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September 16, 2016

Samsung next-generation succession continues, BlackRock joins €2 billion suit against Volkswagen, All aboard Maersk after Hanjin hits choppy waters

Samsung next-generation succession continues
Samsung next-generation heir Lee Jae Yong has been nominated to join the board of Samsung Electronics – the embattled arm of the family-controlled conglomerate.

September 2, 2016

Samsung’s value drops $7 billion on battery fire reports; AB InBev and SABMiller deal to yield $2 billion in fees and taxes; and Faber-Castell teams up with Karl Lagerfeld on art equipment

Samsung’s value drops $7 billion on battery fire reports

South Korea's largest family-owned conglomerate Samsung has seen its stock plunge by $7 billion this week amid reports that batteries in its new flagship device have exploded.

The Suwon-headquartered group has in turn issued an unprecedented recall of all of its newest Galaxy Note 7 smartphones.

The recall comes just one week ahead of an expected presentation of a new iPhone model from its main rival Apple.

September 1, 2016

Family business Toyota shot up almost one-third in its brand portfolio value to $55.3 billion this year, in the latest annual evaluation of the world’s most powerful brands.

Family business Toyota shot up almost one-third in its brand portfolio value to $55.3 billion this year, in the latest annual evaluation of the world’s most powerful brands.

The Japanese company owned by the Toyoda family grew by 30% to become the fifth fastest growing portfolio of brands, according to branded business valuation and strategy consultancy Brand Finance.

August 4, 2016

A newly revised law in South Korea will see the chiefs of major family-controlled conglomerates, known as chaebol, come under examination as lawmakers look to ensure the stability of their financial subsidiaries, officials said this week.  

A newly revised law in South Korea will see the chiefs of major family-controlled conglomerates, known as chaebol, come under examination as lawmakers look to ensure the stability of their financial subsidiaries, officials said this week. 

The move comes nearly three years after the Tongyang Group, then the 38th largest chaebol in South Korea, declared bankruptcy after inappropriately selling commercial paper and corporate bonds, causing damages to the tune of ₩2 trillion ($1.87 billion). 

June 3, 2016

Bechtel names 35-year-old as new chief executive; Family behind Market Basket grocery chain back in court; and South Korean court rules against Samsung merger suit 

Bechtel names 35-year-old as new chief executive

Bechtel Corporation, one of the largest family businesses in the US, has named fifth-generation Brendan Bechtel as its new chief executive.

The 35-year-old will replace Bill Dudley, who became the first non-family CEO to run the business after Brendan’s father, Riley Bechtel, was diagnosed with Parkinson’s disease two years ago.

October 30, 2015

Volkswagen posts its first quarterly loss in more than 15 years; Vincent Bolloré plans to IPO West African train project; and Samsung compensates workers in hazardous conditions claim

Emissions scandal forces Volkswagen’s first loss in 15 years
Family-controlled carmaker Volkswagen has posted its first quarterly loss in more than 15 years due to €6.7 billion ($7.38 billion) of charges it has set aside to cover costs after it admitted rigging diesel emission tests.
Controlled by the third generation of the Piech family, Volkswagen admitted last month it deliberately tampered with thousands of its cars’ emission testing software to deceive US environmental authorities.

July 3, 2015

Suzuki CEO names eldest son as successor, ISS adds voice to contentious Samsung merger, and family-backed equity firm invests in African beef, and 

Suzuki CEO names eldest son as successor

Osamu Suzuki, the 85-year-old CEO of Japanese auto maker Suzuki, named his eldest son as the new president this week, easing investor concern over the firm’s succession plan.

Executive vice president Toshihiro Suzuki took over the role of president and chief operating officer on Tuesday. His outspoken father will remain CEO and chairman for the foreseeable future, according to Tuesday’s statement.

April 17, 2015

Samsung launches screen division for Apple; Benetton Group falls short on factory disaster fund; and Hyundai to revamp outdated wage system

Samsung launches screen division for Apple

South Korea’s Samsung has created a standalone team of 200 employees that will work exclusively on screens for their largest competitor Apple, according to Bloomberg.

Apple is currently the biggest customer for Samsung components and relations between the two companies have improved since they dropped all lawsuits against each other outside of the US.

January 23, 2015

2014 was a lively year for family businesses, from Abigail Johnson’s succession at Fidelity, to the Market Basket ownership struggle and of course Korean Air’s infamous ‘nut rage’ incident. Here we take a look at some of the issues we think will remain top-of-mind for 2015 and the family businesses to watch.

2014 was a lively year for family businesses, from Abigail Johnson’s succession at Fidelity, to the Market Basket ownership struggle and of course Korean Air’s infamous ‘nut rage’ incident. Here we take a look at some of the issues we think will remain top-of-mind for 2015 and the family businesses to watch.

1: Shareholder revolts

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