Stéphane Garelli is Professor of World Competitiveness at IMD and Professor at the University of Lausanne. He founded the IMD World Competitiveness Centre and pioneered related research for 30 years. Professor Garelli is closely connected to the world of business. He is, among others, Chairman of the Board of Directors of „Le Temps”. He was formerly Chairman of the Board of the Sandoz Financial and Banking Holding, and member of the board of the Banque Edouard Constant. Professor Garelli was the Managing Director of the World Economic Forum and of the Davos Symposium for many years. For twelve years he was also permanent senior adviser to the European management of Hewlett-Packard.