2000 / 2001

Message from the President Key Figures The Annual Meeting 2001 in Davos New Governance Structure Centre for the Global Agenda Centre for Global Industries Centre for Regional Strategies Resources and Knowledge Management Communications Strategic Partners 1 3 4 6 7 9 11 15 15 17

Message from the President
The past year has certainly been a tumultuous one for all of us, beginning with the threat of antiglobalization protest and ending with the threat of global terrorism. But despite the many challenges, the World Economic Forum was able to effect a major transformation in its governance structure and in its approach to its mission. While recognizing the

critical role of business in achieving the Forum’s goal of “improving the state of the world,” the new structure enables other stakeholders to be more strongly involved in the process. We were able to
bring on board a strong new leadership team to help manage our expanding portfolio of activities, and we were able to provide even greater value to our members and partners. During fiscal year 2000/2001, the World Economic Forum moved from its traditional role as a convener of events to a wider new role as a catalyst for progress on important items on the global agenda. In collaboration with our members and partners, we created task forces and initiatives that advanced knowledge and human progress on issues of industry, social and geopolitical interest. And we redefined our mission to emphasize the collaborative role of business in improving the state of the world. The financial reporting year ended before 11 September, but the events of that day have so coloured our reality that I feel I must devote some space to assessing the impact of those events on the World Economic Forum. As I have written in personal correspondence to our members and partners, I was in New York on 11 September and the horrific events that took place in lower Manhattan made an indelible impression on me, as I know they did on people around the world. In the days following the tragedy, the World Economic Forum expressed its heartfelt condolences to the families and friends of the thousands of victims of the attacks, and we communicated our sympathies and statements of support directly with our member companies, many of whom lost colleagues that day. The tragic events of 11 September have shown more than ever before the need for a global platform which allows business, governments, international organizations, academia and the media to join together in collaborative efforts to address key issues on our global agenda. The World Economic Forum is ideally suited to perform this role based on the


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engagement of its 1,000 corporate members and the trust it has established with governments and other constituents in the course of its over 30-year history of entrepreneurship in the global public interest. In the weeks that followed the events of 11 September, the World Economic Forum staff completely reshaped the programme for the Annual Meeting 2002 to reflect the changed world in which we live. We will convene an Annual Meeting early next year that will directly address the enormous geopolitical and global economic problems confronting us. We will turn the next Annual Meeting into a comprehensive workshop to establish signposts for the new era. Peace and security for everybody, dialogue between cultures, bridging the economic and education divides, and relaunching the world economy are among the key themes to be addressed. As in years past, we will bring together world leaders from all walks of life and ask them to work together, in partnership. But given the enormity of the challenges we face, we will ask them to engage more deeply in the difficult task of finding solutions to these urgent problems. In our view, the Annual Meeting 2002 could well be the most important Forum gathering in our history. The data included in this document shows that the Forum has succeeded in managing its finances prudently and efficiently, and that we have made substantial progress in transforming the foundation into a more action-oriented and outcomes-oriented institution. But it is clear that the real tests lie ahead of us. All of us as individuals, and the Forum as an institution, must show leadership and courage in meeting the challenges we now face. History will judge us by what we do today, and tomorrow, to help to put the pieces of our world together again. The World Economic Forum remains committed to its mission – “Business and society in partnership to improve the state of the world” – and will do its part to meet these formidable challenges.


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Key Figures in Swiss Francs







Total income out of which, members’ fees

42,074,397 16,047,893

51,890,452 18,761,000

51,306'002 20,915,531

61,100,642 22,106,920

63,806,052 23,588,125

Total expenditure including R&D and investments






Surplus to be added to the Foundation capital






Foundation capital







Full time Part time

59 21

73 26

68 24

81 22

125 22

In order to support the Forum’s widening role, the Forum invested particularly in human resources in 2000/2001, and this was reflected in an increase of 30.08% to personnel costs.


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Annual Meeting 2001 in Davos
The Annual Meeting 2001 was convened on the theme, “Sustaining Growth and Bridging the Divides: A Framework for Our Global Future.” Sessions and workshops examined in depth the divisions between rich and poor, between those who have adequate medical care and those who do not, between the “e-ready” and the technologically deprived, and between those who receive a basic education and those who are consigned to lives of ignorance. The Annual Meeting recognized the need for cooperation among business, government and other relevant voices of civil society on issues such as the problems created or exacerbated by the cumulative impact of globalization and the IT revolution. The discussions in Davos provided new input and impetus for initiatives previously launched by the World Economic Forum – such as the Global Digital Divide Initiative concerning access to Internet and digital facilities. It created the basis for new initiatives that are being undertaken in 2001 and will be assessed for their outcome at the Annual Meeting 2002. At the Annual Meeting 2001, World Economic Forum members launched the Global Health Initiative to engage the international business community more closely and systematically in the fight against diseases that cause poverty, particularly malaria, tuberculosis, HIV and childhood illnesses. The World Health Organization, along with other international organizations, NGOs and representatives from developed and developing countries are cooperating on this new initiative. UN Secretary-General Kofi Annan returned to Davos to encourage business leaders to participate in the UN’s Global Compact which was introduced at the Annual Meeting 1999. Annan announced the appointment of Goran Lindahl, former CEO of ABB Switzerland, to lead moves to obtain the support of 1,000 companies. The compact aims to build social infrastructure through corporate support of nine principles in the areas of human rights, labour standards and the environment. For the first time in Davos, four African heads of state assembled in the plenary hall to present a recovery plan for the continent, providing common guidelines for tackling economic, political and social challenges. South African President Thabo Mbeki, Nigerian President Olusegun Obasanjo, Senegalese President Abdoulaye Wade and Tanzanian President Benjamin


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Mkapa pledged their support to a recovery programme that would promote investment in viable infrastructure and business opportunities in Africa. In another historic first, Vojislav Kostunica, newly elected as President of the Federal Republic of Yugoslavia, joined Albanian President Rexhep Meidani, Bulgarian President Petar Stoyanov, Croatian President Stjepan Mesic, Macedonian President Boris Trajkovski, and Slovenian Prime Minister Janez Drnovsek to discuss the future path toward reconciliation and reconstruction in the Balkans. The Annual Meeting 2001 was organized to afford participants more intense discussion, deeper involvement and a higher quality interaction than in years past. New formats were introduced, such as the Socratic Dialogue, the IdeasLab Workshops and the outcome-oriented World Economic Brainstorming. These gave greater opportunity for airing new ideas, conducting dialogues and voting on new initiatives. Participants said the new insights and priorities that they generated provided significant value to them personally and to their respective institutions. These innovations are moving the World Economic Forum beyond its traditional role as convener to a new, broader role as catalyst for progress. The Annual Meeting 2001 was further evidence of the Forum’s role as a multi-stakeholder platform for discussion, debate and action on the key items on the global agenda.


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New Governance Structure
Greater Stakeholder Engagement In order to develop as a unique and enduring institution for the 21st century, the World Economic Forum has adapted its governance system to ensure that, while the business community continues to play a critical role, the Forum also integrates the other stakeholders in world society in its activities. With this more inclusive approach, the Forum opens the way for a very broad range of participants in the global economy to join in identifying and addressing the issues on the global agenda. The building blocks for this system of governance and stakeholder integration are: • the Foundation Board and the Managing Board, which have responsibility for the executive oversight and management of the Forum's work, respectively • the Global Business Council, which engages global business leaders as a driving force into the activities and initiatives of the World Economic Forum • the new Forum Councils, which establish a structured process of inclusion of the other key stakeholders. The New Forum Councils The following Councils are being established to integrate the various groups of major stakeholders in the world economy: • • • • • • • • The Academic Council* The Business Organizations Council* The Global Unions Council* The Governmental Representatives Council* The International Organizations Council The Mayors Council* The Non-Governmental Organizations Council The Religious Leaders Council*

* already established or in the process of being finalized By creating the Forum Councils, the Forum takes a new step in its commitment to providing a nonpartisan, multi-stakeholder platform for debate, and to its mission of improving the state of the world. The Councils will be integrated into the World Economic Forum on the basis of constructive partnership and mutual respect and trust.


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Centre for the Global Agenda
The Centre for the Global Agenda (CGA) monitors and analyses global issues to provide programme content for the Forum's Annual, regional, country and industry meetings. It stimulates thinking and dialogue by organizing task forces and other initiatives involving different regions, intellectual disciplines and stakeholders in the world economy. These initiatives seek to expand common ground, develop new approaches, or mobilize additional effort. The CGA also manages the Forum's engagement with constituencies, including the academic and scientific communities, business trade associations and organizations, international organizations, labour leaders, non-governmental organizations, religious leaders, Technology Pioneers and Global Leaders for Tomorrow. Global Digital Divide Task Force In July 2000, the Global Digital Divide Initiative submitted its statement of shared principles to the G-8 Kyushu-Okinawa Summit. Key elements of this document were incorporated in the final G-8 communiqué, leading to the creation of the G-8 Digital Opportunities Force. At the Annual Meeting 2001, the Forum Governors of the IT, Telecom, Media and Entertainment industries mandated the following co-chairs to lead the task force: Joao Roberto Marinho, Co-Chairman, Organizaçoes Globo, Brazil, Jean-Marie Messier, Chairman and Chief Executive Officer, Vivendi Universal, France, and Maureen O'Neil, President, International Research and Development Centre, Canada. In the first part of 2001, the Global Digital Divide Task Force focused its efforts on implementing programmes in education, entrepreneurship and policies. Global Health Initiative Following up discussions at the Annual Meeting 2001 in Davos, World Economic Forum members launched an initiative to engage international corporations more closely and systematically in the fight against infectious diseases in poor countries, in particular HIV/AIDS, tuberculosis and malaria. The Initiative is being undertaken in partnership with the World Health Organization and UNAIDS, as well as representatives of developing and developed countries, NGOs and other experts. It promotes the application of good work force and community health practices; partnerships to improve prevention, treatment and care; corporate philanthropy; and the private sector's advocacy of global public health issues.


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Global Governance Initiative The World Economic Forum launched a Global Governance Initiative to monitor progress on key global goals involving cooperation among governments, intergovernmental organizations and non-state actors. The goals concern poverty reduction, disease, human rights, armed conflict and environmental degradation. In coming months it will issue reports spotlighting the gap between the vast scale of global problems and the inadequate mechanisms available to deal with them. Multilateral Trade Initiative At the Annual Meeting 2001, three former directorgenerals of GATT and the WTO (Arthur Dunkel, Peter Sutherland and Renato Ruggiero) issued a joint statement calling on political and business leaders to continue building an effective multilateral trading system. The World Economic Forum created a working group to improve mutual understanding and expand common ground among developed countries, developing countries, civil society and business on trade issues. Informal Dialogue Initiative In 2000-2001, the World Economic Forum created an Informal Dialogue Initiative to foster better understanding and cooperation between major global companies and some of the most influential NGOs. The Forum facilitated discussions in Geneva, Davos, Mexico City, Buenos Aires and Durban. Global Leaders for Tomorrow (GLTs) The GLTs represent an important and unique community of young entrepreneurial leaders who have a demonstrated capacity to shape future agendas in their communities and countries as well as in the world at large. Drawn from the ranks of business, government, civil society and media, they work with the Forum to identify and address global issues of the future. In 2000-2001, the young leaders took part in the annual GLT Summit, the Annual Meeting 2001 and several regional meetings. Technology Pioneers The World Economic Forum refined its process of identifying Technology Pioneers – chief executives that are developing and applying the most innovative and transformational technologies. An external review committee of technology experts evaluated nominations for entrepreneurs harnessing technologies to find new vaccines, create economic growth and enhance global communication. They include entrepreneurs in IT, biotechnology and energy.
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Centre for Global Industries
The Centre for Global Industries (CGI) handles relations with the Forum’s members drawn from the world’s 1,000 foremost global corporations. Membership criteria are highly selective and forwardlooking to ensure that those chosen truly represent the evolving global economy and are committed to the mission of the World Economic Forum. Members must represent the top companies within their industry and/or country, play a leading role in shaping the future of their industry and/or region, engage in activities with a global dimension, and be healthy in terms of growth and reputation. To enable the Forum to develop expertise and special relationships with its members, the CGI is divided into five broad Industry Groupings: Basic Industries, Communications and Technology, Consumer and Health, Financial Services and Mobility Industries. The CGI selects members, develops understanding of the challenges facing each sector and identifies specific industry issues. The CGI also provides the leaders of the various industries with a framework to draw up responses to the challenges, in collaboration with other constituencies. This is accomplished through the Forum’s Governors Groups, numerous member events and several task forces and initiatives organized in liaison with the Centre for the Global Agenda and the Centre for Regional Strategies. The Governors Groups provide an opportunity for industry leaders to discuss informally among themselves strategic responses to challenges and opportunities facing their sectors. Currently, there are 14 Industry Governors Groups, which typically convene during the Annual Meeting and pursue an agenda thereafter. The CGI continues to act as a catalyst to coordinate and support global and industry specific initiatives, launched in the context of the Forum+ strategy, which aims to develop a more proactive approach to global issues: • The Global Digital Divide Initiative, launched at the Annual Meeting 2000 by chief executives in the Communications and Technology, and Media and Entertainment sectors, is now in its second year. It aims to spread access to Internet and digital technologies more widely throughout the world. It focuses on education, entrepreneurship and policies/strategies. • The Agricultural Trade Task Force brings together agricultural producers, food and beverage companies, international organizations, NGOs and experts on agricultural trade and alleviation of


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poverty in the developing world. The Task Force, which has met several times over the past year, is making recommendations on equitable agricultural trade reform, as well as on the investment and capacity-building needed for developing countries to ensure secure supplies of food and share in the benefits of a more open food trade system. • Chief executives from the Automobile industry have formed the Global Automotive Climate Change Forum (GACCF) to promote intra-industry dialogue on the subject. The GACCF aims to identify stateof-the-art climate change knowledge, circulate it among participating companies, and share perspectives on the roles and responsibilities of the industry. • The Pension Task Force, launched by chief executives from the Financial Services sector, is creating a pension readiness "scorecard" for OECD countries. This Task Force will bring leaders of the Financial Services industry together with other interested stakeholders, i.e. NGOs, educational institutions and government agencies. The outcome will shed light on the relative strengths and weaknesses of OECD countries, and act as a catalyst for change. • In light of the tragic earthquake in India that occurred during the week of the Annual Meeting 2001, Governors representing the Engineering and Construction, and Logistics and Transportation sectors determined that business and industry should do more to help victims of natural disasters. They called upon the World Economic Forum to create a “Disaster Relief Network” that would help organize industry efforts. After meeting with experts in the field and representatives of member companies, the Forum drafted a proposal and created a committee to prepare an initiative. The World Economic Forum’s Disaster Relief Network is set to be launched at the Annual Meeting 2002. The Forum’s strategic partner companies have played an increasingly significant role in the Forum’s initiatives and events. Partners represent the key industries and regions of the world, and contribute specialized knowledge and resources to support the Forum's mission. Several important companies have joined the Forum as strategic partners over the last year.


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Centre for Regional Strategies
The Centre for Regional Strategies (CRS) allow our members and constituents to share first-hand information and insights on key trends and developments affecting a region with all the stakeholders in global society. In addition, at our Summits and Meetings around the world participants become involved in the task forces and initiatives of the World Economic Forum; Summit teams work closely with the Centre for the Global Agenda and the Centre for Global Industries on these important issues. Global Leaders for Tomorrow and Technology Pioneers also take part in regional activities, meeting privately on the occasion of a meeting and taking an active role in the meeting programmes. During the 2000/2001 fiscal year a number of Summits and Meetings were held and contributed significantly to achieving the Forum's mission of improving the state of the world. The Asia Pacific Economic Summit 2000 will be remembered as the Summit that several thousand anti-globalization protesters tried – and failed – to shut down. The turmoil outside the meeting venue only focused minds inside and spurred those taking part in the interactive sessions to deeper and more thoughtful participation. After all, many of the social issues being pressed by the protesters were in fact on the meeting agenda or were raised during vigorous discussions. NGO representatives willing to engage in constructive dialogue, including the head of the Australian Council of Trade Unions (ACTU) mixed easily with the CEOs, academics and senior ministers. It was not surprising then that a major highlight of the Summit was the plenary session on the impact of globalization on the region. A neatly balanced panel in true Forum tradition included Moderator Minoru Murofushi, Chairman of Japan’s Itochu Corporation, and Thomas Russo, Vice-Chairman of US investment house Lehman Brothers, representing the business sector, while Singapore’s young Minister of State for Defence and for Information and the Arts, David Lim Tik En, and Japanese Ministry of International Trade and Industry official Tatsuya Ito provided the government view. Rounding out the panel were Vandana Shiva, Director of the Research Foundation of Science, Technology and Natural Research Policy in India and an outspoken advocate for developing countries, and ACTU President Sharan Burrow, as


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eloquent a spokesperson for workers as anybody in Australia. Once again, the India Economic Summit 2000, held in partnership with the Confederation of Indian Industry, was the year’s most outstanding reunion of Indian and foreign decision-makers. Social issues were high on the agenda for the first time at the Summit. Many sessions were devoted to issues of crucial importance if India is to improve the life of the poor. Education, AIDS, corruption, empowerment of women and business/government/civil society partnership were discussed with experts and representatives of non-governmental organizations. Summit participants made many suggestions and proposals to address these issues. With the victory of Vicente Fox in Mexico's presidential election in July 2000, the Mexico Meeting 2001 in Cancun was designed to promote interactive dialogue between the new administration and leaders from the business community, international organizations, academia and civil society. Leaders of civil society organizations were welcomed to participate in the Meeting and presented an important manifesto promoting further integration and collaboration with the Forum. The Meeting also gave Vice-President Carlos Quintanilla Schmidt of El Salvador a chance to express to the Mexican and international business communities his country's vital need for support to rebuild El Salvador following the two devastating earthquakes. The World Economic Forum was encouraged to commit to another Mexico Meeting which will take place in 2003. Just 11 weeks into a new US administration, it is perhaps no great surprise that the USA Meeting 2001 paid more than passing attention to the politics – and policies – of America’s new president, George W. Bush. However, panellists and participants examined, analysed and debated in addition a long list of critical issues, ranging from policing the cyberworld to the rapid evolution of the global financial markets and the perils facing the multilateral trade system. The domestic and international challenges facing the Bush administration were discussed at length and in great detail, both by veteran observers of the Washington scene and by key officials who will shape the administration’s policies, such as Secretary of State Colin Powell and Lawrence Lindsey, the president’s top economic adviser. In keeping with the World Economic Forum’s long tradition, this year’s meeting put a premium on interaction, allowing both
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session panellists and participants to engage in a freewheeling exchange of information and opinion. This was an affirmation of the Foundation’s core mission. “Our goal,” Klaus Schwab told participants at the meeting’s opening, “is to create a community of business and government leaders, in order to improve the state of the world.” The World Economic Forum’s China Business Summit 2001 marked the 20th year this important annual meeting has been held. The Summit has now grown to encompass the concerns of both foreign and domestic parties who are active in China and wish to discuss, network and question. While many of the themes, such as SOE reform or bank restructuring, reappear from year to year, certainly the nature of the discussion has continued to push further outward and the frankness with which issues and problems are addressed has grown. Also, one must note the clear enthusiasm and inquisitiveness of Chinese business people and entrepreneurs to participate in discussions not only about their own companies but also about the larger questions facing the nation. Our seventh Mercosur Economic Summit 2001 provided a timely opportunity to confront issues such as economic downturn in Argentina and other Latin American countries and the challenges imposed by the goal of 2005 for a Free Trade Area of the Americas (FTAA). Ongoing projects of the World Economic Forum such as the Environmental Sustainability Index and Corporate Governance Initiative were also on the agenda. Emphasis was placed on social development. Many innovative projects in the region were presented demonstrating the positive impact of information technology on education. As a follow-up to the Global Digital Divide Initiative launched in Davos in 2000, several private and public sessions focused on best practices to transform the digital divide into a digital opportunity. Many examples showcased the wider spread of social entrepreneurship. It was also recognized that a partnership between government, business and civil society was essential to reduce the social gap. The Forum’s new approach of “less is more” was met enthusiastically by the 900 participants at the Southern Africa Economic Summit 2001. Representatives of diverse industry sectors and interest groups addressed the challenges of the health and digital divides. Workshops and small working groups combining representatives of governments, business and civil society examined how to improve coordination to yield faster results. The Forum was the stage of an unprecedented event,
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namely the shared address by Simba H. S. Makoni, Zimbabwe’s Minister of Finance and Economic Development, and opposition leader Morgan Tsvangirai, President of the Movement for Democratic Change (MDC). “Team Zimbabwe” was created in Davos at our Annual Meeting and followed up in Durban. Under the impetus of the Forum and Zimbabwean business leaders, "Team Zimbabwe" seeks to show that a common will exists to deal with the country’s crisis, and looks for the international community’s support for Zimbabwean citizens and responsible leaders. Finally, the exercise of identifying the strengths and weaknesses of South and Southern Africa as seen from various geographical standpoints provided the region’s leadership with a useful checklist of priorities which must be addressed urgently to convert the sceptics into friends of Africa. We are particularly pleased that the Forum received an invitation from the heads of state to prepare and present a report on the key messages and conclusions of our work in Durban at the Southern African Development Community Summit in Malawi.


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Resources and Knowledge Management
This year was marked by a major overhaul of the World Economic Forum’s entire operational and administrative infrastructure. This effort was important to support the significant growth of the Forum’s staff and activities over the past years. During the year we have: • revisited our finance system to allow for activity based accounting and full activity attributed personal costs • introduced processes for all aspects of the operational management to further enhance our cost efficiency and quality support for the Forum’s activities • introduced a management by objectives system to be able to have an annual performance review with all members of the staff • introduced an associate programme to allow young professionals to have their first experiences with the Forum leading possibly to a Forum career • further improved the IT management and the technology support for the organization. One of the results of the overhaul was the extremely smooth operation of the Annual Meeting 2001. We introduced a leading-edge, interactive service called the Davos Companion for use by participants. Providing information and communications on a handheld device, it was created with the support of some of our strategic partners, demonstrating the Forum's ability to convene partnerships to produce state-ofthe-art products. We also launched a new interactive website for the Annual Meeting 2001, in line with our Forum+ strategy pursuing a more inclusive and proactive approach to issues.

The major communication issue during the past year was the ongoing challenge from anti-globalization protesters. Demonstrators appeared at the Annual Meeting 2001 and at Regional Summits and Meetings in Melbourne, Cancun, Buenos Aires and Salzburg. While the demonstrations did not actually interfere with the Forum's meetings, they risked distracting attention from the content of our events. Among the media attracted by the demonstrations, we successfully took the opportunity to stimulate new awareness of the Forum and the value it provides to society. Through op-eds, interviews with key reporters and editorial board briefings, we were able to pass our messages to key audiences around the world.


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The Forum enlarged its "media targets" to include the mainstream press rather than just business media. We invited a larger number of reporters and editors from popular newspapers and broadcasting companies to Forum events. (And even more will be invited to the Annual Meeting 2002.) We launched a successful monthly in-house newspaper for Forum employees entitled WeForum News to keep them up to date on institutional developments.


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Strategic Partners of the World Economic Forum
Strategic Partners are select member companies of the Foundation who strongly support the Forum's commitment to improving the state of the world. They are actively involved in the Foundation’s endeavours at the global, regional and industry levels. They contribute their expertise and resources at the highest level in order to advance worldwide economic and social progress. ABB Accel Partners Accenture Andersen Arthur D. Little Ascom A.T. Kearney Audi Barco The Boeing Company Booz, Allen & Hamilton BP Cisco Systems The Coca-Cola Company Compaq Computer Corporation Deloitte Touche Tohmatsu DHL Worldwide Express Ernst & Young General Atlantic Partners Goldman Sachs Heidrick & Struggles IBM Investcorp Korn/Ferry International KPMG McKinsey Merck Merrill Lynch Microsoft Corp. NagraCard / Kudelski Group PricewaterhouseCoopers Reuters J. & W. Seligman & Co. Siemens Suez Sun Microsystems UBS Vivendi Universal Volkswagen

As of 22 November 2001


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