John Thain and Jean-François Théodore of NYSE Euronext Honoured for Global Business Excellence
INSEAD, the leading international business school, today announced it has presented its first annual Award for Transcultural Leadership to John A. Thain and Jean-François Théodore, Chief Executive Officer and Deputy Chief Officer, respectively, of NYSE Euronext. INSEAD established the award to honour those who combine traditional business leadership with a unique understanding of other cultures to forge strategic growth for their organisations. Mr. Thain and Mr. Théodore were selected as the recipients for their twin-pillared leadership approach in the creation of the first truly global financial marketplace. “In order to successfully do business globally, companies need to recognise the growing need for transcultural leaders,” said J. Frank Brown, Dean of INSEAD. “It is essential for leaders in business and beyond to approach international ventures with a more worldly mindset. The transcultural leader will use all of the tools of traditional business and merge them with sensitivity to cultural differences.”
Mr. Brown added, “We are proud to present the award to John Thain and Jean-François Théodore as they both truly embody the characteristics of transcultural leaders. At the helm of two formerly separate companies, they have been able to bridge the transatlantic divide to create the world’s largest and most liquid stock-market platform.”
As companies expand globally, there is a greater need for leaders who have the experience and the mindset to work in and across different cultures. NYSE Euronext is an example of one such company that has formed as a result of the globally minded leadership of John Thain and Jean-François Théodore. The exchange now spans different time zones and currencies, opening the way for other organisations to gain international visibility as capital markets around the world consolidate.
“Over the years, INSEAD has effectively advanced transcultural leadership and understanding, which is essential for success in today’s global environment,” said John Thain, Chief Executive Officer, NYSE Euronext. “To be recognised by INSEAD with my colleague Jean-François Theodore is a special honour and reflects well upon our organisation and on the successful completion of our merger, which created the first truly global exchange group. Our goal at NYSE Euronext is to build upon this success to become a model of transcultural leadership on a global scale.”
“Together with John Thain, I am very honoured to receive INSEAD’s Award for Transcultural Leadership in regards to the creation of NYSE Euronext, which builds a bridge between the US and Europe to create the first exchange group in the world,” said Jean-François Théodore, Deputy Chief Executive Officer of NYSE Euronext. “Our aim is to extend on an international scale what has always guided our belief at Euronext: the need to make the most of local expertise and resources a condition for successful integration in a fast evolving global marketplace.”
Transcultural leadership is at the core of INSEAD’s mission as a leading international business school. With more than 70 nationalities represented in INSEAD’s MBA program and no single one representing more than 12 percent of the class, INSEAD students are able to engage with faculty and fellow participants in an atmosphere of real cultural interchange. Each year, a new class emerges from their studies with a unique, global perspective that combines the most sophisticated business knowledge with cultural sensitivity and awareness.
“A new era of leadership has become the centerpiece of global business. Transcultural leaders will usher their companies into new markets, drive growth and social responsibility, and perhaps most important, set the stage for future success,” said Brown.
INSEAD presented the Transcultural Leadership Award during a gala dinner on April 24 in New York City. The evening was hosted by INSEAD and moderated by Rick Smith, Chairman and Editor-in-Chief of Newsweek. The main sponsors of the Award included:
• GE Commercial Finance; • Power Corporation of Canada; • PricewaterhouseCoopers; • General Atlantic; • Société Générale; • Rothschild; • Zephyr; • Clayton, Dubilier & Rice; • Bloomberg; • NYSE Euronext; • Pfizer; • Morgan Stanley; • First Atlantic Capital; • JPMorgan; • Credit Suisse; • Deutsche Bank; • AGF; • Boston Consulting Group
About NYSE Euronext
NYSE Euronext, a holding company created by the combination of NYSE Group, Inc. and Euronext N.V., commenced trading on April 4, 2007. NYSE Euronext (NYSE/New York and Euronext/Paris: NYX) operates the world's largest and most liquid exchange group and offers the most diverse array of financial products and services. NYSE Euronext, which brings together six cash equities exchanges in five countries and six derivatives exchanges, is a world leader for listings, trading in cash equities, equity and interest rate derivatives, bonds and the distribution of market data. Representing a combined $28.5 trillion/EUR 21.5 trillion total market capitalization of listed companies and average daily trading value of approximately $118.8 billion/EUR 89.9 billion (as of February 28, 2007), NYSE Euronext seeks to provide the highest standards of market quality and integrity, innovative products and services to investors, issuers, and all users of its markets.
