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July 27, 2015

John Elkann, the fifth-generation heir to the Agnelli fortune, is reportedly leading a group of families towards a potential buyout of weekly financial publication The Economist and several other titles, according to a company statement.

John Elkann, the fifth-generation heir to the Agnelli fortune, is reportedly leading a group of families towards a potential buyout of weekly financial publication The Economist and several other titles, according to a company statement.

The proposed deal comes one week after UK owner Pearson, another family-controlled conglomerate, sold the Financial Times to the Nikkei Group of Japan, as it looks to focus on its core education business.

October 9, 2014

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.

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.

The Italian family business head says the company will stick to its current arrangement of having a family member as chair, and a non-family member as chief executive.

Bloomberg reported this week that Marchionne would retire in 2018, having been at the helm of the automaker since 2004.

July 17, 2014

A fresh-faced CEO straight out of business school isn't always the person to inspire public and investor confidence, but circumstances sometimes force a young candidate into the top spot at a family firm.

Picking a chief executive for any family business is a tough task. It is especially problematic if the company is bent on keeping a family member in the top job. This was the conundrum Gianni Agnelli faced when trying to prepare an heir to take the wheel of his family’s iconic Italian car brand Fiat. Drug addiction in his only son and then stomach cancer in his nephew saw his pool of potential successors whittled down to his 21-year-old grandson John Elkann.

January 2, 2014

Italian family business Fiat has welcomed in the New Year by signing an agreement to purchase the remaining stake it does not already own in US carmaker Chrysler.

Italian family business Fiat has welcomed in the New Year by signing an agreement to purchase the remaining stake it does not already own in US carmaker Chrysler.

The $3.65 billion (€2.67 billion) agreement ends a stand off between Fiat, which is owned by family-controlled holding company Exor, and a retiree healthcare trust over the value of the company.

Veba, associated with the United Auto Workers union, argued its 41.5% stake was worth $5 billion, while Fiat said it was worth half that amount.

November 27, 2013

Uncertainty about whether Italian family business Fiat will buyout the remaining stake in US carmaker Chrysler looks set to remain into the new year, with the company announcing a planned partial listing will not happen before the end of the year.

Uncertainty about whether Italian family business Fiat will buyout the remaining stake in US carmaker Chrysler looks set to remain into the new year, with the company announcing a planned partial listing will not happen before the end of the year.

November 18, 2013

Italian family businesses Exor and Ferragamo both saw dramatic increases in profit in the third quarter of 2013, while revenue at Italian refinery business Saras was badly hit by the falling price of oil.

Italian family businesses Exor and Ferragamo both saw dramatic increases in profit in the third quarter of 2013, while revenue at Italian refinery business Saras was badly hit by the falling price of oil.

Bouygues
French telecommunication and construction company Bouygues, controlled by the eponymous family, reported third-quarter sales of €9,048 billion – level with the same period last year, but revenues for the first nine months of 2013 dipped 1% to €24,255.

November 6, 2013

John Elkann heads one of the world’s biggest conglomerates. But he wants to be more than just another boss of a big multinational. He wants to change the world. CampdenFB reports.

John Elkann is on a mission. The fifth-generation owner and manager of one of the biggest industrial groups in the world wants capitalism to change. With his boyish face, soft voice, reserved – even diffident – style he might make an unlikely evangelist, but he is deadly serious.

October 21, 2013

Lapo Elkann, a next-gen of the Agnelli family, has said he is considering opening a foundation for victims of sexual abuse, having revealed to Italian media he was himself abused as a teenager at boarding school.

Lapo Elkann, a next-gen of the Agnelli family, has said he is considering opening a foundation for victims of sexual abuse, having revealed to Italian media he was himself abused as a teenager at boarding school.

Elkann, 36 – brother to John Elkann, chairman of multi-billion euro family-controlled holding company Exor – made the comments in an interview with Italian daily Fatto Quotidiano, though he did not name his abusers.

August 30, 2013

Hermes surprises with strong profits for the first half, while Ferragamo and Folli Follie also see profits up. Exor sees profits soar due to SGS sale.

Hermes surprises with strong profits for the first half, while Ferragamo and Folli Follie also see profits up. Exor sees profits soar due to SGS sale.

Hermes
Strong demand for leather and silk accessories has seen French luxury group Hermes beat forecasts for its first half operating profit, up 14% to €584 million.

The fashion group said growth was balanced in all regions, with Asia ex-Japan and the Americas both seeing growth of 17% compared to the previous year.

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