IAB members According to IESE's International Advisory Board "Europe has not yet undergone the Internet revolution" IESE's International Advisory Board (IAB) met at IESE in Barcelona on 25 February 2000 and agreed that there was an urgent need for European companies to face up seriously to the challenges of the Internet if they were not to trail in the wake of their American counterparts Resumen The IAB believes that Europe has still to undergo the Internet revolution. European companies need to expend much more energy in reconsidering the form that their businesses will take and adapt them to new technological requirements. The European business community must analyze how they want their companies to be over the next ten years so that they can begin to allocate the resources and take the intermediate steps necessary to achieve this goal. The members of the IAB warned that in spite of the fact that Europe has taken the lead in mobile telephone communications, the Americans (who are already the leaders as regards the Internet) may well take over from us in this field. IESE's International Advisory Board, founded in 1989, is chaired by Carlos Cavallé, Dean of IESE, and its members are all chairmen of multinational companies from Europe, Asia and America. Its purpose is to advise IESE's management in all matters relating to the development of the world economy and company management. The IAB also emphasized the importance of quality education and said that this must be a priority objective for governments, companies, political parties and unions alike. In the words of the Board, globalization offers many opportunities to many people, but the ones who benefit most are those with the greatest ability. Without quality education at all levels, there is a real risk of exacerbating the ever-increasing degree of inequality between rich and poor.

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IAB members
New members This year, the Advisory Board includes four new members: Sir John Carter, member of the Executive Committee of Commercial Union and the HSBC, Jürgen Radomski, member of the Corporate Executive Committee of Siemens AG, Emilio Ybarra, chairman of BBVA, and Mariano Puig, chairman of the Board of Directors of Puig Corporation Michel ALBERT Banque de France France Peter A. BROOKE (Honorary Member) Advent International Corp. USA Jordi CANALS IESE Spain John CARTER Commercial Union HSBC England Carlos CAVALLÉ IESE Spain Óscar FANJUL Hidroeléctrica del Cantábrico Spain Toyoo GYOHTEN Bank of Tokyo Japan Paul-Louis HALLEY Promodès France J. Gerhard HEIBERG Den Norske Bank AS Norway Yutaka KUME (Honorary Member) Nissan Motor, Co. Ltd. Japan Carlos MARCH Corporación Financiera Alba Spain Leif ÖSTLING Scania AB Sweden Rafael del PINO Ferrovial Spain Mariano PUIG (PDG-I 64) Corporación Puig Spain Jürgen RADOMSKI Siemens AG Germany Juan ROURE IESE Spain Juan A. SAMARANCH (PADE-I 62) "La Caixa" Spain Marjorie SCARDINO Pearson plc England Johan SCHRØDER (GPMD 94) Radiometer A/S Denmark Martin SORRELL WPP Group plc England Kees J. STORM Aegon NV The Netherlands Gaston THORN Banque Internationale à Luxembourg Luxembourg Albrecht WOESTE Henkel KGaA Germany Emilio de YBARRA BBVA Spain