CampdenFB is conducting an informal poll of our readers on what they think is the top family business of 2011. We have selected nine family businesses that CampdenFB believes have shown outstanding performance in 2011 in terms of not just profits and revenues, but also commitment to best practices in areas like governance and succession planning, in the context of the family business. Please take time to vote for the family business you believe has excelled in 2011. All voting is anonymous.
Tim and Glenn Cooper have been actively defending the family aspect of Coopers Brewery since they took control of the company in the early 1990s. The fifth generation completely revived the family business, which this year became the biggest Australian-owned brewery.
The iconic cosmetics and perfume group has been among the best in establishing a clear alignment of family ownership with outside shareholders. The business has a proven way of encouraging next-gens, which saw third generation Aerin Lauder launching her own cosmetic brand this year.
This year’s winner of the IMD-Lombard Odier family business award, Firmenich places a strong emphasis on entrepreneurship, as well as research and development. The family, which has led the business for four generations, also focuses heavily on good corporate governance.
Under the joint leadership of fourth-generation Bill Ford and non-family Alan Mulally, Ford Motor was the only carmaker in the US not to receive state aid during the financial crisis. The iconic automaker, which was established by Bill’s great-grandfather in 1903, also emerged stronger than its competitors after the recent tough times.
Among the best exponents of the family business model in India, the Godrej Group has consistently put the family ownership structure at the centre of what it does. While a non-family professional heads most divisions, next-generation members also play an active role in the business.
The family behind Lego has drawn on the skills of non-family managers better than most, helping to professionalise and grow the business – with revenues jumping 68% since 2008. It has a part-foundation structure that focuses on educating children in developing economies.
A market-leading retailer in east Africa, Nakumatt’s revenues grew by 22% over the last three years. Atul Shah, considered one of the most important business leaders in emerging markets, is already training his son to succeed him in the business.
One of the fastest growing family businesses in the world, the Latin American conglomerate’s performance has been consistent with its strong social and environmental policies. Headed by third-generation Marcelo Odebrecht, the company supports a clear succession plan.
Perfume maker and fashion group Puig underwent a successful restructuring in the mid-2000s, resulting in strong growth over recent years – sales revenues were up 22% in 2010. It is committed to the family business model, with third-gen Marc Puig heading the business.