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next-generation

April 16, 2019

Merck had been able to continually anticipate changes in the macro-environment and adapt itself

There are several things that family businesses can learn from the history of Merck.

Cohesion and continuity are the benefits of adherence to family values and tradition. Merck values of hard work, empathy, and striving for excellence were imbibed and inculcated across generations mainly through practice.

September 22, 2017

L’Oreal heiress Liliane Bettencourt dies at 94, Maersk ships off its tanker business for $1.17 billion, and Chinese next-gens reluctant to take the reins.

L’Oreal heiress Liliane Bettencourt dies at 94

Liliane Bettencourt, the heiress to the L’Oreal cosmetics fortune and the world’s richest woman, has died at home in Paris, aged 94.

Bettencourt, whose net worth was estimated at $39.5 billion, was the daughter of Eugène Schueller, who made a fortune as the inventor of modern hair dye and founder of L’Oreal.

Bettencourt was said to have adored her father, whose company she inherited on his death in 1957, her mother having died when she was five.

August 30, 2017

When it comes to succession, some business families plan well and some don’t, whether the next generation is ready or not. Scott McCulloch reports.

When it comes to succession, some business families plan well and some don’t, whether the next generation is ready or not. Scott McCulloch reports.

Here is a scenario: What if a patriarch–a maverick whose family firm, built over four decades and turning over more than €100 million ($105 million) annually–dies in office without leaving his children a set of instructions on how to run the show?

June 27, 2013

It seems even Spider-Man knows the value of sticking with the family when it comes to business – at least that's what you'd think on hearing the title of the latest instalment of the classic Marvel comic.
 

It seems even Spider-Man knows the value of sticking with the family when it comes to business – at least that's what you'd think on hearing the title of the latest instalment of the classic Marvel comic.

Spider-Man: Family Business will make its debut in April 2014 and features a mysterious character claiming to be Peter Parker's long-lost sister Theresa.

February 21, 2013

"Should I stay or should I go?" asked The Clash. It’s a question that arises for all next-gens sooner or later, at least when it comes to the people they employ to advise them about investing their money. The evidence suggests that many incline to "go".

"Should I stay or should I go?" asked The Clash. It’s a question that arises for all next-gens sooner or later, at least when it comes to the people they employ to advise them about investing their money. The evidence suggests that many incline to "go".

A recent report published by Campden Wealth and Morgan Stanley found that 62% of the next-generation members in major family businesses are considering changing their bankers in the next two years, compared to just 25% of the older generation in those businesses.

August 24, 2011

Families in Asia who manage their philanthropic activities as a unit need to develop strong strategies for accommodating inter-generational differences to ensure the success of their efforts, according to a specialist in philanthropy.

Families in Asia who manage their philanthropic activities as a unit need to develop strong strategies for accommodating inter-generational differences to ensure the success of their efforts, according to a specialist in philanthropy.

May 25, 2011

Aditya Mittal, son of steel tycoon Lakshmi Mittal, has significantly increased his responsibilities at ArcelorMittal in a move some see as preparation for his eventual succession to leading the company.

Aditya Mittal, son of steel tycoon Lakshmi Mittal, has significantly increased his responsibilities at ArcelorMittal in a move some see as preparation for his eventual succession to leading the company.

In a statement on 24 May, the Luxembourg-based steel group said that Aditya, who currently leads operations in the Americas, will take over running the European unit—the company’s biggest but with the lowest earnings.

May 19, 2011

As parts of Asia emerge as economic superpowers, the patriarchs driving the region’s growth have faced a succession of scandals, prompting questions over autocratic styles of governance, which appear increasingly at odds with the demands of the new generation.

As parts of Asia emerge as economic superpowers, the patriarchs driving the region’s growth have faced a succession of scandals, prompting questions over autocratic styles of governance, which appear increasingly at odds with the demands of the new generation.

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