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Succession

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.

December 23, 2015

Peer-to-peer lending, family offices dialling up on risk, and big bets on gold– these were just some of the themes that kept CampdenFB readers hooked during 2015. What were the most read news stories on CampdenFB in 2015? The results may surprise you.

Peer-to-peer lending, family offices dialling up on risk, and big bets on gold– these were just some of the themes that kept CampdenFB readers hooked during 2015. What were the most read news stories on CampdenFB in 2015? The results may surprise you.

1) Luxembourg based family office launched P2P-focused asset manager

December 8, 2015

A New Zealand businessman has shed tears at a shareholder meeting as he defended the appointment of his daughter to chairman of the jewellery company he founded.
 

A New Zealand businessman has shed tears at a shareholder meeting as he defended the appointment of his daughter to chairman of the jewellery company he founded.

Michael Hill International addressed shareholders at its annual meeting in Auckland last week, the first time since the business transitioned from the first to second generation of the family.

December 2, 2015

Entrepreneurs in Asia are more likely to take a long-term approach to their enterprise, according to new research – less than a quarter in China intend to exit their businesses compared to half in the UK.

Entrepreneurs in Asia are more likely to take a long-term approach to their enterprise, according to new research – less than a quarter in China intend to exit their businesses compared to half in the UK.

They are also more likely to keep their wealth in the business, with the average turnover in the region sitting at $12 million, compared to $6 million in the West; while their personal wealth is averages $16.2 million – 26% lower than Western entrepreneurs in the US and Europe.

September 11, 2015

When Christine Galloway joined the Dayton family office of Minneapolis in the early 1990s, the industry was in its infancy. Now, freshly retired, she reflects on her experience working for the family that created one of the US’s largest retail empires, and the strategies she has helped set in place to ensure the family office lasts for generations to come.

July 30, 2015

When it comes to handing over the reins to successors, the odds are stacked against family businesses. Around 70% of families fail to properly pass their business or wealth to the next generation. One of the biggest reasons is that half of families lack a succession plan: a process for identifying and nurturing people to become leaders in the business.

When it comes to handing over the reins to successors, the odds are stacked against family businesses. Around 70% of families fail to properly pass their business or wealth to the next generation. One of the biggest reasons is that half of families lack a succession plan: a process for identifying and nurturing people to become leaders in the business.

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