Vimeo
LinkedIn
Instagram
Share |

Succession

October 29, 2014

Primogeniture is no longer the norm when it comes to succession planning, a new family business report reveals, with daughters and younger siblings worldwide increasingly taking up executive positions.

Primogeniture is no longer the norm when it comes to succession planning, a new family business report reveals, with daughters and younger siblings worldwide increasingly taking up executive positions.

October 16, 2014

More than 80% of family businesses do not have a robust succession plan and 75% of firms with CEOs aged 65 or older still have no succession process in place, new research has revealed.

More than 80% of family businesses do not have a robust succession plan and 75% of firms with CEOs aged 65 or older still have no succession process in place, new research has revealed.

The biennial PwC Global Family Business Survey of 2,800 family businesses found just over half (53%) have succession plans in place for some, if not all senior roles, but only 30% of these ‘plans’ are properly documented.

October 13, 2014

India’s largest privately held company is introducing the third generation into the fold, with twins Isha and Akash Ambani joining the board of two of Reliance Industries’ subsidiaries.

India’s largest privately held company is introducing the third generation into the fold, with twins Isha and Akash Ambani joining the board of two of Reliance Industries’ subsidiaries.

Their father Mukesh Ambani is chief executive of the family-controlled business, which had revenues of $75 billion (€59 billion) in the last financial year.

The 23-year-old twins will each become directors of Reliance Jio Infocomm and Reliance Retail Ventures.

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.

Click here >>
Close