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Governance

November 28, 2014

Spain’s Koplowitz family has halved its stake in multibillion euro infrastructure company Fomento de Construcciones y Contratas, in a deal with the family of Mexican entrepreneur Carlos Slim.

Spain’s Koplowitz family has halved its stake in multibillion euro infrastructure company Fomento de Construcciones y Contratas, in a deal with the family of Mexican entrepreneur Carlos Slim.

The deal is part of a $1.3 billion capital raise, which aims to reduce the company’s debt. It is the first time in the company’s eight-decade history that the Koplowitz family won’t have a controlling majority stake in the firm.

November 25, 2014

In her first major move since becoming chair, Santander fourth-gen Ana Botin has appointed a new chief executive to lead the family-owned Spanish bank, and made four new appointments to the board.

In her first major move since becoming chair, Santander fourth-gen Ana Botin has appointed a new chief executive to lead the family-owned Spanish bank, and made four new appointments to the board.

November 18, 2014

Independent shareholders have voted overwhelmingly to abolish the dual class share structure of media empire News Corp at its recent annual meeting, but Murdoch family control means the company will stick with the status quo.

Independent shareholders have voted overwhelmingly to abolish the dual class share structure of media empire News Corp at its recent annual meeting, but Murdoch family control means the company will stick with the status quo.

The Murdoch family holds 40% of the voting rights in the publishing empire, despite owning just 12% of shares, allowing it to effectively control the company with a minority shareholding.

November 10, 2014

A family office expert has warned that the proposed merger between multi family offices Stonehage and Fleming Family and Partners in pursuit of greater scale may not be the answer to profitability issues faced by the industry.

A family office expert has warned that the proposed merger between multi family offices Stonehage and Fleming Family and Partners in pursuit of greater scale may not be the answer to profitability issues faced by the industry.

Family-owned multi family office Fleming Family & Partners has agreed to the merger with Stonehage to create Stonehage Fleming Family and Partners (SF&P). The merger will see the Fleming Family Trust Company’s ownership stake reduced to less than a quarter of the new entity. 

November 5, 2014

A list of 12 policy recommendations to support British family businesses has been published by a national sector organisation, ahead of the country’s elections next year.

A list of 12 policy recommendations to support British family businesses has been published by a national sector organisation, ahead of the country’s elections next year.

Notable family businesses in the UK include construction machinery manufacturer JCB, famed for its yellow diggers, and Associated British Food, which is controlled by the Weston family and owns discount retailer Primark.

October 24, 2014

Family-owned eyewear group Luxottica has announced a new co-chief executive this week in an attempt to resolve a tense management crisis that has seen two leaders quit in just over six weeks.

Family-owned eyewear group Luxottica has announced a new co-chief executive this week in an attempt to resolve a tense management crisis that has seen two leaders quit in just over six weeks.

The Italian company said Adil Mehboob-Khan, a former Procter & Gamble executive, would join the firm in January and become part of a new management structure comprised of three top executives.

October 17, 2014

Taittinger was a favourite tipple of Ian Fleming’s James Bond and became the first ever official champagne Fifa served to VIPs at the World Cup in Brazil. Despite its glamorous image, however, the French champagne house adheres to a set of humble family values.

Religion is never far from the surface at Champagne Taittinger. The Gothic spires of Reims’ Notre-Dame Cathedral are clearly visible only a mile from the office of Pierre-Emmanuel Taittinger, the president of the eponymously-named champagne house and figurehead for what he calls “the champagne mission”.

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.

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