Prof. Dr. Dres. H.c. Arnold Picot was born in 1944 in Gmunden, Austria. After banking and studying business administration, he completed his doctorate and habilitation at the Ludwig-Maximilians-University Munich and in 1976 took over the chair of business administration, in particular corporate management and organization, at the University of Hanover. In 1984 he was appointed to the chair of General and Industrial Business Administration at the Technical University of Munich, before he became director of the Institute for Information, Organization and Management at the Ludwig-Maximilians-University Munich. In 1998 he was awarded an honorary doctorate by the TU Bergakademie Freiberg, and in 2002 he received an honorary doctorate from the University of St. Gallen. He was chairman of the Munich Circle (supranational association for communication research), member of various scientific advisory councils, boards and commissions as well as supervisory boards and advisory boards in business practice and co-publisher of several journals, writing series and collected works. His research interests focused on basic questions of economic theory, organization and corporate governance, and the interactions between new technologies and the structures of companies and markets.