The MBA Class of 2025 marked the end of a transformative year – one defined by deep reflection, strong bonds, and collective growth. Over the past 11 months, they challenged each other to excel, forged meaningful connections, and learned how to channel their values into lasting impact.
Leading through uncertainty
With leaders facing overlapping disruptions – from a new geopolitical order to the rise of AI agents and the emergence of Gen Z in the workforce – IMD President David Bach, Nestlé Professor of Strategy and Political Economy, stressed the importance of showing up for others, and providing a sense of direction – even if you are not entirely sure how to get there.
“Members of the Class of 2025, as you graduate today, my hope – my wish for you and for us – is that you be the generation of leaders who meet uncertainty not with fear, but with curiosity and courage; who create teams and organizations that adapt; who build lives that evolve; who embrace nonlinearity; and who provide clarity and a sense of direction even when – and especially when – there is no certainty and the path is unclear.”
Celebrating character and community
While Bach focused on the qualities needed to lead through extreme uncertainty, Omar Toulan, Dean of the MBA and Hilti Chair, praised the character and camaraderie that define this cohort. He highlighted their unwavering support for one another, most visibly during this year’s MBAT – dubbed the “MBA Olympics” in Paris – where they earned six medals, including the coveted Best Cheering Award.
“Your positive attitude, your empathy, your diligence, your respect for the IMD brand, and most of all your upstanding character have been a true inspiration for me, and everyone who has had the fortune of interacting with you,” Toulan said. “I feel incredibly fortunate to have you as my final IMD MBA cohort.”
As the graduates prepare for their next challenge, Toulan expressed confidence in their readiness to lead with integrity and create impact in the wider world.
The centrality of relationships
Keynote speaker Parminder Kohli (MBA 2001) emphasized that his success in both work and life has always come down to relationships: with himself, his family, his colleagues and friends, and the wider community.
“Think of relationships like a savings account – you build them steadily and draw from them sparingly. But too many people treat relationships as a current account – purely transactional,” said Kohli, who is Chair at Shell UK Ltd and Shell Group Executive Vice President Sustainability and Carbon.
As the graduates prepare the enter the real world and make real impact, Kohli reminded them to prioritize their relationships with their parents, spouses, children, and communities and, most importantly, “to be the best version of yourself.”
A cohort built to endure
Class speaker Alfonso Martinez, who became a father shortly before arriving in Lausanne, echoed these sentiments. He reflected on how the program not only equipped the graduates with tools for their future careers but also gave them something even more powerful: a support system.
“The MBA is not a bubble; it’s a support system. A bubble is fragile. There is nothing fragile about what we built this year. We forged a mindset. We built a community. And we set the foundations for future impact,” Martinez said.
He acknowledged the grief of saying goodbye to the MBA experience and saying hello to a new life, but noted they had the skills and relationships to navigate change.
“We have the mindset, we have this toolkit, we have the skillset – but most importantly, we have each other. Now is our time to look ahead, to follow our dreams, to make this world a better place.”
