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Succession

Indian family real estate business Lodha Group will be split into two entities to ease succession planning into the second generation – a strategy that is common in India, according to a family business academic based in the country.

More than four-fifths of Asian family businesses do not have a succession plan in place despite the majority expecting to handover to the next generation within five years, new research has revealed.

The Murdoch family likely had a considerable amount of discussion and debate about the succession of brothers James and Lachlan Murdoch to the helm of 21st Century Fox, a US family business expert says, and did well to keep those discussions contained.

Shares in family-controlled Australian business Seven Group Holdings dropped over 5% on the news second-gen Ryan Stokes would be taking over as chief executive and managing director in August.

Investors have backed the second-generation chief executive of Otsuka Kagu in a feud with her father, who wanted her ousted from the family business.

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