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Press release

Berlin, February 1, 2012

Stefan J. Reichelstein new president of ESMT

ESMT European School of Management and Technology has appointed Prof. Stefan J. Reichelstein as president of the international business school in Berlin, effective June 1, 2012. The internationally renowned academic is currently the William R. Timken Professor of Accounting at the Stanford University Graduate School of Business. Stefan Reichelstein received his PhD from the Kellogg School of Management at Northwestern University. In the 1990s he was a professor at the University of California at Berkeley.

"I am looking forward to serving as president of ESMT. In its short history, ESMT has asserted its position in the business school landscape. I will focus on further advancing ESMT’s reputation in the areas of teaching and research, while working closely with its founding companies," said Prof. Reichelstein, who has been a distinguished affiliate professor at ESMT since September 2010.

"With his extensive experience and outstanding research achievements, Stefan Reichelstein is the ideal choice to spearhead ESMT’s future growth and development. Under his leadership, ESMT will further strengthen its commitment to educating globally responsible leaders," commented Dr. Clemens Börsig, Chairman of the Supervisory Board, Deutsche Bank AG and the ESMT Supervisory Board. Dr. Börsig headed the committee composed of members of the ESMT faculty and academic board which was charged with finding a successor for Prof. Lars-Hendrik Röller, who was appointed Chief Economic Policy Advisor of Federal Chancellor Dr. Angela Merkel in July 2011. Prof. Jörg Rocholl has led the international business school since then.

Michael Diekmann, Chairman of the Board of Management, Allianz SE, and Chairman of the ESMT Foundation Board of Trustees, said, "I am delighted that ESMT has engaged such a renowned academic and well-qualified candidate as president. Furthermore, I would like to thank Jörg Rocholl, who not only played an important role as a member of the search committee, but also successfully led ESMT in recent months." In 2011 ESMT placed among the Top 10 business schools in Europe in the Financial Times Executive Education ranking for the first time.

Prof. Reichelstein received his MS in Managerial Economics from the Kellogg School of Management at Northwestern University in 1980. Prior to that, he completed his undergraduate studies in economics at the University of Bonn in Germany. Over the past 20 years, Reichelstein has served on the faculties of the Haas School of Business at UC Berkeley, the University of Vienna in Austria, and the Stanford GSB. Prof. Reichelstein is known internationally for his research on the interface of management accounting and economics. He has received honorary doctorates from the Universities of Mannheim and Fribourg. In addition to serving on the editorial boards of a number of journals, he is currently an editor of the Review of Accounting Studies and Foundations and Trends in Accounting.

About ESMT

ESMT European School of Management and Technology was founded in October 2002 by 25 leading global companies and institutions. The international business school offers a full-time MBA, an executive MBA, and open enrollment and customized executive education programs. ESMT focuses on three main topics: leadership and social responsibility, European competitiveness, and the management of technology. Additionally the business school provides an interdisciplinary platform for discourse between politics, business, and academia. ESMT is based in Berlin, Germany, with an additional campus in Schloss Gracht near Cologne, where USW Netzwerk runs the German-speaking executive education programs of the business school. ESMT is a private business school, accredited by the German state, AACSB, AMBA, and FIBAA.