Soros-founded business school exits Romanian market

CEU Business School will close its subsidiary of Romania, where it offered an Executive MBA (EMBA) programme, in the wake of a strategic reorientation decision made by the management of Central European University (CEU) the business school is part of. CEU Business School is part of Central European University and is headquartered in Budapest, being one of the oldest and most prestigious business schools of Central and South-eastern Europe, founded in the '90s by a group of businesspersons including George Soros. The 78-year old billionaire has a fortune put at $11bn and has invested around 420m euros in education in the past 20 years, the biggest private donation ever made to a European university, according to some estimates. The institution had offered EMBA programmes in Romania since 2006. "One of the conclusions of recent months' assessments is that operations outside the campus, such as the Bucharest ones, are no longer compatible with CEU's new strategy. Therefore, the programme will end when students registered at present finalise their studies," says Oliver Olson, a country manager for Romania with CEU Business School.