MSLAO Advisory Council Directory 2019-2021

ADVISORY COUNCIL 2019-2021

The mission of the MIT Sloan Latin America Office (MSLAO) is to develop and nurture meaningful activities throughout Latin America that benefit the region, the school, and the institute, and support the creation and transfer of knowledge and the advancement of management education and practice.

Juan Pablo Armas

Vice Chairperson, MSLAO Advisory Council

Juan Pablo Armas is a business strategy consultant and serves on the board of several companies in Chile. Currently, he is a member of the board of AndesCan S.A., Esval S.A. and Essbio S.A., and strategy advisor for Saesa S.A., all infrastructure companies belonging to Ontario Teachers’ Pension Plan (Teachers’) from Canada.

He also serves on the board of Viña Errázuriz S.A. (wine), Cía. De Seguros de Vida EuroAmérica S.A. (insurance), Inmobiliaria Manquehue S.A. (real estate and construction), Veterquímica S.A. (laboratory), Comaco S.A. (forestry) and other companies in Chile.

As a strategy consultant, Juan Pablo has been involved for many years in the development and implementation of business strategies and re-engineering processes in numerous industries in Chile and abroad. He is a member of the advisory board of SOFOFA (Governors of the Federation of Chilean Industry).

Previously, he worked at the Claro industrial group in Chile as senior vice president in Cia. Sud Americana de Vapores S.A. (shipping) and CEO of Elecmetal S.A. (steel).

Juan Pablo earned a civil engineering degree from the Universidad de Chile. He was a Fulbright Scholar and earned an MS in management from the MIT Sloan School of Management.

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Gabriella Antici

Partner and CIO, Ace Gestão Global Ltda.

Gabriella (Gabi) Antici is a partner and CIO of Ace Gestão Global Ltda. (“Ace Global”), an investment manager created in 2013 to manage a concentrated global equity portfolio exclusively for a family office in Brazil. Prior to founding Ace Global, Gabi was a managing director and portfolio manager at Goldman Sachs Asset Management (GSAM). Gabi worked at GSAM for 16 years in New York, London, and São Paulo, having held various positions in the portfolio management area. In her last role, Gabi was responsible for GSAM’s Emerging Markets Equity strategies as well as GSAM’s business in Brazil. Prior to GSAM, Gabi worked as a research analyst and portfolio manager at HSBC Asset Management, Baring Asset Management, and Fidelity Investments, in New York and Boston.

Gabi is also an investor and board member of Dr. Consulta, a healthcare company in Brazil. She is the founder and president of the board of Instituto Protea, an NGO that treats poor Brazilian women with breast cancer.

Gabi received her undergraduate degree in economics from Pontifícia Universidade Católica in Rio de Janeiro. She received her MS from the MIT Sloan School of Management.

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David Capodilupo Assistant Dean, MIT Sloan Global Programs

David leads a team which oversees a growing portfolio of global partnerships to expand MIT Sloan’s relationships and impact around the world. These collaborations mutually advance the capabilities of academic institutions, corporations, and governments to provide innovation, leadership, entrepreneurship, knowledge creation, and sustainable solutions.

David joined MIT Sloan School of Management in 2002 as executive director of the MBA program. He brings more than 30 years of executive level experience to Global Programs, having held senior vice president positions at Putnam Investments and Fidelity Investments. He founded his own consulting companies: Aspen Concepts LLC, specializing in environmental investments with the Chinese government and TribeHive LLC, a software development company for executive training and placement.

David is a member of the Boeing 727 Prototype Restoration Team and the board of the Global Business School Network in Washington, D.C. He has also served as a board member of the MIT Sloan School North American Board, the board of the MassArt Foundation, and the board of directors of the Future of Flight Museum in Everett, WA.

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Vittorio Corbo

President, Vittorio Corbo & Associates

Vittorio Corbo is president of Vittorio Corbo & Associates. He is also a member of the Honorary Council of the Centro de Estudios PĂşblicos (CEP), a member of the International Advisory Council of the Center for Social and Economic Research, and a fellow of the International Economic Association.

He was president of the Central Bank of Chile, a member of the Advisory Board of the Chief Economist at the World Bank, and a member of the Advisory Committee of the Capital Market Department at the IMF. In the academic world, he was an assistant professor, associate professor, and professor of economics at Concordia University in Montreal, Canada. He was also a professor of economics at the Pontificia Universidad CatĂłlica de Chile and a professorial lecturer in economics at Georgetown University in Washington, D.C. In the business world, he is currently a board member of CCU S.A. and an economic adviser to SURA and other important Chilean and foreign companies.

Vittorio was chosen World Central Banker of the Year by the Global Finance Magazine, the Chilean Economist of the Year by El Mercurio newspaper, Commercial Engineer of the Year, and was granted the Inbest Chile Prize of the Year for his contribution to the development of the Chilean capital market. He has authored and co-authored eleven books and over 100 articles published in international economic journals and books.

Vittorio holds a commercial engineering degree with maximum distinction from Universidad de Chile, and a PhD and postdoctoral in economics from MIT.

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Clarisa Estol

Director, Biomakers S.A.

Clarisa Estol is the director of Biomakers S.A., a leading biotechnology company in Argentina. She was previously chair of the Business Women Leaders´ G20 Task Force, secretary of state in the Ministry of Communication, and chairman of the board and CEO of Banco Hipotecario. Prior to that, she held several executive as well as board positions in Pampa Energia, Axis Inversiones, Cresud, IRSA, Consultores Asset Managemet, Roberts Capital Markets, and others.

She was also vice president of IDEA, ABAPPRA, and member of the executive committee of ADEBA, the World Economic Forum Global Future Council for the Digital Economy and Society, ESEADE, RAP, YPO, etc.

Clarisa Estol holds a BA in economics from the University of Buenos Aires, where she graduated with honors and an MS in management from the MIT Sloan School of Management.

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Rodolfo Henrique Fischer CEO, Associação Anna Laura

Rudi Fischer is the founder of Associação Anna Laura in Brazil.

Associação Anna Laura offers psychological help, provides social logistics, and creates accessible parks.

Rudi is also a member of the Ethical Committee for Research with Human Beings (Instituto de Psicologia da Universidade de São Paulo), and on the board of Fundação everis Brasil, Museu de Arte Moderna (São Paulo), Instituto Itaú Cultural, CAS Tecnologia, Identidata LLC, Instituto Gerando Falcões, Instituto Recomeçar, Instituto Pequenos Grandes Guerreiros, and Associação Comunitária Despertar. He is also on the supervisory board of Instituto PDR and FJLES (Hospital Sabará), and the International Capital Markets Association (ICMA).

Rudi is also a mentor for social entrepreneurs at Decor Social, Instituto Responsa, and Instituto Reflexões da Liberdade.

Rudi’s career was in the financial markets from 1984 to 2012, having held various positions at institutions such as member of the Federal Reserve Bank of New York’s Foreign Exchange Committee, member of board of directors at the Trade Association for the Emerging Markets, EVP at Banco Itaú SA, board member and EVP at Banco Itaú BBA. He was also chairman of the board at Câmara Interbancária de Pagamentos, board member at BM&F, board member at the National Association of Financial Market Institutions, and professor at Programa de Educação Continuada, Fundação Getúlio Vargas, São Paulo.

He has a civil engineering degree from Escola Politécnica da Universidade de São Paulo and an MS in business from the MIT Sloan School of Management.

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José De Gregorio

Dean, School of Economics and Business, Universidad de Chile

José De Gregorio is a professor and dean of the School of Economics and Business of Universidad de Chile. He is also a non-resident senior fellow at the Peterson Institute for International Economics, member of the board and financial advisor at several private companies, and a consultant for international financial organizations.

José was the president of the Central Bank of Chile from 2007 until 2011, after being its vice-president from 2003, and member of the bank’s board since 2001. During 2000 and 2001, he was minister of Economy, Mining and Energy. From 1997 to 2000, he was a professor and head of graduate programs at the Center for Applied Economics at the Universidad de Chile. From 1994 to 1997, he held the position of coordinator of economic policy at the Ministry of Finance.

From 1990 to 1994, he worked as an economist in the research department of the International Monetary Fund (IMF). He has also been a visiting scholar at the IMF, the World Bank, and visiting fellow at the Peterson Institute of International Economics, and visiting professor at the Anderson School, UCLA. During his professional life he received a number of honors and awards, such as Central Banker of the Year in Latin America for 2008, awarded

by The Banker. He has published four books and authored more than 100 articles on issues including monetary policy, exchange rates, international finance, and economic growth.

He has a degree in civil engineering and an MS in engineering from Universidad de Chile, where he received the Marcos Orrego Puelma award for the best graduate of his generation. He obtained a PhD in economics from MIT.

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Arnoldo Hax

Professor Emeritus, MIT Sloan School of Management

Arnoldo Hax is an internationally known expert in the field of strategic management and operations management, where his primary research focuses on the development and implementation of formal strategic planning systems for business firms. His most recent book is The Delta Model-Reinventing Your Business Strategy, which provides a novel and comprehensive strategy framework. He is a co-author of The Delta Project: Discovering New Sources of Profitability in a Networked Economy; The Strategy Concept and Process: A Pragmatic Approach (first and second editions); Strategic Management: An Integrative Perspective; Production and Inventory Control; and Applied Mathematical Programming.

He also edited Studies in Operations Management, Planning Strategies That Work, and Readings in Strategic Management. He has been granted a doctor honoris causa by the Pontificia Universidad Catรณlica de Chile and by the Universidad Politecnica de Madrid. In 2013, the president of Chile decorated him with the order of comendador for distinguished services to the country.

Arnoldo holds an MS in industrial engineering from the University of Michigan and a PhD in operations research from the University of California, Berkeley. He received a BS in industrial engineering from Pontificia Universidad Catรณlica de Chile.

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Marcelo Larraguibel Partner, Virtus Partners

Marcelo Larraguibel is partner at Virtus Partners in Santiago, Chile.

Marcelo founded Virtus Partners in 2007 after more than 18 years as a senior partner at McKinsey & Co working in its Santiago, Madrid, Buenos Aires, Lima, and SĂŁo Paulo offices.

Marcelo has worked as a top management consultant serving hundreds of leaders of private companies and public institutions to redefine their strategies, improve their operations, and reshape and transform their organizations.

He has contributed to MIT Sloan for many years, first as a member of the of the Dean’s Executive Boards, and then as a council member of the MIT Sloan Latin America Office.

He holds a degree in industrial engineering from Universidad de Chile and an MS in management from the MIT Sloan School of Management.

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Hans Lin

Head of Investment Banking, Bank of America Merrill Lynch

Hans Lin is head of Investment Banking at Bank of America Merrill Lynch.

He joined Bank of America Merrill Lynch in 2008 as the managing director responsible for industrials and TMT. He provided capital markets and strategic advisory in transactions totaling over $350 billion. His latest responsibilities included the coverage of the metals and mining clients.

Prior to joining Bank of America Merrill Lynch, Lin was a managing director at UBS, responsible for the General Industrials Group. Before that, he was a senior vice president at Goldman Sachs in New York, where he worked in the Latin American Investment Banking, Emerging Markets Capital Markets, and Corporate Finance departments. Hans also worked for JPMorgan in its Latin American Merger & Acquisitions department.

Hans holds a BS in mechanical engineering from Escola PolitĂŠcnica da Universidade de SĂŁo Paulo and an MBA from the MIT Sloan School of Management.

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Luis Llanos

Founder, Westgate Energy

Luis Llanos is an entrepreneur and business consultant in Chile. Prior to founding Westgate, an energy project developer and operator, he had an extended executive career at CMPC, one of the leading companies in the Latin American paper industry which regularly sponsors students to the MIT Sloan MBA program. At CMPC, Luis was CFO from 2004 to 2016 and CEO of Packaging until 2018.

Luis has served on the boards of several companies, including Banco BICE and non-profit organizations related to education. He is also an adjunct professor at Universidad de Chile’s Engineering School.

Luis is a graduate of the Universidad de Chile in industrial civil engineering and has an MS degree from MIT Sloan School of Management.

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Andrónico Luksic

Honorary Member, MSLAO Advisory Council Chairman, Quiñenco S.A.

Andrónico Luksic is chairman of the board of directors of Quiñenco S.A., Chile’s leading business conglomerate and the controlling entity of a number of industrial and service companies. He is also the vice chairman of the board of directors of Banco de Chile, the country’s leading financial institution. Andrónico is president of Compañía Cervecerías Unidas S.A. (CCU) and its subsidiary companies CCU Chile and CCU Argentina. He is also vice president of Compañía Sudamericana de Vapores S.A. (CSAV), and a member of the board of directors of Antofagasta Minerals plc, Nexans, and Invexans.

In Chile, Andrónico founded and is president of three nonprofit organizations: Fundación Educacional Oportunidad, Fundación Amparo y Justicia, and Fundación Impulso Inicial. He is also a board member of the Chile Pacific Foundation. Outside of Chile, he is a member of the International Business Leaders’ Advisory Council for the mayor of Shanghai, the international advisory board of Barrick Gold, the international advisory council of the Brookings Institution, the Chairman’s International Advisory Council at the Americas Society/Council of the Americas, and a founding member of the advisory board of the Panama Canal Authority.

Consistent with his commitments to education, he is a founding member of the Harvard Global Advisory Council and the Columbia University World Projects Advisory Council, as well as the international advisory boards of the Fudan University School of Management and the Blavatnik School of Government at the University of Oxford.

Andrónico was educated in Santiago at the Grange School prior to attending the Dublin Preparatory School and Babson College.

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Elisa Mofarrej

Vice President and Board Member, Cia Mofarrej de Empreendimentos

Elisa Mofarrej is vice president and board member of Cia Mofarrej de Empreendimentos (a 55-year-old real estate development and property management company based in São Paulo). Prior to that, she has worked in management consulting, investment banking, and real estate analysis. Elisa is an avid contemporary art collector and an angel investor in sustainable fashion and biotech.

Elisa holds a BBA from Fundação Getulio Vargas in São Paulo and an MBA from the MIT Sloan School of Management.

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Carlos Muñoz

Director, Clínica Ensenada

Carlos Muñoz is an entrepreneur in the health sector (Clínica Ensenada) and serves on the board of Grupo Abluo (professional cleaning products and equipment) in Santiago, Chile. Prior to that, he held senior managerial positions at Ultramar Group (Sitrans and Sabinco), Methanex, and Viña Concha y Toro.

Carlos earned a degree in industrial civil engineering from the Universidad de Santiago de Chile and an MBA from the MIT Sloan School of Management.

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Roberto Murchison

General Manager, Grupo Murchison

Roberto Murchison is currently general manager of Grupo Murchison with responsibilities for the following: Terminal Zárate—a vehicle and multipurpose terminal on the Paraná River; Murchison Estibajes y Cargas—a general stevedoring company operating in the main Patagonian ports; UTE Defiba-Murchison—bonded warehouse in the port of Buenos Aires; Murchison Uruguay—logistics and distribution company in the city of Montevideo; and Patagonia Norte—a company in association with fruit exporters from the Río Negro Valley that operates in the ports of San Antonio Este and Bahía Blanca.

He also serves as vice president of the Chamber of Private Commercial Ports in Argentina; vice chairman of IDEA (Argentine Business Chamber); board member of the TTClub (Mutual Insurance Association); board member of ACDE (Argentine branch of UNIAPAC, a Christian Business Association), and is an elder of the San Andrés Presbyterian Church.

Roberto is an industrial engineer who graduated from the Technological Institute of Buenos Aires (ITBA) and holds an MBA from the MIT Sloan School of Management.

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Adriana Noreña

Vice President, Google Spanish Speaking Latin America

Adriana Noreña, vice president for Google Spanish Speaking Latin America, has been leading the region since June 2011 and is based in São Paulo. Before that, she was country director for Google Argentina from 2009 to 2012, and sales and online operations director, first for Brazil and then for Latin America.

Before joining Google, Adriana was marketing and business development director in Avaya; and strategic and finance planning manager in Elma Chips (PepsiCo). She is also the founder of a cosmetic products company.

Adriana currently serves as a member of MIT Sloan Latin America Office's Advisory Council, as board member of ALSEA, and recently has joined the board of Laboratoria.

Adriana holds a degree in business administration from Universidad Icesi (Colombia); as well as an MBA from Babson College (USA) and an MS in management of technology from the MIT Sloan School of Management.

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Gustavo Pierini

Founder, Gradus Management Consultants

Gustavo Pierini is president and founder of Gradus Management Consultants, headquartered in São Paulo, Brazil. Gradus was established in 1996 to assist the owners of GP Investments—the largest private equity fund in Brazil at the time—in the turnaround of acquired companies and the efficiency improvement programs of portfolio companies. During this collaboration period of more than 15 years, Gradus developed proprietary methodologies to improve productivity that are now implemented in more than 120 companies, both in Brazil and abroad.

Lately, these original methodologies garnered extensive press coverage given the significant impact they had on the portfolio of 3G Capital (e.g., Anheuser-Busch InBev SABMiller, Burger King, Heinz, and Kraft), the investment company founded by the former owners of GP Investments.

In the past, he worked at McKinsey & Co., where he became partner and worked at the firm’s offices in Boston, Lisbon, Madrid, and São Paulo.

Gustavo received his BA and MS summa cum laude in naval mechanical and systems engineering from the University of Buenos Aires. He also earned an MS from the MIT Sloan School of Management.

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Roberto Rigobon

Faculty Advisor, MSLAO Society of Sloan Fellows Professor of Management and Applied Economics, MIT Sloan

Roberto Rigobon is a Venezuelan economist whose areas of research are international economics, monetary economics, and development economics. Roberto focuses on the causes of balance-of-payments crises, financial crises, and the propagation of them across countries—the phenomenon that has been identified in the literature as contagion.

Currently, he studies properties of international pricing practices, tries to produce alternative measures of inflation, and is one of the two founding members of the Billion Prices Project, and a Co-Founder of PriceStats.

In addition to being a professor, Roberto is also a research associate at the National Bureau of Economic Research, a member of the Census Bureau’s Scientific Advisory Committee, and a visiting professor at IESA. Since Roberto has joined the MIT Sloan School of Management, he has won the Teacher of the Year award and the Excellence in Teaching award three times at MIT. He received his PhD in economics from MIT, an MBA from IESA (Venezuela), and his BS in electrical engineering from Universidad Simón Bolívar (Venezuela).

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Mauricio Salgar

Managing Director, Advent International

Mauricio Salgar is the managing director at Advent International in Colombia. Advent International is a global private equity firm. He joined the company in 2012 as managing director and head of the office in Bogotá, Colombia. Mauricio has led several investments in Latin America including Alianza Fiduciaria, Alianza Valores, Grupo Biotoscana, GTM (Grupo Transmerquim), Oleoducto Central (Ocensa), United Medical, LifeMiles, and GMD. Prior to joining Advent International, he was a vice president and member of the executive committee at Sanford, a privately held investment firm.

Prior to Sanford, Mauricio was COO of Ecopetrol, the Colombian national oil company, where he was responsible for its exploration, production, refining, supply and marketing organizations and shared services units. He also served as Ecopetrol’s interim CEO for a period of time. Before Ecopetrol, Mauricio co-founded despegar.com, an online travel agency, and was an associate at Booz & Co, where he advised clients which included the largest water utility in Colombia, the largest tin mine in Peru and the largest construction company in Colombia.

Mauricio received a degree in industrial engineering from the Universidad de los Andes in Bogotá and earned an MBA from the MIT Sloan School of Management.

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Piero Solari

Chairperson, MSLAO Advisory Council Executive Director, Megeve Investments

Piero Solari serves as executive director of Megeve Investments in Chile.

Piero has been the executive director at the family office of the Solari family since 2009. Prior to that, he served as executive chairman of Aguas Nuevas S.A. from 2004-2009, and worked for Falabella SACI from 1993- 2004.

He is currently a board member at the following companies: Fratelli Investments Limited (financial investments); Haldeman Mining Company (copper & gold); and chairman of Aptus Chile (non-profit education organization). He is also a member of the MIT Sloan School of Management Dean’s Americas Executive Board.

Piero holds an MBA from the MIT Sloan School of Management.

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Jeff Swiryn

Advisor to the Chairman, Quiñenco S.A.

Jeff Swiryn has been working with the chairman of Quiñenco S.A., Chile’s leading business conglomerate, since 2011 focused primarily on the chairman’s international educational initiatives and international business development.

Jeff is a member of the MIT Sloan Latin America Office Advisory Council, as well as the advisory boards of the Confucius Institute at the Universidad Católica de Chile and ChileMass. He is also a member of the board of directors of the Chile-India Chamber of Commerce and the executive committee of the Luksic Center for China-Latin America Management Studies at Tsinghua University.

Since 2019, he has also been the executive director of Luksic Scholars, an online platform dedicated to the 20+ years of scholarships and other academic projects supported by the Luksic family in Chile, the US, China, and Europe.

A native English speaker and fluent in Mandarin Chinese and Spanish, Jeff received a BA in Chinese language and international affairs from the University of Puget Sound in Tacoma, Washington. He also earned a graduate degree from the Johns Hopkins-Nanjing University Center for Chinese and American Studies in Nanjing, China.

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Lee Ullmann

Senior Director, MIT Sloan Latin America Office

Lee is senior director of MIT Sloan’s Latin America Office. Lee implements the overall strategy, planning, and development of activities for the school. Based in Santiago, Chile, he collaborates with local governments, universities, NGOs, and the private sector to extend MIT’s role and impact in Latin America.

Lee joined MIT in 2014. His previous experience includes numerous positions in the field of education. He worked in higher education roles for the US State Department in Chile, served as a faculty member at Columbia University, and worked as a consultant in the e-learning sector to help build AI software for pharmaceutical companies and databases for museums and schools. He is a former Peace Corps volunteer (Ecuador) and a Fulbright Research Fellow (Turkey).

Lee has published articles and has lectured on a variety of topics, from education in Latin America, to new technologies and innovation, to the ancient world. In 2017, he co-edited Hittite Landscape and Geography, published by Brill. He holds BA, MA, MPhil, and PhD degrees, all from Columbia University.

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Italo Zunino

Chairman and CEO, Virutas de Maderas S.A.

Italo Zunino is the chairman of the board of Virutas de Madera S.A., the largest Chilean wood shaver producer, where he owns a majority stake.

He also participates in several real estate and agricultural ventures (fruit production and cattle raising) in Chile. After stepping down from several of his managerial positions, Italo is now dedicating some of his time to nonprofit activities.

For more than 25 years, he has held management and board positions in forest, agricultural, real estate, and wholesale distribution businesses. He has acted as president of the MIT Chile Club and as director of the board of the Chilean Horse Breeding Federation for more than 10 years. Italo enjoys horse breeding, Chilean rodeo, and fly fishing.

He received his degree of agricultural engineer from the Pontificia Universidad Catรณlica de Chile and his MBA from the MIT Sloan School of Management.

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GOVERNANCE POLICIES

OF THE ADVISORY COUNCIL OF THE MIT SLOAN LATIN AMERICA OFFICE July 1, 2019 These Governance Policies of the Advisory Council of the MIT Sloan Latin America Office (MSLAO) are adopted as of the date set forth above.

ARTICLE I Purpose and Responsibilities Section 1.

Purpose. The chief responsibility of the MSLAO Advisory Council is to support and advance the Massachusetts Institute of Technology’s (MIT) and the MSLAO’s mission by providing advice and recommendations directed towards developing a sound strategy and goals for the MSLAO.

Section 2.

Advisory. The Advisory Council shall provide such advice and recommendations to the Dean of the MIT Sloan School of Management.

Section 3.

Responsibilities. The Advisory Council Members will, in collaboration with MIT leadership provide insight, knowledge, and facilitate introductions across Latin America. The Council members will: (1) Propose matters for consideration by the Director/Senior Director of the MSLAO (2) Assist with MSLAO projects and initiatives, as requested (3) Help MSLAO promote and expand awareness about MIT in the region, as requested

ARTICLE II Meetings and Voting Section 1.

Schedule of Meetings. Regular meetings of the Advisory Council normally shall be held three to four, with a minimum of two, times per academic year. Additional meetings may be called at any time by any one of the following: (a) The Faculty Director or the Director/Senior Director of the MIT Sloan Latin America Office (b) The Chairperson of the Advisory Council (c) The Dean of the MIT Sloan School of Management

Section 2.

Notice of Meetings. (a) Written notice of every regular meeting of the Advisory Council and Council Working Groups shall be given to each Council member at least one month before each meeting.

Notice may be delivered personally or by mail, including electronic mail. (b) An agenda listing the matters to be considered at each meeting shall be provided prior to the meeting.

Section 3.

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Quorum. Attendance in person or through the aid of audio teleconferencing technology of a majority of the qualified Council members at a meeting of the Advisory Council shall constitute a quorum for the transaction of business.

ARTICLE III Members of the Advisory Council Section 1.

Size, Representation, and Selection. The authorized total number of Advisory Council members of the MSLAO shall be up to and not exceeding twenty-three (23). The Council members shall be drawn from the faculty, administration, MIT alumni and business leaders from Latin America as set forth in these Governance Policies. The distribution of membership shall be as follows.

Members: (1) Up to nineteen (19) members and no more, at least 75% of whom hold a degree from MIT (2) At least one member of the MIT faculty (3) The Assistant Dean of MIT Sloan Global Programs (GP) (4) Founding Member 1: Andrรณnico Luksic or his representative (5) Founding Member 2: Piero Solari or a representative from the Solari family

Section 2.

Terms of Office. The terms of office of Council members will normally be for three years, except for the Faculty Director, Assistant Dean of GP, and the Founding Members. All Council members have the possibility of reappointment. There is no limit to how many terms of office a Council member can have. Terms of office shall begin on July 1 and end on June 30.

Section 3.

Selection of Council Members. Council members will be appointed by the Chairperson and Assistant Dean of GP and approved by the Faculty Director and the Dean of the Sloan School. The first year on the Council will be a trial period. After the first year the Chairperson, Assistant Dean of GP, and the Faculty Director will decide whether the new member should continue to stay on the Council for the subsequent two years.

Section 4.

Attendance. Council members are required to attend a minimum of two Council meetings per year (physically of virtually). Council members are expected to attend meetings fully prepared and to remain in attendance for the duration of the meeting. If a Council member cannot attend a Council meeting they must let the Director/Senior Director of the MSLAO know in writing at least one week prior to the meeting. A Council member who misses three consecutive meetings due to reasons not considered reasonable by the Chairperson, will be asked to step down from the Council.

Section 5.

Chairperson. The Chairperson will be appointed by the Faculty Director and the Assistant Dean of GP. The Chairperson will require approval by the Dean of the MIT Sloan School. A Chairperson can serve for a maximum of two sequential terms of three years each. The Dean of the MIT Sloan School can decide to extend the term of the Chairperson for one year until a duly qualified Chairperson is appointed.

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Section 6.

Vice Chairperson. The Vice Chairperson will be appointed by the Chairperson, Faculty Director, and the Assistant Dean of GP. A Vice Chairperson can serve for a maximum of two sequential terms of three years each.

Section 7.

Working Groups. The Advisory Council may act through working groups as it shall determine from time to time. Such working groups shall advise with respect to such matters as the Advisory Council shall delegate, consistent with these Governance Policies.

Section 8.

Past Chairperson and Emeriti Council Members. Emeriti Council Members will be appointed in extraordinary situations. Past Chairperson and Emeriti Council members can attend Advisory Council meetings as they desire, however, they do not have voting rights and do not have to adhere to the attendance policy described in these Governance Policies.

Section 9.

Honorary Council Members. Honorary Council member status will be bestowed on Council Members in good standing upon completion of their term. Honorary Council Members will be kept informed of MSLAO activities and developments. Honorary Council Members will be invited to Advisory Council meetings on a periodic basis.

Section 10.

Director/Senior Director. The Director/Senior Director of the MSLAO sets the agenda and shapes the work of the Advisory Council.

ARTICLE IV Reports Section 1.

Reports. The Advisory Council shall receive an annual report from the Director/Senior Director of the MSLAO. This annual report will normally be prepared and ready for distribution by the U.S. spring Council meeting.

ARTICLE V Amendments and Dissolution Section 1.

Amendments. These Governance Policies may be repealed or amended or new Governance Policies may be adopted by majority vote of the Advisory Council and approval of the Chairperson, Assistant Dean of GP, the Faculty Director, and the Associate Provost for International Activities of MIT.

Section 2.

Dissolution. If determined to be in the best interest of MIT or the MSLAO, the Advisory Council may be dissolved upon the approval of the Assistant Dean of GP, the Faculty Director, and the Associate Provost for International Activities of MIT.

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San Sebastiรกn 2909, oficina 4 Las Condes, Santiago, Chile