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succession

January 25, 2011

Macao casino billionaire Stanley Ho has accused his family of stealing his shares in SJM Holdings without his consent, raising debate about who would succeed Ho in the billion-dollar business.

Macao casino billionaire Stanley Ho has accused his family of stealing his shares in SJM Holdings without his consent, raising debate about who would succeed Ho in the billion-dollar business.

A filing with the Hong Kong stock exchange reveals that Ho's shares in the holding company have been divided between his wives and children. Ho, chairman of SJM, said through his lawyer that he had not authorised this transfer of shares to his family.

January 17, 2011

Rupert Murdoch, owner of media empire News Corp, is in discussions to acquire the production company owned by his daughter, which some see as an attempt to bring her back into the family-controlled business.

Rupert Murdoch, owner of media empire News Corp, is in discussions to acquire the production company owned by his daughter, which some see as an attempt to bring her back into the family-controlled business.

Reports in the financial press say that the Shine Group, founded by Elisabeth Murdoch, had hired JP Morgan Chase to advise on strategy, including being acquired. Murdoch owns 53% of the company's shares, with Sony holding 20% and British Sky Broadcasting holding 13% stake.

December 3, 2010

Samsung Electronics Ltd, a division of South Korea’s largest conglomerate the Samsung Group, announced 3 December that third-generation Lee Jae Yong has been promoted to president at the family-controlled firm.

Samsung Electronics Ltd, a division of South Korea's largest conglomerate the Samsung Group, announced 3 December that third-generation Lee Jae Yong (pictured) has been promoted to president at the family-controlled firm.

November 29, 2010

Donald Trump reckons he has the right succession plan in place at his billion-dollar real estate and entertainment company, writes David Bain.

Donald Trump reckons he has the right succession plan in place at his billion-dollar real estate and entertainment company, writes David Bain. 
 
Interviewed recently in Forbes magazine, Trump (pictured) said he told his kids to avoid drugs, alcohol and smoking.
 
"As they grow up, any time I leave the house, I say, 'no drugs, no alcohol, no smoking.' After saying it a thousand times, they say, 'Dad, don't say it'," Trump was cited as saying in the Forbes article.  
 

November 25, 2010

Strategic decision making is more complex for a family business than for a non-family business, writes Jurgen Geerlings.

Strategic decision making is more complex for a family business than for a non-family business, writes Jurgen Geerlings.

The directors have to take into account that their decisions will affect the business, the family and the owners at the same time. Some consequences will have to be dealt with shortly after a decision has been made, other decisions will have a long-term impact.

August 25, 2010

A non-family CEO hired from within a company, who is familiar with and appreciates its culture and values, is far more likely than an outside CEO to continue the company's success.

Tom Davidow says:

A non-family CEO hired from within a company, who is familiar with and appreciates its culture and values, is far more likely than an outside CEO to continue the company's success. As Jim Collins points out in Built to Last, companies that last for generations maintain the original founder's culture and values. It doesn't matter if it changes its product.

August 19, 2010

Linda Johnson Rice, second-generation chairman and CEO of Johnson Publishing Co, has stepped down from her chief executive role, but is remaining as chairman.

Linda Johnson Rice, second-generation chairman and CEO of Johnson Publishing Co, has stepped down from her chief executive role, but is remaining as chairman.

Rice's CEO position will is to be taken by Desirée Rogers who served as White House Social Secretary in Barack Obama's administration.

In a statement, JPC said Rogers will be responsible for aligning core business strategies for all brands and would complement Rice's institutional knowledge of the business.

August 5, 2010

With the announcement that the board of Tata Sons, the holding company of India-based Tata Group, has formed a selection committee to choose a successor to chairman Ratan Tata, speculation is rife over who will replace him.

With the announcement that the board of Tata Sons, the holding company of India-based Tata Group, has formed a selection committee to choose a successor to chairman Ratan Tata (pictured), speculation is rife over who will replace him.
 
A statement from Tata Group said: "The committee is in the process of formulating criteria for identifying the most suitable candidate, taking into account the global nature and complexity of the Tata group's business at the present time."
 

July 26, 2010

Fuller, Smith and Turner PLC, the UK family-controlled brewer, has announced the promotion of a non-family head to run the business.

Fuller, Smith and Turner PLC, the UK family-controlled brewer, has announced the promotion of a non-family head to run the business.
 
Simon Emeny, currently managing director of the pub side of the business, will assume the new position of group managing director on 1 November.
 

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