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Succession

October 10, 2014

Second gen Bob Fisher will become chairman of the clothing retailer Gap, which his parents founded more than 40 years ago, at the start of the next financial year.

Second gen Bob Fisher will become chairman of the clothing retailer Gap, which his parents founded more than 40 years ago, at the start of the next financial year.

The company announced on Friday that non-family chairman and chief executive Glenn Murphy, who has been at the helm since 2007, would be retiring next February.

Non-family member Art Peck, who joined the company a decade ago, will take over as chief executive, while Fisher, who joined the board in 1990, will become chairman.

October 9, 2014

A family member will not take the helm of Fiat when existing professional chief executive Sergio Marchionne steps down in four years’ time, fifth-gen chairman John Elkann has told media.

A family member will not take the helm of Fiat when existing professional chief executive Sergio Marchionne steps down in four years’ time, fifth-gen chairman John Elkann has told media.

The Italian family business head says the company will stick to its current arrangement of having a family member as chair, and a non-family member as chief executive.

Bloomberg reported this week that Marchionne would retire in 2018, having been at the helm of the automaker since 2004.

October 8, 2014

The billionaire founder of Europe’s largest shoe retailer, Heinz-Horst Deichmann, has died in Essen, Germany, at the age of 88.

The billionaire founder of Europe’s largest shoe retailer, Heinz-Horst Deichmann, has died in Essen, Germany, at the age of 88.

A keen philanthropist who had an estimated net worth of $4.2 billion (€3.3 billion), Deichmann transformed his father’s cobblers business into the best-known footwear seller on in Europe, with estimated sales of $6 billion in 2013.

September 11, 2014

Fourth generation Ana Botin has become the most powerful woman in European banking, following her unanimous appointment to the head of Banco Santander.

Fourth generation Ana Botin has become the most powerful woman in European banking, following her unanimous appointment to the head of Banco Santander.

The decision by the board of directors came less than 24 hours after the death of her father Emilio Botin, 79, who suffered a heart attack on Tuesday evening.

September 5, 2014

The daughter-in-law of Advance Publications president Donald Newhouse has been promoted president of global development at its magazine company Conde Nast International.

The daughter-in-law of Advance Publications president Donald Newhouse has been promoted president of global development at its magazine company Conde Nast International.

The appointment answers speculation about what role she would take in the family empire after trade publications division Fairchild Fashion Media, where she had been president and chief executive since 2010, was sold to Penske Media Corporation in August for $100 million.

September 3, 2014

The last member of the family that owned US newspaper Washington Post for eight decades, before its sale to Amazon founder Jeff Bezos last year, is to step down as publisher of the former family business by the end of this month, the company has this week revealed.

The last member of the family that owned US newspaper Washington Post for eight decades, before its sale to Amazon founder Jeff Bezos last year, is to step down as publisher of the former family business by the end of this month, the company has this week revealed.

Katharine Weymouth had been part of the business, bought by her great-grandfather in 1933, for 17 years and had been in her current role as chief executive and publisher for seven years.

August 22, 2014

The future of Luxottica’s non-family chief executive is up in the air due to reported tension with the family-owned firm’s founder over the strategic direction of the company.

The future of Luxottica’s non-family chief executive is up in the air due to reported tension with the family-owned firm’s founder over the strategic direction of the company.

Luxottica, which has annual revenues of €7.3 billion, includes brands such as Oakley, Ray-Ban and Oliver Peoples among its empire. It also has over 7,000 retail outlets operating under different banners including Sunglass Hut and OPSM.

August 8, 2014

An expert on inclusivity and diversity in business has praised the leadership of a father who, having openly rejected his daughter’s sexuality in the past, has now announced he would like her to succeed him at the helm of the family-controlled Hong Kong property empire.

An expert on inclusivity and diversity in business has praised the leadership of a father who, having openly rejected his daughter’s sexuality in the past, has now announced he would like her to succeed him at the helm of the family-controlled Hong Kong property empire.

This week, Cheuk Nang chairman Cecil Chao announced he wanted his daughter, Gigi, to become vice chairwoman of the family business, and would be taking his proposal to next month’s board meeting.

August 6, 2014

Indian motorcycle manufacturer Hero MotoCorp, owned by the Munjal family, has elevated second-gen Pawan Munjal to the role of vice chairman, clarifying the family’s succession plans.

Indian motorcycle manufacturer Hero MotoCorp, owned by the Munjal family, has elevated second-gen Pawan Munjal to the role of vice chairman, clarifying the family’s succession plans.

The 59-year-old accepted the role at Hero MotoCorp this week – a move that many believe signals a forthcoming power shift wherein Pawan will soon succeed his father as chairman of the family business.

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