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next generation

November 10, 2009

Rupert Murdoch, chairman of News Corp, has once again reiterated his desire that one of his children to succeed him as head of the international multimedia company.

Rupert Murdoch, chairman of News Corp, has once again reiterated his desire that one of his children to succeed him as head of the international multimedia company.
 
In an interview with Sky News Australia, Murdoch said: "I am sure one of them will emerge. It would be nice, every parent wants to see that." The family is in control of 40% of the voting rights for the business and, according to Murdoch, has regular succession meetings.
 

September 3, 2009

Every family has a figurehead, a patriarch or matriarch who provides guidance and leadership. The influence of such a person is significant in any family but it is even greater when he or she has led the family to great wealth and success

Every family has a figurehead, a patriarch or matriarch who provides guidance and leadership. The influence of such a person is significant in any family but it is even greater when he or she has led the family to great wealth and success. Such people weald substantial power over the rest of the family and are therefore able to ensure that it maintains its integrity as a unit. But death poses a problem: how can a figurehead ensure that family unity is maintained once they are gone?

July 9, 2009

We are all aware of the merits of listening to our elders, especially within family businesses, but Stephanie Brun de Pontet advocates paying attention to the ideas of the younger generations too

We are all aware of the merits of listening to our elders, especially within family businesses, but Stephanie Brun de Pontet advocates paying attention to the ideas of the younger generations too

April 27, 2009

Two next generation members tell Samantha de Baca about how they define their philanthropic missions and how they select charities for their family foundations

As younger generations become involved in the work of their families' philanthropy, the processes they use evolve very differently. As two third-generation members, Mary Galeti and Katherine Lorenz (pictured) explain, there are many ways to select the right charities to carry out your family's philanthropic vision and to develop your own philanthropic voice.

April 27, 2009

The economic turmoil is bad news for philanthropy. Michael Fischer explores what next gens need to know about giving when everyone is tightening their belts, and looks at how to get the maximum bang for your buck…

The current economic downturn has hit the philanthropic sector hard. "There's no question that this has devastated the assets of those who have endowed foundations, and it's really chilled a lot of people who do their giving out of advised funds or do it out of cash, direct gifts," says Virginia Esposito, president of the National Center for Families in Philanthropy in Washington DC.

"The average foundation people we're talking to have been affected: their assets are down 30% to 50%," continues Esposito, whose organisation recently conducted a major survey of its members.

April 27, 2009

Philanthropy courses for next generation members are growing in number as demand for knowledge in how to give effectively continues to rise. Marc Smith meets two twenty-somethings to find out what is driving them to make a difference…

There are those who would have you believe that today's young adults are more likely to be philistines than philanthropists, but perhaps they've just been talking to the wrong people.

Children born into wealth, as everyone knows, have to balance the financial security, comparative luxury and personal freedom they inherit with the burden of expectation that accompanies them as they grow up in the shadow of famous ancestors.

February 9, 2009

A next generation member of the family behind Indian conglomerate TVS Group has unexpectedly resigned.

A next generation member of the family behind Indian conglomerate TVS Group has unexpectedly resigned. Krishna Mahesh, executive director of subsidiary Sundaram Brake Linings (SBL) and son of the chairman and managing director, has also stepped down from his position on the board.

SBL made the announcement to the Bombay Stock Exchange, but has not made any other statement.

January 28, 2009

Family member Richard C Gage has been elected to the Carlson board of directors, Carlson chairman Marilyn Carlson Nelson has announced.

Family member Richard C Gage has been elected to the Carlson board of directors, Carlson chairman Marilyn Carlson Nelson (pictured) has announced.

The election is part of a plan to rotate third-generation Carlson family members on and off the board every three years. Richard replaces his brother, Scott C Gage, who has served on the board since 2006.

October 9, 2008

Does it matter if your family has no emotional attachment to the family business? I only ask because new research has touched on this very subject and highlighted several interesting issues.

Does it matter if your family has no emotional attachment to the family business? I only ask because new research has touched on this very subject and highlighted several interesting issues.

The study by the Institute for Family Business, "Emotional Ownership - The Critical Pathway Between the Next Generation and the Family Firm", reports that fostering emotional ownership at an early age gives family members a sense of identification and attachment to the family business.

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