'Exhilarating, edifying, challenging', celebrating 20 years of Oxford's Executive MBA with our incredible alumni

Mon, 12 February 2024

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It has been 20 years since the first Executive MBA (EMBA) class walked into Saïd Business School at the University of Oxford.

Though much has changed in that time, our EMBA continues to be a global leader in its field. It is currently ranked fifth in the world by the Financial Times, and first for 'aims achieved' by students.

From the inaugural class of 2004, to the ‘Best and Brightest’ of last year, our students have consistently excelled in their chosen fields. So to mark this important anniversary, we caught up with two of our inspiring EMBA alumni who bookend twenty years of impact. Mark Carmichael is an internationally renowned mergers and acquisitions advisor from the first class of 2004, and Eleanor Hevey, from last year's 2023 class, leads strategy, global policy engagement, communications and external relations for the Centre for Disaster Protection. Both spoke to us about their time at Oxford Saïd, and how it provided them with the tools and knowledge to help achieve their dreams.

Mark Carmichael:

How did the EMBA alter or develop your own perspective?

Mark: The EMBA profoundly shaped my perspective. Immersing myself in an international, diverse cohort of bright, driven individuals showed me how varying backgrounds and experiences mould one's character and capabilities. It was fascinating to engage with multiple valid yet diverse viewpoints on the same issue, resulting in valuable lessons learned. Engaging in debates during lectures, both with professors and peers, not only enriched my knowledge but also pushed me to re-evaluate some of my own beliefs. I also gathered valuable insights on achieving a healthy work-life-EMBA balance and adopted new strategies for personal effectiveness, making the EMBA experience truly transformative.

20 years on, how did the EMBA enable you to pursue your ambitions?

The Executive MBA proved instrumental in advancing my ambitions over the past two decades. Beyond the further development of critical business skills, it instilled profound confidence and created a lifelong and powerful connection with the influential Oxford Saïd brand. I found the EMBA’s networking opportunities and enduring friendships have enriched my professional journey. Personal interactions with the professors most definitely offered invaluable wisdom and guidance. Add in the “Oxford experience", and even 20 years after the fact, I view my decision to pursue the EMBA as one of the most insightful and impactful choices of my life.

The EMBA profoundly shaped my perspective. Immersing myself in an international, diverse cohort of bright, driven individuals showed me how varying backgrounds and experiences mould one's character and capabilities.

Mark Carmichael

First EMBA Cohort, 2004

Which themes and elements of the programme are still as relevant today as they were in 2004?

20 years on, certain themes and elements of the EMBA have certainly retained their relevance. The emphasis on critical thinking, strategic analysis, leadership, and decision-making remains as vital today as it was in 2004. The programme's commitment to fostering adaptability and innovation continues to be indispensable in an ever-changing corporate landscape. Moreover, the lasting relationships created with diverse and accomplished peers during the EMBA to this day, serve as an invaluable resource for knowledge exchange and collaborative problem-solving.

What's the best thing about your job, and what advice would you give to an MBA or EMBA interested in a career in MA?

My career's most rewarding aspect is its rich diversity. Engaging with businesses across sectors and geographies, I continuously learn and tackle unique challenges. Guiding founders and CEOs toward their optimal exit, a pivotal moment in their entrepreneurial journey, brings immense satisfaction. Over two decades, I've identified the principles and strategies underpinning successful exits, filling a gap in sell-side M&A. Developing a more effective exit strategy and educating business owners about pre-exit essentials remain paramount. To aspiring MBA or EMBA candidates interested in sell-side M&A, I advise gaining a deep understanding of the seller's journey and offering a service that defies industry norms, as many aspects of sell-side M&A fall short, necessitating a change for the better.

Eleanor Hevey:

How did the EMBA alter or develop your own perspective?

Eleanor: The EMBA has absolutely changed my outlook. It has empowered me with the confidence to take bolder career risks and feel better equipped to take informed decisions, be more creative and challenging in my approach and bring fresh energy to my team and work. The greatest impact has been the chance to learn from an incredible cohort and community of peers – leaders from such a diverse range of professional and cultural backgrounds from across the globe. This has really challenged me to consider switching my perspective, integrate my assumptions and biases and be more self-reflective. Learning from leading-edge insights from other sectors and professional disciplines and from the expert faculty has been invaluable and provided me with a whole new toolkit.

How did the EMBA help to drive your own social impact and sustainability objectives?

I have dedicated the past 16 years of my career to addressing the most pressing global sustainability and social impact challenges. The EMBA provides me with the grounding in the business fundamentals and in leadership to take the next step in driving change within the purpose-driven sector to be improve effectiveness and to better foster partnerships with the private sector and bring entrepreneurial approaches to drive impact.

My EMBA experience in four words? Exhilarating, edifying, intellectually challenging

Eleanor Hevey

MBA Class 2023

What was the most important thing that you learnt during your EMBA?

That lifelong learning is a journey, to lean-in to learning from others and stay intellectually open and curious to new ideas and new possibilities!

Where have you seen the most progress for women in business and what more needs to be done?

It’s great to see more women leaders and emerging women leaders working in senior and C-Suite roles in the climate policy space in which I work. But there’s much more to be done to fully recognise and address the gender pay gap and the disproportionate burden of caring responsibilities outside work that women are more likely to take on. Flexibility in roles and approach is key – but can also serve to hold women back in assuming the fix is to work part-time, which again contributes to the pay gap. I work to champion the women I manage in my own team to have the flexibility to fit in their commitments or return to study for higher degrees and further professional qualifications, without compromising on a full-time salary. More also needs to be done to acknowledge other aspects of diversity, equality and inclusion and ensure progress is more equitable.