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feud

July 19, 2013

The chief executive of Market Basket will remain head of the family business for now, despite a marathon board meeting on Thursday where his cousin attempted to oust him from the role.

The US-based chain of supermarkets was ordered by the courts to hold a board meeting following their long-running disputes, with some board members stating incumbent president, Arthur T DeMoulas, was spending money recklessly and ignoring the advice of the board.

Hotel boss calls for rejection of family board nominees

June 5, 2013

The chief executive of the US-based Morgans Hotel Group has urged shareholders to reelect the existing board of directors, and reject a bid by two families to place their children at the helm of the company. He has also said that, if reelected, the board will consider strategic alternatives for the company, including its sale.

Michael Gross said Michael Olshan, Andrea Olshan and Jason Taubman Kalisman do not have the relevant business, industry or public company experience to qualify them to serve as directors.

Family business roundup: Lacoste family bows out, Hearst, Lactalis and Maple Leaf expand operations

November 8, 2012

It’s a busy time for sales and acquisitions in the family business world, with companies in France, Vietnam and the US buying controlling stakes, while the Lacoste family has sold off its shares in the eponymous clothing brand.

On 7 November, family member and chairwoman Sophie Lacoste Dournel said she and family members had decided to sell their remaining 28% shareholding to Maus Freres “with great sadness”.

Gina Rinehart in court – again

September 28, 2012

Life appears never to be dull for Gina Rinehart, the world’s richest woman and head of mining family business Hancock Prospecting, who is now facing a legal challenge over her ownership of the family’s assets.

France, family and feuds

September 6, 2012

Families will feud. They will feud between themselves and with other families. These feuds can get pretty nasty, and when there’s money and power involved the nastiness often gets aired in public.

So it is with two of France’s most powerful families – the 70-plus family members behind Hermes and the Arnaults, or more specifically, the patriarch, Bernard Arnault. Arnault and his family control more than 40% of the world’s biggest luxury products business, LVMH.

Korean automaker signs deal to control construction giant

January 14, 2011

The decade-long feud in one of South Korea’s richest families has taken another turn, as Hyundai Motor signed a preliminary agreement to control the country’s largest builder, pushing out rival bidder the Hyundai Group.

Bettencourt personally questioned over accusations

July 27, 2010

Liliane Bettencourt, L’Oreal heiress and France’s richest woman, was questioned on Monday by French police as part of an ongoing investigation into her finances.

Liliane Bettencourt, L'Oreal heiress and France's richest woman, was questioned on Monday by French police as part of an ongoing investigation into her finances.

Bettencourt (pictured) was being questioned as a witness in an investigation into tax evasion and apparent illegal donations given to the French government by the heiress.

Comment: Why family feuds aren't always bad for business

July 19, 2010

On the surface family feuds don’t look so good for business. They mean decisions are often put off as family energies get diverted to emotional disputes, not the running of the company, writes David Bain

On the surface family feuds don't look so good for business. They mean decisions are often put off as family energies get diverted to emotional disputes between members, not the running of the company, writes David Bain.

The Bettencourt affair: can other families avoid a similar scandal?

July 14, 2010

Octogenarian L’Oreal heiress Liliane Bettencourt has dominated the headlines this week as a string of allegations have emerged about her financial affairs, writes Katie Barker.

Octogenarian L'Oreal heiress Liliane Bettencourt has dominated the headlines this week as a string of allegations have emerged about her financial affairs, writes Katie Barker.

New twist in L'Oreal case sees heiress vow to declare assets

June 22, 2010

Lilian Bettencourt, L’Oreal heiress and France’s richest woman, has said she will declare her overseas assets after she was caught on tape discussing apparently undisclosed holdings with an advisor.

Liliane Bettencourt, L'Oreal heiress and France's richest woman, said on Monday that she will declare her overseas assets after she was caught on tape discussing apparently undisclosed holdings with an advisor.

"I have decided to declare all of my family assets that are currently abroad in cooperation with the French tax authorities," said 87-year-old Bettencourt (pictured) in a statement.