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September 15, 2017

Lotte to sell stores over Chinese missile defence sanctions; youngest-ever chief financial officer steps up at Kraft Heinz; and NZ philanthropist and businessman dies.

Lotte to sell stores over Chinese missile defence sanctions

South Korean chaebol Lotte is to start selling its Chinese supermarkets, after Beijing hit it with unofficial sanctions related to the nuclear arms tensions on the Korean peninsula.

September 1, 2017

Jailing of Samsung heir a message to chaebol, Ford self-drive cars to deliver pizza, and Father-son team launch new bank.

Jailing of Samsung heir a message to chaebol

The jailing of Samsung chief Lee Jae-yong for five years has fuelled public conversation in South Korea about the huge family-owned businesses which dominate the economy.

Samsung heir Lee Jae-yong was sentenced on corruption charges this week following a case dubbed “the trial of the century”, due to the message it sent the country’s massive conglomerates.

April 27, 2017

Arnault family restructures holdings, sells Hermes stake; Lotte Group to reduce cross-shareholdings by 73% in simplification drive; JAB Holdings luxury arm mulls sale of Jimmy Choo and Bally

Arnault family restructures holdings, sells Hermes stake
France’s Arnault family is to pay €12.1 billion ($13.2 billion) for the minority stake in iconic French fashion house, Christian Dior, it does not yet control and sell its stake in family-controlled rival Hermes.

Arnault Family Group, who controls the world’s largest luxury company LVMH, said the move was part of a two-step simplification of its holding structures in response to market demands.

February 28, 2017

Second-gen Lee Jae-yong, the vice chairman and heir apparent of electronics conglomerate Samsung, is to be indicted on multiple charges including bribery and embezzlement, according to prosecutors.

Second-gen Lee Jae-yong, the vice chairman and heir apparent of electronics conglomerate Samsung, is to be indicted on multiple charges including bribery and embezzlement, according to prosecutors.

Earlier this month, the 48-year-old was arrested for his alleged role in providing about ₩43 billion ($37 million) to a friend of South Korean president Park Geun-hye to win state approval for a controversial 2015 merger.

November 25, 2016

Cargill invests $50 million is its Thai facility; Corona founder leaves $3 million to each villager in hometown; and Chaebol crisis heats up, leaders questioned

Cargill invests $50 million is its Thai facility

Family-controlled Cargill, the world’s largest agricultural commodities trader, is investing $50 million to expand its poultry-processing operations at its facility in Thailand.

Based in the Nakhon Ratchasima province, Cargill’s expansion will create 1,400 new jobs and add to the more than 13,500 people already working across 14 locations in Thailand.

October 21, 2016

A.G. Sulzberger appointed deputy publisher of New York Times, A.G. Sulzberger appointed deputy publisher of New York Times, and Vivendi lawsuit dialled up to 11

A.G. Sulzberger appointed deputy publisher of New York Times

Fifth-generation Arthur Gregg “A.G.” Sulzberger has been appointed deputy publisher of the New York Times, setting him up to one day succeed his father, Arthur Sulzberger Jr.

The 36-year-old next-generation executive takes on the role amid a difficult time for the publication: readers and advertisers are slowly shifting to online, while publishers are shifting their resources within the newsroom.

March 9, 2016

Doosan Group, the oldest business in Korea, has broken new ground as the first chaebol to be led by a fourth-generation heir.

Doosan Group, the oldest business in Korea, has broken new ground as the first chaebol to be led by a fourth-generation heir.

According to a company statement, Doosan chairman Park Yong-maan announced his retirement at a board meeting last week and recommended that his nephew, Park Jeong-won, take on the role.

October 9, 2015

Schaeffler finally lists on stock exchange following delays due to VW scandal; Lotte family feud goes to court; Lundin tries to woo investors on merger.

Schaeffler debuts on stock market following delays

Family-owned car parts company Schaeffler saw its shares rise 8% on its market debut on Friday.

The German family business delayed the IPO one week due to the emissions scandal at Volkswagen, which accounts for more than 10% of group sales.

The company had also scaled back the size of the IPO, raising €938 million in the listing where it had initially planned to raise €2.5 billion.

February 17, 2015

A third-gen of South Korean conglomerate LG Group appears to have cracked the glass ceiling at her family’s business, becoming the first female family member appointed to top management.

A third-gen of South Korean conglomerate LG Group appears to have cracked the glass ceiling at her family’s business, becoming the first female family member appointed to top management.

Koo Ji-eun, who is also a next gen of the Samsung empire through her mother’s side, was appointed vice president of LG Group's catering subsidiary Ourhome this month, 11 years after she joined the company.

Koo is the daughter of Ourhome chairman Koo Cha-hak, and her uncles are LG Group chairman Koo Bon-moo and vice-chairman Koo Bon-joon.

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