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US family businesses

August 27, 2013

The board of directors of feuding US family business Market Basket have hired an executive recruitment firm in a possible move to oust second-gen chief executive Arthur T DeMoulas.

The board of directors of feuding US family business Market Basket have hired an executive recruitment firm in a possible move to oust second-gen chief executive Arthur T DeMoulas.

They have also agreed to distribute $250 million (€187 million) among the Massachusetts supermarket chain’s nine family shareholders – a motion likely supported by DeMoulas’s rival and cousin Arthur S DeMoulas, who wants a greater share of company profits.

August 9, 2013

American Greetings Corporation returns to full family ownership, Wal-Mart mulls bid for Hong Kong supermarket chain, and Indian family firm announces expansion plans.

American Greetings Corporation returns to full family ownership, Wal-Mart mulls bid for Hong Kong supermarket chain, and Indian family firm announces expansion plans.

American Greetings Corporation
American Greetings Corporation has returned to private ownership, following a $612 million (€458 million) buyout by the Weiss family – descendants of Jacob Sapirstein who founded the company in 1906.

July 16, 2013

The feuding family behind multi-billion dollar US supermarket chain Market Basket is set to take their battle to the boardroom this Thursday, with the current president facing a leadership coup led by his cousin.

The feuding family behind multi-billion dollar US supermarket chain Market Basket is set to take their battle to the boardroom this Thursday, with the current president facing a leadership coup led by his cousin.

The New England-based business, with annual revenues of more than $4 billion (€3.1 billion), has been led by Arthur T DeMoulas for the last five years, but he has been accused of refusing to listen to the board and spending money recklessly.

June 26, 2013

Family business should not be confused with small business in the US

Size matters in the US, which is home to some of the world’s biggest family businesses. The country’s five largest family-controlled firms – Walmart, Ford, Cargill, Koch Industries and Comcast – had combined revenues of $911.9 billion (€694.8 billion) in 2012, more than Indonesia’s GDP.

June 6, 2013

More than a quarter of US family businesses questioned in a Deloitte survey do not have a board of directors, and of those that do, the majority lack diversity in terms of non-executives, non-family members and female representation.

More than a quarter of US family businesses questioned in a Deloitte survey do not have a board of directors, and of those that do, the majority lack diversity in terms of non-executives, non-family members and female representation.

The report, Perspectives on Family-Owned Businesses, also found succession planning was a large area of inactivity when it came to governance of family businesses.

April 10, 2013

George's Inc, one of the US's largest privately owned poultry companies, is strengthening family control by promoting fourth-gen brothers to the role of joint chief executive and president.

George's Inc, one of the US's largest privately owned poultry companies, is strengthening family control by promoting fourth-gen brothers to the role of joint chief executive and president.

Carl and Charles George joined the $900-million-a-year (€687 million), Arkansas-based family business in 1997 fresh from school, working their way up to the executive team in 2006.

January 4, 2013

Crises has narrowly been averted in the US with the recent fiscal deal, but the current economic climate and political uncertainty is still one of the biggest concerns for family businesses, according to research.

Crises has narrowly been averted in the US with the recent fiscal deal, but the current economic climate and political uncertainty is still one of the biggest concerns for family businesses, according to research.

The 2013 Family Enterprise USA survey found that 91% of respondents considered economic uncertainty the greatest concern for their business, a 9% increase on last year’s survey. Non-profit advocacy group FEUSA surveyed 230 family firm executives for the research.

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