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Succession

May 25, 2016

PricewaterHouseCoopers (PwC) has set up an Asia-Pacific family business hub in Singapore, the island city-state where 89% of family businesses do not have a succession plan.

PricewaterHouseCoopers (PwC) has set up an Asia-Pacific family business hub in Singapore, the island city-state where 89% of family businesses do not have a succession plan.

Sian Steele, PwC UK family business leader who helped established the centre, said issues facing family businesses are universal.

However, Asia Pacific family business owners do not have the networking, communication, and support as developed in mature markets when they confront transition issues from first to second and second to third ownerships, Steele said.

May 3, 2016

Their outlook shaped by the global financial crisis, Millennials have a cautious outlook but are keen to have a positive effect on the world. Advisers have to engage these upcoming members of ultra-high net worth families on their terms, explains Ned Dane, senior vice president and head of OppenheimerFunds’ Private Client Group

Their outlook shaped by the global financial crisis, Millennials have a cautious outlook but are keen to have a positive effect on the world. Advisers have to engage these upcoming members of ultra-high net worth families on their terms, explains Ned Dane, senior vice president and head of OppenheimerFunds’ Private Client Group

What was the purpose of carrying out this study?

April 28, 2016

The new generation of ultra-high net worth family members wants to do more than just see their fortunes grow. A new study by OppenheimerFunds and Campden Research has found that these ‘Millennials’ want to make a dent in the world’s problems, but not the way their parents did it. 

The new generation of ultra-high net worth family members wants to do more than just see their fortunes grow. A new study by OppenheimerFunds and Campden Research has found that these ‘Millennials’ want to make a dent in the world’s problems, but not the way their parents did it. 

April 13, 2016

Families should plan ahead to ensure they can make use of tax exemptions when businesses are transferred from one generation to the next, a report has advised.

Families should plan ahead to ensure they can make use of tax exemptions when businesses are transferred from one generation to the next, a report has advised.

March 24, 2016

Latin American ultra-high net worth (UHNW) business executives are on the lookout for merger and acquisition (M&A) targets and are particularly bullish about regional opportunities, despite the challenging economic environment, new research suggests.

Latin American ultra-high net worth (UHNW) business executives are on the lookout for merger and acquisition (M&A) targets and are particularly bullish about regional opportunities, despite the challenging economic environment, new research suggests.

Risk & Return in Latin America found that 56% of the 45 UHNW family business executives surveyed perceive M&A opportunities in Latin America to be excellent or very good.

February 5, 2016

National Amusements third-gen Shari Redstone was the only vote from the board of directors at Viacom, her family’s media empire, opposing the appointment of Philippe Dauman as chairman on Thursday.

 

National Amusements third-gen Shari Redstone was the only vote from the board of directors at Viacom, her family’s media empire, opposing the appointment of Philippe Dauman as chairman on Thursday.

Her father, Sumner Redstone, 92, announced his retirement on Thursday. He had announced his retirement as chairman of the family’s other media empire CBS on Wednesday, where he will be replaced by its existing CEO and president Leslie Moonves.

February 4, 2016

Sumner Redstone’s expected resignation from family media empire Viacom today could unleash a succession battle between its non-family chief executive and his daughter, Shari, who has released a pointed statement about leadership at the company.

Sumner Redstone’s expected resignation from family media empire Viacom today could unleash a succession battle between its non-family chief executive and his daughter, Shari, who has released a pointed statement about leadership at the company.

Nonagenarian Redstone, 92, announced his retirement as chairman of the family’s other media empire CBS yesterday, where he will be replaced by its existing CEO and president Leslie Moonves.

February 3, 2016

The global financial crisis has messed with retirement timelines in family businesses, according to research out of the US, as Baby Boomers have focused on keeping their businesses afloat rather than succession planning.

The global financial crisis has messed with retirement timelines in family businesses, according to research out of the US, as Baby Boomers have focused on keeping their businesses afloat rather than succession planning.

Despite the fact that 62% of senior-generation owners plan to pass on their business within the next decade only 35% have a clear succession plan, the Kreischer Miller report said. Over half (51%) do not have a succession plan at all.

January 22, 2016

Henkel names new CEO; Reliance issues share to battle Bharti; Family businesses top Edelman trust poll 

Henkel names Hans Van Bylen as new CEO
Hans Van Bylen is to take over at German consumer goods maker Henkel after its incumbent chief executive Kasper Rorsted left to become the new CEO of Adidas.

Van Bylen, Henkel’s former head of the beauty care business, joined the family-controlled firm in 1984 and has been a member of the management board since 2005.

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