BOSTON—Harvard Business School yesterday conferred its most important honor, the Alumni Achievement Award, on five distinguished graduates as part of the Class Day ceremony for the MBA Class of 2018, who will receive their degrees today at Commencement.

This year’s Award recipients are Claudio L. Haddad (12th Owner/President Management Program, 1987) chairman of Insper Institute of Education and Research, a university he helped launch in São Paulo, Brazil; Carla A. Harris (MBA 1987), vice chairman of wealth management and senior client advisor at Morgan Stanley, where she oversees the firm’s multicultural client strategy; Christopher B. Howard (MBA 2003), president of Robert Morris University, a nationally ranked, doctoral-granting institution outside Pittsburgh, Pennsylvania; Abigail P. Johnson (MBA 1988), chairman and CEO of Fidelity Management and Research (FMR) LLC.; and John A. Paulson (MBA 1980), president of Paulson & Co. Inc., an investment management firm.