Born in Ottawa, the youngest of seven children, Drouin joined the Hudson Institute in 1973 following doctoral studies at Columbia University, which she attended after earning a BA from the University of Ottawa.
She is a senior fellow at the Hudson Institute, President of the Museum of Modern Art (MoMA) in New York, a member of the Council on Foreign Relations. She serves on the International Advisory Board of the New York Federal Reserve Bank. She is a member of the Board of the Qatar Museum Authority. She has been a regular columnist for La Presse, the Montreal Gazette and the Financial Post in Canada, and has contributed to the Wall Street Journal and numerous other publications. She hosted a weekly television show on the public television network, TV Ontario
She has served on the Board of Directors of CIBC, The Standard Life Insurance CO, Hasbro Inc., Hollinger International, Vivendi Universal, Ford Motor Company and IAC/InterActiveCorp.She is the author with Barry Bruce-Briggs of Canada Has a Future and with Maurice Ernst and Jimmy Wheeler of Western Europe: Adjusting to Structural Change. She served as vice-chair of Canada's Royal Commission on National Passenger Transportation, she was co-chair of a national commission on Prosperity and Competitiveness. She served on the binational dispute settlement panel established under the NAFTA agreement. She is on the boards of the Institute for Advanced Study and Memorial Sloan Kettering Cancer Center. She was chairman of the Robin Hood Foundation and is presently co-chair of the Robin Hood Foundation's Advisory Board.
Kravis and her husband reside in their homes in New York City, Southampton (New York), Meeker (Colorado), Palm Beach, Florida and Paris, France.
In 1976, while working as an economist at the Hudson Institute, Drouin accompanied Jean-Pierre Goyer, a minister in the government of Pierre Trudeau for whom she had previously worked, on vacation in Mexico. The trip was controversial because only family members were allowed to fly free of charge with cabinet ministers. Goyer, however, defended the trip on the grounds that Drouin was his common-law wife.