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International Institute for Management Development The International Institute for Management Development, or IMD, is one of the largest business schools in the world, its campus is located in the city of Lausanne on Lake Geneva in Switzerland. IMD was founded in 1990 from the merger of two independent executive education centers created by Alcan and Nestl : IMI Geneva (1946) and IMEDE Lausanne (1957), respectively. national magazine exchange The school has close links to a wide range of European companies, serving as a meeting place for executives from around the world. IMD has been organized as a business school for the sole purpose of providing executive education, is not part of a university and no academic departments, only an integrated multidisciplinary faculty. Unlike the usual practice in universities in the IMD teachers are not appointed for life, but work on forward contracts and a pay package according to their performance (opinion of the executives who took the courses). Citation needed The faculty is composed of 600 full-time members, who come from 22 countries, and have a large and diverse pool of experience and while some come from other academics have a rich curriculum and working in the industry companies. The current president, Peter Lorange, took over in 1993 and will retire in 2008. IMD attaches great importance to the development and improvement of general management skills and management. In the IMD experienced candidates are selected for both the MBA (mean age 31 years) and the EMBA (average age 39 years). Another aspect that is emphasized is to build a broad international group of participants, where prime is not any particular nationality. Each year, some 8,000 executives, representing over 98 nationalities, attend the many programs offered and develop in the IMD.