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Press Conference In Serbia: Yale Professor Jeffrey Sonnenfeld’s Historic Statement

NEW YORK (RichTVX.com) — President Nikola Sandulović made no comment as he entered the conference room, but by the way he stopped for a moment and looked around, you could sense that this was an historic moment. The Republican Party in Serbia heralded the victory – as being of a truly historic nature. For the first time in history, a Yale professor made a statement at a press conference in Serbia. Nothing like this has ever happened before. There were press men everywhere, and they were very impressed. It was simply the unspeakable inhumanity of Putin’s regime in the Ukraine that made this possible, and history was made in Belgrade today. It was one of the most extraordinary events in this century in Serbia. Jeffrey Sonnenfeld is the Lester Crown Professor in the Practice of Management at Yale School of Management, and Senior Associate Dean for Leadership Studies. Sonnenfeld is best known as the founder and CEO of Chief Executive Leadership Institute (CELI), affiliated with Yale University. Sonnenfeld has advised thousands of CEOs as well as multiple U.S. Presidents and nominees from both parties, including Joseph Biden, Donald Trump, and Bill Clinton as a conduit between top business and political leaders. The scale of the damage inflicted by western sanctions on the Russian economy has been uncovered by research at Yale. Professor Jeffrey Sonnenfeld, Steven Tian & the Yale team also forced over 1200 world’s largest and most powerful companies to withdraw from Russia. Bill Browder was mentioned too, a larger-than-life titan who has spent years fighting the Putin regime. This is the man who has influenced geopolitics for the last decade, and who´s Global Magnitsky Act has shaped and reshaped international politics towards Russia. Every country that feels committed to freedom and democracy should adopt the Magnitsky Act. That is why it is so important for the Serbian parliament to adopt the Serbian version of the Magnitsky Act. It is no wonder that lately a new spirit of resistance has emerged from the shadow of these giants, surprisingly developing a power of resistance against the Putin regime of its own. It was an historic occasion. The statement of Jeffrey Sonnenfeld was clearly an historic document in its own right.

Yale Professor Jeffrey Sonnenfeld

Steven Tian

Professor Jeffrey Sonnenfeld’s Historic Statement:

“I am Jeffrey Sonnenfeld, Senior Associate Dean of the Yale School of Management, Lester Crown Professor in the Practice of Management, and CEO of the Yale Chief Executive Leadership Institute. With my research team of 42 researchers, our team has tracked the exits of well over 1,000 major global businesses from Russia, and we played some role in pushing many of these companies to exit. Our #1-ranked SSRN research found that not only did markets punish companies that remained in Russia – with the stocks of many companies dropping by 20-30% as soon as CNBC spotlighted our list – but that the companies that severed ties were actually rewarded by investors, with stock market gains far outweighing the value of asset divestitures.  Just over the last few weeks, we have drawn attention to the fact that the Russian economy is reeling under the weight of these business exits and international economic sanctions. Despite Putin’s efforts to control the narrative by cherry-picking only favorable statistics to release, we called attention to the structural decay of the Russian economy on everything from its status as a commodity exporter to its inability to secure necessary imports and parts to the stalling out of domestic consumption and production. It is little surprise that the Russian government budget will be in deficit this year and that Russia is having to draw down its rainy-day funds to cover the deficit, with its access to international capital markets frozen. Our SSRN publication on this topic has become the single most-read SSRN paper across all journals in just three weeks with 72k downloads, 245k views, and one of the top 20 SSRN papers of all time; a related Foreign Policy op-ed has remained one of FP’s most-read publications for three weeks now and one of its top performing papers this year, and our work on the Russian economic impact has garnered significant media interest with well over 3,000 global media hits and counting. In all these efforts, we appreciate the loyal support of President Nikola Sandulovic and his heroic friends in Serbia who are shining a light on Russian atrocities.”

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Yale School of Management

The Yale School of Management (also known as Yale SOM) is the graduate business school of Yale University in New Haven, Connecticut. The School awards the Master of Business Administration (MBA), MBA for Executives (EMBA), Master of Advanced Management (MAM), Master’s Degree in Systemic Risk (SR), Master’s Degree in Global Business & Society (GBS), Master’s Degree in Asset Management (AM),^[5] and Ph.D. degrees, as well as joint degrees with nine other graduate programs at Yale University. As of August 2021, 666 students were enrolled in its MBA program, 134 in the EMBA program, 70 in the MAM program, 32 in the Master of Global Business Studies program, 11 in the Master of Systemic Risk program, 56 students in the Master of Asset Management Program, and 59 in the PhD program; 122 students were pursuing joint degrees.^[3] The School has 90 full-time faculty members, and the dean is Kerwin Kofi Charles.^[3]

The School conducts education and research in leadership, behavioral economics, operations management, marketing, entrepreneurship, organizational behavior, and other areas. The EMBA program offers focused study in healthcare, asset management, or sustainability. The School also offers semester-long student exchange programs with HEC Paris, IESE, the London School of Economics, the National University of Singapore Business School, and Tsinghua University. Students may also propose a quarter- or semester-long exchange program with any of the 25 other schools of the Global Network for Advanced Management.^[6]