorite with the faculty, who
                                                                                     Tepper School of Business, when she was               discipline,” says                             praise her empathy, listening, persuasion,
                                                                                     struck by a visual reminder of what would
                                                                                     become the toughest test of her tenure to             Bajeux-Besnainou.                             and foresight.
                                                                                     date. The closed border between Canada
                                                                                     and the U.S. underscores the challenges
                                                                                                                                           “To solve problems,                           “She recognizes that — alone — she is not
                                                                                     of the coronavirus pandemic and resulting             you need to                                   going to make anything happen,” says
                                                                                     economic fallout.                                                                                   Anita Williams Woolley, Associate Professor
                                                                                                                                           build bridges                                 of Organizational Behavior and Theory, and
                                                                                     However, Bajeux-Besnainou, an academic                between academic                              co-chair of the search committee. “She is
                                                                                                                                                                                         committed to the idea of building a vision
                                                                                     lifer, relishes the trials to come. She joined
                                                                                     the Tepper School from McGill University’s            disciplines. Because                          for the future together with the faculty.
                                                                                                                                                                                         That quickly made her the frontrunner.”
                                                                                     Desautels Faculty of Management on
                                                                                                                                           otherwise business
                                                                                     Oct. 15 (taking over from Robert Dammon)
                                                                                     and believes the business school is                   just doesn’t work.
                                                                                     strategically positioned to succeed in
                                                                                                                                           There is no other

                                                                                                                                                                                                                                                                                             cmu.edu/tepper
                                                                                     the current age of upheaval.
                                                                                                                                           way to reinvent
                                                                                                                                           business in a post-
                                                                                                                                           COVID-19 world.”
                                                                                                                                                                                                                                                                                             11
Isabelle Bajeux-Besnainou - 10th Dean of the Tepper School of Business - Carnegie Mellon University
COVER
STORY                                                    DEAN ISABELLE BAJEUX-BESNAINOU                                                                                                                                                                                                                                                 WINDS OF CHANGE

                                                         Jim Rohr, Chairman of the Board of                After 21 years at George Washington, she          study method of teaching that has                 among our professors, that does not bode        Yet the closure of campuses nationwide in
                                                         Trustees of Carnegie Mellon, highlights           was headhunted for the dean’s job at McGill,      underpinned graduate business education           well with prospective students. We need to      the spring, including Carnegie Mellon, and
                                                         Bajeux-Besnainou’s strong track record as         joining in 2015. She would spend five years       for decades. “I would not say the case            be incredibly supportive in making sure that    coronavirus restrictions on their reopening
                                                                                                                                                                                                                                                                                                                           “There is a huge effort
                                                         an innovator. “She invented a number of new       in Montreal raising research excellence,          method is not useful, but it only looks at        when we hire more diverse faculty, we offer     have forced more investment in technology                   we have to make in
                                                         programs when she was at McGill, and her          financial sustainability, and community           the past,” she says. “With the current crisis,    the support they need to be successful. It’s    to keep classes running remotely. The Tepper
                                                         ability to integrate other disciplines into a     impact through experiential and                   there is no blueprint about how to handle         about intentionality.”                          School’s experience with its long-established               communicating to
                                                         business school is extremely important,”          interdisciplinary learning. She also              a pandemic. We need to invent different                                                           Part-Time Online Hybrid MBA meant the
                                                                                                                                                                                                                                                                                                                           the business world
                                                         he says.                                          oversaw the expansion of teaching                 methods to solve business problems.”              Change is required in the curriculum itself,    transition for faculty was relatively smooth.
                                                                                                           facilities at the business school.                                                                  she adds, noting that relatively few case                                                                   and to prospective
                                                         “We are a very forward-looking institution,                                                         Meanwhile, the standout success of                studies feature a black or other minority       And Bajeux-Besnainou expects online
                                                         uniquely positioned with a focus on AI,           Perhaps the crowning achievement of her           specialized master’s programs across              ethnic protagonist — a problem that is not      learning to proliferate even after the
                                                                                                                                                                                                                                                                                                                           students everywhere
                                                         robotics, and big data. For Isabelle to be        tenure, though, was the creation of the           subject areas has convinced her that the          unique to the Tepper School.                    pandemic. Yet the coronavirus has also                      that we have the
                                                         able to incorporate these developments, so        Bensadoun School of Retail Management             MBA, long the flagship graduate business                                                          highlighted a craving for human interaction.
                                                         crucial to the future of business, into various   in collaboration with Circle K, the Canadian      degree, will be diminished in prominence in                                                       “I have never thought that 100 percent online               right positioning and
                                                         management courses, would be terrific for         convenience store. This is in addition to a       the years ahead.                                     “We need to ensure the                       programs are the way to go,” she says.                      strengths. I want the
                                                         our students.”                                    Retail Innovation Lab where students work
                                                                                                           with employers to define the future of retail.    “In no way do I think the MBA is dead, but it        professors are teaching                      “Teaching on these courses can be                           world to know that
                                                         ***                                                                                                 will become a slimmer market — it already            about why diversity                          frustrating because you feel like you don’t
                                                                                                                                                                                                                                                                                                                           Tepper is the business
                                                                                                           Former colleagues describe her as                 has become one, with some schools closing                                                         know the students well enough. The hybrid

                                                         Born and raised in Paris, Bajeux-Besnainou
                                                                                                           highly imaginative and collaborative.             their programs,” she says. “I believe there          matters and how you                          version is a very powerful model as it                      school of the future.”
                                                                                                           Mark Michaud, Director of Administration          will be more balance between MBAs and                                                             provides students with flexibility, but also the
                                                         attended the École Normale Supérieure,
                                                                                                           at McGill’s Desautels Faculty of Management,      specialist master’s degrees, which are
                                                                                                                                                                                                                  improve businesses                           opportunity to network in person and have
                                                         one of the most selective and prestigious
                                                         graduate schools in France. She went on
                                                                                                           says, “She liked to solicit ideas. She was        becoming very important and in ever higher           and society when you                         a stronger sense of community.”
                                                                                                           forward-looking, whether it was designing         demand. We will need to think carefully
                                                         to earn a doctorate in mathematics from
                                                                                                           new programs or infrastructure. She was           about this balance at Tepper.”
                                                                                                                                                                                                                  bring diverse points                         Bajeux-Besnainou’s colleagues are hoping
                                                         Université Paris-Dauphine-PSL, writing her
                                                         thesis on applying mathematical models to
                                                                                                           fearless, never backed down, but yet was                                                               of view to problem-                          she will innovate at the Tepper School, which
                                                                                                           very warm. She always gave people the             Like other deans across America, she                                                              is primed for continued success with its
                                                         financial markets.
                                                                                                           opportunity to speak up. Her door was             pledges to renew her institution’s focus             solving,” says Bajeux-                       new building, its technology expertise, and

                                                         From there, she was hired by France’s ESSEC
                                                                                                           always open.”                                     on racial justice following the Black Lives
                                                                                                                                                                                                                  Besnainou. “It’s not just                    its world-leading, online delivery capacity.
                                                                                                                                                             Matter protests that erupted in response to                                                       “Isabelle’s job is to put all these ingredients
                                                         Business School as a finance professor.
                                                         After four years, she moved to New Jersey
                                                                                                           Liette Lapointe, Vice-Dean of Programs            the police killing of George Floyd. Diversity        about social justice.                        together and take us to the next level. I don’t
                                                                                                           at Desautels, says that Bajeux-Besnainou          and inclusion have always been important                                                          know what that will look like, but boy am I
                                                         in the U.S. with her husband and young son
                                                                                                           is one of the most driven people she has          to Bajeux-Besnainou, who is one of
                                                                                                                                                                                                                  Yes, that is crucial,                        excited to find out,” says Pierce.
                                                         (“it was as close to New York as we could
                                                         afford”), and worked as a visiting professor
                                                                                                           ever worked with. “She has tons of ideas          relatively few female deans of top business          but diversity is better
                                                                                                           and is very energetic. I know she has             schools. “I’ve always been in a heavily male                                                      “The education landscape is changing so
                                                         in Montreal. After having her second child
                                                                                                           grand ambitions and I’m sure she will push        dominated environment,” she says, adding             for both society                             quickly that there are many opportunities
                                                         (she has three kids now) the family moved to
                                                         Washington, D.C., where Bajeux-Besnainou
                                                                                                           forwards tons of new projects at the Tepper       that she was the only woman in the                   and business.”                               for us to do something different. I believe
                                                                                                           School. They are lucky to have her.”              finance department when she joined                                                                students want institutions that don’t just
                                                         landed a job at George Washington
                                                                                                                                                             George Washington.                                                                                maintain the status quo, but are making
                                                         University’s School of Business.
                                                                                                           Henry Mintzberg, a professor in the                                                                                                                 business education more relevant.”
                                                                                                           Desautels Faculty of Management, adds:            Diversity and inclusion have long been
                                                         Passionate about research and teaching,
Tepper School of Business | Carnegie Mellon University

                                                                                                           “I found Isabelle to be very supportive and       priorities at the Tepper School, giving Bajeux-   ***                                             True to form, Bajeux-Besnainou says that she
                                                         she became Chair of the Finance
                                                                                                           very helpful with my sometimes challenging        Besnainou a solid foundation to build on.                                                         will not impose her vision. “During the first
                                                         Department. After discovering a love of
                                                                                                           requests. Managing a management school,           “This is definitely a huge challenge,” she        Looking ahead, one priority and challenge       month as a dean, it’s incredibly important to
                                                         leadership, she became Associate Dean
                                                                                                           with so many professors who think they            says. “I think it’s incredibly important too.     will be to continue to draw international       listen and to learn, not to rush into changes,”
                                                         for Undergraduate Programs. One key
                                                                                                           know so much about management, is no              There’s an awakening right now in the U.S.,       students to the Tepper School amid a            she says. “You need to grasp the aspiration
                                                         achievement was reforming the bachelor’s
                                                                                                           easy task. Isabelle pulled it off.”               and we need to take a very proactive, not         clampdown on immigration in the U.S., as        of all the constituents — professors, staff,
                                                         degree in business administration, making
                                                                                                                                                             reactive, approach to effect significant          well as travel restrictions around the world    students, alumni. Everyone has been
                                                         it compulsory for students to select a
                                                                                                                                                             positive change. The good thing is that           and the temporary closure of embassies          incredibly generous with their time.”
                                                         double major outside the business school.
                                                                                                           ***                                               there is recognition from the whole Tepper        that issue visas. “The strength of the U.S.
                                                         “Wall Street came to Washington to hire my
                                                                                                                                                             community that this issue needs to                has been and always will be thanks to           Long-term, her goal is to raise awareness of
                                                         students because they had a breadth and
                                                                                                           Outlining her vision for the future of business   be addressed.”                                    immigration, and in particular the ability      the unique strengths of the Tepper School

                                                                                                                                                                                                                                                                                                                                                          cmu.edu/tepper
                                                         depth of knowledge, and could broaden
                                                                                                           education, Bajeux-Besnainou says she’s keen                                                         to bring top brains from so many different      that drew her south from Montreal.
                                                         the horizons of the banks,” she says.
                                                                                                           to develop closer links with industry so that     She spotlights the dearth of black faculty at     countries. I am quite optimistic this flow of
                                                                                                           students at the Tepper School develop skills      the business school as being one of the key       talent will continue after COVID-19,” says
                                                                                                           that make them ready for the job market.          challenges. “If there is very little diversity    Bajeux-Besnainou.
                                                                                                           She envisions a pivot away from the case
                                                                                                                                                                                                                                                                                  Isabelle Bajeux-Besnainou,
                                                                                                                                                                                                                                                                                  10th Dean of Carnegie Mellon
12                                                                                                                                                                                                                                                                                University’s Tepper School of Business                                  13
Isabelle Bajeux-Besnainou - 10th Dean of the Tepper School of Business - Carnegie Mellon University
VP

A PRECISE
                                                         V E R S AT I L E PAT H F I N D E R // A M I T S AC H D E V ( B S I M 19 9 0)                                                                                                           BY NICHOLAS DUCASSI
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  DYSSEY                                                     “I WANT THE COUNTRY THAT ELIMINATED
                                                             POLIO AND MAPPED THE HUMAN GENOME TO
                                                             LEAD A NEW ERA OF MEDICINE ... TO BRING
                                                             THE COUNTRY CLOSER TO CURING DISEASES
                                                                                                                                        For Tepper alumnus and current Vertex EVP and Chief Patient
                                                                                                                                        Officer Amit Sachdev, the State of the Union represented a
                                                                                                                                        highlight of nearly a decade of tireless work. Having helped
                                                                                                                                        shepherd the Boston-based company to multiple breakthrough
                                                                                                                                        medical treatments, ten-fold growth, and R&D sites and offices
                                                                                                                                                                                                                I REALIZED PRETTY
                                                                                                                                                                                                                QUICKLY I WANTED
                                                                                                                                                                                                                TO DO SOMETHING
                                                                                                                                                                                                                THAT I FELT MORE
                                                                                                                                                                                                                PURPOSEFUL ABOUT
                                                                                                                                                                                                                — SOMETHING LESS
                                                                                                                                                                                                                ABOUT INVESTING AND
                                                                                                                                                                                                                MORE ABOUT PUBLIC
                                                             LIKE CANCER AND DIABETES,” PROCLAIMED                                      across four continents, the presidential mention further validated
                                                                                                                                        his decision to join Vertex when the company had just one office,
                                                                                                                                                                                                                POLICY AND HELPING IN
                                                             PRESIDENT OBAMA IN HIS 2015 STATE OF THE
                                                                                                                                        no commercial operations, and no profit.                                OTHER WAYS.
                                                             UNION ADDRESS. As Obama announced the launch of a
                                                             new precision medicine initiative, the Capitol building erupted in         “Precision medicine,” also known as “personalized medicine,”
                                                             applause. 27-year-old cystic fibrosis patient Bill Elder, a guest that     targets a disease’s genetic roots to modify the course of a disease
                                                             night of First Lady Michelle Obama, listened live as the president         or even prevent it. “That’s what Vertex does,” says Sachdev. “We
                                                             explained the catalyst: “In some patients with cystic fibrosis,” a         use different approaches — small molecules, cell therapies, gene
                                                             rare, life-threatening genetic lung disease, “this approach has            therapies — to create innovative, transformative medicine for
                                                             reversed a disease once thought unstoppable.”                              serious diseases.”
Tepper School of Business | Carnegie Mellon University

                                                             That approach is Kalydeco, a breakthrough treatment developed              But the journey from research to market can be decades-long,
                                                             by Vertex Pharmaceuticals that targets the genetic roots of the            laden with setbacks, and require serial rounds of massive financial
                                                             disease, earning it the distinction from Forbes as “The Most               investment. Sachdev’s odyssey from finance and data analysis
                                                             Important New Drug Of 2012” and winning the First Annual Forbes            classes at Carnegie Mellon to helping bring hepatitis C, cystic
                                                             Breakthrough Drug Award for “dramatically improving the lives              fibrosis, and hopefully Type 1 diabetes and sickle cell disease
                                                             of patients and conquering a scientific challenge that had vexed           treatments to the world was similarly winding, carrying him
                                                             researchers for decades.”                                                  over a million miles across numerous international borders with
                                                                                                                                        stopovers at law school, Wall Street, and Capitol Hill. Over the last
                                                             “I’m so lucky to be a living, breathing example of how precision           two years, this has led to the creation of a new MBA track in health
                                                             medicine can work,” Elder told the Cystic Fibrosis Foundation              care at the Tepper School of Business.
                                                             shortly after the State of the Union. “I started taking a

                                                                                                                                                                                                                                                                      cmu.edu/tepper
                                                             breakthrough treatment for cystic fibrosis a few years ago, and it
                                                             has changed my life. This new treatment is allowing me to pursue
                                                             my dreams. Without Kalydeco, I know I would get sick a lot more                                                                                    Amit Sachdev (BSIM 1990)
                                                                                                                                                                                                                EVP and Chief Patient Officer
                                                             often, but since taking the drug, I haven’t had a flare-up.”                                                                                       Vertex Pharmaceuticals

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Isabelle Bajeux-Besnainou - 10th Dean of the Tepper School of Business - Carnegie Mellon University
VP                                                       V ER S ATILE PATHFINDER                                                                                                                            A M I T S AC H D E V ( B S I M 19 9 0)

                                                                                                                                                                                                                                                                                                               TEPPER’S
                                                         NATURE MEETS NURTURE
                                                         As a child, Sachdev spent countless hours
                                                                                                         medicines sent to Africa, further sharpened
                                                                                                         his skills. “I was problem-solving from the
                                                                                                                                                          number of patients who were diagnosed.
                                                                                                                                                          Within two years, Sachdev also led the
                                                                                                                                                                                                            While it was initially approved to treat
                                                                                                                                                                                                            around 4 percent of CF patients, Vertex
                                                                                                                                                                                                                                                             exposure to different types of problems and
                                                                                                                                                                                                                                                             risks, but I still apply the same set of skills
                                                                                                                                                                                                                                                                                                               CURRICULUM
                                                         inside the science labs at Louisiana State      time I walked in to the time I left,” says       opening of Vertex’s first ex-U.S. offices,        has continued to develop Kalydeco since its      I learned at Tepper to develop solutions to       GAVE ME
                                                         University, where his parents conducted
                                                         research as chemistry and botany
                                                                                                         Sachdev. “Problem solving, data analysis,
                                                                                                         and assessing and managing risk are what
                                                                                                                                                          including its commercial operations, sales,
                                                                                                                                                          and marketing, in Canada.
                                                                                                                                                                                                            2012 introduction to bring it to more eligible
                                                                                                                                                                                                            patients around the globe, including its
                                                                                                                                                                                                                                                             those problems.”
                                                                                                                                                                                                                                                                                                               SKILLS AND
                                                         professors. His genetic predisposition to       I most took away from Tepper, and what I                                                           2020 approval to treat babies as young as 4      And while Sachdev is working on bringing          CAPABILITIES
                                                         scientific curiosity met a love of computers,
                                                         which he nurtured in his teens when he
                                                                                                         come back to every time.”                        But as Incivek advanced through clinical
                                                                                                                                                          trials and awareness of hepatitis C
                                                                                                                                                                                                            months old. Today, Vertex has four approved
                                                                                                                                                                                                            medicines that have the potential to treat
                                                                                                                                                                                                                                                             those medical therapies to the greater
                                                                                                                                                                                                                                                             population, he’s also working hard on
                                                                                                                                                                                                                                                                                                               THAT I’VE
                                                         began programming in Basic, Cobalt,             A BLOSSOMING IN BIOTECH                          increased, so did the pressure on Vertex.         up to 90 percent of CF patients in the future.   bringing a special segment of the population      APPLIED
                                                         and Fortran.                                    By 2004, a D.C. colleague called to gauge
                                                                                                         his interest in joining BIO, the life sciences
                                                                                                                                                          “Leading up to Incivek’s approval, we had
                                                                                                                                                          raised $4.5 billion in public markets without
                                                                                                                                                                                                            “We’re not done; there’s still 10 percent
                                                                                                                                                                                                            of patients that probably need some sort
                                                                                                                                                                                                                                                             to Vertex: Tepper alumni. “We have as much
                                                                                                                                                                                                                                                             need, want, and capability in innovative life
                                                                                                                                                                                                                                                                                                               THROUGHOUT
                                                         Drawn to Carnegie Mellon for its prowess        trade association that represents large          generating a return for our shareholders.         of gene therapy or cell therapy that we’re       sciences as the Silicon Valley companies or       MY WHOLE
                                                         in technology, he had two predominant
                                                         career goals in mind as he chose his major:
                                                                                                         companies like Celgene ($15B) and smaller
                                                                                                         venture-backed, innovative biotech
                                                                                                                                                          It took us four years of working with the
                                                                                                                                                          government, philanthropy, foundation, and
                                                                                                                                                                                                            working on,” cautions Sachdev. “But we feel
                                                                                                                                                                                                            good about what we’ve done.”
                                                                                                                                                                                                                                                             Wall Street banks for those with analytical
                                                                                                                                                                                                                                                             capabilities, data scientists, and the other
                                                                                                                                                                                                                                                                                                               CAREER.
                                                         purposeful work and entrepreneurship.           companies. “I wanted to experience the           peer companies to set up a framework to                                                            skills that make Tepper graduates so special.”
                                                         He decided to major in business: “Tepper’s      private sector. I had done almost a decade       enable the funding for treatment.”                A DEEP COMMITMENT TO ITS PATIENTS
                                                         curriculum gave me skills and capabilities      in public service, which I found really                                                            But Vertex’s and its Chief Patient Officer’s     To that end, he’s worked closely with Tepper
                                                         that I’ve applied throughout my whole           meaningful, but I didn’t know which part to      After 15 years of development, Incivek hit        missions have always been about more             faculty and staff, including former Dean
                                                         career,” says Sachdev.                          enter — hospitals, insurance, innovation. I      the market in 2011, and by 2012, for the          than just treating the disease: “We’re deeply    Robert Dammon, to design and develop a
                                                                                                         thought going to BIO would give me a             first time in its 23-year history, Vertex         committed to the patients we serve, and our      new MBA Health Care track in data analytics
                                                         After graduating, he became an investment       taste of that.”                                  was profitable. “It was the fastest drug in       responsibility goes beyond medicine. We          that will include artificial intelligence for
                                                         advisor for a large Wall Street brokerage                                                        the industry to reach a billion dollars in        spend a lot of time thinking about what kind     life sciences.
                                                         house. It was short-lived: “I realized pretty   At BIO, Sachdev met Joshua Boger, a doctor       revenue,” says Sachdev.                           of outcomes patients have in terms of quality
                                                         quickly I wanted to do something that I felt    of organic chemistry who founded Vertex                                                            of life and how we can engage with them to       The partnership between the Tepper School
                                                         more purposeful about — something less          in 1989 to pioneer work in structure-based       It didn’t last. “It was also the fastest drug     ensure we’re meeting their needs to make         of Business Health Care Initiative and Vertex
                                                         about investing and more about public           drug design to treat serious diseases. By        off the market. Within two years, it was          sure their voice is heard.”                      will create an MBA curriculum for health care
                                                         policy and helping in other ways.”              2007, nearly twenty years into its existence,    replaced by a competitive product. After                                                           analytics and support the related research of
                                                                                                         the company had no commercial wing and           Vertex went through a major investment            That work also includes philanthropy —           the faculty and doctoral students.
                                                         He pivoted from business to Emory               no profit. It had devoted all of its resources   over many years to be the pioneer in              Sachdev oversees The Vertex Foundation
                                                         University’s law school and soon landed an      to its founding mission. But it was on the       hepatitis C treatment — to not win in the         — to running programs that help patients         “Our vision is to offer a comprehensive
                                                         internship at the Department of Justice in      verge of making history.                         strategy game of making sure you didn’t           connect directly with the company. “We have      deep dive into the study of health care
                                                         Environmental Litigation and Defense. He                                                         just have the first treatment, but also the       patients who show up on their vacations          analytics,” says Soo-Haeng Cho, Professor
                                                         eventually found his way to writing laws,       Its antiviral treatment for hepatitis C, a       best ... was tough.”                              and want to come meet our scientists,” so        of Operations Management and Strategy
                                                         running hearings, and negotiating bills in      disease that killed more U.S. citizens in                                                          Sachdev built a program that allows patients     at Tepper. The curriculum will draw from
                                                         cybersecurity and critical infrastructure       2007 than HIV, was in clinical trials. Using     THE VERTEX VORTEX                                 to tour Vertex’s Boston labs, not unlike how     Tepper School’s health care analytics courses
                                                         as Senior Counsel for a senior                  a technique called protease-inhibition,          “We had to pivot to a different disease           Sachdev himself toured his parents’ labs         and related courses in health care policies
                                                         congressional committee.                        Vertex’s treatment, called Incivek, showed       area. We had cystic fibrosis in mind, but the     when he was a child.                             and AI applications to health care from the
                                                                                                         promise to stop the replication of the virus     research was in an earlier stage, so we had                                                        Heinz School and the School of Computer
                                                         Law school helped him get to Capitol Hill,      that caused the disease. “If we succeeded, it    to figure out how to stay alive through the       Sachdev says he’s gained an extended family      Science. Touching on everything from
                                                         but Sachdev says the business negotiation       would essentially be a cure. You would treat     ‘divot’ period.”                                  in the CF community. “When you have a rare       hospital management, insurance policies,
                                                         skills he learned in his undergraduate          each patient once, and you would move                                                              disease, it’s a very small number of people,     and patient records to medicine, diagnoses,
Tepper School of Business | Carnegie Mellon University

                                                         Mergers and Acquisitions class helped           on,” says Sachdev.                               While rare — only around 35,000 Americans         unlike the larger systemic diseases that         and treatment, the track will culminate in
                                                         him excel there: “I learned how to work                                                          are affected — cystic fibrosis is brutal to       affect large swaths of the population. I know    a capstone project course that exposes
                                                         with other people and how to negotiate.         But bringing that dream to fruition would        those it afflicts: The life-threatening genetic   them by name, know their family members,         students to a real business problem in the
                                                         Whether I was negotiating legislation in        require help from someone with vast              disease causes persistent lung infections         know their communities ... that’s a privilege    health care and life science industry. “The
                                                         a bipartisan way or in a business               experience in multiple sectors, including        and limits the ability to breathe over time.      that we have doing this work.”                   potential is limitless,” says Professor Cho.
                                                         negotiation — the skills I learned at Tepper    business, government, and policy —               Vertex’s personalized treatment, known as
                                                         really applied forward in my career.”           someone like Sachdev. The opportunity to         Kalydeco, was the first medicine to treat the     On the horizon, Vertex has therapies in          While the program is currently in
                                                                                                         simultaneously do good and help shape a          underlying cause of the disease.                  various stages of research and development,      development — like a cutting-edge
                                                         Before long, he became Deputy                   company was the perfect marriage of the                                                            including potential treatments for Type 1        personalized medicine in a clinical trial —
                                                         Commissioner of the Food and Drug               career goals that pushed him to study            Kalydeco exceeded expectations in its             diabetes, beta thalassemia, and sickle cell      the fall 2020 semester featured the first-
                                                         Administration (FDA), which oversees            at Tepper.                                       clinical trials. “We were surprised. Not          disease. Issues are sure to arise as they work   ever Health Care concentration to build up

                                                                                                                                                                                                                                                                                                                              cmu.edu/tepper
                                                         nearly 25 percent of the U.S. consumer                                                           only could you get a modification in the          to introduce them to the world, but Sachdev      momentum and excitement for the track.
                                                         economy. The breadth and diversity of his       Sachdev came on as Vertex’s SVP of               slope of the decline in lung function,”           says his journey has equipped him to tackle      “There’s no reason we shouldn’t connect
                                                         workload from implementing key elements         Corporate Affairs and Public Policy. He          recalls Sachdev, “we also began to see            any hiccups: “My career path — and it was        these dots and help recruit more Tepper
                                                         of the Medicare Modernization Act to            led its market shaping, including raising        improvement in lung function as well.”            definitely a winding road, just gave me          graduates to life sciences,” says Sachdev. ―
                                                         ensuring the efficacy and safety of HIV         awareness of hepatitis C and increasing the
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