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succession

June 3, 2013

Malta’s minister for the economy, investment and small business has announced the government has started work on a family business act that would be the first of its kind in Europe.

Malta’s minister for the economy, investment and small business has announced the government has started work on a family business act that would be the first of its kind in Europe.

Speaking at the Bank of Valletta-PwC Family Business Forum, Chris Cardona said family-run businesses made up around 75% of the private sector in Malta.

However, he said there had never been legislation designed purely for family businesses.

May 13, 2013

Every family has secrets. Trouble comes when families collude rather than talking honestly to each other about them.

Every family has secrets. Trouble comes when families collude rather than talking honestly to each other about them. When family members are in business together or are connected financially, those secrets often interfere not only with family relationships, but with the family business, foundation and even the family office as well.

May 8, 2013

One of China’s best-known companies is to shun second-generation management in favour of passing on control to non-family managers. 

One of China’s best-known companies is to shun second-generation management in favour of passing on control to non-family managers.

Ren Zhengfei, who founded Huawei Technologies – China’s biggest technology company with revenues of more than $35 billion (€30 billion)– 26 years ago, said he would not be passing on the business to any member of his family.

April 25, 2013

When brothers and sisters work together in a family business the scope for problems is huge. But if managed carefully these relationships can be both productive and fulfilling.

There’s hardly a sadder tale of sibling problems than that of the Chadha brothers, the family behind Indian conglomerate Wave. The beginning of the story will be familiar to many families – a migrant father who started a small retail business and a second generation that took that company to a new level, turning it into a successful empire with interests in food processing, technology, distilling and real estate among others.

April 8, 2013

James Wates, a fourth-gen member of the family that controls the eponymous construction business, has been appointed chairman as the family reasserts its control of the business.

James Wates, a fourth-gen member of the family that controls the eponymous construction business, has been appointed chairman as the family reasserts its control of the company.

Wates (pictured, second from left) replaces non-family Paul Drechsler, who will remain as chief executive, until a replacement can be found for this position as well.

Drechsler had been at the helm for the past seven years in the role of both chairman and chief executive, but Wates had always planned a return to family leadership.

February 1, 2013

A court in Seoul has ruled in favour of Samsung’s second-generation chairman ensuring the current family ownership of the world’s biggest maker of smart phones will remain in place.

A court in Seoul has ruled in favour of Samsung’s second-generation chairman ensuring the current family ownership of the world’s biggest maker of smart phones will remain in place.

The court ruled in favour of Lee Kun-hee, Samsung's second-generation chairman in three cases brought against him by five of his relatives, allowing Lee to hold on to $3.7 billion (€2.7 billion) worth of company shares that the plaintiffs had tried to obtain.

January 25, 2013

Bernard Arnault’s complicated fiscal dealings in Belgium are all designed to keep luxury goods giant LVMH well under the Arnault family's control and not to avoid France’s proposed 75% super-tax, according to the company.

Bernard Arnault’s complicated fiscal dealings in Belgium are all designed to keep luxury goods giant LVMH well under the Arnault family's control and not to avoid France’s proposed 75% super-tax, according to the company.

The response from LVMH came as the patriarch of French industry again faced attack from the French public after further details of his financial plans and efforts to gain Belgian citizenship were revealed.

January 10, 2013

Internal communication issues in family businesses could be a sign of an addiction problem at the management level, according to consultants Regeneration Partners.

Internal communication issues in family businesses could be a sign of an addiction problem at the management level, according to consultants Regeneration Partners. Its recent research has found high levels of addiction in US family firms.

December 13, 2012

For some family businesses, navigating the financial crisis has been tough, but perhaps they should take a look at the business philosophy of the likes of the Whitechapel Bell Foundry, makers of Big Ben.

For some family businesses, navigating the financial crisis has been tough, but perhaps they should take a look at the business philosophy of the likes of the Whitechapel Bell Foundry, makers of Big Ben.



The company, which has seen the reign of 27 monarchs, is the oldest family business in Britain, according to a list released by Family Business United. It says Britain's 10 oldest family firms have been in business for a combined total of 4,027 years, averaging 400 years each. 



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