DUBS Alumni News Magazine Issue 27 Spring 2015

Alumni Magazine for Durham University Business School Spring 2015 Issue 27

ALSO IN THIS ISSUE: GIVE YOUR CAREER A LEADING EDGE// DARK PERSONALITY IN THE WORKPLACE// FUNDING: MYTHS AND MAGIC

BETTER BUSINESS THINKING

GLOBAL CELEBRATIONS BEGIN

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CONTENTS Pg 12

DARK PERSONALITY IN THE WORKPLACE

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FUNDRAISING

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Dean’s welcome

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School and University News

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Alumni update

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Dean’s Award

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50th Anniversary Weekend

10 Funding the next 50 years’: Myths and Magic 12 Dark personality in the workplace 14 Introducing... Andrew Pendleton

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WINTER GRADUATION 2015

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DEAN’S WELCOME

16 Winter graduation 18 Sustainability and ethics – our approach 22 Give your career a leading edge 24 Stock market literacy, trust and participation 26 Q&A with alumna Anthea Morris 27 Book review 28 International Chapter News

30 Class notes

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CLASS NOTES

Front cover: Professor Robin Smith (left), first MBA director, with Professor John Machin, founder ALUMNI NEWS

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Dean’s Welcome

WELCOME TO THIS LANDMARK EDITION OF ALUMNI NEWS PROFESSOR ROB DIXON, DEAN

As many of you may already know, after many years as Dean of Durham University Business School I have decided to step down from the role in a year’s time. It was a difficult decision to make, but I feel that this, the School’s 50th anniversary year, is the right time for someone new to take the helm. I will continue as Professor of Accounting and look forward to many more years of contributing to the School’s and the University’s future success.

When it was created in 1965, the Business School was one of the first of its kind in the UK; now we are recognised with three internationally established quality assurances. With our dynamic portfolio of programmes and increased faculty numbers, we are keeping pace with the requirements of the global business world.

Rankings successes have been a feature of the past year, with good results for the School’s programmes in various Financial Times rankings. The online Global MBA ranked 1st in the world for ‘value for money’, 2nd for ‘salary’, 2nd for ‘career progress’, and 3rd for ‘international mobility’. The full-time MBA programme was ranked 10th overall in the UK and 23rd in Europe, and our Masters programmes – Management and Finance – achieved 7th and 6th respectively in the UK. Rankings such as these are of significant importance, and I would ALUMNI NEWS

“ T his is a landmark year in the history of Durham University Business School – it is the year we celebrate 50 years at the forefront of business education.”

Professor Rob Dixon, Dean

like to take this opportunity to thank everyone involved for their hard work, dedication and support.

The outcome of The Research Excellence Framework (REF) – the new system for assessing the quality of research in UK higher education institutions – also provided reason for celebration, with 79 per cent of our submitted research deemed to be of ‘internationally excellent’ or ‘world-leading’ quality. This reflects the international breadth and quality of our research, which in turn enhances our position as a vibrant, research-led business school.

In April, during a weekend of celebratory events, it was marvellous to be able to reconnect with and welcome back to Durham many of our alumni and former staff. One of the highlights was the presentation of the very first Dean’s Award. You can

read more about the award winner on page 7.

Also in this issue of your Alumni magazine you will find articles on some of the interesting and cutting-edge research of our faculty.

Topics such as ‘Dark personality in the workplace’ by Professor Birgit Schyns, and ‘Stock market literacy’ by Dr Dennis Phillip and Dr Anamaria Nicolae.

Finally, in this our anniversary year, I would like to take the opportunity to thank you all – alumni, students, staff and corporate partners – for your support, commitment and hard work.

Durham University Business School is a thriving, successful place because of you all – long may it continue.

Best wishes, Professor Rob Dixon, Dean

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SCHOOL AND UNIVERSITY NEWS

School

Dr Graham Dietz In December it was with deep regret that we announced the death of Dr Graham Dietz, Reader in HRM and Programme Director of the Masters in Management. A talented, energetic and well-respected member of the Business School, he was held in high regard by colleagues and students alike.

University

Durham University student one step closer to being one of the first humans on Mars Durham University astronomy PhD student, Hannah Earnshaw, is among the final 100 hopefuls for a one-way trip to Mars as part of the Mars One project. Hannah has been selected for the next round of the selection process which started with over 200,000 applicants. She will now participate in group challenges to test her response to stressful situations before finding out at the end of the year if she has made the list of 24 people chosen for the mission.

Mars One’s goal is to establish a permanent human settlement on the Red Planet by 2024; the next giant leap for humankind.

Graham’s primary research interest was trust at work, with a particular focus on how trust is built, enhanced and sustained among colleagues and between leaders and their followers. In addition to his publications record, Graham regularly provided media commentary on trust, as well as authoring highprofile practitioner reports on the subject for organisations such as the Institute for Business Ethics and CIPD.

University

Honorary degrees and the Archbishop of Canterbury Justin Welby, the Archbishop of Canterbury, who studied at Durham University and was formerly Bishop of Durham, received an honorary degree at the Winter Congregation ceremony in January. The award was made in recognition of his ministerial achievements and devotion to his parish communities. The previous Archbishop of Canterbury, Rowan Williams, also holds an honorary degree from Durham University.

University

Research Excellence Framework Durham University research was assessed as “world-leading” across the sciences, social sciences, and arts and humanities in a national exercise to determine the quality of research in UK universities.The Research Excellence Framework (REF 2014) measured the quality and impact of research submitted

by UK universities across all disciplines.

The University’s research breadth and power was demonstrated in a submission of more than three-quarters of staff from all three faculties across 22 Units of Assessment (subjects).

School

Ian McCafferty, Bank of England visit As part of its series of ‘Future Leaders Forum’ events, the Business School was proud to host Ian McCafferty of the Bank of England Monetary Policy Committee in March. Mr McCafferty, a Durham economics graduate, delivered a ‘Speech on Record’ where he shared his latest thinking on monetary policy with an audience of alumni, current students and corporate guests.

School

Financial Times MBA Quiz A team of current full-time MBA students enjoyed participating in the Financial Times MBA Quiz in February. The Durham team: William Camuso, Zuhair Imran, Adesuwa Isokpan, Andrew Garé, Edet Amana, Andre Yeung and Moses Wong, were up against MBA students from universities around the world in this annual competition which took place at the FT’s London headquarters.

The team acquitted themselves well; however the overall winners were Imperial College Business School. The event raised money for International Rescue Committee UK, an organisation that helps people whose lives and livelihoods are shattered by conflict and disaster to recover and gain control of their future.

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ALUMNI UPDATE

Regular readers of Alumni News will notice several changes since the last edition. Following on from the redesign of our website, we are carrying the changes through into a new look for the magazine.

You have probably also noticed that I am a new face who has arrived to support alumni while Alex is on maternity leave looking after baby Lottie. Alex is adjusting to motherhood with her usual style as you can see from the recent picture on this page.

Katharine Aspey has returned to her alma mater Northumbria University, to develop their links with alumni. We are therefore very pleased that Lindsay Young will be joining us in May as our new alumni coordinator.

Thank you so much for bearing with us through this upheaval. I am sorry for any disruption that this has created for you all, as we have sought to keep in touch. It is notable how supportive the Business School alumni have been. I am really enjoying getting to know you and learning about how your time at Durham has shaped your friendships and careers. It was inspiring to meet so many of you on 10 and 11 April in the first of many celebrations this year for alumni to mark 50 years since the Business School was founded.

Pictures from the weekend are on pages 8 and 9.

If you weren’t able to come to Durham, the Business School is also organising its regular D8 events, bringing the best of the School’s research and an opportunity to network with Durham graduates to our partners around the world. The first was in Cairo, with subsequent events in Shanghai, Lagos, New York and Frankfurt. As the details are announced they will appear on the events section of the Business School website.

Penny Hawley

These events go hand in hand with the great work done by our International Chapters to keep in touch with other Business School graduates. Thank you for sharing the photos of recent events that we have included on pages 28 and 29. Check the website for events near you and if there is nothing that suits and you want to get involved in organising something near to where you live or work, please let us know via business.alumni@durham.ac.uk

Lindsay Young

Penny Hawley Alumni Relations Manager

Alex McNinch ALUMNI NEWS

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DEAN’S AWARD

To mark the 50th anniversary of the Business School, we are delighted to announce that Sir George Russell is the recipient of the first ever Dean’s Award.

The Dean’s Award has been created to recognise the outstanding business achievements of a Durham alumnus who has supported the advancement of the Business School.

Sir George, who celebrates his 80th birthday this year, read Economics at King’s College, Durham (1954-58) and was involved in the first business courses that were the precursor to the establishment of Durham University Business School in 1965.

Bespoke glassware presented to Sir George

Sir George Russell (left), and Dean, Rob Dixon

Sir George has had (and continues to have) an illustrious career in industry, finance, and entertainment. He began as a graduate trainee at ICI, and rose through the ranks (via several years in Canada) to become CEO at Alcan in the North East. He has been Deputy Chairman of Channel 4, Chairman of Independent Television News, Chairman of the Independent Broadcasting Authority (later the Independent Television Commission), Deputy Chairman of Granada plc and Deputy Chairman of ITV plc. He continues to be one of the judges for the BAFTA awards and is director of Digital Theatre which films live theatre for schools and consumers.

of Camelot, he supported the School’s first Chair in Economics and Business Management. He continues to advise and support the School’s fundraising activities, most recently in establishing a Student Investment Club.

Among his many honours and accolades (which take up a whole page in Who’s Who and Debretts) are four honorary degrees – from Durham, Newcastle, Northumbria and Sunderland Universities. He is a Knight Bachelor and Commander of the British Empire (CBE).

On a recent visit to Durham, Sir George and his wife Lady Dorothy Russell, presented the Business School with a painting of St Cuthbert based on the Lindisfarne Gospels. The painting was commissioned by Sir George when he was head of Alcan. It symbolises global trade, learning and the Durham story.

Sir George gifted it to celebrate the opening of the new building at Mill Hill Lane – opening a new chapter in the School’s history as it looks forward to the next 50 years.

We congratulate Sir George on his 80th birthday and say thank you for his ongoing advice and support.

Sir George contributed significantly to the business economy of the North East, serving on many boards including the Northern Development Company and our own Business School Advisory Board. As Chairman ALUMNI NEWS

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Hiroshi Ochi and Smiti Kumar (Management, 1981)

Professor John Machin

Guests at Durham Castle

Doreen Weekes (MBA, 2013)

Vun Liew (MBA, 1996)

The class of 1988

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Professor John Machin, one of the founding members of Durham University Business School, was joined by students past and present on Saturday 11th April at Mill Hill Lane to begin celebrations for the 50th anniversary of the School.

Amy Lau (Management, 1981)

Graduates travelled from across the globe, including Nigeria, Barbados, Ghana and Canada to meet up with classmates, gain an insight into the School’s current research through masterclasses and take a tour of the refurbished building. A formal dinner in Durham Castle provided the perfect end to the weekend’s events.

“I had lost touch with most of my classmates, moved continents, but it is just a wonderful feeling to come back.

I wouldn’t have been in this industry if it wasn’t for Durham. I wouldn’t have done my thesis with Nike.

I wouldn’t have been exposed to the fashion and sporting wear business.

I never would have been doing what I am doing. I credit Durham for giving me that opportunity.”

Killick Datta (MSc Management Studies, 1982)

“It was a real pleasure to meet old classmates.”

Stephen Wilkins (MBA, 1996)

50TH ANNIVERSARY

In his address, current Dean Professor Rob Dixon paid tribute to the School’s four founders – Alan Odber, Charles Baker, John Constable and John Machin – who had the vision that created the institution that continues to prepare today’s students for tomorrow’s challenges. He thanked alumni for the continuing support they provide through mentoring, introductions and funding, and stressed that they play a crucial role in the ongoing development of the School.

Tony Brook (MBA, 1970) saw the chair he had funded through the Take Your Seat campaign. He reflected, “Durham has contributed a lot to me. It helped me to be able to focus on the things I really wanted and to be clear about what my objectives were and to work in the best way to achieve it.”

“Thought-provoking sessions and an excellent chance to get to know other alumni.”

Lorraine Ellison (MBA, 2011)

“What an amazing weekend! Between us, John Machin and I knew everyone from the intakes 1969 – 1990, though we had not seen many since their graduation. It was fascinating to catch up and find out how the time they spent at the Business School has shaped both their personal and professional lives. It is clear that being at DUBS was the seminal event in their development. We look forward to the 100th anniversary!”

Robin Smith (the first MBA Programme Director) If you could not attend the celebrations in Durham, there will be D8 events taking place in Cairo, Shanghai, Lagos, New York and Frankfurt (see www.dur. ac.uk/business/news-and-events for latest updates). We are also keen to support alumni in organising their own reunion event, simply contact business.alumni@druham.ac.uk

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Funding the next 50 years:

MYTHS AND MAGIC DR ANNE ALLEN DEVELOPMENT EXECUTIVE

I came to Durham University Business School just over a year ago to lead on fundraising. A long time back I was a Durham undergraduate and postgraduate and was lucky enough to be assisted through my studies through a combination of grants and scholarships. That was a generation ago; in the intervening period the financial landscape of higher education has changed completely.

I joined Durham in the last year in which UK students could still access a grant towards living costs from the local authority. Tuition fees had not been introduced and the majority of universities’ income came from the Higher Education Funding Council (HEFCE). Back then young people could expect to win a place and go to university on merit, regardless of their financial background.

Twenty years on and the first cohort of students who have paid £9000 per year in tuition, plus their living costs, are about to graduate. Of course let’s not forget that for international students the cost is even higher.

So where does all the money go and why does the Business School need to fundraise?

The fee income replaces the grant funding that was previously received from HEFCE. In real terms the University has less money to spend on teaching and accommodating more students. At the same time we also ALUMNI NEWS

need to invest a lot of money in capital redevelopment to provide the quality of facilities required to compete with universities globally, which fee-paying students rightly expect.

(ii) to build a permanent endowment fund through naming rights on the School, the buildings, lecture halls and seats – to sustain the Business School in perpetuity.

Durham University Business School does not have any large endowments.

It relies each year on income generated from tuition fees and research. Volatility in the higher education recruitment market that is often beyond our control (such as changes in visa regulations), means that demand fluctuates.

We are already making significant progress and this, our anniversary year, is a great opportunity to reach out to our alumni and partners across the world to spread this message.

Supporting Durham University Business School helps the whole University.

The Business School is set up to be a profit-generating cost centre within the University, to bring in more income than it receives back to deliver teaching. When successful, this means that the whole University benefits – the colleges, other departments, sport, and support services.

Philanthropic income supports extracurricular and student-led activities that help to make the ‘Durham Difference’.

This contributes to making Durham graduates more employable, more well-rounded individuals. We believe in developing the whole person not just imparting information.

My ambitions are twofold: (i) to secure the largest gift the Business School has ever had.

Please dig deep and help us achieve our goal of raising £500,000 in this milestone year.

Thank you to all our donors, mentors and alumni who are already giving back in cash or in kind, many through giving time and expertise to support the next generation of students at Durham University Business School. Your help is much appreciated.

How can you help?

We are contacting senior Durham alumni and corporate partners during our anniversary year to ask them to consider getting more involved in the advancement of the Business School – through giving in time or money.

That could mean mentoring a current student, speaking on a programme or making a financial contribution – a social investment – in the 50th Anniversary Fund.

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DR ANNE ALLEN There are different forms of giving: • Regular Giving (what we call our Annual Fund) – is a great way to give an amount of your choice regularly (eg by direct debit each month or annually).

• Take a Seat – we also encourage oneoff donations to support our ongoing capital programme, for example naming a seat in a lecture theatre (or indeed an entire lecture theatre!).

• Leadership Gifts – gifts of between £1,000 and £10,000 can provide an essential catalyst to get new projects off the ground. Donors and sponsors have a key account manager to support their ongoing relationship with the University.

• Major Gifts – gifts in excess of £10,000 are transformational.

These can facilitate new research, new scholarship opportunities and even new buildings. Donors and sponsors can get involved in shaping the project and are individually stewarded in their relationship with the University. Gifts at this level are significant tangible investments in the University’s future.

• Legacies - see page 15.

Supporting Durham University Business School helps the whole University.

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PROFESSOR BIRGIT SCHYNS

How do you spot a Narcissistic Leader?

And if you have one, is there anything you can do?

Or should you simply leave?

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Dark personality in the workplace:

CAN YOU HANDLE A POISONOUS LEADER? PROFESSOR BIRGIT SCHYNS Birgit Schyns is Professor in Organisational Behaviour at the Business School.

She has a PhD from the University of Leipzig in Germany.

Her research topics include leadership and career development.

She has published widely on topics including leadermember exchange, transformational leadership, implicit leadership theories, followers’ perception of leadership, as well as employability.

The article, written by Birgit, was previously published by CITY A.M.

L eadership advice often just focuses on the benefits of strong leadership – but what happens when you come face-to-face with a destructive ‘dark personality’ at work?

One way to describe a dark personality in a position of authority is a ‘Narcissistic Leader’. This person is often a toxic combination of charm and charisma – with an unhealthy disrespect for others. These leaders can wreak havoc in their organisations and for those who work for them.

As an individual working for a Narcissistic Leader, life can become miserable. They may encourage unethical behaviour, or they can diminish a staff member’s selfworth and skills by discounting their opinion. How do you spot a Narcissistic Leader? And if you have one, is there anything you can do? Or should you simply leave?

Find out what you are dealing with – Narcissistic Leaders will often take action without asking your opinion or seeking further guidance (because ultimately they do not value any opinion other than their own), and often display characteristics such as talking far more than they listen. These are traits that can be found in so-called normal people, so don’t jump to conclusions, but if you find your leader making important decisions in your remit without consulting you, be on alert.

Over time this might be the tell-tale sign which betrays your leader’s narcissistic tendencies.

Trust your moral compass – Narcissistic Leaders initially display very attractive characteristics: they can be charismatic and charming, and often show strong leadership qualities.

Their gravitas and power to persuade is why they interview well for leadership positions and ultimately results in employees following their lead through a false sense of confidence.

If you find your leader requiring you to do things you know to be unethical, stand back and question this. An unethical request is just that, even when it comes from a leader you might otherwise appreciate. Blindly following your superior’s unethical request does not guarantee your path to progression and will, more often than not, leave you facing blame.

Followership comes with responsibilities – Narcissistic Leaders might be good at initially charming followers (the people under their supervision).

A Narcissistic Leader can lead to a crisis situation for an organisation.

Decision makers in your organisation have to be made aware of the issue early on so they can take steps before things inevitably get worse (for example people start leaving, your leader cements their position or gains further power).

Get a new job. True Narcissistic Leaders are impossible to reason with because they inherently value their own opinion far above others.

If you have challenged their unethical decisions and decision makers in your organisation are unable to act against the individual, the ramifications of dealing with these types of leaders can badly impact your long-term employability due to the mental and emotional toll that is taken.

Dealing with someone who discounts your opinion constantly can hurt your self-esteem and make you less convinced of your ability in future job interviews. Get a new job. Quickly.

If you are the first to notice that your leader is influencing others to act unethically, and your attempts to directly challenge them have failed, seek confidential advice within your organisation (for example from a higher level manager or your HR department).

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Introducing…

ANDREW PENDLETON PROFESSOR OF HUMAN RESOURCE MANAGEMENT

What are you currently working on?

Since joining in early January I have been designing and teaching the Employee Relations module on the MSc Human Resource Management programme. I have been impressed by the enthusiasm and engagement of the students, many of whom are from outside the UK. My research currently involves constructing a comprehensive profile of employee-owned companies in the UK, with a view to identifying the contribution of the employee-owned sector to the UK economy.

I am also analysing a large-scale survey of participants in employee share option schemes to try to identify the key influences on key financial decisions made by individuals. I have just taken on the new role of International Champion for India. I will be working with our alumni network there developing our links with Indian business organisations and universities.

I hope to be visiting soon, and look forward to meeting with alumni.

What are the most challenging parts of your job?

It is always fun getting to know new colleagues and students, and working out how things ALUMNI NEWS

are done. I don’t think I have made any major mistakes yet but maybe my colleagues haven’t told me!

What do you want to achieve? Doing useful research has become steadily more important to me. Contributing to the design of new legislation for employee share plans was one of the most rewarding activities in my career.

I hope that my current research will influence government policy and company practice.

What drives you? Academic work is like juggling – you need to keep lots of balls in the air at once.

What was the best career advice you were given? Be yourself – don’t try to be something you are not.

What advice would you offer to someone thinking of an academic career? It is a great career and I don’t regret my time in academia one bit. But you have to be prepared to play a long game. If you like to score in the opening minute this is probably not the job for you.

Andrew joined the Business School at the beginning of the year, fresh from a similar post at the University of York Management School, where he was also Director of Research.

After graduating with a degree in Philosophy, Politics and Economics from Oxford University (“rather longer ago than I care to remember”, he comments), he worked for a Third World development charity. A PhD at Bath, on management strategy and technological change in British Rail, came next, followed by academic roles at Kent, Bath, Bradford, and Manchester Metropolitan Universities.

His main research interests are employee ownership and employee financial participation, as well as corporate ownership and governance. He was involved in the design of the legislation for the UK’s Share Incentive Plan and Enterprise Management Incentives in the Finance Act 2000.

Andrew is a faculty member of the Beyster Program (to develop young scholars of employee ownership) at Rutgers University, New Jersey, USA.

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WINTER GRADUATION 2015 ALUMNI NEWS

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Masters in Marketing Programme Awards: Addie Godfrey: Best Dissertation Joseph Ollier: Best Academic Performance Rui Jing: Best Business Project

This winter, the formal Congregation Ceremony at Durham Cathedral was officiated by Acting Vice-Chancellor, Professor Ray Hudson on Friday 9 January. Following the ceremony, the School hosted a celebratory drinks reception for more than 200 new Business School graduates and their families. Professor Geoff Moore, Deputy Dean, led the welcome and congratulations, before individual awards were presented by respective programme directors.

Masters in Management Programmes’ Awards: Anna Tropashko (MSc Entrepreneurship Management) - Best Academic Performance and Best Dissertation Faizan Khan (MSc Human Resources Management) - Best Academic Performance Jian Hu (MSc Management) Best Dissertation Lorenzo Percic (MSc Financial Management) - Best Dissertation Oleksandra Kazarian (MSc Management) - Best Academic Performance Xinwei Da (MSc Financial Management) - Best Academic Performance and Best Overall Academic Performance, MSc Management Programmes Yan Zhen (MSc International Business) - Best Academic Performance and Best Dissertation Ying Zeng (MSc Human Resources Management) - Best Dissertation and Best Dissertation Overall, MSc Management Programmes Masters in Finance Programmes’ Awards: Dennis Eggert (MSc Accounting & Finance) - Outstanding Academic Performance Haidong Cai (MSc Finance) Outstanding Academic Performance Kejian Wu (MSc International Banking & Finance) - Outstanding Academic Performance Luca Ceresoli (MSc Finance & Investment) - Outstanding Academic Performance and Best Overall Academic Performance MSc Finance Programmes

Mengshi Li (MSc Corporate & International Finance) - Outstanding Academic Performance Peter Grehl (MSc Finance) - Best Dissertation Overall in MSc Finance Programmes Yang Xu (MSc International Money, Finance & Investment) - Outstanding Academic Performance Masters in Islamic Finance Programmes’ Awards: Farah Mansor (MA Islamic Finance and Management) - Best Dissertation and Best Academic Performance and Best Overall Academic Performance in Islamic Finance programmes Izzati Abdul Rahman (MSc Islamic Finance) - Best Dissertation Nur Dehani Hendranastiti (MSc Islamic Finance) - Best Academic Performance and Best Overall Academic Performance Islamic Finance Programmes

Full-time MBA Awards: Larry McGuinness - Best Academic Performance and Best Business Project Donna Jones, Mansour Alqarawi & Varsha Dinodia - Students who contributed the most Global MBA (Finance) Awards: Travis Callaway (Global MBA Finance) Highest Average Mark Executive Masters’ Awards: John Oldham - Best MA programme Dissertation and Best MA Management Dissertation May Hamada - Best MA Marketing Dissertation PhD Awards: Anastasios Kagkadis - Best Thesis Christian Schaefer - DBA Best Thesis Rahmatallah Poudineh - Best Thesis

Masters in Economics Programme Awards: Aanchal Sandhu (MSc Public Economics) - Outstanding Academic Performance Jaiveer Gandhi (MSc Economics) – Joint Best Overall Academic Performance, MSc Economics Programmes Mario Schiavone (MSc Environmental & Natural Resource Economics) Outstanding Academic Performance Pratabjal Nilla-Or (MSc Economics & Finance) - Outstanding Academic Performance Reem Jodeh (MSc Economics) - Best Dissertation Overall in MSc Economics Programmes Vivek Chamling (MSc Experimental Economics) - Outstanding Academic Performance Yushen Yao (MSc Economics) - Joint Best Overall Academic Performance, MSc Economics Programmes

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PROFESSOR GEOFF MOORE

ALUMNI NEWS

As we try to find ways to reduce consumption and its environmental impact, it’s unsurprising that there are calls for investors to withdraw from fossil fuel extraction companies and talk of oil and gas companies being over-valued because we cannot afford (environmentally) to extract and use all their known reserves.

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Sustainability and Ethics:

OUR APPROACH

BY GEOFF MOORE, PROFESSOR OF BUSINESS ETHICS, DEPUTY DEAN (LEARNING AND TEACHING)

We are all aware that the ecological sustainability of the planet is a key issue for this and the next generation.

Trying to keep the earth’s surface temperature rise within the 2oC limit above pre-industrial levels determined as being ‘safe’, is a huge challenge.

Particularly since, despite improvements in technology that mean we now generate one unit of GDP at about 60% of the environmental impact that it would have had in the mid-1970s, the global rate at which we pump greenhouse gases into the atmosphere continues to rise.

As we try to find ways to reduce consumption and its environmental impact, it’s unsurprising that there are calls for investors to withdraw from fossil fuel extraction companies and talk of oil and gas companies being over-valued because we cannot afford (environmentally) to extract and use all their known reserves.

First, we recognised these major issues as we revised our Vision and Mission statement:

A recent report by the UK Government’s Natural Capital Committee notes that: “natural capital – the elements of the natural environment which provide valuable goods and service to people such as clean air, clean water, food and recreation – is in long-term decline”, and goes on to say that: “if economic growth is to be sustained, natural capital has to be safeguarded” (Natural Capital Committee, 2015).

Our mission in relation to our programmes is to deliver rigorous and relevant education which inspires our students and alumni to become architects of an equitable and sustainable world.

Aside from this major issue of environmental sustainability, which to a large extent has been caused by, as well as impacting on, business, ethical business issues abound. From the collapse of the Rana Plaza factory in Bangladesh to Apple’s tax avoidance, from Europe’s horse meat scandal to major protests against mining operations all over the world, business seems to be at the forefront of social and ethical challenges and criticism.

This is still work in progress, but we have already achieved the following:

So, what are we, Durham University Business School, doing about it?

Our vision is of a more equitable and sustainable world in which businesses and other organisations contribute to the flourishing of individuals and communities.

These are, as they should be, stretching and ambitious statements.

We knew that when we agreed them, and have continued to work on what they mean for us in practice.

• Joined the United Nations ‘Principles for Responsible Management Education’ (PRME). (Our first ‘Sharing Information on Progress’ report is available on the ‘Mission and Values’ page of our website).

• Formed a specific research group: ‘Ethics, Organisations and Society’, to give a focal point for the research that is already going on in this area.

(More information on the group is

available under the research section of our website).

• Commissioned an internal survey of all of our programmes to understand where these issues are already embedded in the curriculum and where we need to do more.

• During the redevelopment of the Mill Hill Lane site, we installed a ground source heat pump and PV solar panels which together are expected to generate 14% of the energy requirements of the site.

• Creation of a database of our environmental footprint with a view to continue managing down our carbon emissions.

Of course there is a lot more to do, but we are convinced that our contribution to environmental and social sustainability is most likely to come not from our own direct activities, important as they are, but from our ability to influence, through our research and education, policymakers and our students and alumni in making the world a more equitable and sustainable place.

If you think you can help us in any way as we strive towards these goals, we would be delighted to hear from you.

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CASE STUDY

How our graduates are putting knowledge into practice

CAPITALISING ON UK WOODLANDS,

BY MBA ALUMNUS STEPHEN PRIOR

I co-direct the business with James Hepburne Scott, who had originally suggested the research topic to the School and whom I first met during that research. Forest Carbon was established to utilise carbon funding from businesses acting on a voluntary basis to create woodlands in the UK.

Since 2006, Forest Carbon Limited has planted over 4 million trees in the UK – around 2,500 hectares – for social and environmental benefit. The company came about, in part, as a consequence of my Durham MBA – the research that underpinned its founding was completed during my business project.

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Initially, quality assurance of these projects was carried out under a ‘forest carbon standard’ that we designed ourselves, but along the way we were involved in successfully lobbying the Government to establish its own code of practice for carbon woodlands.

Hence the Woodland Carbon Code (WCC) was launched in 2011 and is now seen globally as a leading example of a domestic voluntary carbon standard. Forest Carbon remains a member of the WCC Advisory Board.

Carbon credits issued by the WCC are independently certified to ISO standards, listed on the world’s leading voluntary carbon registry, and are now accepted within Defra Environmental Reporting Guidelines for companies.

Investors in WCC woodlands can be sure that the right trees have been planted, in the right place; that the carbon capture estimates are project specific, scientifically sound and risk adjusted; that the woodlands are managed to a high standard and protected in the long term; and that the trees were ‘additional’, that is to

say that they would not have existed in the first place but for the intervention of the carbon credit buyer.

Organisations which have partnered with us to create new woodlands in the UK include ICAP, BWOC, Allstar, Nationwide Building Society, the UK’s own Green Investment Bank, sofa. com, Valassis and Marks & Spencer.

These companies became involved for a variety of corporate reasons but all share the understanding that woodlands are ‘good’ for Britain in many ways, for example as public recreational spaces, wildlife corridors, biodiversity enhancers, landscape improvers, flood reducers and pollution filters.

They were also helping acknowledge that woodlands make an important economic contribution through employment creation, and, in certain woodland projects, a sustainable timber supply. (The UK is the world’s thirdlargest timber importer.)

One of the valuable ecosystem services woodlands can help with is natural flood mitigation. Given the fact that our climate is already irreversibly on course to change, this will become increasingly important. The UK Climate Change Risk Assessment has projected that, without intervention, flooding could cost the UK economy £12bn per annum by 2080.

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Forest Carbon has been involved in several riparian (riverbank) planting projects designed to provide downstream flood mitigation, including five woodlands in the River Tweed’s catchment which were planted in direct response to catastrophic local flooding in 2008 and 2009. Riparian woodlands reduce peak flow in rivers by trapping water in soil, slowing surface run-off and reducing silting; they are more cost-effective than downstream flood defences. Such woodlands also have benefits for water quality – reducing pollution run-off – and improving conditions for aquatic life.

‘Natural Capital’ is the understanding that the natural environment is a critical part of the economy, rather than an adjunct, and as such the way we treat it will have future economic consequences. The natural environment should, therefore, be included in business thinking and strategy every bit as much as financial or human resource planning. Not only has Forest Carbon’s innovation and leadership led to the creation of the UK’s first natural capital services market, but along the way a start has been made on the landscape restoration that can make the country more resilient in the face of climate change. This is all due, in part, to a Durham MBA programme.

The UK’s Natural Capital Committee, set up in response to the 2011 Natural Environment White Paper, was an innovative attempt by government to value the contribution nature makes to our society through the ecosystem services it provides us with.

In acknowledging that the state of our natural environment may ultimately affect us all economically, the Committee was to report directly to the Treasury. The Committee’s final report included a recommendation for the creation of up to 250,000 hectares of new woodlands in England alone – with the expectation that they could generate up to £500 million per annum of net societal benefits.

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THE LEADING EDGE PROGRAMME

GIVE YOUR CAREER A LEADING EDGE

The Durham University Business School careers service – Leading Edge – has recently been enhanced so that postgraduate alumni can continue to access its advice and resources throughout their careers.

Your alumni network website hosts a range of resources to help you progress and advance along your career pathway. These include: • Webinars covering a number of topical career issues and challenges.

In these recordings career experts Simon North and Nisa Chitakasem share their experiences, practical tips, advice and insight. Recent recordings, which are available online, include ‘making a career change’, ‘managing your career in mid-life’ and ‘negotiating a pay rise’.

• International Jobs Board with a live update of opportunities across 52 countries suitable for Business School postgraduates.

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YOUR PATHWAY TO EMPLOYABILITY • Videos, E-Learning modules, Company Databases and Selection Process Simulators showing you how to make the most of every stage of the job hunt.

• Workmaze Masters and MBA Recruitment Guides providing up-to-date company contact information, names of the key recruitment contacts, details of recruitment programmes, competitions and internships, deadlines and details of international recruitment opportunities for those companies recruiting advanced degree graduates.

•C areer Insider from Vault with over 200 guidebooks covering a multitude of workplace topics, thousands of company and university profiles, data on occupations and industries, blogs and research tools.

•1 0 Minutes With… an educational website with insight into the true nature of different jobs to help you identify the career path that most suits you.

•S kills Index featuring a wide range of quick, practical, learning and business tools intended to boost your effectiveness and capability.

It includes sections on change, working effectively across cultures and personal effectiveness.

All these resources, and more, are available by logging on to: www.dunelm. org.uk/dubs/careers-gateway If you don’t yet have a username and password, you can register via the box at the top right of the website.

Additional support for postgraduate alumni includes up to two one-to-one consultations per year with the School’s career development team, which can be used for guidance on taking the next steps in your career, enhancing your cv and covering letter, or help with preparing for interviews. Consultations can be arranged by emailing the team at business.careers@durham.ac.uk.

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Philine Gräfin von Hardenberg (MSc Management, 2014) secured a role with Burson Marsteller in Frankfurt as a result of the support that she received from the career development team.“The advice I received helped me to hone my cv and prepare for the interviews so that I could face them with confidence. I really felt that the team cared about my future.”

Mansour Alqarawi (MBA, 2014) secured a position with EY with the help of the careers service and the business development team.

He comments: “I was impressed by the range of resources Leading Edge could draw on to support my career search and the personal support I received from my career consultant so that I could target the right professional services firms.”

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STOCK MARKET LITERACY, TRUST AND PARTICIPATION

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Why do some households invest in stocks and shares while others do not?

The Business School’s research is internationally renowned, both for its academic rigour and the benefits it brings to society as a whole.

Here we present a brief overview of a piece of recent research by faculty members Dr Anamaria Nicolae, Dr Dennis Philip and PhD student Adnan Balloch.

There are many more examples of our research to explore on the Business School website – www.dur.ac.uk/ business/research

Why do some households invest in stocks and shares while others do not? There are several possible theories explaining the non-articipation puzzle, and the existing literature on the subject has identified a number of potential influencing factors – including levels of optimism, the IQ of the investors (or non-investors), their political leanings and level of education.

Some of the most significant features associated with stock market participation are: levels of sociability of the investors (in other words, the extent to which they exchange information); stock market literacy (that is, an understanding of how the market works); and levels of trust in the stock market. Recent research suggests that households with a lower level of market literacy are less likely to be investors in stocks and shares. At the same time, households with a higher level of trust are more likely to participate in share ownership. However, the degree of importance of each factor and the mechanism through which these factors influence stock ownership decisions remain unclear.

Understanding the influencing factors of stock market participation.

Immeasurable factors (such as future expectations, self-confidence, sense of commitment and time preference) and their influence on stock ownership decisions are difficult to evaluate, but,

amalgamating consumer information from a large number of US household surveys, the Durham University Business School team have been able to identify and quantify several determining factors of economic behaviour.

The dataset has allowed the researchers to look in detail at the influence of key psychological and behavioural factors on stock market activity.

The researchers have constructed a theoretical framework whereby market literacy reduces a household’s cost barriers, thereby encouraging participation in stocks and shares.

Further, it is argued that sociability operates as a proxy for market literacy through easy (and cheap) information sharing, and what matters is market literacy (learning) rather than merely being sociable.

Key influences on stock market participation.

The results showed that stock market literacy was the dominant variable in investment, even when compared with the many other influencing factors.

Although sociability was important, it was less so after accounting for market literacy; households with high levels of market literacy were more likely to invest even when sociability was low, and levels of participation were lower in households with high sociability but low market literacy.

The influence of trust also proved to be significant, with the results showing that the higher the levels of trust, the greater the likelihood of investment.

Even here, however, the influence of market literacy proved key, with the more market-literate households investing a higher proportion of wealth in stocks and shares.

Whilst psychological and behavioural factors, such as past economic shocks and future expectations, explain a household’s decision to invest in stocks, conditional on participation, a larger set of factors (past economic shocks, future expectations, self-confidence and time preference) explain a household’s decision as to how much to invest in stocks.

The study’s conclusions, while not aimed at providing a causal link, are nevertheless informative in terms of policy. By identifying the key factors influencing stock market participation, they provide direction for those keen to increase it – most notably, that the focus of future action should be on increasing market literacy and trust.

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Alumni Q&A

ANTHEA MORRIS MA IN MANAGEMENT, 2006

Anthea Morris

What is your current role?

I am Finance Director and a shareholder of Better2Know – the UKs largest private provider of sexual health testing services.

We are currently expanding in Europe, Africa and the Middle East. I am also a member of the governing body of NHS Doncaster Clinical Commissioning Group and a member of the Audit Committee of South Yorkshire’s Police and Crime Commissioner and Chief Constable.

What would you say has been the most satisfying aspect of your career so far?

Running my own business, alongside my business partner, has been very fulfilling. It has made me a more rounded business person. It has enabled me to deal with some of the frustrations of my other roles, for example slow decision making, and the time taken to implement improvements. It’s given me a much clearer view of how our patients Anthea at Nyangao feel about our service, how we can Hospital, Lindi, Tanzania improve and how we can share what works well. Now I see how happy we make our patients with our fast, personal, results service.

What would you describe as your main strengths and how have these led you to where you are today?

My analytical skills and independence.

I can read numbers quickly, whether it is financial information, satisfaction rates, or patient demographics. I am very good at working on my own, taking responsibility for my decisions, and driving tasks through to completion.

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Business School alumna Anthea Morris (MA in Management) talks about her career post-Durham. Anthea studied via distance learning, finishing her degree in 2006.

What are your fondest memories of your time in Durham?

Even though I was living in Newcastle, I decided to study by distance learning and liked coming to Durham to attend some seminars and take exams.

Since graduating, I have returned to talk to prospective students who were considering the programme. I found that very enjoyable, it was good to be able to help them think about what they could learn and how it could shape their career.

Do you feel that your Durham degree and connections have helped your career?

Certainly! Having a master’s degree from Durham did, without a doubt, help me to get my first finance director role. During the interview, the Chairman was impressed that I had a Durham master’s degree – it set me apart from other candidates. In the competitive world of qualified accountants, that was important. I got the position because of my track record, academic pedigree and direction of travel of my career.

What is the most exciting thing you have done since graduating?

In 2011, I spent six months in Tanzania as a Strategic Management Consultant for a hospital in the Lindi Region. Lindi is in the south of the country, and one of the more deprived regions, it doesn’t attract tourist money like the game park regions of the north. Helping the hospital understand what risk factors they faced was important; they had a good reputation (therefore patients came

from far away for treatment), a shortage of funding, issues with grants being changed by local government after the year end, as well as differences in staff motivation factors. I think Herzberg’s hygiene factors need a bit of tweaking for Africa!

My job was to facilitate the management team in developing their strategy and team roles. I then worked to help them understand resource limitations, strategic planning, and the influence they could have on government officials if they worked together.

If you were to offer some advice to current students, what would it be?

Networks will be important in your future. Take the opportunity to learn about the people on your course. They will be a great source of knowledge, contacts and opportunities in the future, in ways you cannot imagine now. When I did my degree LinkedIn wasn’t the force it is now, but nothing replaces face-to-face time (even if it is only at distance learning seminars).

What about your plans for the future?

Growing Better2Know! We now have a firm base for international growth in the next few years. We’re looking at new ways of delivering our services to make testing as easy as possible. We want Better2Know to be the brand you think of whenever you think of sexual health.

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BOOK REVIEW

BY DR BRAD ATKINSON DUBS alumnus, Dr Brad Atkinson (DBA, 2006), gives his verdict on this book written by fellow alumnus Dr Graham Kenny (MSc Management, 1971).

I was already familiar with Graham’s work, both in the Harvard Business Review and having reviewed his previous book: ‘Diversification Strategy: How to grow a business by diversifying successfully’, for an issue of Alumni News back in 2013. In that review I recall I wrote:

“ Diversification Strategy is a good read…it is also a pragmatic book that is written in a style that sounds more like the voice of a trusted advisor than an academic researcher…Kenny provides insight related to the internal dynamics of organizational governance found in firms that have demonstrated excellence in managing diverse business units. In writing this book, Graham Kenny has made the process of navigating the transformational paths necessary to implement effective corporate and business unit strategy easier for those readers who are willing to take the first steps of that journey with him.”

It was with this background that I was curious to see whether his skills of weaving a good narrative while conveying high-level strategic insights would convey at the operational level of performance measurement.

In a very short Part 1, he provides a concise and understandable performance management framework

Strategic Performance Measurement: Boost your organisation’s performance –by measuring it.

BY GRAHAM KENNY

as a set of design principles. Part 2 provides methods and procedures to construct an approach for your organisation that is aligned with mission goals, satisfies stakeholders and yields meaningful scorecards.

Whilst Part 3 provides a short section of lessons learned in the application and use of performance measurement in the organisation.

Again, I congratulate Dr Kenny because this work contains widely accessible and useful material that should be in the toolkit of anyone associated with corporate strategy, business unit management or operations. The narrative is developed in a way that sounds like it was honed over the years spent running corporate consulting workshops – the language is tight, the diagrams useful, and the application relevant.

The field of strategic performance measurement has several pitfalls to navigate in effectively informing organisational performance. Often the act of measurement alone changes the characteristics of the organisation we are attempting to influence; we can see this in how the field grapples with the art and science of measurement. Whether in the 14 principles of Edwards Deming, where he was concerned that measurement will incentivise managers to achieve objectives by any means, even at the risk of quality; Peter Drucker’s management by objectives thesis; or the often cited but

rarely properly credited caveat: ‘What gets measured gets done.’

In my professional experience there are two layers of difficulty: firstly forming objectives that are conducive to quantitative measurement that will not distort strategic intent nor create unintended consequences; and secondly, developing measures that are understandable by both leadership and operators that are unambiguous and actionable.

What Dr Kenny provides is a well-written and annotated text that resonates with the voice of a trusted advisor in providing a programmatic framework to design, develop and implement a performance measurement environment in any organisation. While no approach is perfect, my own research at Durham found that all else equal, it is down to the culture of the organisation to converge on actions that reflect ‘solid citizen behaviour’ for performance measurements efforts to succeed in generating leading edge performance.

Kenny provides a useable framework supported by appropriate and sufficient insights to mitigate the possible strategic distortions and measurement confusion that I often find in even the best intended measurement frameworks. I would highly recommend Graham Kenny’s ‘Strategic Performance Measurement’ to anyone concerned with improving organisational accountability, transparency and performance.

‘Strategic Performance Measurement: Boost your organization’s performance - by measuring it’ can be purchased from the Strategic Factors website at www. strategicfactors.com ALUMNI NEWS

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SHANGHAI

INTERNATIONAL CHAPTER NEWS

SOUTHERN UK 28

BEIJING

MUNICH

NIGERIA

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If you are interested in joining these or any other groups throughout the world – in your location or perhaps in an area you frequent on business – please email us and we will put you in touch with an International Chapter Leader. Alternatively, if there is not yet a Chapter in your area, contact the Alumni Relations Team and we can investigate setting one up.

We look forward to hearing about your events and receiving photographs. If you require any help in arranging a get-together please do get in touch.

Los Angeles: The Los Angeles International Chapter held a get-together brunch in the peaceful setting of the Sportsmen’s Lodge, Studio City, Los Angeles on Sunday 14 September. Attendees enjoyed an afternoon of informal drinks and a perfect opportunity to network with fellow alumni, whilst catching up on Business School news. Also present were a number of Business School and Durham University staff, including DUBS’s Development Executive, Dr Anne Allen, and the University’s Head of Major Gifts, Andy Harston.

Southern UK: In October, the Southern UK International Chapter held an event in central London in honour of the outgoing 2013/14 cohort of Business School postgraduate students. It provided a great opportunity for outgoing students to network and share news from the Business School with alumni in the region. To find out more please contact International Chapter Leaders Ugo Isiadinso – ugo. isiadinso@bargateadvisory.com, or YingYing Fu – amber.fyy@gmail.com.

Beijing: Building on the success of previous alumni careers events in China, the School’s Leading Edge team hosted an interactive workshop in October, which included an expert alumni career panel discussing the topic of ‘Taking Control of Your Career’. A mix of both Durham University and Business School alumni and current students attended.

Feedback was excellent, with many attendees commenting on how much they learned from the event, and what a great opportunity it provided them to re-connect to the alumni network and the School.

Shanghai: The second DUBS alumni careers event in Shanghai took place on Saturday 18 October, again drawing a large attendance of more than 140 Business School and Durham University alumni and students. The workshop featured recruitment stands for blue chip organisations including Unilever, Bosch, Nielsen, Walt Disney, EY, Hilton Hotels, Hays, and Morgan McKinley.

Frankfurt: The Frankfurt International Chapter met in November at The Depot 1899 bar in the Sachsenhausen area of the city (part of their regular monthly get-together events). The group enjoyed reminiscing about their time at Durham and sharing the latest news.

The following month (December), the group also held a Christmas-themed gathering when they took in the sights and sounds of the Frankfurt traditional Christmas Market. To find out more about the Frankfurt alumni group please contact International Chapter Leaders, Frank Wege – fwege74@gmail.com or Christoph Maixner – christoph@ maixner.de.

Mumbai: Alumni of the Mumbai International Chapter gathered for brunch at the Colaba Social on Sunday 16 November, enjoying the opportunity to network and exchange news. To find out more about the group please contact the International Chapter Leader, Rohini Gautam Goradia – rohinigoradia@gmail. com.

Munich: On Thursday 20 November the Munich Local Association held a get-together at Die Goldene Bar. The group enjoyed informal drinks in a cosy setting, whilst they chatted and shared tales of their time at Durham. To find out more about the Munich International Chapter group please contact Patrick Schindzielorz – p.schindzielorz@googlemail.com.

Nigeria: The Nigerian International Chapter held a get-together in December at the Jade Palace Restaurant. The event was hosted by Business School faculty member, Dr Emmanuel Adegebite and attracted alumni and Global Learning students. To find out about future events contact their Chapter Leader Ayo Teriba – ayo.teriba@econassociates.com.

International Chapters are the perfect way to keep in touch with other Durham University Business School alumni in your area.

The next global get-together date is Thursday 4 June 2015. As usual this is just a guide. If it is more convenient for your group to meet at another date and time please do so.

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CLASS NOTES

ALUMNI NEWS

Julie Bazinet & Simon Blais Full-time MBA 2010/11

Congratulations to alumna Julie Bazinet and alumnus Simon Blais on their recent marriage in Barbados.

The two met whilst studying the full-time MBA at the Business School and wed in November with a number of their MBA classmates in attendance at the nuptials.

Jin Li Frick Global MBA 2002/03

Congratulations to alumna Jin Li Frick on receiving the National Association of Professional Women’s (NAPW) Professional Woman of the Year 2014 award. She was recognised for this prestigious distinction for her leadership in professional coaching. Jin Li comments: “I became interested in professional coaching after having had the opportunity to work on leadership effectiveness with internal executives at my previous company. It opened my eyes to the power of coaching and its ability to positively influence people to make changes in their lives at work and home.”

Dr Murya Habbash PhD Accounting & Finance 2007/10

PhD alumnus, Dr Murya Habbash, was recently promoted to the position of Dean of Students Affairs at King Khalid University in Saudi Arabia. With more than 80,000 students, this new position involves planning and supervising activities for students, as well as overseeing their student catering, transportation and accommodation.

Ocean Wang Full-time MBA 2008/09

Congratulations to MBA alumnus Ocean Wang and his wife Jesse on the arrival of their first son Kenny Wang. Weighing 5lb 6oz, Kenny was born on 16 September 2014. Ocean is an active member of the DUBS Alumni Network, organising a series of events year-round in Shanghai, as well as volunteering his time on the Business School’s mentoring programme. He also sits on the School’s International Committee in China – DUBSIC.

Giacinto Patellaro MA Business Administration 2006/14

Business School alumnus Giacinto Patellaro recently helped to broker a landmark deal between retailer Marks & Spencer and Future Biogas for the purchase of 35,000 Mega-Watt hours of biomethane certificates, a move which will reduce the retailer’s carbon footprint by over 6,400 tonnes. Giacinto, who is Head of Energy Supply & Risk at M&S, commented, “Over the past couple of years, M&S has worked tirelessly to improve its carbon efficiency and innovate in sustainability. As the first UK retailer to buy biomethane to use in this way, we are blazing a trail in the market place that we hope others will follow.

This deal takes us one step further in our commitment to ensure that, by 2020, 50% of the energy used in M&S buildings comes from certified green biomethane sources.”

Stefan März Full-time MBA 2004/05

Congratulations to Stefan März and his new wife Lauren who wed in Nafplio, Greece in mid-September last year. Several of Stefan’s fellow MBA classmates attended the celebrations, including Chris Thompson, Nyaika Kamurasi, Vasilis Karintzis and Frank Wege. The classmates took the opportunity to meet up in Athens the day before to enjoy each other’s company and talk about the good old times in Durham.

Ann-Margaret Adams Global MBA 2004/07

Congratulations to alumna Ann-Margaret Adams who gave birth to baby boy Jahdai Nkwesi on 21 October. Jahdai was born the day after Ann-Margaret’s wedding anniversary so provided a perfect reason for a double celebration.

Eric Findlay Full-time MBA 2010/11

Congratulations to alumnus Eric Findlay and his wife on the new addition to their family. Havana Liviana Pearl Findlay was born in December weighing 6lbs 13oz.

Alumni Relations Manager Alexandra McNinch (on maternity leave) Penny Hawley (maternity leave cover) Alumni Coordinator Lindsay Young

Alumni Relations Office Durham University Business School Mill Hill Lane Durham DH1 3LB UK T: +44 (0)191 334 5277 F: +44 (0)191 334 5218 E: business.alumni@ durham.ac.uk UK Chapters Southern UK (London) Northern UK (Durham)

BETTER BUSINESS THINKING

International Chapters Azerbaijan Brazil Canada Caribbean China Germany Ghana Gibraltar Hong Kong India Japan Jordan Kazakhstan Malaysia Mexico Nigeria Pakistan

Russia Saudi Arabia Singapore South Africa South America Sri Lanka Switzerland Turkey United Arab Emirates USA

DRUM/05/15/025

To be put in contact with other alumni in your area, please contact the Alumni Relations Team