Committees

Dr. Sandra Dembeck is CFO of Tengelmann Twenty-One KG and chair of TAK Advisory.

She started her career in 1999 at McKinsey & Company where she spent 6 years first in Europe and later relocated to Hong Kong. In 2005 she joined C&A to start up their retail business in China followed by various CFO roles for C&A in Europe.

She joined Kingfisher Plc in 2014, first as CFO B&Q China before relocating to the UK to become CFO B&Q UK & Ireland. In 2018 she was appointed Deputy Group CFO for Kingfisher Plc. In April 2020, at the start of the Covid pandemic, she joined the world’s largest caterer Compass Group Plc as Group Corporate Finance Director. From March 2022 until recently, Sandra was the CFO of Zalando SE. Since April 2025, she has been the CFO of Tengelmann Twenty-One. 

Sandra graduated in Business Administration from the University of Passau and holds a doctorate from the University of Konstanz.

Nitin Nohria is the George F. Baker Jr. and Distinguished Service University Professor at Harvard Business School. He previously served as the school’s tenth dean from 2010-2020. His intellectual interests center on leadership and corporate performance. He is the co-author of 16 books and over 100 articles and cases.

He serves as the Executive Chairman of Thrive Capital (a NYC venture capital firm) and sits on the Board of Directors of Anheuser-Busch InBev, Alsym, Bridgespan, Massachusetts General Brigham, and Rakuten Medical.

Before joining the Harvard Business School faculty, Nohria received his Ph.D. (1988) from the Sloan School of Management, Massachusetts Institute of Technology, and a B. Tech. (1984) in Chemical Engineering from the Indian Institute of Technology, Bombay (which honored him as a Distinguished Alumnus in 2007).

Ms PNG Chin Yee is the Chief Financial Officer of Temasek, the investment company headquartered in Singapore. Her prior roles in Temasek include Head Financial Services, Senior Managing Director, China, and Senior Managing Director Portfolio, Strategy and Risk Group.

Prior to joining Temasek in July 2011, Ms Png was Managing Director with UBS AG where she was Joint Head of the Financial Institutions Group for Asia investment banking. She is a member of the Board of Trustees of Singapore Management University. She is also a board member of Enterprise Singapore.

Born in Singapore in 1975, she holds a Bachelor of Accountancy degree with First Class Honours from the Nanyang Technological University and is a Chartered Financial Analyst.

Axel Dumas, great grandson of Émile Hermès, represents the sixth generation of the Hermès family. Holding a Master’s in Law and Bachelor of Philosophy, Axel Dumas attended Sciences-Po Paris and is a graduate of Harvard Business School (AMP).

After eight years at Paribas, based in Beijing and New York, he joined Hermès in 2003 as Auditor with the Financial Department of Hermès International and went on to become Retail Director for France.

In 2006 he was named Managing Director of Hermès Bijouterie and, in 2008, was appointed Managing Director Métier Hermès Leather and Saddlery.

From May 2011 to June 2013 he held the position of Chief Operating Officer and since June 2013, Axel Dumas has been appointed Chief Executive Officer of Hermès International.

Mr. Karl Guha is the Chairman of ING Groep N.V., a leading European bank, member of the Supervisory Board of SHV Holdings N.V. and member of the supervisory board and treasurer of Rijksmuseum Fonds. 

Karl has more than 30 years of experience in international banking, having worked in the United States, Europe, Australia and Asia. He started his career in 1989 at ABN Amro where he held various positions until 2008, including Corporate Executive Vice President, Group Treasurer and Head of Group Asset and Liability Management and Corporate Executive Vice President and Head of Structured Risk Finance and Complex Products. In 2008, he became the Chief Risk Officer and member of the Executive Management Board of UniCredit Group. Karl was the Chief Executive Officer of Van Lanschot Kempen from 2013 to 2021. Karl then worked for Goldman Sachs Europe from 2021 to 2023 as a Senior International Advisor. During that period Karl also worked for McKinsey Europe as a Senior Advisor for the Risk and Resilience Practice.

Karl holds a degree in Economics from Boston University.

Nitin Nohria is the George F. Baker Jr. and Distinguished Service University Professor at Harvard Business School. He previously served as the school’s tenth dean from 2010-2020. His intellectual interests center on leadership and corporate performance. He is the co-author of 16 books and over 100 articles and cases.

He serves as the Executive Chairman of Thrive Capital (a NYC venture capital firm) and sits on the Board of Directors of Anheuser-Busch InBev, Alsym, Bridgespan, Massachusetts General Brigham, and Rakuten Medical.

Before joining the Harvard Business School faculty, Nohria received his Ph.D. (1988) from the Sloan School of Management, Massachusetts Institute of Technology, and a B. Tech. (1984) in Chemical Engineering from the Indian Institute of Technology, Bombay (which honored him as a Distinguished Alumnus in 2007).

Nitin Nohria is the George F. Baker Jr. and Distinguished Service University Professor at Harvard Business School. He previously served as the school’s tenth dean from 2010-2020. His intellectual interests center on leadership and corporate performance. He is the co-author of 16 books and over 100 articles and cases.

He serves as the Executive Chairman of Thrive Capital (a NYC venture capital firm) and sits on the Board of Directors of Anheuser-Busch InBev, Alsym, Bridgespan, Massachusetts General Brigham, and Rakuten Medical.

Before joining the Harvard Business School faculty, Nohria received his Ph.D. (1988) from the Sloan School of Management, Massachusetts Institute of Technology, and a B. Tech. (1984) in Chemical Engineering from the Indian Institute of Technology, Bombay (which honored him as a Distinguished Alumnus in 2007).

Dr. Sandra Dembeck is CFO of Tengelmann Twenty-One KG and chair of TAK Advisory.

She started her career in 1999 at McKinsey & Company where she spent 6 years first in Europe and later relocated to Hong Kong. In 2005 she joined C&A to start up their retail business in China followed by various CFO roles for C&A in Europe.

She joined Kingfisher Plc in 2014, first as CFO B&Q China before relocating to the UK to become CFO B&Q UK & Ireland. In 2018 she was appointed Deputy Group CFO for Kingfisher Plc. In April 2020, at the start of the Covid pandemic, she joined the world’s largest caterer Compass Group Plc as Group Corporate Finance Director. From March 2022 until recently, Sandra was the CFO of Zalando SE. Since April 2025, she has been the CFO of Tengelmann Twenty-One. 

Sandra graduated in Business Administration from the University of Passau and holds a doctorate from the University of Konstanz.

Mr. Karl Guha is the Chairman of ING Groep N.V., a leading European bank, member of the Supervisory Board of SHV Holdings N.V. and member of the supervisory board and treasurer of Rijksmuseum Fonds. 

Karl has more than 30 years of experience in international banking, having worked in the United States, Europe, Australia and Asia. He started his career in 1989 at ABN Amro where he held various positions until 2008, including Corporate Executive Vice President, Group Treasurer and Head of Group Asset and Liability Management and Corporate Executive Vice President and Head of Structured Risk Finance and Complex Products. In 2008, he became the Chief Risk Officer and member of the Executive Management Board of UniCredit Group. Karl was the Chief Executive Officer of Van Lanschot Kempen from 2013 to 2021. Karl then worked for Goldman Sachs Europe from 2021 to 2023 as a Senior International Advisor. During that period Karl also worked for McKinsey Europe as a Senior Advisor for the Risk and Resilience Practice.

Karl holds a degree in Economics from Boston University.