Dear Alumni and Friends,
In this issue of State of Business, you will read
about Executive Leaders, a comprehensive
approach to executive leadership development
being instituted by the Robinson College
and Moscow State University to address
Russia’s need for high-level executive talent.
Little did any of us realize that one day a marketbased
Russian economy would be so vibrant
that such a program would be necessary.
I first went to Russia in 1974 as a graduate
student. It was the era of Communism and
the Cold War. I didn’t return until the early
’90s when a colleague and I wrote to the
United Nations requesting the opportunity
to work with Moscow State on a project
related to financial reporting. Much to our
surprise, the project was approved and we
were on our way. The country was changing
dramatically. The Soviet Union was about
to fall apart, Boris Yeltsin would take over
from Mikhail Gorbachev, and the era of
modernization had begun. But it was very
noticeable that the transition to a market
economy was not coming easily. Prices soared.
Food was rationed. Oligarchs took control of
much of industry. Chaos seemed the order
of the day.
When Vladimir Putin came to power, the
country began to stabilize. Russia today reminds
me very much of China. It is a huge country,
dominated by big cities and possessing a
rapidly growing middle class.
A few weeks ago Neville Isdell, chairman and
CEO of The Coca-Cola Company, spoke to
the Southern Center for International Studies
in Atlanta. His topic, titled “Quo Vadis Russia:
A Business Perspective,” addressed some
of the country’s major challenges and
opportunities. Chief among them is changing
the perception of Russia as a good place to
do business. Those companies working in
Russia, he says, understand what a good
place it has become. He and Coca-Cola are
bullish on Russia. He believes business “is
a powerful change agent” for the country,
as we believe Executive Leaders will be a
powerful change agent for business.
We hope you enjoy our look at Russia’s newly
revitalized economy, the Executive Leaders
program, our feature on the 2008 Olympic
Summer Games, and our interview with
alumnus Frank Blount, among other stories
in this issue.
H. Fenwick Huss
Dean
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