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Press release

Berlin, July 25, 2011

Update: Statement on current media coverage in Germany

During the last days some media reported on supposed plans to merge ESMT European School of Management and Technology in Berlin with the Frankfurt School of Finance and Management. The media based their speculations on a non-paper with the title “Creating a leading European Business School in Germany: a joint vision for ESMT and Frankfurt School.” Michael Diekmann, Chairman of the Board of Management, Allianz SE, and Chairman of the ESMT Foundation Board of Trustees, commented, “We have acknowledged this proposal and we are not pursuing it further.”

Jörg Rocholl, president of ESMT, said, “A part of ESMT’s business strategy is the continual assessment of cooperations in specific areas of the school, especially with international but also with national business schools. Rumors on a merger with the Frankfurt School have no factual basis.” ESMT currently cooperates with institutions such as the Chinese Executive Leadership Academy Pudong (CELAP), the Darden Business School of the University of Virginia, and the Humboldt University in Berlin.

At the moment ESMT concentrates on expanding its MBA classes and faculty and continues in sharpening its profile in management of technology. Against the background of being placed under the top ten business schools in Europe in the Financial Times Executive Education Ranking 2011 ESMT also aims to win new customers for its executive education programs. ESMT furthermore focuses on settling the succession of former ESMT president Lars-Hendrik Röller who became Chief Economic Policy Advisor to German Chancellor Angela Merkel on July 1, 2011.

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.