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Succession

Primogeniture is no longer the norm when it comes to succession planning, a new family business report reveals, with daughters and younger siblings worldwide increasingly taking up executive positions.

More than 80% of family businesses do not have a robust succession plan and 75% of firms with CEOs aged 65 or older still have no succession process in place, new research has revealed.

More than 80% of family businesses do not have a robust succession plan and 75% of firms with CEOs aged 65 or older still have no succession process in place, new research has revealed.

India’s largest privately held company is introducing the third generation into the fold, with twins Isha and Akash Ambani joining the board of two of Reliance Industries’ subsidiaries.

Second gen Bob Fisher will become chairman of the clothing retailer Gap, which his parents founded more than 40 years ago, at the start of the next financial year.

A family member will not take the helm of Fiat when existing professional chief executive Sergio Marchionne steps down in four years’ time, fifth-gen chairman John Elkann has told media.

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