EQUIS Accreditation: a level of quality. Professor Cornuel, could you tell us briefly what the EFMD is and what its role is in management education? The European Foundation for Management Development (efmd) was founded 30 years ago as an independent not-for-profit membership association of management education providers and leading companies. It is Europeâs unique forum for information, research, networking and debate on innovation and best practice in management development.