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News Public Statement - PRME Board Nominations and Governance
15 June, 2023 New York, United States

Public Statement - PRME Board Nominations and Governance

30 October 2023 Update:

During the last PRME Board Meeting on 10 October 2023, the decision regarding the conflict was made, the process was concluded, and we communicated the outcomes to all relevant parties. PRME has sought to uphold its commitment to its community’s wellbeing and transparency in the process, while maintaining the integrity of the people involved.

Dear PRME Community,

We are a global community of like-minded institutions and individuals with common values and a shared mission to transform management education worldwide. We are also a Principles-based organization, and among our Six Principles, we reinforce the need for constructive dialogue within and beyond our community. Therefore, based on our Principles, values, and mission, the PRME Board wants to clarify recent developments regarding its Governance and Nominations.

With the approach of the termination of its first three-year cycle (2020-23) and following the normative structure of the PRME Governance and Board Term of Reference, the PRME Board initiated its renewal through an eight-month comprehensive Nominations Process to select new PRME Board Members for the subsequent three-year term. The PRME Board Nominations and Governance Committee led this diligent process, including a broad review of the Board Members, an open call for nominations to the PRME community, a detailed screening stage, and several interviews with shortlisted candidates. On 7th March 2023, the Nominations and Governance Committee presented their recommended candidates to the PRME Board for review and approval. The approved candidates were communicated about the Nomination Process results and informed that their official announcement and ratification would take place during the 2023 PRME Global Forum (12th-14th June 2023), and then, their statutory term as new PRME Board Members would officially begin 1st July 2023.

Within this transitional period between March and July, the Nominations and Governance Committee was informed of significant concerns about a specific nomination through a substantial letter signed by various members of the PRME community. After carefully analyzing the letter's content and, in agreement with the PRME Board Chair and Vice-Chair, the Nominations and Governance Committee understood that the issues that have come to its attention might be in conflict with the terms of the Board and thus required further exploration before reaching a final decision.

At this moment, the Nominations and Governance Committee immediately communicated with the complainant and implicated parties that the Board would not withdraw the nomination but temporarily hold it until the Conflict Resolution Process is completed by the end of October 2023. It is worth highlighting that the Nominations and Governance Committee also requested the confidentiality of both parties to preserve the integrity of the individuals involved and ensure the process fairness without external disruptions.

At the PRME Board meeting on 12th June 2023, the Conflict Resolution Process was discussed without detailing this specific case to keep its confidentiality and avoid any anticipated interpretative bias. The PRME Board endorsed and approved the process by consensus and struck a temporary Sub-Committee for Conflict Resolution composed of three experienced PRME Board Members, including the PRME Board Vice-Chair and members of the Board and Nominations and Governance Committee, to proceed with the process accordingly.

As you may see on the timeline below, the Conflict Resolution Process is a seven-step process that includes hearings to carefully investigate the case by listening to both parties. After that, the Sub-Committee will provide to the PRME Board their recommendation to proceed or withdraw the nomination based on precise and assertive information, which will be ratified by the Board on October 2023.

In conclusion, the PRME Board wants to restate its commitment to our community's well being, which sometimes includes dealing with and resolving conflicts that might emerge. The PRME Board reinforces that all backward and forward procedures are taken with careful consideration to ensure the process's transparency, fairness, and confidentiality, thus preserving the involved individuals' integrity and in accordance with the PRME Principles, values, and mission. Therefore, we request our distinguished community trust our experienced, diligent, and highly ethical PRME Board to proceed with this Conflict Resolution Process in the coming months.


Ilian Mihov

PRME Board Chair

Tima Bansal

Incoming PRME Board Chair

Andrew Karolyi

Incoming PRME Board Vice-Chair

Elisabeth Fröhlich

PRME Board Nominations and Governance Committee

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